Oslo, 7 October 2025

Summary
- Signed term sheet and agreed (not signed) SPA with Cloudya AS for the
acquisition of 50% of the shares for NOK 5 million.
- Transaction 100% settled in CodeLab shares at NOK 3.30 per share
- Cloudya is a reseller of AWS services with strong growth momentum, going from
zero to NOK 23 million in ARR in less than 10 months

CodeLab Capital AS ("CodeLab") is pleased to announce that it has reached an
understanding with the owners of Cloudya AS ("Cloudya") to enter into a share
purchase agreement regarding the acquisition of 50% of the shares in Cloudya for
a total consideration of NOK 5 million (the "Transaction"). 

The Transaction forms part of CodeLab's strategy to invest in other companies,
and provide capital, network and operational support. 

"I'm very excited to announce this opportunity, which gives CodeLab exposure to
a company with significant growth potential and a proven ability to execute.
In less than a year, Georg, CEO of Cloudya, and his team have built an AWS
reseller with impressive traction, strong recurring revenues, and a clear focus
on profitability - exactly the kind of business, people and mindset we want to
partner with.
At CodeLab, we invest in great people and help them scale what already works."
- Anton Lorenz Bondesen, CEO, CodeLab Capital AS

The transaction details are expected to be as follows:
- CodeLab acquires 50% of the shares (with the remaining 50% to be held by
Cloudya's existing shareholders). 
- The purchase price is NOK 5 million, to be paid in kind through the issuance
of 1,515,152 consideration shares in CodeLab at Closing, valued at NOK 3.30 per
share. 
- In addition, the sellers are entitled to a delayed payment based on fair
market value 2-4 years from closing.

As part of the transaction CodeLab will consider investing up to NOK 2m in
additional equity into Cloudya to fund further growth initiatives. Such
investment will be done at the same valuation as in the transaction and increase
CodeLab's ownership. 

The Transaction is subject to satisfactory due diligence, certain other
conditions (hereunder signing of definite agreements) and is expected to be
signed in mid-October and closed early November.

About Cloudya

Cloudya is a Norwegian private limited company founded in November 2024. The
founder has a background from providing cloud solutions to enterprises, lastly
with Nordcloud, an IBM company. As a certified Amazon Partner, Cloudya enables
end-customers to achieve favorable pricing and access to high-quality consulting
services.

Cloudya is a dedicated AWS partner focused on helping customers maximize the
potential of their AWS environments. The company's mission is to ensure
customers only pay for what they truly need while getting the most value out of
their cloud infrastructure. With a strong focus on cost efficiency, best
practices, and governance, Cloudya provides Well-Architected Reviews, cost
optimization, and AWS funding assistance to ensure each customer's setup is
secure, scalable, and optimized for performance.

Initially, Cloudya has focused on the Norwegian market, and part of the growth
plan is to expand into other European countries and broaden its service offering
to include cloud security, automation, and FinOps.
Since inception, the company has reached over NOK 23 million in ARR spread
across 35 customers. Cloudya expects to reach NOK 40 million ARR next year, with
a single-digit net margin and a goal of achieving neutral cash flow by the end
of 2026.

2025 marks a milestone year for Cloudya. The company has been approved as one of
the few official Launch Partners for the AWS European Sovereign Cloud (ESC),
highlighting its technical expertise and commitment to compliance. Cloudya was
also named winner of Arrow's AWS Distribution-Led Partner Prospecting League
(DPL), recognizing its outstanding commercial performance, and recently became
an approved Trend Micro MSP/Reseller Partner, strengthening its cybersecurity
and managed services offering.

"We are very excited to welcome CodeLab as the new majority owner of Cloudya.
CodeLab brings infrastructure capital which Cloudya needs, and we share the
ambition and views on the future for the company. We have just started our
commercial journey, and the opportunity is extremely attractive. We aim to
increase the company size substantially over the next few years while at the
same time achieving improved margins. I really look forward to being part of the
CodeLab team, both as an investor and as a key operational stakeholder." says
Georg Pedersen, CEO and founder of Cloudya.

Cloudya is currently owned by Hofsnes Gruppen Holding AS (60%), Stormast AS
(20%), and Salg.co AS (20%).

Advokatfirmaet Schjødt AS is acting as legal advisor to CodeLab in connection
with this Transaction. 

The information in this stock exchange announcement is considered inside
information pursuant to the EU Market Abuse Regulation (MAR) and is published in
accordance with section 5-12 the Norwegian Securities Trading Act. The
information is published at the time and date set out above.