Zalaris - Status of bookbuilding

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

Zalaris - Status of bookbuilding

Oslo, 13 June 2014: Zalaris ASA ("Zalaris" or the "Company") updates the market on the status of the bookbuilding for the Company's initial public offering (the "Offering") of its shares following its application for admission for trading and listing on Oslo Børs, alternatively  Oslo Axess, as announced in 
the  stock exchange release dated 5 June 2014.

The joint bookrunners for the Offering have now registered orders throughout the indicative price range which more than cover the base deal of new 
shares with gross proceeds of up to NOK 50 million and up to 6,195,489 secondary shares as well as the 15% over-allotment option.

The bookbuilding period for the institutional offering runs until 16:30 hours (CET) on 18 June 2014 and the application period for the retail offering 
runs until 12:00 hours (CET) on 18 June 2014, both subject to shortening or extension.

ABG Sundal Collier Norge ASA and Nordea Markets are acting as joint lead managers and bookrunners in connection with the listing and the Offering.

The prospectus for the Offering is, subject to regulatory restrictions in certain jurisdictions, available at www.abgsc.no and www.nordea.no/zalaris. 
Hard copies of the prospectus may also be obtained free of charge by contacting the Company or one of the managers.

Contact persons:

Hans-Petter Mellerud (CEO)
Phone: +47 928 97 276 
Email: hans-petter.mellerud@zalaris.com 

Narve Reiten (Board member)
Phone: +47 924 33 320
Email: nr@reitenco.no

About Zalaris
 
Zalaris excels in delivering comprehensive cloud-based HR and payroll services. The company is certified as an SAP Business Process Outsourcing 
(BPO) Partner and is a leading SAP Human Capital Management (HCM) and SuccessFactors consulting partner. Founded in 2000, Zalaris today operates in Denmark, Estonia, Finland, India, Latvia, Lithuania, Norway, Poland and Sweden, including local-language service centers with extensive expertise in HR-related laws and regulations. Learn more at www.zalaris.com.

Important information:

These materials are not an offer for sale of 
securities.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Hong Kong, Japan or any 
other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

Any offering of securities will be made by means of a prospectus that may be obtained from the issuer or the joint lead managers and that will contain 
detailed information about the company and management, as well as financial statements. This document is an announcement and not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should 
not subscribe for any securities referred to in this document except on the basis of information contained in the prospectus.

In any EEA Member State other than Norway that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.This communication is only being distributed to and 

is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) above together being referred to as "relevant persons"). The securities are onlyavailable to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevantpersons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Matters discussed in this release may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intends," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.

The information, opinions and forward-looking statements contained in this release speak only as at its date, and are subject to change without notice.