Crayon Group Holding — Earnings Release 2020

May 12, 2020

Crayon Group Holding ASA: Financial results for Q1 2020

Crayon Group Holding ASA: Financial results for Q1 2020

Oslo, 12 May 2020: Crayon Group Holding ASA ("Crayon" or the "Company", OSE ticker code "CRAYON") reports the ninth consecutive record-breaking financial quarter, with double-digit year-over-year ("YoY") organic revenue and gross profit growth across all business areas and market clusters, including the best-ever Q1 performance in the Nordics. Q1 2020 revenue growth was 59% and gross profit growth was 30% compared to Q1 2019.

Adjusted EBITDA in Q1 2020 increased by NOK 5m (compared to Q1 2019) to NOK 41m.

Financial Key figures for Q1 2020:

- Revenue of NOK 4,204m in Q1 2020, 59% growth from NOK 2,639m in Q1 2019

- Gross profit of NOK 515m in Q1 2020, 30% growth from NOK 395m in Q1 2019

- Adjusted EBITDA of NOK 41m in Q1 2020, NOK +5m from NOK 36m in Q1 2019

The interim financial report and presentation for Q1 2020 are enclosed. The report, presentation, and webcast of the presentation will be made available at https://www.crayon.com/en/about-us/investor-relations/

For further queries, please contact:

Torgrim Takle, Chief Executive Officer

Crayon Group Holding ASA

Tel.: +47 95 14 07 82

Email: torgrim@crayon.com

Magnus Hofshagen, VP Corporate Development & IR

Crayon Group Holding ASA

Tel.: +47 48 49 91 95

Email: magnus.hofshagen@crayon.com

About Crayon

Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 1,500 employees in 50 offices worldwide.