Crayon Group Holding — M&A Activity 2021

Oct 11, 2021

Crayon Group Holding ASA: Update on M&A process

Crayon Group Holding ASA: Update on M&A process

Oslo, 11 October 2021 at 08:00 CEST: Reference is made to the announcement by Crayon Group Holding ASA ("Crayon") on 6 July 2021 regarding Crayon having signed a binding agreement with Rhipe Limited ("Rhipe") for an offer to be made to acquire all shares in Rhipe by way of a Scheme of Arrangement ("Scheme").

Crayon is pleased to provide the following update in relation to the Scheme:

- At the Scheme Meeting held today, the rhipe shareholders approved the scheme of arrangement under which Crayon Software Experts Australia Pty Ltd, an indirectly wholly-owned subsidiary of Crayon Group Holding ASA ('Crayon'), will acquire all of the shares in rhipe (the “Scheme”).

- The Scheme remains subject to Court approval in order to be implemented. Rhipe has applied to the Court for orders approving the Scheme at a hearing scheduled for 9:15am (Sydney time) on Wednesday, 13 October 2021 at the Supreme Court of New South Wales.

- Assuming the Scheme is Court approved, Rhipe will on 14 October 2021 lodge a copy of the Court´s order with the Australian Securities and Investments Commission, by which the Scheme will become legally effective and Rhipe will apply for its shares to be suspended from trading on the ASX with effect from close of trade on Thursday 14 October 2021.

- Assuming the completion of the above, the Scheme Implementation Date (the completion of the acquisition) will be 3 November 2021.

For further information, please contact:

Jon Birger Syvertsen

Chief Financial Officer, Crayon Group Holding ASA

Tel.: +47 97 19 92 51

Email: Jon.Birger.Syvertsen@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 2,500 employees in 50 offices worldwide.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.