Techstep ASA — Board/Management Information 2021

Aug 25, 2021

PROPOSAL FROM THE NOMINATION COMMITTEE OF TECHSTEP ASA TO THE EXTRAORDINARY GENERAL MEETING OF THE COMPANY TO BE HELD ON 22 SEPTEMBER 2021

The Nomination Committee of Techstep ASA (the "Company") comprises currently of the following individuals:

• Harald Arnet, chairperson of the Committee
• Jonatan Raknes

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 held several meetings prior to publication of the notice of the Extraordinary General Meeting to be held on 22 September 2021.

1 ELECTION OF HARALD ARNET AS NEW BOARD MEMBER

All members of the Board of Directors were elected on the Annual General Meeting in 2021, including the deputy board member. The Nomination Committee proposes that Harald Arnet is elected as board member on the Extraordinary General Meeting. The Nomination Committee believes that Mr. Arnet's experience and competence will strengthen the Board of Directors. A short bio of Mr. Arnet is provided in Appendix 1 attached to this proposal.

If the Extraordinary General Meeting chooses to adopt the proposed resolutions, the Company's Board of Directors will comprise of the following directors:

• Jens Rugseth, with election period up to the Annual General Meeting in 2023;
• Ingrid Elvira Leisner, with election period up to the Annual General Meeting in 2023;
• Anders Brandt, with election period up to the Annual General Meeting in 2023;
• Melissa Mulholland, with election period up to the Annual General Meeting in 2023;
• Harald Arnet, with election period up to the Annual General Meeting in 2023; and
• Jan Haudemann Andersen as deputy board member with election period up to the Annual General Meeting in 2023.

2 REMUNERATION TO THE BOARD OF DIRECTORS

For the period commencing on the Extraordinary General Meeting September 2021 and until the Annual General Meeting in 2022, the Nomination Committee proposes that that the Board of Directors are entitled to a remuneration in accordance with the following:

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

The Nomination Committee recommends that the remuneration will be paid in advance each quarter.

The Nomination Committee believes the current level is similar to that of comparable listed companies in Norway, the Nomination Committee therefore believes that the proposal represents a competitive level of remuneration, corresponding to responsibilities, competence requirements and workload.

Appendix 1

Harald Arnet – Short Bio:

Mr. Arnet holds a master's degree from University of Denver and London Business School and has more than 30 years of experience in national and international finance, industrial and financial investments. Mr. Arnet has had several board positions in listed and non-listed companies, including Kahoot! AS, NRC Group ASA and several companies within the Datum group. Mr. Arnet is the CEO of Datum AS, one of the Company's larger shareholders.