ECIT AS

Share Issue/Capital Change • Jul 8, 2022

Fornebu, July 8, 2022

Auto-Flow ApS becomes part of ECIT and an increase of share capital in ECIT AS

Company announcement No. 80

ECIT AS hereby announce that the Auto-Flow ApS, a Danish RPA consultancy company, has become a part of ECIT.

• The acquisition strengthens ECIT competence and customer deliveries within business process automation. We are pleased to welcome customers and employees of Auto-Flow to ECIT, says Peter Lauring, CEO in ECIT.

ECIT is acquiring 50.1 % of the shares in Auto-Flow, with an option to acquire all remaining shares in the company. The acquisition has been settled partly through cash, and partly by issuing new shares in ECIT AS.

About Auto-Flow ApS

Auto-Flow ApS, located in Aarhus, Denmark, provides support and automates business processes using RPA software. Auto-Flow ApS has a staff of 14 consultants and a revenue of 2.7 MDKK for the fiscal year ending 30.09.2021. Read more on www.auto-flow.dk

About ECIT

Founded in 2013, ECIT supports a large customer base with accounting, payroll, and a broad range of IT services. ECIT has a proven model for acquisition and integration, ensuring proximity to customers and local entrepreneurship combined with the strength of a larger international group. ECIT has a proforma revenue (2021) of 2.6 billion NOK and +2,200 employees across 10 countries. M&A has been a key driver of the Company's growth and ECIT has completed more than 125 acquisitions since 2013. Read more at www.ecit.com

Capital Increase

In relation to the acquisition, the board of directors of ECIT AS has resolved to increase the Company's share capital by NOK 86,594 through issue of 86,594 B-shares.

The ECIT-shares are valued at NOK 8.00 per share.

The share capital will be increased from NOK 451,963,900 with NOK 86,594 to NOK 452,050,494.

The distribution of shares will, after the capital increase, be as follows:

A-shares: 41,336,068 B-shares: 343,031,470 C-shares: 67,682,956

For further information please contact

Iselin Paulsen, Head of Communication Mads Skovgaard, Group CFO Iselin.paulsen@ecit.com mskovgaard@ecit.com +47 901 40 166 +45 2780 4942