Crayon Group Holding — Share Issue/Capital Change 2020

Nov 19, 2020

Share capital increase resolved in connection with employee share incentive program

Share capital increase resolved in connection with employee share incentive program

Oslo, 19 November 2020: The board of directors of Crayon Group Holding ASA (the "Company") has on November 18 2020 resolved to increase the Company's share capital in connection with issuance of 448,070 new shares in connection with a share incentive program for employees in the Company.

In connection with the share incentive program, all employees in the Company and its subsidiaries in which an offer could be lawfully made, have been offered to subscribe for shares in the Company at a subscription price of NOK 85.9 per share. The subscription price is equal to the volume-weighted average share price in the period November 2nd 2020 to November 13th 2020, with a 20% discount. The employees have been offered to subscribe for amounts between NOK 10,000 to NOK 100,000 (all amounts including the 20% discount). In aggregate, 531 employees (including board members) participated in the share incentive program. New shares issued to employees and board members are subject to a lock-up period of 2 years in which the employees cannot sell, dispose of or otherwise transfer shares received under the program.

The board's resolution to issue new shares in connection with the share incentive program is made pursuant to an authorization granted by the Company's annual general meeting on 24 April 2020 to increase the Company's share capital in connection with, inter alia, a share program for all employees in 2020.

In aggregate, the Company's share capital is resolved increased by NOK 448,070 by issuance of 448,070 new shares in the Company, each with a nominal value of NOK 1. The Company's new resolved share capital following the board's resolution is NOK 81,687,519 divided on 81,687,519 shares, each with a nominal value of NOK 1.

The following primary insiders has subscribed for and been allocated shares in connection with the share incentive program:

Jens Rugseth, 5,821 number of shares

Eivind Roald, 5,821 number of shares

Camilla Magnus, 5,821 number of shares

Grethe Viksaas, 5,821 number of shares

Melissa Mulholland, 5,821 number of shares

Nabil Chebbi, 5,821 number of shares

Brit Smestad, 5,821 number of shares

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

For further queries, 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 1,800 employees in 50 offices worldwide.