Columbus — M&A Activity 2016

Jul 6, 2016

Release no. 19/2016

Today, Columbus A/S has concluded a conditional agreement about acquisition of
CSG (Client Strategy Group), an ERP consultancy in the US.

The acquisition of CSG strengthens Columbus’ position in the US market, and is
in line with Columbus’ goal of being recognized as a strategic business partner
that helps customers increase the value of their ERP investment and leads them
in the digital transformation of their business.

CSG is recognized for their specialized competencies and solutions within ERP.
The acquisition of CSG thereby gives Columbus the opportunity to help the
company’s US customers optimize and develop their ERP solution to an even
greater extent.

“We are excited to welcome CSG. Columbus has a clear goal of creating a unique
customer experience and thereby achieving the highest customer satisfaction in
the market, and with CSG’s skills and experience we will be able to serve our
customers even better”, says Thomas Honoré, CEO, Columbus.

CSG, which was founded in 2003, has 19 employees at their office in Cleveland.
In 2015, CSG had a revenue of DKK 33.5m and an EBITDA of DKK 5m.

The agreed acquisition price is DKK 42.9m Enterprise Value +/- regulation of
normalized working capital.

The acquisition is conditional on a few employee related conditions, which must
be confirmed before closing (date of takeover and control) on 15 July 2016. The
conditions for the takeover are expected to be met, and afterwards the final
announcement will be released to the market. The amount to be paid at closing
of the agreement on 15 July 2016 is DKK 34.3m. The remaining amount of DKK 8.6m
is dependent on the agreed earnings targets, and is expected to be paid over
the next two years.

The acquisition is financed by Columbus’ own available funds.

Columbus expects to take over net assets of DKK 3.3m adjusted to fair value at
the acquisition. Hereafter DKK 39.6m is expected to be capitalized as
intangible assets.

The acquisition is expected to contribute with a revenue in the level of DKK
14.3m and EBITDA in the level of DKK 3.5m in the period from 15 July 2016
(closing), when management control is taken over by Columbus, to 31 December
2016.

Columbus maintains the previously announced expctations to revenue in 2016 in
the level of DKK 1.2bn and increases the expectations to EBITDA* in 2016 from
the level of DKK 120m to the level of DKK 124m.

• EBITDA before share based payment

Ib Kunøe Thomas Honoré
Chairman CEO & President
Columbus A/S Columbus A/S
For further information, please contact
Koncernchef Thomas Honoré, T: +45 70 20 50 00.

Translation: In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version.