TECHSTEP: ACQUISITION OF A MAJORITY STAKE IN TEKI SOLUTIONS COMPLETED.

Reference is made to the stock exchange notices published by Techstep ASA (“TECH” or the “Company”) on 4 July 2016 and 6 October 2016 regarding the agreement with Teki Gruppen AS (“Teki Gruppen”) to acquire an additional 53.94% of the shares in Teki Solutions AS (the “Teki Gruppen Transaction”). After the Teki Gruppen Transaction TECH will have an ownership of 78.16% in Teki Solutions AS.

The Teki Gruppen Transaction, where TECH acquires 53.94% of the shares in Teki Solution AS from Teki Gruppen AS, has been completed and a total of 30,053,488 consideration shares have been issued, distributed into four equal parts to Skarestrand Invest AS, Dovran Invest AS, Jyst Invest AS and Tinde Industrier AS, following of the demerger of Teki Gruppen AS. Following registration of the issuance of the consideration shares with the Norwegian Register of Business Enterprises, the share capital of the Company is NOK 102,475,577 divided into 102,475,577 shares, each with a par value of NOK 1. The Teki Gruppen Transaction was approved by the Extraordinary General Meeting on 4 November 2016. The consideration shares will not be admitted to trading on Oslo Stock Exchange until the Financial Supervisory Authority has approved, and TECH has published, a prospectus. Pending such approval and publication, the consideration shares will be issued in VPS with a separate and interim ISIN.

Skarestrand Invest AS, Dovran Invest AS, Jyst Invest AS and Tinde Industrier AS will each hold 7,513,372 TECH shares representing 7.3% of the shares and votes in TECH (after registration).

In connection with the completed transaction Middelborg AS has been compensated NOK 1.2 million related to structural and transaction work.

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

For more information, please contact:

Fredrik Johansson, COO of Techstep ASA, Mobile: +46 70 352 91 90