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Ensurge Micropower ASA: Private placement successfully placed

Oslo, 15 February 2023

Reference is made to the stock exchange announcement published on 9 February
2023 by Ensurge Micropower ASA ("Ensurge" or the "Company") regarding a
contemplated private placement (the "Private Placement") of new shares in the
Company (the "Offer Shares"). Ensurge is pleased to announce that the Private
Placement has been successfully placed, through an allocation of Offer Shares at
a subscription price of NOK 0.10 per Offer Share, being the attained book
building price, for total gross proceeds of approximately NOK 50 million. The
net proceeds from the Private Placement will be used to fund the Company's
operations and development work going forward. The Private Placement is subject
to approval from an Extraordinary General Meeting in the Company, to be called
and held on or around 9 March 2023 (the "EGM").