Techstep ASA - Major Shareholding Notification 2019

Mandatory notification of transfer and large shareholdings

Rugz AS and Sevencs AS have today, 31 May 2019, transferred in aggregate 15,900,874 shares in Techstep ASA

(the "Company") to Karbon Invest AS.

The transfers to Karbon Invest AS are made in connection with establishment of a joint investment company owned

by, inter alia, Rugz AS and Sevencs AS together with Rugz II AS. Rugz AS and Rugz II AS are controlled by primary

insider in the Company and chairman of the board, Jens Rugseth, which again indirectly controls Karbon Invest AS

(Rugz AS and Rugz II AS together holding 61.39% of the shares and votes in Karbon Invest AS). The transfers only

relate to changes to the corporate structure of the ownership of the shares and does not entail a realization of the value of the shares.

As a result of the transfers described above, the following ownership thresholds notifiable by law are passed:

Sevencs AS has transferred 7,945,902, shares in the Company, entailing a reduction of ownership from 5.20% to

0.20%.

Rugz AS has transferred 7,954,972 shares in the Company, entailing a reduction of ownership from 5.00% to

0.00%.

Following the transfer, Karbon Invest AS holds 15,900,874 shares in the Company, comprising 9.99% of the

outstanding shares and votes in the Company.

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