Techstep ASA — Earnings Release 2026

May 13, 2026

Techstep ASA: Q1 results

Techstep ASA: Q1 results

Highlights from the first quarter 2026:

Laying the groundwork for the "New Techstep"

· Successful carve-out and divestment completed 2 February 2026

· Decisive cost-base reductions and right sizing the organisation

· Implementation of one ERP system to drive operational efficiency and reduced

cost

· New and improved backbone powered by AI & Automation & new commerce platform

to increase speed and scalability

· Subsequent to Q1 and in early May, a new financing agreement was agreed with

Danske Bank for a RCF of NOK 45 million and overdraft facility of NOK 25 million

· In addition to the bank facilities, there are outstanding subordinated

shareholder loans of NOK 35 million, securing financial flexibility for Techstep

as we move forward

Solid commercial momentum continues

· Executed on key strategic wins signed in late 2025, with the new

comprehensive agreement with Sykehuspartner effective from 1 January 2026 and

ramp-up progressing despite some delivery phasing

· Prepared for large-scale public sector rollout in Spain following the

Generalitat de Catalunya engagement, with confirmed project start and first

recurring revenue accruals towards quarter-end, covering up to 80.000 devices

though our partner Vodafone Spain

· Progressed scaling of the partner ecosystem, with continued onboarding

activity across existing partners and improved commercial execution through a

more focused post-divestment organisation

· Maintained solid momentum in core software platforms, supported by continued

traction in Essentials and Lifecycle across both direct and indirect channels,

growing 17% y/y

· Sustained strong Nordic positioning in managed mobility services, with

ongoing focus on margin-led growth and increased share of higher-margin

recurring services

· Device deliveries commenced for Helse Midt-Norge from March and through Q2.

At the same time, we experience somewhat delaying rollout in the health sector,

but expect to pick up momentum during the next quarters

Q1 quarter impacted by decreased NGP while Inflation and one-off ERP project

costs in period are offset by realized cost cuts and efficiency improvements

· Total revenues of NOK 219.4 million, down 12% y/y, affected by BCM

divestment

· Net gross profit at NOK 57.8 million, down 33% y/y, affected by BCM

divestment, termination of legacy Telecom Expense solution, one-off consultancy

in Q1 previous year and delays in health service deliveries

· EBITA adjusted at NOK -11.5 million affected by one-off costs related to ERP

implementation, largely offset by right-sizing of organization and realized cost

cuts

"Q1 marks a transformational quarter towards a more focused and optimised

Techstep. Following the successful divestment completed on 2 February 2026, we

have continued the work to reshape the company into a leaner, more scalable

organisation. While the quarter was impacted by delays in Health service

deliveries and the termination of a legacy Telecom Expense contract, our

decisive cost-base reductions and efficiency initiatives are progressing as

planned.

At the same time, we maintained solid commercial momentum with strengthened

partnerships in Europe and continued traction in the Nordics - supported by our

mobile-first strategies across industries. With a stronger backbone powered by

AI and automation, and continued platform growth in Essentials (management &

security) and Lifecycle (asset lifecycle management), we are building the

foundation to accelerate growth, improve margins, and realise the full potential

of our scalable software and services portfolio," says Morten Meier, CEO of

Techstep.

Material

Please find the report and presentation for Q1 enclosed.

Presentation and Q&A:

A live presentation and Q&A session will take place today at 8:00 am CEST and

can be accessed by clicking and registering using the following link:

https://events.teams.microsoft.com/event/3c0b0ae5-9875-44c9-8001

-c3f941c2b1df@56b3dd67-66b5-4d6a-9954-22469dfcf18b

Questions for the Q&A session may be submitted in advance to ir@techstep.io, or

live during the session itself. A recording of the Q&A session will be made

available on www.techstep.io after the session has concluded.

For more information:

Morten Meier, CEO, Techstep ASA: +47 97057717

Håvard Haukdal, CFO, Techstep ASA: +47 48106569

About Techstep

Techstep is a mobile & circular technology company, enabling organisations to

perform smartly, securely, and sustainably by combining mobile devices, software

and expertise to meet customers' business and ESG goals. We are a leading

provider of managed mobility services in Europe, serving more than 2 000

customers in Europe with an annual revenue of NOK 1.0 billion in 2025. The

company is listed on the Oslo Stock Exchange under the ticker TECH. To learn

more, please visit www.techstep.io.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act. This stock exchange

release was published by Håvard Haukdal, CFO, Techstep ASA, on 13 May 2026 at

07:00 CET.