Highlights from the third quarter 2025:

All-time high recurring revenue annualized and stable profitability

• Recurring revenue annualised increased by 4% y/y to NOK 340m, driven by 17% growth in Advisory & Service
• Net gross profit margin at 37%, up 2 ppt from third quarter last year
• EBITA adj., at NOK 11.0m. affected by investments in efficiency improvements ERP etc.
   

Solid commercial momentum continues

• Agreed new agreement with Sykehuspartner in November, effective from 1 January 2026, for comprehensive management of clinical devices to all hospitals in Helse Sør-Øst RHF
• Signed a strategic partnership with Pradeo in November to deliver a combined MDM and MTD solution for the European market
• Signed final agreement with Fonua in November, with planned roll-out to the first customers in Q4
• The strategic partner agreement with Telia is now operational
• Signed and launched an exciting partnership with welfare ISV Tellu

Sharpening strategic focus

• Potential divestment of a solution area

"In the third quarter of 2025, Techstep maintained steady profitability and demonstrated strong commercial momentum. Recurring revenue continued to rise and ended the quarter on an all-time high, especially driven by our managed services. The company achieved a notable improvement in its profit margins, although adjusted EBITA was lower due to ongoing investments in efficiency, such as ERP and DCOM. Techstep strengthened its market position through several important new and renewed agreements; including Sykehuspartner, Telia, Fonua, Tellu and Pradeo. The company also broadened its European presence by securing key industry certifications. These accomplishments, together with ongoing cost optimization and a strategic focus on high margin recurring revenues, reinforce Techstep's path toward becoming Europe's leading mobile and circular technology company.," says Morten Meier, CEO of Techstep.

Material

Please find the report and presentation for Q3 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/a5677796-a7b9-4f67-a002-4d56a95dd029@56b3dd67-66b5-4d6a-9954-22469dfcf18b

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 2024. 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 Ellen Solum, CFO, Techstep ASA, on 27 November 2025 at 07:00 CET.