Techstep ASA — Share Issue/Capital Change 2016

Jul 5, 2016

Key Information relating to Subsequent Offering in Techstep ASA

Key Information relating to Subsequent Offering in Techstep ASA

Reference is made to the stock exchange announcement by

Techstep ASA ("Techstep" or the "Company", ticker "TECH")

published on 9 March 2016 (as corrected on 10 March 2016)

regarding a private placement of 3,400,000 new shares at a

subscription price of NOK 2.20 per share (the "Private

Placement").

As foreshadowed in such stock exchange announcements, the

Board of Directors, pursuant to an authorization from the 28

April 2016 annual general meeting, has resolved to conduct a

subsequent offering (the "Subsequent Offering") by issuing

up to 678,108 new shares at NOK 2.20 per share, being the

same as the subscription price in the Private Placement.

The Subsequent Offering will be directed towards

shareholders in the Company as of the end of 5 July 2016, as

registered in the VPS on 7 July 2016, who were not given the

opportunity to subscribe for shares in the Private Placement

and who are not resident in a jurisdiction where such

offering would be unlawful or (other than Norway) would

require any filing, registration or similar action (the

"Eligible Shareholders"). Such Eligible Shareholders will be

granted non-transferable subscription rights to subscribe

for, and, upon subscription, be allocated new shares. One

subscription right will entitle the holder to subscribe for

one share in the Subsequent Offering. Oversubscription for

Eligible Shareholders will be allowed. Further details about

the Subsequent Offering will be set out in an Invitation

Letter, which will be provided to the Eligible Shareholders.

The Company is not obliged to and will not prepare a

prospectus in connection with the Subsequent Offering.

The subscription period in the Subsequent Offering will

commence on 11 July 2016 and end on 25 July 2016 at 16:30

CET.

In accordance with the requirements of Oslo Børs, the

following key information is given with respect to the

Subsequent Offering:

Date of announcement of Subsequent Offering: 5 July 2016

Last day including right: 5 July 2016

Ex-date: 6 July 2016

Record date: 7 July 2016

Date of approval: 4 July 2016

Maximum number of new shares: 678,108

Subscription price: NOK 2.20 per share

For more information please contact;

Fredrik Johansson

COO of Techstep ASA

Mobile: +46 70 352 91 90