Techstep ASA — Earnings Release 2017

May 11, 2017

Techstep ASA: First quarter 2017 results

Techstep ASA: First quarter 2017 results

Highlights first quarter 2017

- Q1 2017 pro forma revenues amounted to NOK 180.3 million

(NOK 165.9 million)

- Pro forma adjusted EBITDA ended at NOK 9.9 million (NOK 0.7

million)

- Secured contract with an international service company for

delivery, management and support of approximately 10,000 AirWatch

licenses

- Raised NOK 100 million through a fully underwritten private

placement to finance acquisitions and further growth

- Acquired the software service company Mytos AS and the

remaining shares in Teki Solutions AS and Nordialog Asker

- Agreed to acquire the telecom mobility hardware company Apro

Tele og Data AS and the Swedish enterprise mobility management

company InfraAdvice Sweden AB

- Agreement in principle to establish Techstep Finance, a

joint venture with an experienced financing operating partner to

prepare for future delivery of MaaS (Mobile as a Service)

- Marius Drefvelin joined as CFO

Subsequent events

- Acquisitions of the shares in Apro and InfraAdvice were

completed

- Techstep Finance was formally established

- Entered into an agreement with Norsk Sykepleierforbund for

delivery of MaaS (Mobile as a Service) of 2,650 Apple iPads

"During Q1, Techstep has acquired three companies, both a

traditional hardware franchise vendor as well as two solution

providers, and established Techstep Finance to enable leasing of

hardware and solutions. By combining our existing business with the

new acquisitions, we have increased our end-user base and cross-sale

potential and with Techstep Finance we are able to deliver Mobile as

a Service (MaaS). We believe we have created a platform with

substantial potential for solutions upsell on our existing customer

base, and are optimistic about our opportunities going forward.

Techstep now offers an attractive MaaS solution and have established

itsetlf as a leading enabler of the digital workplace in the

Nordics" said Gaute Engbakk, Techstep CEO

"Supported by a solid market position, a pool of competent

professionals and committed cornerstone investors, we are ready to

grasp opportunities for growth in a large and expanding Nordic

market. Existing and potential new customers appreciate our ambition

of making it possible for people to work on any device, anytime and

in the context of their daily work situation." Engbakk added.

Material:

Please find the report and presentation for the first quarter 2017

enclosed.

Further information from:

Gaute Engbakk, CEO, Techstep ASA: +47 916 33 281

Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690

Techstep ASA - the digital workplace enabler

Techstep is positioning itself as a leading enabler of the digital

workplace in the Nordics.

A need for digitizing people's workday and improve their efficiency

of work and mobility between different platforms, drive the demand

for Techstep's offering. Techstep provides the devices (hardware),

subscription & connectivity, mobile device management, managed

services, support and related software. Our solutions enable access

to data and business applications, with high degree of security and

operational stability across devices and locations.

Through its "one-stop-shop" of integrated solutions, Techstep offers

tailored solutions to both the public and private sector. Such

combinations are to an increasing extent sold with financing of

hardware and solutions, as Mobile as a Service (MaaS).

Techstep has two core business segments: Hardware, represented by

Nordialog Oslo and Apro Tele og Data, and Solutions, represented by

SmartWorks, Mytos and InfraAdvice Sweden. Techstep, headquartered in

Oslo, Norway, has approximately 160 employees based in Norway and

Sweden and the company is listed on Oslo Stock Exchange with the

ticker code "TECH".