Komplett ASA

Delisting Announcement • May 28, 2021

Correction * Komplett intends to apply for a listing on the Oslo Stock Exchange

Correction * Komplett intends to apply for a listing on the Oslo Stock Exchange

* With attachment

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Komplett intends to apply for a listing on the Oslo Stock Exchange

Oslo/Sandefjord, 28 May 2021, Komplett AS (“Komplett” or the "Company", and together with its consolidated subsidiaries the “Group”) today announces its intention to launch an initial public offering of its shares and to apply for a listing on the Oslo Stock Exchange (the “IPO”).

Please see attachment at www.newsweb.no for full 'intention to float' release.

Komplett is the leading online-first electronics and IT products retailer in the Nordic area with a total operating income of NOK 9.9bn and approximately 1.5 million customers in 2020. Serving consumers and businesses across the Nordics, the Group is deeply focused on delivering best in class customer experience, built through decades of knowhow, expertise and deep customer commitment within electronics and IT products. Komplett offers its products through online channels, operating an efficient and scalable business model that supports cost leadership and enables a competitive product offering. The Group is well-positioned to continue benefitting from a large structurally growing electronics and IT-products market with a growing online share.

The Group is present in Norway (representing approximately 61% of its operating income in 2020), Sweden (approximately 35%) and Denmark (approximately 4%), and operates within the three business segments: "B2C" under the brands Komplett and Webhallen (approximately 62% of its operating income in 2020), "B2B" under the Komplett brand (approximately 13%), and "Distribution" under the Itegra brand (approximately 25%). The Group has its B2C operations in Norway, Sweden and Denmark, while its B2B and Distribution operations are mainly in Norway, although with small scale operations in Sweden.

Group highlights

Successful "back-to-core" strategy since 2018:

(a) Through 2018 and 2019, non-core businesses unrelated to consumer electronics and IT products were carved out from the Group's operations, resulting in the Group again becoming a focused online-first electronic goods and services and IT products business.

(b) As part of the "back-to-core" strategy, and with a renewed management team, the Group has since 2018 focused on improving its customer journey and on leveraging a strong company culture driven by technology enthusiasts combined with commercial acumen to drive strong revenue growth and improved profitability.

The leading online first electronics retailer in the Nordic area with a leading cost position:

(a) The online-first electronics champion in the Nordics, with an estimated 8% market share within the overall Nordic consumer electronics market in 2019, and with a track record of gaining market share across all business segments and geographies during recent years.

(b) With a leading cost position, the Group is well equipped to meet competition from both omni-channel players and new market entrants, while continue offering competitive prices to its customers.

Positioned in large structurally growing markets with increasing online penetration:

(a) The consumer electronics and IT products market in Norway, Sweden and Denmark is estimated by the Company to be NOK 136bn (2020), of which NOK 105bn is in the consumer segment and NOK 31bn is in the business segment. Structural market growth is driven among other by continued technology development and product innovation.

(b) The consumer market is experiencing rapid online migration, and the Company estimates that the online penetration has increased from around 26% in 2016 to 37% in 2020 on the back of, among other, increasing preference for online shopping and introduction of flexible and convenient delivery solutions.

Strong brands, industry leading customer satisfaction and a loyal and growing customer base:

(a) The Group has brands with long heritage and high awareness among consumers and SMEs, on the back of a unique company culture driven by tech enthusiasts.

(b) The Group has an award-winning customer service, and offers a unique community feeling coupled with a relevant product assortment, which has given Komplett a unique position and standing among consumers.

Efficient, scalable and flexible logistics and delivery platform:

(a) Highly scalable logistics set-up with capacity to handle significantly greater volumes – optimised for e-commerce.

(b) Efficient and central fulfilment serving all of Norway and Sweden with same or next day delivery for its most popular products.

Lars Olav Olaussen, Group CEO, commented:

“The Group and its employees truly share its customers’ passion for technology, gaming and ‘funtech’. Consumers love to shop at Komplett for simple reasons - we offer well-known and highly regarded brands, a relevant product assortment and best-in-class customer service and delivery options. We have strong momentum and are focusing on operational excellence to further strengthen our foundation for continued growth and development of our scalable platform. We also expect that the market for consumer electronics and IT products will continue to show attractive growth with Komplett further benefitting from continued online migration. We look forward to offering new shareholders the opportunity to take part in our continued growth journey in Komplett.”

Nils Selte, Chairman of Komplett and CEO of Canica Invest, commented:

“Canica is very impressed by the strong and positive development in Komplett in recent years, which also has continued in 2021. Lars Olav Olaussen and his team has successfully continued a revitalization of Komplett since 2018, refocusing back to consumer electronics and IT-products, a growth market where the Group has a long history, strong market positions and satisfied loyal customers. We believe that Komplett is very well positioned for continued profitable growth and a positive development as a listed company, and we look forward to inviting new investors to join us as shareholders.”

Advisors

ABG Sundal Collier ASA and Skandinaviska Enskilda Banken AB (publ) are acting as Joint Global Coordinators and Joint Bookrunners in the IPO (together the “Joint Global Coordinators”). DNB Markets (part of DNB Bank ASA) and Pareto Securities AS are acting as Joint Bookrunner (together with the Joint Global Coordinators; the “Managers”). Advokatfirmaet Thommessen is acting as legal advisor to Komplett. Advokatfirmaet Schjødt is acting as legal advisor to the Managers. Zynk is acting as communication advisors to Komplett.

Please see attachment at www.newsweb.no for full 'intention to float' release.

For further information, please contact:

Kristin Hovland, Advisor to the CEO and Head of Communication

+47 98 65 28 60

Kristin.Hovland@komplett.com

Krister Pedersen, CFO

+47 95 24 50 37

Krister.Pedersen@komplett.com