2017-03-23

Outcome of the offering in MIPS - trading in the share on Nasdaq Stockholm commences today

NOT FOR DISTRIBUTION, PUBLICATION OR PUBLIC RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE MAY BE UNLAWFUL MIPS AB (publ) ("MIPS" or the "Company") today announces the outcome of the offer to acquire shares in MIPS  (the "Offer") and the listing of its shares on Nasdaq Stockholm. The interest from the general public in Sweden as well as institutional investors in Sweden and abroad has been very strong. The Offer was considerably over-subscribed and trading in the MIPS share commences today on Nasdaq Stockholm.

Johan Thiel, CEO of MIPS:

"It is very pleasing to see the strong interest in MIPS from investors both from Sweden and other countries in Europe. Our focus going forward is to continue growing with current customers through increased penetration of their helmet ranges. MIPS' work to educate the market about the MIPS BPS and how rotational motion may cause brain injuries continues."

Bengt Baron, Chairman of the Board of MIPS:

"The IPO is a sign of quality of MIPS as a company, its business model and offering and I am really happy that such a broad base of investors share our enthusiasm with regards to the further potential of the company and the desire to make helmets even safer."

The Offer in brief

About MIPS

MIPS is specialized in helmet based security and protection of the brain and is world leader in this field. Based on an ingredient brand model MIPS Brain Protection System (BPS) is sold to the global helmet industry. The solution, which is patented in all relevant markets, is based on more than 20 years of research and development together with the Royal Institute of Technology and Karolinska Institutet in Stockholm.

The company's headquarter with 22 employees in research and development, sales and administration is in Stockholm, where also the test facility is located. Production takes place at sub-contractors. During 2016 net sales amounted to MSEK 87 with an adjusted EBIT margin of 28 per cent. For more information, www.mipscorp.com.

Advisors

ABG Sundal Collier and Handelsbanken Capital Markets are Joint Global Coordinators and Joint Bookrunners. Advokatfirman Cederquist is legal advisor to the Company and Advokatfirman Hammarskiöld & Co is legal advisor to the Joint Global Coordinators and Joint Bookrunners.

For further information, please contact:

Boel Sundvall, Head of Investor Relations at MIPS
Telephone: +46 705 60 60 18
E-mail: boel.sundvall@mipsprotection.com

IMPORTANT INFORMATION

This announcement is not and does not form a part of any offer for sale of securities in any jurisdiction in which such offer would be unlawful.

This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly into the United States (including its territories and dependencies, any State of the United States and the District of Columbia), Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdiction. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered, sold or transferred, directly or indirectly, within the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States and no public offering of the securities referred to in this announcement is being made in the United States.

The offering of the securities referred to in this announcement has been made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

In any EEA Member State other than Sweden that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons"). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intends," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.

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[1] The Main Shareholders and 15 additional shareholders in the Company

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