Highlights from the second quarter 2024:

• Recurring revenue annualised slightly up from previous quarter and up 4%y/y
• Net gross profit impacted by lower device volumes and revenue mix
• Continually delivering on cost optimisation

• Several new signings and renewed contracts with key customers and strategic partners
• Improving conditions in Norway and Poland, challenging trend in Swedish markets
• Expanding rugged device and services business through strategic partnership with Consafe Logistics
• Signed agreement with a Nordic Mobile Operator covering Own Software and managed services

• Achieved ISO-certification for information security management (ISO 27001) 
• Upgraded to Gold in EcoVadis' annual sustainability performance rating

"The profitability keeps moving in the right direction and for the seventh consecutive quarter Techstep delivered a positive EBITA adj. We are satisfied with the progress, considering the ongoing turnaround and re-positioning of resources and priorities.

Over the past months, we have strengthened Techstep's indirect and direct sales channels through strategic partner agreements., and Tthe commercial initiatives are starting to show results and we expect them to materialise by the end of this year and into next year. With increased focus on sustainability and circular technology solutions, alongside acceleration of customers' digital transformation, we see great momentum in both our home market and among European mobile and IT service providers. We are steadily progressing towards our ambition of becoming the leading mobile and circular technology company in Europe", says Morten Meier, CEO of Techstep.

Material

Please find the report and presentation for Q2 2024 enclosed.

Presentation and Q&A:

A live presentation and Q&A session will take place today at 8:00 am CEST and can be accessed by clicking and registering using the following link:

https://events.teams.microsoft.com/event/35bb3e83-245f-4b13-8062-3f586725ef0d@56b3dd67-66b5-4d6a-9954-22469dfcf18b

The registration link is also available under the investor section on Techstep's homepage, which can be accessed clicking here (https://www.techstep.io/investor/reports-and-presentations?startDate=2024-04-30&endDate=2025-03-30).

Questions for the Q&A session may be submitted in advance to ir@techstep.no,or live during the session itself. A recording of the Q&A session will be made available on www.techstep.io after the session has concluded.

For more information:

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

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

About Techstep

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 2023. The company is listed on the Oslo Stock Exchange under the ticker TECH. To learn more, please visit www.techstep.io.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Cathrine Birkenes, Head of Sustainability and Compliance, Techstep ASA, on 15 August 2024 at 07:00 CEST.