Safeguarding your data anywhere

DisclaimerThe information in this investor presentation (the “Investor Presentation") has been prepared by Hiddn Solutions ASA (“Hiddn” or the “Company”, together with its consolidated subsidiaries, the “Group”) solely for the useat the presentation to investors and other stake holders in connection with the Company’s rights issue (the “Rights Issue”) of up to 20,761,245 offer shares (the “Offer Shares”). By attending the meeting where this InvestorPresentation is made, or by reading this Investor Presentation, you agree to be bound by the limitations and provisions stipulated below.

The Company has prepared and published a prospectus dated 26 January 2017 (the “Prospectus”) in connection with, inter alia, the Rights Issue. The distribution of the Prospectus, this Investor Presentation and theoffering, application, purchase or sale of shares issued by the Company in the Rights Issue in certain jurisdictions is restricted by law. Application for Offer Shares in the Rights Issue can only take place on the basis of theProspectus and the procedures set out therein. This Investor Presentation does not constitute an offer of, or an invitation to purchase, any of the shares in any jurisdiction in which such offer or sale would be unlawful. Noone has taken any action that would permit a public offering of the Offer Shares to occur in any jurisdiction outside Norway. Accordingly, neither this Investor Presentation nor any advertisement or any other offeringmaterial may be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations.

The information set out in this Investor Presentation has been extracted from the Prospectus. For full information about the Company, its business and the Rights Issue, the investor must read the full Prospectus.

This Investor Presentation may include forward-looking statements that reflect the Group’s current intentions, beliefs or current expectations concerning, among other things, financial position, operating results, liquidity,prospects, growth, strategies and the industries and markets in which the Group operates (“Forward-looking Statements”). These forward-looking statements can be identified by the use of forward-looking terminology,including the terms “anticipates”, “assumes”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “might”, “plans”, “projects”, “should”, “will”, “would” or, in each case, their negative, or othervariations or comparable terminology. Forward-looking statements as a general matter are all statements other than statements as to historic facts or present facts or circumstances. They appear in a number of placesthroughout this Prospectus, and include, among other things, statements relating to the Group’s strategy, outlook and growth prospects and the ability of the Group to implement its strategic initiatives, the Group’sfinancial condition, the Group’s working capital, cash flows and capital investments; the Group’s dividend policy, the impact of regulation on the Group, general economic trends and trends in the Group’s industries andmarkets and the competitive environment in which the Group operates. Prospective investors in the Shares are cautioned that forward-looking statements are not guarantees of future performance and that the Group’sactual financial position, operating results and liquidity, and the development of the industries and markets in which the Group operates, may differ materially from those made in or suggested by the forward-lookingstatements contained in this Prospectus. The Group can provide no assurances that the intentions, beliefs or current expectations upon which its forward-looking statements are based will occur. Although the Groupbelieves that the expectations implied by these forward-looking statements are reasonable, the Group can give no assurances that the outcomes contemplated will materialise or prove to be correct. By their nature,forward-looking statements involve and are subject to known and unknown risks, uncertainties and assumptions as they relate to events and depend on circumstances that may or may not occur in the future. Because ofthese known and unknown risks, uncertainties and assumptions, outcomes may differ materially from those set out in any forward-looking statement. Important factors that could cause those differences include, but arenot limited to: implementation of its strategy and its ability to further expand its business and growth; technology changes and new products and services introduced into the Group’s market and industry; ability to developnew products and enhance existing products; the competitive nature of the business the Group operates in and the competitive pressure and changes to the competitive environment in general; loss of important clients;earnings, cash flow, dividends and other expected financial results and conditions; fluctuations of exchange and interest rates; changes in general economic and industry conditions; political and governmental and socialchanges; changes in the legal and regulatory environment; environmental liabilities; changes in consumer trends; access to funding; and legal proceedings. Additional factors that could cause the Group’s actual results,performance or achievements to differ materially include, but are not limited to, those discussed under Section 2 “Risk Factors”. Prospective investors in the Shares are urged to read all sections of the Prospectus and, inparticular, Section 2 “Risk Factors” for a more complete discussion of the factors that could affect the Group’s future performance and the industry in which the Group operates when considering an investment in theCompany. The Company assumes no obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to our actual results.

An investment in the Company should be considered as a high-risk investment. An investment in the Company is only suitable if you have sufficient knowledge, sophistication and experience in financial and businessmatters to be capable of evaluating the merits and risks of an investment decision relating to the Company's shares, and if you are able to bear the economic risk, and to withstand a complete loss of your investment.Several factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied byinformation in this Investor Presentation. Certain risk factors relating to the Company are included under the caption "Risk Factors" in this Investor Presentation. For a full description of the Company’s risk factors as set outin the Prospectus, please read Section 2 “Risk Factors” of the Prospectus.

By attending or receiving this Investor Presentation you acknowledge that you will be solely responsible for your own assessment of the Company and that you will conduct your own analysis and be solely responsible forforming your own view of the potential future performance of the Company’s business. Your further accept and acknowledges that any investment in the Company in the Rights Issue must be made on the basis of theProspectus and the procedures set out therein, and that no subscription, purchase or other transaction can be made or based on this Investor Presentation.

This Investor Presentation is subject to Norwegian law, and any dispute arising in respect of this presentation is subject to the exclusive jurisdiction of Norwegian courts in Oslo.

Presentation

January 30th. 2018 Oslo, Norway

Hiddn supplies proprietary hardware-based encryption and security products to military, government, large institutions and corporate customers with further potential to scale into the retail market

Hiddn Solutions ASA - Key facts

OSE-listing: Listed on the Oslo Stock Exchange (Ticker: HIDDN)

Products: Security products:- Cybersecurity: Encrypted storage devices- Physical products: Secure storage of classified material

Customers: Military and governments (direct sales / through agents)Large institutions and corporates (sale through distributors)

Organic growth to be complemented with strategic growth (M&A);key focus on expanding sales & distribution capacity, product offering and solution sales

Listing, rights issues and largest shareholders

Initial offering

Offering completed on 13 February 201724.12m shares issued (NOK 69.7m), oversubscribed by approx. 50%

Listing through RTO, two equity offerings with NOK 78.7 million in net proceedings

Proceeds utilised to fund ongoing R&D and scaling of operations

Largest shareholders as of 29 Jan 2018*

Funds received has allowed Hiddn to move forward with product development

Balance sheet has been strengthened through the repayment of short-term debt and building ofworking capital, to facilitate scaling of operations to handle larger volumes

Proceeds from the secondary offering are being used for through-and-through commercialisation ofthe company; with strengthening sales & marketing and logistics functions as a priority

Listing through RTO

Hiddn entered the OSE main list through an RTO of Agasti Holding ASAProspectus approved by the Norwegian Financial Authority in January 2017

Shareholder # of shares % of top 20 Type Country

Intelco Concept AS 10 605 969 14,22% Comp. NOR

Tvenge, Torstein Ingvald 6 500 000 8,71% Priv. NOR

Finn Clausen Gruppen AS 4 250 000 5,70% Comp. NOR

Immob Holding AS 3 476 837 4,66% Comp. NOR

Dallas Asset Management AS 3 200 000 4,29% Comp. NOR

Contango Ventures II AS 2 434 834 3,26% Comp. NOR

Chamar AS 2 392 692 3,21% Comp. NOR

Eiliha AS 2 047 986 2,75% Comp. NOR

Holteøy AS 2 000 000 2,68% Comp. NOR

Tvedt Equity AS 1 817 000 2,44% Comp. NOR

Pactum Gamma AS 1 758 121 2,36% Comp. NOR

Nettverk AS 1 588 231 2,13% Comp. NOR

Brekke Larsen AS 1 200 000 1,61% Comp. NOR

Jaco Invest AS I 1 095 292 1,47% Comp. NOR

Silvercoin Industries AS 1 000 000 1,34% Comp. NOR

Tveit Invest AS 1 000 000 1,34% Comp. NOR

Tvenge, Marianne 1 000 000 1,34% Priv. NOR

Tveit, Arnfinn 931 249 1,25% Priv. NOR

Uglen Holding AS 857 377 1,15% Comp. NOR

Netfonds Livsforsikring AS 829 530 1,11% Comp. NOR

Secondary offering

Completed 16 Nov 177.5m shares issued (NOK 15m) in a targeted private placement

A total of 31.6m new shares issuedNet proceedings amounting to NOK 78.7 million

Result of offerings

* 1 615 418 shares allocated in a separate tranche inthe private placement; these currently have aseparate ISIN and are to be released upon prospectusapproval (primo March)

Prospectus relating to the November secondary offering currently in draftingApproval is expected in early March 2018

Current activities

Important milestones

Hiddn – leading on technology since 1998

2002$10m fromthe US DoD

1998High Density Devicesis founded

2005First product FIPS140-2 lv. 3 certified

2007First productNSM approved

2013NBV contractsigned

2017HiddnIPO

2016SafeDisk NBV* approvalfor level Confidential

More than NOK 200m invested in R&D since 1998

Funded by demanding security and defence clients

Hiddn’s products provide unparalelled safety

Since 1998, more than NOK 250m has been invested in developing Hiddn's intellectualproperty. This investment has put the company in a unique position as no othercompany can provide the the market with similar products when it comes to safety

A significant part of Hiddn's R&D funding has been provided by institutions with strictsafety requirements. Hiddn has obtained a unique position with national securityagencies and defence clients in several European countries and in the US

Repeat orders from customers show that many of these institutions and organisationsstill rely on and trust Hiddn products to secure and safeguard their data, proving thatHiddn still provides a unique and preferred product

*The Netherlands National Communications Security Agency

Important customers and references

Customer

Certified

Certified for use at level

Certification Authority

Product

The Kingdom of Netherlands Norwegian Gov't, NGO's, and companies NATO

Hiddn SafeDiskHiddn CMS

Hiddn CoCrypt Hiddn-enabled RAID server

The Norwegian National Security Authority (NSM)

The Dutch National Security Authority (NBV)

The US & Canadian Cryptographic Module Validation Authorities FIPS 140-2

FIPS 140-2, Level 3NATO SecretConfidential Restricted

November 2016 (interim)December 2014 (interim)January 2017 (final)

February 2016 (interim)

NorthropGrumman’sGlobalHawk UAV

1998 - 2017 2017 - Onwards

Roadmap for scaling (volume production)

Made-to-measure productsPartnerships driving volumesReduced external component unit cost

Bespoke products Low volumes per orderExternal components limiting margin potential

OEM products

Global PC/device market

Pure sale of core IP

VOLUMEPOTENTIAL

UNIT COST

BESPOKE SOLUTIONS MTM SOLUTIONS RETAIL SOLUTIONS

MEMORY CHIP

CRYPTOCHIP (CORE IP)

ASSEMBLY

CRYPTOCHIP (CORE IP)

MEMORY CHIP

CRYPTOCHIP (CORE IP)ASSEMBLY

Military & Government

Corporate & Enterprise

Retail customers

Military & Government

Corporate & Enterprise

Retail customers

Military & Government

Corporate & Enterprise

Retail customers

Go to market – Channels and distribution

Producers of Laptop’s, PC’s, storageand other devices with integrated

storage. (ongoing discussions)

Project sales

OEM sales and distribution throughPremium distributors

Partner sales

And other organisationsin need of bespoke highend security solutions

Communication flow last 12 month

Advantages of hardware vs. software encryption

Hiddn's device encryption offers distinct advantages

Hardware encryption relies on separate cryptochips to perform encryption and decryption. No system integration required and no interference with system upgrades etc.

Software encryption involves using the device’ own operating system to encrypt and decrypt data, making it vulnerable to attacks

Full-drive hardware encryption is performed without any interaction required by the user. Pre-boot authentication requires a pin code or password to be entered. In Hiddn’s solutions also a key card (smart card or sim card) needs to be inserted into the device

Super simple user interface

No system integration required

More secure

Computer speed

Software encryption involves using the device’ processing power to encrypt and decrypt data, making it slower compared to hardware encryption alternatives

Hiddn’s products differ from other hardware encryption solutions in that the key is deleted when the storage device is without power.The encryption key is stored encrypted on a separate “smart card” chip and only transferred to the device following a proprietary process of two-factor authentication and encrypted key transfer.Data remains inaccessible without the smart card and pass code

…and Hiddn technology offers unparalleled authentication and secure key handling features

Device encryption is more important than most realise…

ENDPOINT AND MOBILE

SECURITY

Physical means40%

Electronic means60%

- Hacked firewalls, cloud solutions etc.

- Inside job- Accidentally published- Poor security- Configuration error

Stolen or lost media like USB drives, PC and mobile devices

HOW ARE THIEVES GETTING OUT DATA?

Cybersecurity is getting increasingly complicated…THE CYBERSECURITY SCENE – ANNO 2005 THE CYBERSECURITY SCENE – ANNO 2017

CLOUD SECURITY AND EMERGING

TECHNOLOGY SECURITY

APPLICATION AND DATA SECURITY

NETWORK AND GATEWAY SECURITY

SECURITY MONITORING AND

OPERATIONS

THREAT AND VULNERABILITY MANAGEMENT

ENDPOINT AND MOBILE SECURITY

IT Security Team

Smart cards TokenBiometrics

Wireless employees

Corporate Firewall

Gateway / AntivirusVPNAuthorizationNetwork IDS

Gateway

PKICertificate AuthorityEncryption

Remote employee

Internal Firewall

Desktop Firewall

…and the market is turning to data encryption as a part of the solution

“Unbreakable” encryption algorithms readily available

Allows for secure data exchange through unsecure infrastructure / network

Control traffic

Control content

Exchange unencrypted information

Authentication (Mutual verification of identity)

Secure exchange of encryption key / establish «secret language»

Exchange encrypted information

UNENCRYPTED DATA EXCHANGE POSING SECURITY CHALLENGES MADE MORE SECURE BY EXCHANGING ENCRYPTED DATA

The two most important steps to secure encryption are authentication and secure key exchange

Increasing complexity

No sustainably secure solutions

Focus on plugging holes

Opens for data leakage

Opens for hiding malicious content together with genuine content

Hiddn's unique technology and IP

Hiddn uses the same industry-leading encryption algorithm asmost of its competitors – the Advanced Encryption Standard("AES") with 256-bit encryption keys

Unlike its competitors however, Hiddn doesn't keep the secret keythat is used in the algorithm in the same place as the data itprotects (i.e. the hard drive or USB stick)

Hiddn's uniqueness lies in that the encryption key is securely heldon a smart card and transferred securely to the storage devicewhen it's being used, and then deleted when the device ispowered off

This technology makes Hiddn's products the most secure deviceson the market for protecting data at rest, earning certificationsand approvals from highly demanding institutions and customers

Describes a method for using a smart phone for wireless userauthentication and key transfer, allowing users to use somethingthey always carry (their smart phone) instead of a smart card toauthenticate themselves to the device

Mobile authentication patentIndustry standard encryption, unique key handling

Describes how Hiddn's technology can be used for selectiveencryption, i.e. allowing some partitions to remain unencrypted

Encrypted partitioning patent

Current product portfolio

* Self-encrypting drives

Device protection Data-at-rest protection

Embe

dded

Stan

d-al

one

Current products in the Hiddn product portfolioKryptoDisk – Bootable

USB hard drivecoCrypt – USB flash drive

SafeDisk – Laptop SSD RAID server encryption

Embedded productsUses industry-leading AES-256 encryption

Encryption keys are stored separately, either on a securesmart card (SafeDisk) or on external servers (RAID)

Encryption keys are deleted when the devices arepowered off or put in hibernation mode

Stand-alone productsUses industry-leading AES-256 encryption

Encryption keys are stored separately, either on a securesmart card (KryptoDisk) or SIM card (coCrypt)

Encryption keys are deleted when the devices aredisconnected from the computer

Card Management System ("CMS")Management software developed to manage users andHiddn devices in an organisation

Underpins the organisation's security policies and givesthe IT administrator control and oversight

CMS Card Management System

Hiddn's market position and competition

Encrypted USB SSD iStorage diskAshur PRO2 DataLocker H350 Apricorn Aegis Fortress DataLocker DL3 FE RFID Hiddn KryptoDisk

FIPS-certification Pending FIPS 140-2 level 3 FIPS 140-2 level 2 FIPS 140-2 level 1* FIPS 140-2 level 3

Tamper-proofed

2-factor authentication

Encryption key stored separately

Hiddn's encryption solutionsprovide unmatched securityfor safeguarding data at rest,both in embedded and stand-alone storage devices

Competitors are also utilisingthe industry-leading AESencryption algorithm with256-bit encryption keys, butin some form they keep thekey stored on the devicewhile it's not in use

Hiddn's main competitiveadvantage lies in its userfriendly and secure methodof keeping the encryption keystored separately from thedevice

*Assumption – data sheet claims FIPS 140-2 validation, but doesn't specify level

Encrypted USB flash drive Kingston DT2000 Kingston IronKey D300M iStorage datAshur SSD Apricorn Secure Key 3Z Hiddn coCrypt

FIPS-certification FIPS 140-2 level 3 FIPS 140-2 level 3 FIPS 140-2 level 3 FIPS 140-2 level 3 FIPS 140-2 level 3

Tamper-proofed

2-factor authentication

Encryption key stored separately

Encrypted laptop SSD Crucial MX300 Samsung 850 EVO SanDisk X400 Integral Crypto SSD Hiddn SafeDisk

FIPS-certification N/A N/A N/A FIPS 140-2 level 2 N/A**

Tamper-proofed

2-factor authentication

Encryption key stored separately

**FIPS certification process not yet performed on new crypto module. Certified for level Confidential by the Dutch national security agency.

Comments

Hiddn Technology and market positionLe

vel o

f saf

ety

HiddncoCrypt/

KryptoDisk

HiddnSafeDisk/

RAID

Embedded hard drivesUSB storage devicesSoftware encryption solutions

Level of device integrationCircle size indicates market presence

* Self-encrypting drives

Hiddn’s position in the secure data storage marketSoftware encryption is mainly Microsoft BitLocker andApple Filevault, which is embedded in Windows and MacOS

Hardware encryption players can be categorized in twocategories; i) mass-market oriented and ii) security-oriented

The mass-market competitors are typically big data storageplayers who implement some security features in aselection of their product range

Hiddn is a security-oriented supplier historically focusing onniche markets with strict security demands. The technologyis highly scaleable as demand for more secure storage isdriving demand and increasing volumes.

Hiddn uses the same encryption algorithm as most others,but manages the encryption key in a way that is unmatchedby competitors with regards to safety

Hiddn technology prepared to be embedded in storagesolutions and distributed as an OEM product.

Comments

Hiddn’s management and board are committed to taking both company and technology to the next level

Increase sales &

client reach

Build and maintain direct relationships with Key Opinion Leaders with the help of agents Expand turnover through distributor network to serve institutions and large corporatesPursue OEM partnerships

Improve margins

Complement offering

Maintain technological

advantage

Alternative uses of IP

Strategic growth

Complement product offering based on customer demand (e.g., external USB hard drive)Introduce new design to make external products more palatable for corporate and retail users

Complete ongoing R&D projects to improve unit costs of current productsOptimise product engineering to optimise manufacturing

Search for and engage in both mergers and acquisitions ("M&A") as well as joint ventures ("JVs"), focusing on synergistic transactions / partnerships; either entailing complementary technology, companies with existing market presence / distribution network, and/or companies with a profitable revenue base

Seek alternative uses of the core IP (authentication and encrypted key exchange from one secure location to another) within amongst others the Internet of Things (“IoT")

Continue to invest in in a range of technology advancing projects going forwardAcquire complementary technologies either through asset- or corporate transactions

WITH HIDDN’S TECHNOLOGY YOUR INFORMATION IS CONSIDERED SAFE EVEN IF YOUR COMPUTER IS LOST OR STOLEN.

Safeguarding your data anywhere

Thank you

Back-up slides

How the Intel flaw can drive demand for Hiddn IP

The Hiddn HW embedded security solution

*The Netherlands National Communications Security Agency

The Hiddn opportunity on the cloud

Source:

1. Avoid storing sensitive information in the cloud.

2. Read the user agreement

3. Be serious about passwords

4. Encrypt

5. Use an encrypted cloud service

The Hiddn roadmap to secure sharing

1. Safely storing documents on the cloud withsecure key handling and authenticationfrom Hiddn (key protected on the device).

2. Safely sharing documents, laptop to laptop, with Hiddn Safedisc inside

3. Safely storing and sharing documents in «private cloud» or internal server solutionswith secure key handling and authentication from Hiddn CMS system

4. Safely storing and sharing information onpublic cloud with secure key handling and authentication from Hiddn CMS system

Four steps to secure storage and sharing

1

2

3 3

4