September 16, 2022

KAHOOT! ASA – Disclosure of large shareholding

SB Northstar LP (“SoftBank”), a fund managed by a 100% directly owned subsidiary of SoftBank Group Corp. has on 16 September 2022 entered into an agreement with General Atlantic FT BV to sell 73,500,000 shares in Kahoot! ASA (the “Company”), representing 15.02% of the issued share capital and votes of the Company (the “Transaction”). The Transaction will be completed in two tranches, whereby the sale of 44,029,228 shares, representing 9.00% of the Company’s issued share capital and votes, is expected to be completed on or about 26 September 2022 and the sale of 29,470,772 shares, representing 6.02% of the Company’s issued share capital and votes, is expected to be completed in Q4 2022, once applicable regulatory approval has been obtained by the purchaser. Following completion of the second tranche of the Transaction, SoftBank will not own or hold any shares, right to shares or voting rights in the Company as set forth in section 4-2 of the Norwegian Securities Trading Act.

Prior to completion of the second tranche of the Transaction, SoftBank expects to early terminate the total return swap arrangement referring to shares in the Company described in SoftBank’s disclosure of holding made on 26 August 2023 (the “Swap”). Following termination of the Swap, SoftBank will not have or be party to any financial instruments relating to shares in the Company as set forth in section 4-3 of the Norwegian Securities Trading Act.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act.

For further information, please contact:

Ken Østreng, CFO
Phone: +47 911 51 686
Email: keno@kahoot.com

Jonas Forslund, Director Investor Relations
Phone: +358 40 595 0968
Email: jonasf@kahoot.com