September 23, 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 22 September 2022 taken redelivery of 1,640,968 shares in Kahoot! ASA (the “Company”) previously lent out.

Following the redelivery, SoftBank currently holds and may exercise voting rights with respect to 73,500,000 shares in the Company, equalling 15.02% of the outstanding shares and votes in the Company. As described in SoftBank’s disclosure of holding made on 16 September 2022, SoftBank has agreed to sell 73,500,000 shares in the Company, following which 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.

Further, SoftBank will on 23 September 2022 settle the total return swap arrangement referring to shares in the Company described in SoftBank’s disclosure of holding made on 26 August 2022 (the “Swap”). Following settlement of the Swap, SoftBank does not have and is not 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.