NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

(Oslo, 13 October 2020) Kahoot! AS ("Kahoot!" or the "Company") is pleased to
announce that a private placement of 5,170,000 shares in the Company at a price
of NOK 46 (i.e. NOK 238 million) to a Fund advised by Capital World Investors
has been completed. The private placement consisted of 1,587,572 shares to be
issued to employees of the Company and its subsidiaries following exercise of a
total of 1,627,572 employee share options and 3,582,428 existing shares sold by
Creandum III L.P. 

The issuance of the option shares sold in the transaction was resolved by the
Company's Board of Directors (the "Board") on 13 October 2020 pursuant to the
authorization granted to the Board by the general meeting of the Company on 8
June  2020. 

Following registration of the capital increase pertaining to the issuance of the
option shares, the Company's share capital will be NOK 44,523,279.80 divided
into 445,232,798 shares, each with a nominal value of NOK 0.10. 

Creandum III L.P. is represented on the Board by Fredrik Cassel and has reduced
their shareholding by 3,582,428 shares in the private placement. Following the
transaction, Creandum III L.P. will own 23,550,832 shares 5,29% in the Company.

The following other primary insiders have sold shares in the Private Placement: 

- Morten Versvik, CTO of the Company, has sold 300,000 shares acquired by the
exercise of vested employee options exercised at a strike price of NOK 1.6667
per share. Following the Private Placement, Morten Versvik and his related
parties will own 12,962,076 shares and 150,000 options in the Company.

- Åsmund Furuseth, CPO of the Company, has sold 200,000 shares acquired by the
exercise of vested employee options exercised at a strike price of NOK 1.6667
per share. Following this transaction, Åsmund Furuseth and his related parties
will own 7,606,000 shares and 100,000 options in the Company.

In addition, Julie Wessel, VP Corporate Development of the Company, has
exercised 30,000 vested options at a strike price of NOK 6.6667 per share. 
Following this transaction, Julie Wessel and her related parties will own 30,000
shares and 120,000 options in the Company. 

ABG Sundal Collier ASA, Arctic Securities AS and Goldman Sachs International
(collectively, the "Managers") are placement agents to Kahoot! and
Advokatfirmaet Thommessen AS is legal counsel to Kahoot! in connection with the
private placement.


For further information, please contact:

Eilert Hanoa, CEO
Phone: +47 92 83 29 05 
Email: eilerth@kahoot.com

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

About Kahoot! AS 
Kahoot! is on a mission to make learning awesome! We want to empower everyone,
including children, students, and employees to unlock their full learning
potential. Our game-based learning platform makes it easy for any individual or
corporation to create, share, and play learning games that drive serious
engagement. In addition, our family of apps takes math learning to a new level
and empowers children to learn to read through play. Launched in 2013, Kahoot!'s
vision is to build the leading learning platform in the world. In the last 12
months, more than 200 million games have been played on the Kahoot! platform
with over one billion participating players in 200 countries. The company is
headquartered in Norway with offices in the US, the UK, France, Finland, Denmark
and Spain. Let's play! 

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Important information: The release is not for publication or distribution, in
whole or in part directly or indirectly, in or into Australia, Canada, Japan or
the United States (including its territories and possessions, any state of the
United States and the District of Columbia). This release is an announcement
issued pursuant to legal information obligations, and is subject to the
disclosure requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act. It is issued for information purposes only, and does not constitute
or form part of any offer or solicitation to purchase or subscribe for
securities, in the United States or in any other jurisdiction. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "US Securities Act"). The
securities may not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the US Securities Act. The
Company does not intend to register any portion of the offering of the
securities in the United States or to conduct a public offering of the
securities in the United States. Copies of this announcement are not being made
and may not be distributed or sent into Australia, Canada, Japan or the United
States. 

The issue, subscription or purchase of shares in the Company is subject to
specific legal or regulatory restrictions in certain jurisdictions. Neither the
Company nor the Managers assume any responsibility in the event there is a
violation by any person of such restrictions. 

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform themselves
about and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such
jurisdiction. 

The Managers are acting for the Company and no one else in connection with the
Private Placement and will not be responsible to anyone other than the Company
for providing the protections afforded to their respective clients or for
providing advice in relation to the Private Placement and/or any other matter
referred to in this release. 

Forward-looking statements: 
This release and any materials distributed in connection with this release may
contain certain forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect the Company's
current expectations and assumptions as to future events and circumstances that
may not prove accurate. A number of material factors could cause actual results
and developments to differ materially from those expressed or implied by these
forward-looking statements.

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