Komplett ASA

M&A Activity • Mar 21, 2022

Komplett ASA: Competition clearance for combination between Komplett and NetOnNet

Komplett ASA: Competition clearance for combination between Komplett and NetOnNet

Oslo, 21 March 2022: Reference is made the to the announcement made on 9

February 2022 regarding the contemplated combination between Komplett ASA

("Komplett" or the "Company") and NetOnNet AB by way of Komplett acquiring all

shares in NetOnNet from its sole shareholder SIBA Invest Aktiebolag (the

"Transaction").

Komplett is pleased to inform that it has received clearance to complete the

Transaction from the competition authorities in Norway and Sweden, respectively,

and that it expects completion of the Transaction to occur during the first half

of April 2022.

For further queries, please contact:

Kristin Hovland, Head of Communication

+47 98 65 28 60

Kristin.Hovland@komplett.com

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation (MAR) Article 7 and is subject to the disclosure

requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Elise Heidenreich, Investor

Relations adviser, at the date and time as set out above.

About Komplett ASA and NetOnNet AB

Komplett Group is a leading online-first electronics and IT products retailer,

operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and

distribution markets, the Group is deeply focused on delivering best in class

customer experience, built through decades of knowhow, expertise and deep

customer commitment. Komplett Group operates an efficiency and scalable business

model that supports costs leadership and enables a competitive product offering.

Founded in 1999, NetOnNet is a leading online-first electronics platform

offering both well known and own brands. Sales are made online as well as

through complementary service centres in Sweden and Norway. NetOnNet is known

for low prices and a passion for making electronics accessible in the most

convenient way possible. The customer loyalty club, Kulbbhyllan, has over one

million members which represent a majority of revenue. Head office and main

fulfilment centre are located in Viared, outside Borås.

Important notice

This release is not for publication or distribution, in whole or in part,

directly or indirectly, in or into Australia, Canada, Japan or the United States

(including its territories and possessions, any state of the United States and

the District of Columbia). This release is an announcement issued pursuant to

legal information obligations for information purposes only and does not

constitute or form a part of any offer of securities for sale or a solicitation

of an offer to purchase securities of the Company in the United States or any

other jurisdiction. The securities of the Company have not been, and will not

be, registered under the U.S. Securities Act of 1933, as amended (the "U.S.

Securities Act"). The securities of the Company may not be offered or sold in

the United States except pursuant to an exemption from the registration

requirements of the US Securities Act. Any sale in the United States of the

securities mentioned in this communication may solely be made to "qualified

institutional buyers" as defined in Rule 144A under the U.S. Securities Act. In

any EEA member state, other than Norway, this communication is only addressed to

and is only directed at qualified investors in that Member State within the

meaning of the EU Prospectus Regulation, i.e., only to investors who lawfully

can receive this information. In the United Kingdom, this communication is only

addressed to and is only directed at Qualified Investors who (i) are investment

professionals falling within Article 19(5) of the Financial Services and Markets

Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are

persons falling within Article 49(2)(a) to (d) of the Order (high net worth

companies, unincorporated associations, etc.) (all such persons together being

referred to as "Relevant Persons"). These materials are directed only at

Relevant Persons and must not be acted on or relied on by persons who are not

Relevant Persons. Any investment or investment activity to which this

announcement relates is available only to Relevant Persons and will be engaged

in only with Relevant Persons. Persons distributing this communication must

satisfy themselves that it is lawful to do so. Any contemplated offering of

securities in the Company referred to in this release will only be made by means

or a prospectus, as per the EU Prospectus Regulation (as implemented under

Norwegian law), or any applicable exemptions from prospectus or other

registration requirements. The expression "EU Prospectus Regulation" means

Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14

June 2017 (together with any applicable implementing measures in any EEA member

state). Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "anticipate", "believe",

"continue", "estimate", "expect", "intends", "may", "should", "will" 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 announcement speak only as at its date and are

subject to change without notice. This announcement is made by, and is the

responsibility of, the Company. Any advisors engaged in connection with the

transactions described herein are acting exclusively for the Company and no one

else and will not be responsible to anyone other than the Company for providing

the protections afforded to their respective clients, or for advice in relation

to the contents of this announcement or any of the matters referred to herein.

No advisor mentioned herein, nor any of their respective affiliates, makes any

representation as to the accuracy or completeness of this announcement and none

of them accepts any responsibility for the contents of this announcement or any

matters referred to herein. This announcement is for information purposes only

and is not to be relied upon in substitution for the exercise of independent

judgment. It is not intended as investment advice and under no circumstances is

it to be used or considered as an offer to sell, or a solicitation of an offer

to buy any securities or a recommendation to buy or sell any securities of the

Company. No advisor mentioned herein, nor any of their respective affiliates,

accepts any liability arising from the use of this announcement. Each of the

Company, the advisors mentioned herein and their respective affiliates expressly

disclaims any obligation or undertaking to update, review or revise any

statement contained in this announcement whether as a result of new information,

future developments or otherwise. The distribution of this announcement and

other information may be restricted by law in certain jurisdictions. Persons

into whose possession this announcement or such other information should come

are required to inform themselves about and to observe any such restrictions.