DistIT AB's wholly owned subsidiary EFUEL has studied the market and assesses that there are opportunities for a profiled niche distributor within the electric car infrastructure market with strong customer support for the installers and with attractive software solutions for the end customers.

Therefore, EFUEL intends to launch distribution operations within the electric car infrastructure market in Norway. EFUEL intends to enter into supplier agreements with leading local actors within the electric car infrastructure market in Norway and form a subsidiary in Norway where EFUEL will become the majority owner. The remaining shares in the Norwegian subsidiary will be owned by the employees of the Norwegian subsidiary. EFUEL will have the right to buy out the minority owners after a certain period of time.

The commercial strategy of the distribution operations shall be to focus on selling products and software services to corporate customers (B2B) and to target, among others, electrical installers, electricity companies, real estate companies and retailers.

The Norwegian subsidiary will distribute the same type of products and software services as its parent company EFUEL, including charging boxes, charging cables, equalizers and other accessories for charging boxes. The Norwegian subsidiary is expected to be formed during the second quarter of 2023. Binding agreements with the other shareholders are expected to be entered into during the same period. EFUEL's intention is to commence sales operations in the subsidiary during the second quarter of 2023.