Techstep ASA — AGM Information 2023

Apr 28, 2023

Proposal from the nomination committee of Techstep ASA to the annual general meeting to be held on 23 May 2023

The nomination committee of Techstep ASA comprises Kyrre Høidalen (chair) and Jonathan Raknes.

Kyrre Høidalen was elected at the Company's extraordinary general meeting (EGM) on 22 September 2021, while Jonatan Raknes was re-elected at the annual general meeting (AGM) on 22 April 2021.

Pursuant to the Company's articles of association, the Nomination Committee shall propose candidates for election to the Board of Directors and propose the remuneration to be paid to the members of the Board. The Nomination Committee has met prior to the publication of the notice of the annual general meeting to be held on 23 May 2023.

In connection with the annual general meeting of Techstep ASA to be held on 23 May 2023, the nomination committee submits the following unanimous proposal:

1. Election of directors to the Board of Directors

Pursuant to the company's articles of association, the board shall consist of three to seven board members. The current board has the following directors: Michael Jacobs (chair), Harald Arnet (board member), Ingrid Leisner (board member), Melissa Mulholland (board member), Jens Rugseth (board member) and Jan Haudemann-Andersen (deputy board member), all elected by the shareholders.

All members of the Board of Directors are up for election at the annual general meeting in 2023. The nomination committee proposes that the following board members are re-elected for a term of two years, until the annual general meeting in 2025:

• Michael Jacobs, as Chairman of the Board
• Harald Arnet, as Board member
• Ingrid Leisner, as Board member
• Melissa Mulholland, as Board member
• Jens Rugseth, as Board member

2. Election of members to the nomination committee

The nomination committee has two members, Kyrre Høidalen (chair) and Jonathan Raknes, which both are elected until the annual general meeting in 2023. The nomination committee proposes that Kyrre Høidalen (chair) and Jonathan Raknes are re-elected in the position for a period of two years.

3. Remuneration to the Board of Directors

The nomination committee proposes that the following fees are paid to the Board for the period from the annual general meeting 2023 until the annual general meeting 2024:

• Chairman: NOK 500,000 per year
• Board member: NOK 250,000 per year

Members of the remuneration committee are entitled to additional remuneration fees of:

• Chair of the audit committee: NOK 70,000 per year
• Member of the audit committee: NOK 50,000 per year

The nomination committee recommends that the remuneration will be paid in advance each quarter.

The nomination committee believes the proposed remuneration levels are similar to that of comparable listed companies in Norway, and that the remuneration fees are competitive with respect to responsibilities, competence requirements and workload.

4. Remuneration to the nomination committee

The nomination committee proposes the following fees for the members of the nomination committee:

• Chair of the nomination committee: NOK 15,000
• Member of the nomination committee: NOK 10,000.

Oslo, 25 April 2023 On behalf of the nomination committee of Techstep ASA

Kyrre Høidalen