Komplett ASA: Agremeent with Resurs Bank

Sandefjord, 31 August 2022: Komplett ASA has entered into an interim factoring agreement with Resurs Bank AB.

At this stage, the agreement encompasses a limited number of customers to the subsidiary Itegra, following periods of strong growth in the Distribution segment.

The agreement is anticipated to have a gradual effect on net working capital as from September. From the end of the fourth quarter, the agreement is expected to yield improvements in net working capital in the range of NOK 300-400 million, provided that a long-term agreement is entered into during the fourth quarter.

The Komplett Group has an existing collaboration with Resurs on the Flex subscripton model launched in 2021.

SIBA Invest AB, a major shareholder of Komplett ASA since April 2022, is also a major shareholder of Resurs Bank AB. For that reason, the agreement has been handled as a related-party transaction and in accordance with the arm’s length principle.

For further inquiries, please contact:

Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com

Krister A. Pedersen, CFO
Krister.Pedersen@komplett.com

About Komplett ASA

Komplett Group is a leading online-first electronics and IT products retailer, operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and distribution markets, the Group is deeply focused on delivering best in class customer experience, built through decades of knowhow, expertise and deep customer commitment. Komplett Group operates an efficient and scalable business model that supports costs leadership and enables a competitive product offering.