Techstep ASA — Share Issue/Capital Change 2017

Apr 3, 2017

TECHSTEP ASA - FLAGGING AND NOTIFICATION OF MANDATORY TRADES

TECHSTEP ASA - FLAGGING AND NOTIFICATION OF MANDATORY TRADES

Zono Holding AS ("Zono") has decided to transfer 59,706,959 shares

in Techstep ASA ("TECH") to its shareholders as distribution in kind

in connection with completion of a share capital reduction. The

distributions will be effected as soon as practically possible after

the decision to complete the share capital reduction has been

registered in the Central Register of Business Enterprises

(Foretaksregisteret). No consideration will be paid for the shares.

After the transfers, Zono will hold 3,000,007 shares in TECH,

representing 2.24% of the shares and the votes.

Middelborg Invest AS ("Middelborg"), a company wholly-owned by

Kristian G. Lundkvist (through Middelborg AS), member of the board

of directors of TECH, will receive 25,525,228 shares in TECH, and

will thereafter hold 26,402,421 shares in TECH, representing 19.0%

of the shares and the votes (including shares received in connection

with completion of tranche 2 in the private placement announced by

TECH on 2 February 2017 ("Tranche 2 in the Private Placement")). The

number and percentages of shares and votes include a transfer of

2,925,936 shares from Middelborg that will take place in connection

with the share capital reduction in Zono, as settlement of a

commitment related to the establishment of Zono. The (implicit)

share price will be NOK 4.99 per share.

Datum AS will receive 15,720,370 shares, and will thereafter hold

30,079,142 shares in TECH, representing 21.6% of the shares and the

votes (including shares received in connection with completion of

Tranche 2 in the Private Placement).

Cipriano AS, a company wholly-owned by Einar J. Greve, chairman of

the board of TECH, will receive 2,774,182 shares, and will

thereafter hold 3,651,375 shares in TECH, representing 2.6% of the

shares and the votes (including shares received in connection with

completion of Tranche 2 in the Private Placement). In addition,

Cipriano AS has, as previously announced, the right to acquire

3,000,000 Techstep shares from Zono Holding AS.

Duo Jag AS, a company owned by Ingrid E. Leisner, member of the

board of directors of TECH, together with her husband, will receive

554,834 shares, and will thereafter hold 554,838 shares in TECH,

representing 0.40% of the shares and the votes.

Antares Group AS, a company wholly-owned by Gaute Engbakk, CEO of

TECH, will receive 554,838 shares, and will thereafter hold 554,838

shares in TECH, representing 0.40% of the shares and the votes.

This notification is made with reference to section 4-2 and 4-3 of

the Norwegian Securities Trading Act.