Press release

Stockholm

October 16, 2016

GomSpace completes acquisition of NanoSpace AB

GS Sweden AB (publ) the parent company of GomSpace ApS, has agreed with the
Swedish Space Corporation (Svenska rymdaktiebolaget, SSC) to acquire 100% of the
shares of NanoSpace AB, a wholly owned subsidiary of SSC. Following a due
diligence investigation, the transaction will be completed tomorrow in
accordance with the Letter of Intent previously signed by both parties, and
communicated on August 19, 2016.

The purchase will be paid for with 600,000 newly issued shares in GS Sweden AB
and with a cash payment of SEK 3,000,000. This new issue of shares will be
decided by the Board of Directors, as authorized by an extraordinary general
meeting held on April 28, 2016. The dilution for the current shareholders will
approximately be 2.75%.

“NanoSpace, with their truly innovative propulsion technology that can position
the satellites in space and a highly talented team, is a key addition for
executing our strategy going ahead,” says Niels Buus, CEO, GomSpace. “The
acquisition supports our stated intent to build a substantial presence in
Sweden, for the dual purpose of expanding our engineering capabilities and for
developing our business.”

NanoSpace develops and provides propulsion technology and products for
nanosatellites, and participates in space technology projects funded by the
European Space Agency (“ESA”) and Swedish national funding programs. GomSpace
and NanoSpace also have an established partnership in several customer projects
where NanoSpace propulsion technology is integrated with GomSpace nanosatellite
platforms.

“As NanoSpace has successfully demonstrated the great potential of its
technology and is now entering  – and enabling – the commercial nanosatellite
market, we are convinced that joining GomSpace is the proper course of action
for NanoSpace going into the next phase,” says Stefan Gardefjord, CEO from SSC.
“Together, we are effectively pushing the envelope for nanosatellites to realise
commercial opportunities, and GomSpace is at the forefront of this new space
industry.”

NanoSpace’s propulsion technology and products are based on its leading
expertise in applying MEMS (Micro Electro Mechanical Systems) technology to
space propulsion and satellite station keeping – providing unique advantages in
miniaturization and precise thrust control.

GomSpace is now targeting commercial nanosatellite projects which involve
constellations of satellites which fly in formation. This requires precise
positioning, which is achieved using propulsion technology and products
developed by NanoSpace.

For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ gomspace.com

About GS Sweden AB

The Company’s business operations are conducted through the wholly-owned Danish
subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace
is a space company with a mission to be engaged in the global market for space
systems and services by introducing new products, i.e. components, platforms and
systems based on innovation within professional nanosatellites. The Company is
listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA
Sweden AB is the Company’s Certified Adviser. For more information, please visit
our website on www.gomspace.com.

This information is information that GS Sweden AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person(s) set out above, at
[23:30] CET on 16th October 2016.