Webstep ASA: Change of dividend proposal for the financial year 2019

Oslo, 29 March 2020: Reference is made to the stock exchange announcement by Webstep ASA ("Webstep" or the "Company") on 11 February 2020 regarding the board of director's proposed dividend of NOK 1.60 per share for the financial year 2019, and the stock exchange announcement dated 13 March 2020 regarding the implications of the Covid-19 virus on Webstep's operations.

Due to the ongoing Covid-19 situation and the general uncertainties resulting therefrom, the board of directors has resolved to change its dividend proposal for the financial year 2019 from a fixed dividend to an authorisation to the board of directors to resolve a dividend based on the financial statements for the financial year 2019. The proposed authorisation will be limited to NOK 1.60 per share, equal to the initially proposed dividend, with a term until the annual general meeting in 2021.

Although the Covid-19 virus has not yet had any significant negative implications on Webstep and its operations, it is, as stated in the stock exchange announcement on 13 March 2020, too early to assess the long-term effects of the virus on Webstep with certainty. Given this uncertainty, the board of directors is of the opinion that it is prudent, and in the best interest of the Company and its shareholders, to await further developments before potentially deciding to resolve a dividend for the financial year 2019.

The proposed dividend authorisation will be placed on the agenda for Webstep's annual general meeting to be held on 7 May 2020.

Except for the above-mentioned amended dividend proposal, there are no changes to Webstep's preliminary financial figures for 2019 published on 11 February 2020. As a result of the amended dividend proposal, the key information regarding the previously proposed dividend published on 11 February 2020 is no longer applicable.

Contact details for further information:

Liv Annike Kverneland, CFO

Cell: +47 911 51 110

Email : ir@webstep.com

Website : www.webstep.com

Webstep ASA is a provider of consultancy services to the private and public sector, with the IT expertise necessary to deliver the most demanding digitalisation and IT services.The Webstep Group employs approximately 400 employees in Norway and Sweden. The company offers its services to more than 200 customers annually and has been recognised for its work environment.

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