Techstep ASA — Earnings Release 2016

Feb 28, 2017

Techstep ASA: Fourth quarter and preliminary annual results 2016

Techstep ASA: Fourth quarter and preliminary annual results 2016

During the fourth quarter 2016, Techstep has positioned itself as a

leading provider of the digital workplace in the Nordics, delivering

integrated enterprise mobility solutions.

Highlights fourth quarter 2016

- Acquisition of Nordialog and SmartWorks, a the B2B providers

of mobility and communication services

- Established a new organization with a new management team and

new Board of Directors

- Q4 2016 revenues amounted to NOK 162.3 million and NOK 573.2

million for the year 2016

- Adjusted EBITDA ended at NOK 2.4 million, reflecting a

quarter with focus on restructuring and M&A. Adjusted EBITDA for the

year ended at NOK 13.1 million

- Q4 2016 EBITDA as reported ended negative at NOK 1.3 million,

impacted by driven by Nordialog's operations and deduction of group

one-off costs related to the transformation process Techstep is

experiencing. For the year 2016, EBITDA as reported ended negative at

NOK 4.4 million

Highlights YTD 2017

- Acquisition of the software service company Mytos AS and

agreement in principle to acquire the telecom mobility hardware

company Apro Tele og Data AS

- Established Techstep Finance, a joint venture with an

experienced financing operating partner, a vital part in Techstep' s

future delivery of MAAS (Mobility-as-a-Service)

- Successfully completed a fully underwritten private placement

of NOK 100 million to finance acquisitions and further growth

CEO comment:

"During the fourth quarter last year and moving into 2017 we have

taken significant steps forward in positioning Techstep as the

leading provider in the Nordics of the digital workplace, delivering

integrated enterprise mobility solutions" said Gaute Engbakk, CEO of

Techstep ASA, adding "We aim to become a fully integrated digital

solutions provider to our customers, and through that to increase the

revenue from hardware, solutions and service".

Material:

Please find the report and presentation for the fourth quarter 2016

enclosed.

Further information from:

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

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

Techstep ASA

Techstep has established itself as a leading B2B provider of mobility

and communications services in Norway. Digitization of society and

business is changing the mentality of the telecom industry as well as

the organizations and people it serves. Focus is moving from

infrastructure and devices to value adding services. This creates new

market opportunities, and Techstep, along with its subsidiaries, are

building and expanding their market offerings to become the preferred

digital workplace vendor. The strategy for building the solutions

platform is through organic innovation, acquisitions and partnerships

with an aim to become a fully integrated digital solutions provider.

In pursuit of the growth strategy, Techstep is backed by strong

investors known for creating value through transformation.

Techstep has two main business segments: Hardware, represented by

Nordialog, and Service, represented by SmartWorks. Both companies are

subsidiaries of Teki Solutions, which is controlled by Techstep.

Nordialog is the global mobile operator Telenor's key distribution

channel of devices and mobile subscriptions to the Norwegian business

segment.