Techstep ASA — Audit Report / Information 2023

Apr 28, 2023

Munkedamsveien 45 PO Box 1704 Vika 0121 Oslo Norway www.bdo.no

To the Shareholders' Meeting of Techstep ASA

Statement on coverage for restricted equity in connection with a capital reduction - Techstep ASA

We have verified that there is coverage for the remaining share capital and other undistributable equity in connection with the capital reduction in Techstep ASA.

The Board of Directors' responsibility

The Board is responsible for ensuring that the capital reduction does not exceed an amount that will leave full cover for the Company's undistributable equity pursuant to the Norwegian Public Limited Liabilities Companies Act section 12-2.

Auditor's responsibility

Our responsibility is to make a statement on whether there is full coverage for the Company's restricted equity pursuant to the asal section 12-2.

We conducted our examination and issue our statement in accordance with the Norwegian standard SA 3802-1 "The auditor's statements and reports pursuant to Norwegian company legislation". The standard requires that we plan and perform our work to obtain reasonable assurance for the fact that there is coverage for the remaining share capital and other undistributable equity, having considered events subsequent to the balance sheet date and any loss likely to be incurred. The examination includes testing the calculations for which the Board is responsible and an assessment of whether events subsequent to the balance sheet date that can result in an inadequate coverage, have been sufficiently considered.

Opinion

In our opinion, there is coverage for the remaining share capital and other undistributable equity subsequent to the capital reduction of NOK 274 617 963, from NOK 305 131 070 to NOK 30 513 107, in accordance with the Norwegian Public Limited Liability Companies Act.

Oslo, 27 April 2023 BDO AS

Yngve Gjethammer State Authorised Public Accountant

Note: Translation from Norwegian prepared for information purposes only.