Techstep ASA — Regulatory Filings 2022

Jun 15, 2022

Techstep signs SmartDevice agreement with Nortel for all their users

Techstep signs SmartDevice agreement with Nortel for all their users

[Oslo, 15 June 2022]. Techstep has signed an agreement with new customer, Nortel

AS, a challenger in the Norwegian mobile and broadband B2B market, to provide

Techstep Expense, a part of Techstep's managed mobility portfolio, SmartDevice,

to all Nortel's customers and users.

Techstep Expense is a solution to manage mobile subscription costs providing

visibility, control, and certainty for the organisation. Through a defined

mobile policy, the cost is split between company and employee, providing freedom

of mobile usage.

SmartDevice is the complete and sustainable portfolio to help enterprises

integrate and manage all mobile devices from procurement to end of life. Users

are empowered to choose, fix, and replace mobile devices whilst enterprises have

visibility and cost control over their mobile fleet.

All Nortel's customers will have Techstep Expense included in their subscription

plans, commencing from the fourth quarter 2022. The agreement is set to enhance

Nortel's offering and add new benefits to its customers.

Simultaneously, Techstep will become a Nortel distribution partner, offering

Nortel's products to Techstep's customers in Norway, starting from the third

quarter 2022. This extends Techstep's product offering by giving customers more

flexibility and optionality.

"We are very pleased with this agreement. It allows Nortel's customers to

benefit from Techstep's mobile expense management software, while at the same

time giving Techstep's customers the option to buy Nortel's connectivity

products. This will enhance the experience for both companies' customers", says

Techstep's Chief Executive Officer, Børge Astrup.

"As a challenger in the Norwegian B2B market, Nortel has had a strategy of

building a broad partner and distribution network, and the agreement with

Techstep significantly strengthens our competitiveness. The agreement is of

great importance as the collaboration is an extensive two-way model. Techstep

will provide solutions, subscriptions and services from Nortel bundled with

Techstep's quality solutions for mobile device management and MEM solutions. We

are looking forward to the collaboration", says Christian Pritchard, CEO of

Nortel.

Techstep estimates the annual recurring revenue (ARR) value of the agreement to

a minimum of NOK 3 million, with an initial contract period of three years.

About Nortel AS

Nortel is the third largest and fastest growing challenger in the Norwegian

mobile market for companies. Nortel was established in 2019 and listed on

Euronext Growth in the autumn of 2020. A flexible technology platform and a

scalable business model enable the company to drive innovation and at the same

time compete on price. Nortel is headquartered in Ålesund and represented

throughout Norway through dealers and own offices.

For more information please contact:

Børge Astrup, Chief Executive Officer, Techstep ASA: +47 928 27 676

Erik Haugen, Chief Transformation Officer,?Techstep?ASA: +47 967 90 101

About?Techstep?ASA

Techstep is a complete mobile technology enabler, making positive changes to the

world of work; freeing people to work more effectively, securely, and

sustainably. We help customers who want to work smarter, while also delivering

on their ESG commitments. With more than 350 employees based in Norway, Sweden,

Denmark, and Poland, we serve more than 2,000 enterprise customers in Europe.

Techstep had NOK 1.3 billion in full year 2021 revenues, and is listed on the

Oslo Stock Exchange under the ticker TECH. To learn more, please visit

techstep.io (http://www.techstep.io)