Update on synthetic option claim

Oslo, 21 May 2021: Reference is made to previous descriptions of a matter related to a claim from former Huddly employees for compensation based on certain synthetic options. This matter was detailed in the Information Document for Huddly AS admission to trading of shares on Euronext Growth, dated 15 February 2021, section 1.2.1 on page 10. A description of the claim was also given in the Huddly Annual Report 2020, dated 2 March 2021, note 17 on page 23.

Huddly AS has received a lawsuit from seven former employees and one current employee regarding this claim. The claim approximately totals NOK 153 mill. Huddly shall submit its response to Oslo District Court within 8 June 2021. As stated in the Information Document referred to above, the Company’s opinion is that the claim lacks both factual and legal basis, and that the claim now raised is unfounded and without merit.

About Huddly AS: Huddly is a technology company that creates tools for team collaboration. Based in Oslo, Norway, we combine expertise across the fields of design, hardware, software, and artificial intelligence. The company’s smart cameras are designed to make it easier and better for people to communicate with each other. Huddly’s solutions with industry-leading partners enable high-quality video experiences on all major collaboration platforms.

For more information, please contact: Stein Jacob Frisch, Investor Relations, Huddly AS, mob: +47 91 61 09 11, email: huddly@lillebyfrisch.no