Oslo, 27 November 2025 at 07:00 CET: Techstep has entered into a non-binding term sheet regarding a potential divestment of its Business Critical Mobility business (the "BCM Business") to IDnet AB, a subsidiary of Lexit Group AS, (the "Transaction"), with negotiations having progressed to an advanced stage.

The BCM Business was acquired as part of Techstep's acquisition of OptiDev AB in 2021 and represents a market segment separate from the company's core operations. The contemplated divestment aligns with Techstep's intention to streamline operations and sharpen focus on its primary business areas.

"A divestment of the BCM Business allows us to concentrate on what we do best - enabling businesses to operate smartly, securely, and sustainably through mobile technology and managed mobility services. It strengthens our financial position and operational efficiency, while ensuring continuity for customers through a strong partnership. It will also ensure a great home for our customers and employees in BCM, becoming part of Lexit Group that focuses specifically on "rugged" applications and frontline workers" said CEO of Techstep ASA Morten Meier.

"We are excited about the opportunity to acquire the BCM business from Techstep. This business has strong competencies, solutions, and customer relationships that provide for a very natural fit with our existing business and our expansion strategy", said Chairman of Lexit Group AS, Sjur Skjæveland.

The Transaction is expected to be structured as a carve-out of the BCM Business and transferred by way of an asset sale or a share transfer following completion of a carve-out into a newly established company. The parties are in the final stages of the carve-out process, and Agreement is expected to be concluded in December. Completion of the Transaction is subject to satisfactory completion of the ongoing due diligence, execution of a definitive purchase agreement containing customary terms and closing conditions, including completion of the carve-out and regulatory approvals. The parties anticipate that the Transaction will close early Q1-2026, however, no assurances can be given that the Transaction will be consummated as set out in the non-binding term sheet or at all.
The Company plans to apply the Transaction proceeds toward the repayment of its interest-bearing debt and to enhance its financial flexibility to pursue strategic growth initiatives.

For more information, please contact:

Morten Meier, CEO Techstep ASA: +47 970 57 717

Ellen Solum, CFO, Techstep ASA: +47 976 66 717

About Techstep ASA

Techstep is a mobile & circular technology company, enabling organisations to perform smartly, securely, and sustainably by combining mobile devices, software and expertise to meet customers' business and ESG goals. We are a leading provider of managed mobility services in Europe, serving more than 2,100 customers in Europe with an annual revenue of NOK 1.1 billion in 2024. The company is listed on the Oslo Stock Exchange under the ticker "TECH". To learn more, please visit www.techstep.io.

About Lexit Group

Lexit Group is the largest player in the Nordics in the area that Techstep has defined as Business Critical Mobility, i.e., solutions for data capture and digitalization in operations throughout the value chain from production, in warehouse and logistics and in retail. The Lexit Group has expanded significantly over the last few years both through organic growth and acquisitions. The Group has revenue of about 1,7bn NOK and about 300 employees. Techstep's BCM business would become part of Lexit's Swedish subsidiary, Idnet AB.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Ellen Solum, at the time and date set out above.