Grant of share options

The Board of Directors of Techstep ASA ("Techstep" or the "Company") has approved the award of 4,500,000 share options to the Børge Astrup, who will become the new CEO from 1 August 2021. The share option award is subject to the approval of an extraordinary general meeting of Techstep, which is expected to be held in September 2021.

The options vest in three tranches with 1/3 per tranche, on 01.09.2024, 01.09.2025, and 01.09.2026 ("Vesting Date"). The respective dates are based on the assumption that Børge Astrup will commence his position in the Company at the latest on 01.09.21. The exercise period is two years from the applicable Vesting Date. The strike price is NOK 4.75, NOK 5.75 and NOK 6.75 for the respective tranches. If the average, weighted Techstep share price for seven calendar days exceeds NOK 30 per share, then the Company may require that all vested options are exercised by Børge Astrup.

Following the grant, Børge Astrup holds in total 4,500,000 share options and 32 396 shares (through Giraff AS) in the Company.

Following this, Techstep has 209,629,830 issued shares, and 11 770 010 issued share options.

For more information, please contact:

Marius Drefvelin, CFO and interim CEO, Techstep ASA: +47 958 95 690

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

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