CORPORATE ACTION: EXERCISE PERIOD 2-16 OCTOBER 2023 FOR WARRANTS OF SERIES TO 2

Background

In May 2023, Brain+ carried out a rights issue of units where the company raised DKK 14.2 million before transaction costs against issuance of shares and warrants of series TO 2 and series TO 3. In the rights issue, a total of 28 542 348 warrants of series TO 2 and series TO 3 were issued.

For the warrants of series TO 2, the window for exercising warrants to subscribe for new shares in Brain+ is open in the period 2 October to 16 October. Holders of warrants must take action during this exercise window, otherwise the TO 2 warrants will laps with no value.

Summary terms and conditions of warrant series TO 2

Each holder of Series TO 2 warrants is entitled to subscribe for one new share in Brain+ at a price of DKK 0.20 per share. If all warrants are exercised, Brain+ will receive proceeds of approximately DKK 5.7 million before issuing costs.

Please take note that the final trading day for Series TO 2 warrants is scheduled for 12 October 2023.

Deadlines and call to action

The warrants of series TO 2 will be tradeable on First North Growth Market under the ticker code BRAINP TO 2 until 12 October 2023. The warrants can however be exercised for subscription of new shares until the final day of the exercise period, which is 16 October 2023.

NB! Please note that for holders of warrants of series TO2 with deposit at Nordnet, the deadline for exercise of their warrants is 12 October. After this day, Nordnet might automatically sell the warrants in the market. Warrants, which have not been exercised no later than on 16 October, will become invalid without any compensation for the holder.

Warrant holders have two options to prevent warrants from expiring with no value:

1. Actively subscribe for shares no later than on 16* October 2023.
   (NB! Custodian banks may have an earlier deadline. Nordnet’s deadline is on 12 October)
2. Sell warrants in the market no later than on 12 October 2023.

Non-warrant holders and others wishing to exercise more warrants can buy warrants in the market, ticker code: BRAINP TO 2, until 12 October 2023.

How to Exercise Warrants:

A pre-condition for investors to participate in the warrant exercise, is that they have warrants in their deposit account. Investors who do not hold any warrant, can purchase warrants over the market until 12 October 2023.

Investors who have their warrants in either a custody account, an investment savings account, or in capital insurance with custodian registered ownership, can subscribe and pay for the subscription directly to the respective custodian bank. Detailed instructions on the warrant exercise procedures are typically available on the custodians’ webpages.

To get more information and instructions on how to exercise warrants, please reach out to your custodian bank well in advance before the exercise period’s final day. It’s important to note that banks and managers typically require advance notification of the use of warrants to subscribe for new shares before the exercise period concludes.

Investors with Nordnet as custodian bank, must for instance notify subscription latest 12 October 2023.