(Oslo, Norway, 11 November 2021) Arribatec Group ASA (OSE:ARR, Arribatec) today
reported revenues of NOK 94.4 million in the third quarter of 2021, up 253% from
NOK 26.7 million in the corresponding quarter last year, and an EBITDA of NOK -
13.9 million (0.7). The company has an ambitious international growth strategy,
reiterates the strong outlook, and expects to grow at a rate of +30% to annual
revenue of NOK 550 million in 2022.

"During the third quarter of 2021, our team continued the roll-out of our
international growth strategy with a focus on innovation, building recurring
revenues, and accelerated global cross-sales. Following the implementation of
our M&A strategy in 2021 and our global expansion, we continue to focus on
integrating the acquired companies and on our joint business development
initiatives across the global organization. This has led to several important
wins in southern Europe during the quarter and secures a solid project backlog
going into 2022. Arribatec will have a solid platform for further growth and
development going into 2022, " says Per Ronny Stav, CEO of Arribatec.

Arribatec reported revenues of NOK 94.4 million in the third quarter of 2021
(26.7) and an EBITDA of NOK -13.9 million (0.7). The reported EBIT ended at
negative NOK 22.0 million (-1.0), with recognized recurring revenues of NOK 40.0
million (5.6). The company has NOK 56.1 million in cash at the end of the third
quarter of 2021.

"The third quarter is seasonally a slow period for Arribatec, but our underlying
core heritage business delivered over 30% growth, " Stav adds.

With a customer-centric engagement model, combined with a deep system,
integration, and domain competence, Arribatec builds long-term strategic
partnerships with a broad customer base.

"We will continue to invest in business development and innovation to fuel
organic growth and take advantage of the cross and up-selling opportunities in
the new combined organization The large backlog of projects combined with the
robust pipeline will also require further recruitments. We expect to see the
full effect from these initiatives on the top- and bottom-line early in 2022,
and expects full-year revenue of NOK 550 million for 2022, a 30% growth compared
to estimated 2021 figures, " Stav concludes.

The presentation and the board of directors' financial report for the third
quarter of 2021 are enclosed.

*EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
2021 third-quarter report on page 26.

Arribatec Group ASA will host a presentation of the third quarter financial
results 2021 on Thursday 11 November 2021 at Økern Portal, Lørenfaret 1, at
08:30 CET. The presentation will be streamed live at
https://www.arribatec.com/q3-livesteam/

ENDS

For additional information, please contact:
Per Ronny Stav, CEO, Arribatec Group ASA: +47 994 42 378
Martin Nes, Chairman of the Board, Arribatec Group ASA: +47 920 14 814

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject of the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Geir Johansen, CFO, Arribatec Group ASA, on 11
November 2021 at 07:00 CET.

About Arribatec | www.arribatec.com

About Arribatec | www.arribatec.com Arribatec is a software and consulting
company headquartered in Oslo. With a customer-centric engagement model,
combined with a deep system, integration, and domain competence, Arribatec
builds long-term strategic partnerships with a broad customer base. Arribatec
serves more than 1000 large entities spread over 25 countries and various
industries, both private and public. The company employs over 390 people with
offices in 18 countries and is listed on the Oslo Stock Exchange under the
ticker code ARR.