ECIT AS

Related Party Transaction • Oct 17, 2024

Mandatory notification of trades by primary insiders and close associates

Mandatory notification of trades by primary insiders and close associates

Company announcement No. 264

Reference is made to ECIT AS' ("ECIT" or the "Company") announcement no. 252 of 4 September 2024 regarding the launch of a recommended voluntary offer (the "Offer") from Olympus BidCo AS to acquire all outstanding B- and C- class shares in ECIT against NOK 10 per share settled in cash and/ or share consideration, as further described in the offer document dated 4 September (the "Offer Document").

Reference is further made to the stock exchange announcement no. 262 dated 17 October 2024, regarding the settlement notification for the Offer. As stated in the settlement notification, the settlement will take place no later than 7 November 2024.

The following persons discharging managerial responsibilities in ECIT (the "PDMR") and their closely associated persons (the "PCA"), as listed below, have accepted the Offer to sell all their shares in ECIT to Olympus Bidco AS at a price of NOK 10.00 per share and/or committed to sell or contribute their shares in ECIT to Olympus Bidco AS outside of the Offer at the same price per share. The transactions will be settled partly in cash, and partly by the sellers issuing a vendor loan to be converted to shares in Olympus TopCo AS (reinvestment), as described in Company's announcement No. 252 of 4 September 2024 and the Offer Document.

Seller (PDMR or PCA) PDMR No. of shares sold/ share-class

Peter Lauring Peter Lauring 1,172,000 B-shares

Nykredit Pensjon Peter Lauring 320,000 A-shares

Sophia Katarina GludLauring Peter Lauring 10,000 B-shares

CGL Holding AS Peter Lauring 4,631,128 A-shares

CGL Holding II AS Peter Lauring 36,384,940 A-shares

CGL Holding II AS Peter Lauring 100,000 B-shares

Plenborg Holding ApS Thomas Plenborg 2,093,129 C-shares

Karl Emil Plenborg Thomas Plenborg 9,000 B-shares

Pedro Fasting Pedro Fasting 2,500 B-shares

Fasting & Comrades AS Pedro Fasting 749,653 B-shares

Varner Kapital AS Espen Karlsen 25,000,000 B-shares

Rodvang Holding AS Linda Forberg 1,081,481 B-shares

Mile High Invest AS Cato A. Holmsen 3,104,362 B-shares

Y-Not ApS Klaus Jensen 211,095 B-shares

Y-Not ApS Klaus Jensen 14,840,253 C-shares

Smilla Jensen Klaus Jensen 12,500 B-shares

Elias Jensen Klaus Jensen 12,500 B-shares

Altair AS Christian Bjørnstad 375,000 B-shares

Jes Schjøtler Jes Schjøtler 750,000 B-shares

Mads Skovgaard Mads Skovgaard 562,500 B-shares

Mikkel Walde Holding ApS Mikkel Walde 279,742 B-shares

Mikkel Walde Holding ApS Mikkel Walde 16,776,676 C-shares

Sigrid H. S. Walde Mikkel Walde 6,055 B-shares

Sofus H. S. Walde Mikkel Walde 3,755 B-shares

Sewell AS Halvor S. Aspaas 4,851,139 B-shares

Yttreeide AS Morten A. Yttreeide 380,000 B-shares

Please see the enclosed forms for further details about the transactions.

After the abovementioned transactions, no PDMRs or PCAs own any shares in ECIT. However, PDMRs, including PCAs, hold the following number of warrants to shares in ECIT (the "Warrants"):

PDMR (incl. PCA) No. of Warrants

Peter Lauring 1,540,000

Thomas Plenborg 420,000

Pedro Fasting 262,500

Espen Karlsen 210,000

Linda Forberg 535,000

Cato Andreas Holmsen 210,000

Klaus Jensen 770,000

Christian Bjørnstad 105,000

Mads Skovgaard 490,000

Mikkel Walde 490,000

Halvor Sewell Aspaas 376,000

Morten André Yttreeide 376,000

For description of “Warrants”, reference is made to Company announcement no. 90 regarding incentive plan.

For further information please contact

Mads Skovgaard, Group CFO

mskovgaard@ecit.com

+45 2780 4942

About ECIT

Founded in 2013, ECIT supports a large customer base with accounting, payroll, and IT services. ECIT has a proven model for acquisitions, combining proximity to customers, local entrepreneurship and the strength of a larger international group. ECIT has a full-year proforma revenue of 3.8 billion NOK per H1 2024 and more than 2,500 employees across ten countries. M&A has been key to drive the Company's growth as ECIT has completed more than 135 acquisitions since 2013. Read more at www.ecit.com.

This information is subject to the disclosure requirements in Regulation EU

596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities

Trading Act.