ECIT AS

M&A Activity • Oct 8, 2024

Fornebu, 08 October 2024

ECIT has entered into an agreement to acquire 100% of the shares in the subsidiaries of Qlosr Group AB.

Company announcement No. 259

ECIT AS (ECIT) hereby announce that ECIT has entered into an agreement to acquire 100% of the shares in the subsidiaries of Qlosr Group AB operating within the IT sector in Sweden. The transaction is subject to a successful Due Diligence process, regulatory approval and approval at an extraordinary General Meeting in Qlosr Group AB. Closing announcement can be expected in November 2024.

• The acquisition will strengthen ECIT's competence and customer deliveries within Managed Services and IT supply in Sweden.

We are pleased to welcome customers and employees of Qlosr to ECIT, says Peter Lauring, CEO in ECIT.

The acquisition will be settled in cash.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This stock exchange release was published by Lise Molund, Head of legal on the time and date provided.

For further information please contact

Mads Skovgaard, Group CFO mskovgaard@ecit.com +45 2780 4942

About Qlosr Group

Qlosr Group is an end to end partner in IT Services and IT deliveries in Sweden, with customers in the Private and Public sector. Qlosr Group had 168 employees and a revenue of 311,1 MSEK (6 months) for the first half of 2024. The acquired part of Qlosr will include approx.. 155 employees. Read more on https://qlosr.se.

About ECIT

Founded in 2013, ECIT supports a large customer base with accounting, payroll, and IT services. ECIT has a proven model for acquisitions, combining proximity to customers, local entrepreneurship and the strength of a larger international group. ECIT has a fullyear proforma revenue of 3.8 billion NOK per H1 2024 and more than 2,500 employees across ten countries. M&A has been key to drive the Company's growth as ECIT has completed more than 135 acquisitions since 2013. Read more at www.ecit.com.