Webstep — Capital/Financing Update 2017

Sep 26, 2017

Webstep ASA - Publication of prospectus and commencement of bookbuilding and application

Webstep ASA - Publication of prospectus and commencement of bookbuilding and application

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN

OR INTO THE UNITED STATES,

CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE

REGION OF THE PEOPLE'S

REPUBLIC OF CHINA, SOUTH AFRICA OR JAPAN OR ANY OTHER

JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER

RESTRICTIONS ARE APPLICABLE. PLEASE

SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

Webstep ASA - Publication of prospectus and commencement of

bookbuilding and application period for the IPO

Oslo, 26 September 2017: Reference is made to the stock

exchange announcement of 25 September 2017, whereby Webstep

ASA ("Webstep" or the "Company", OSE ticker "WSTEP")

announced the terms of its initial public offering of its

shares (the "IPO").

The prospectus for the IPO (the "Prospectus") was approved

by the Financial Supervisory Authority of Norway on 25

September 2017. The Prospectus is published today, 26

September 2017, and is, subject to regulatory restrictions

in certain jurisdictions, available at www.webstep.com,

www.arctic.com, www.sb1markets.no and

www.sr-bank.no/markets. Hard copies of the Prospectus

may be obtained free of charge from the same date by

contacting one of the Managers (as defined below) or the at

the offices of the Company at Lilleakerveien 8, 0283 Oslo,

Norway.

As announced, the bookbuilding period for the institutional

offering in the IPO will commence today, 26 September 2017

at 09:00 hours (CET) and end on 9 October 2017 at 16:00

hours (CET). The application period for the retail offering

and the employee offering in the IPO will commence today,

on 26 September 2017 at 09:00 hours (CET) and end on 9

October 2017 at 12:00 hours (CET). The bookbuilding period

and the application period may be shortened or extended at

any time.

Arctic Securities AS, SpareBank 1 Markets AS and SpareBank 1

SR-Bank ASA (jointly the "Managers") are acting as joint

global coordinators and joint bookrunners in the IPO.

Advokatfirmaet Thommessen AS acts as legal counsel for the

Company and Reiten and Advokatfirmaet CLP DA acts as legal

counsel for the Managers.

Enquiries

Kjetil Eriksen, CEO Webstep, +47 982 98 008

Anders Løken, CFO Webstep, +47 977 69 200

About Webstep ASA

Webstep ASA and its subsidiaries form the Webstep Group, a

high-end provider of IT consultancy services in Norway and

Sweden. Since its incorporation in 2000, the Webstep Group

has offered IT services designed to address its customers'

software needs by creating functional custom-made digital

tools and applications optimizing the customers' business

strategies. Webstep aims to be at the forefront of the

technological development and to assist its customers in

their digitalisation through the offering of cutting-edge IT

expertise. The Webstep Group's core digitalisation offering

consists of digitisation, cloud implementation, migration

and integration, in addition to its other core focus areas

Internet of Things (IoT), machine learning and analytics. An

important part of the Webstep Group's strategy is to employ

and offer only senior IT consultants with significant

experience. As of 30 June 2017, the Webstep Group employed

393 employees, of which 350 were IT consultants. For more

information visit www.webstep.com

Important Notice

This announcement is not and does not form a part of any

offer for or invitation to sell or issue, or any

solicitation of an offer to purchase or subscribe for any

shares or any other securities nor shall it (or any part of

it) or the fact of its distribution, from the basis of, or

be relied upon in connection with, any contract therefor.

Copies of this announcement are not being made and may not

be published, distributed, transmitted or sent, directly or

indirectly, in or into the United States, Australia, the

Hong Kong Special Administrative Region of the People's

Republic of China, Canada, Japan, South Africa or any other

jurisdiction in which such distribution would be unlawful or

would require registration or other measures.

The securities referred to in this announcement have not

been and will not be registered under the U.S. Securities

Act of 1933, as amended (the "Securities Act"), or any

securities laws of any state or other jurisdiction of the

United States and accordingly may not be offered or sold in

the United States absent registration or an applicable

exemption from the registration requirements of the

Securities Act and in accordance with applicable U.S. state

securities laws. The Company does not intend to register any

part of the offering in the United States or to conduct a

public offering of securities in the United States. Any sale

in the United States of the securities mentioned in this

announcement will be made solely to "qualified institutional

buyers" as defined in Rule 144A under the Securities Act.

Any offering of securities will be made by means of a

Prospectus that will contain detailed information about the

Company and its management, as well as financial statements.

This announcement is an advertisement and not a Prospectus

for the purposes of Directive 2003/71/EC, as amended

(together with any applicable implementing measures in any

Member State, the "Prospectus Directive"). Investors should

not subscribe for any securities referred to in this

announcement except on the basis of information contained in

the Prospectus.

In any EEA Member State other than Norway that has

implemented the Prospectus Directive, this communication is

only addressed to and is only directed at "qualified

investors" in that Member State within the meaning of

Article 2(1) (e) of the Prospectus Directive ("Qualified

Investors"), i.e., only to investors to whom an offer of

securities may be made without the requirement for the

Company to publish a Prospectus pursuant to Article 3 of the

Prospectus Directive in such EEA Member State.

This communication is only being distributed to and is only

directed at persons in the United Kingdom that are (i)

investment professionals falling within Article 19(5) of the

Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005, as amended (the "Order") or (ii) high

net worth entities, and other persons to whom this

announcement may lawfully be communicated, falling within

Article 49(2)(a) to (d) of the Order (all such persons

together being referred to as "relevant persons"). This

communication must not be acted on or relied on by persons

who are not relevant persons. Any investment or investment

activity to which this communication relates is available

only for relevant persons and will be engaged in only with

relevant persons. Persons distributing this communication

must satisfy themselves that it is lawful to do so.

Matters discussed in this announcement may constitute

forward-looking statements. Forwardlooking statements are

statements that are not historical facts and may be

identified by words such

as "believe", "expect", "anticipate", "strategy", "intends",

"estimate", "will", "may", "continue","should" and similar

expressions. The forward-looking statements in this release

are based upon various assumptions, many of which are based,

in turn, upon further assumptions. Although the Company

believes that these assumptions were reasonable when made,

these assumptions are inherently subject to significant

known and unknown risks, uncertainties, contingencies and

other important factors which are difficult or impossible to

predict and are beyond its control. Such risks,

uncertainties, contingencies and other important factors

could cause actual events to differ materially from the

expectations expressed or implied in this release by such

forward-looking statements. The information, opinions and

forward-looking statements contained in this announcement

speak only as at its date, and are subject to change without

notice. The Company does not undertake any obligation to

review, update, confirm, or to release publicly any

revisions to any forward-looking statements to reflect

events that occur or circumstances that arise in relation to

the content of this announcement.

This announcement does not constitute a recommendation

concerning the IPO. The price and value of securities and

any income from them can go down as well as up. Past

performance is not a guide to future performance.

Information in this announcement or any of the documents

relating to the IPO cannot be relied upon as a guide to

future performance. There is no guarantee that the listing on

Oslo Børs will occur and you should not base your financial

decisions on the Company's intentions in relation to the

listing at this stage. Potential investors should consult a

professional advisor as to the suitability of the IPO for

the entity concerned.