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FIRST QUARTER 2017 RESULTS

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Highlights first quarter 2017

  • Q1 2017 pro forma revenues amounted to NOK 180.3 million (NOK 165.9 million)
  • Pro forma adjusted EBITDA ended at NOK 9.9 million (NOK 0.7 million)
  • Secured contract with an international service company for delivery, management and support of approximately 10,000 AirWatch licenses
  • Raised NOK 100 million through a fully underwritten private placement to finance acquisitions and further growth
  • Acquired the software service company Mytos AS and the remaining shares in Teki Solutions AS and Nordialog Asker
  • Agreed to acquire the telecom mobility hardware company Apro Tele og Data AS and the Swedish enterprise mobility management company InfraAdvice Sweden AB
  • Agreement in principle to establish Techstep Finance, a joint venture with an experienced financing operating partner to prepare for future delivery of MaaS (Mobile as a Service)
  • Marius Drefvelin joined as CFO

Subsequent events

  • Acquisitions of the shares in Apro and InfraAdvice were completed
  • Techstep Finance was formally established
  • Entered into an agreement with Norsk Sykepleierforbund for delivery of MaaS (Mobile as a Service) of 2,650 Apple iPads

“During Q1, Techstep has acquired three companies, both a traditional hardware franchise vendor as well as two solution providers, and established Techstep Finance to enable leasing of hardware and solutions. By combining our existing business with the new acquisitions, we have increased our end-user base and cross-sale potential and with Techstep Finance we are able to deliver Mobile as a Service (MaaS). We believe we have created a platform With substantial potential for solutions upsell on our existing customer base, and are optimistic about our opportunities going forward. Techstep now offers an attractive MaaS solution and have established itsetlf as a leading enabler of the digital workplace in the Nordics” said Gaute Engbakk, Techstep CEO.
“Supported by a solid market position, a pool of competent professionals and committed cornerstone investors, we are ready to
grasp opportunities for growth in a large and expanding Nordic market. Existing and potential new customers appreciate our ambition of making it possible for people to work on any device, anytime and in the context of their daily work situation,” Engbakk added.

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Material:
Please find the report and presentation for the first quarter 2017 enclosed.

Techstep Q1 2017 report
Techstep Q1 017 presentation

Further information from:
Gaute Engbakk, CEO, Techstep ASA: +47 916 33 281
Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690

Techstep ASA – the digital workplace enabler
Techstep is positioning itself as a leading enabler of the digital workplace in the Nordics.

A need for digitizing people’s workday and improve their efficiency of work and mobility between different platforms, drive the demand for Techstep’s offering. Techstep provides the devices (hardware), subscription & connectivity, mobile device management, managed services, support and related software. Our solutions enable access to data and business applications, with high degree of security and operational stability across devices and locations. Through its “one-stop-shop” of integrated solutions, Techstep offers tailored solutions to both the public and private sector. Such combinations are to an increasing extent sold with financing of hardware and solutions, as Mobile as a Service (MaaS).

Techstep has two core business segments: Hardware, represented by Nordialog Oslo and Apro Tele og Data, and Solutions, represented by SmartWorks, Mytos and InfraAdvice Sweden. Techstep, headquartered in Oslo, Norway, has approximately 160 employees based in Norway and Sweden and the company is listed on Oslo Stock Exchange with the ticker code “TECH”.

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