29.3.2022 17:23:37 CEST | EcoOnline | Non-regulatory press releases

Oslo, 29 March 2022 | EcoOnline AS ("EcoOnline"), a subsidiary of EcoOnline
Holding AS, has today acquired Biome Environmental Ltd., ("Biome" or "the
Company"), a Software as a Service ("SaaS") company specializing in
environmental data monitoring and analysis.

Biome's environmental management and Corporate Social Responsibility (CSR)
software handles Environmental, Social, and Governance (ESG) metrics such as
greenhouse gases, air pollution, and wastewater management. The data points can
be monitored and analyzed to drive environmental compliance and reporting
efficiency with a flexible and user-friendly interface. 

Biome is based in Dublin, Ireland, and has a highly focused and innovative team
of 4 employees. The founder and CEO, Gary Morgan, an ESG subject matter expert
with 15+ years of experience, will be integral to accelerating EcoOnline's ESG
offering in the years to come. The Company has loyal blue-chip customers such as
Intel and Canon and reported an LTM total revenue of MEUR 0.3 and LTM EBITDA of
MEUR 0.1. 

EcoOnline has acquired all shares in Biome for the total amount of MEUR 1.1,
settled at closing by: 

 * MEUR 0.4 in cash, funded with existing cash reserves 

 * MEUR 0.7 in shares in EcoOnline Holding AS at NOK 19.824 per share 

EcoOnline's CEO, Göran Lindö, states: "Our acquisition of Biome reflects a
desire to deliver best-in-class ESG solutions to our customers. Biome's culture
of solving universal ESG problems' bottom up' using technology and expertise is
in line with EcoOnline's philosophy. Combining Biome's deep knowledge of
environmental data gathering and monitoring with our own broader EHS platform
will allow us to expand our ESG offering further. We are very excited for the
year to come, and Biome's excellent team will be a cornerstone of our investment
in protecting workers and the environment." 

"The team at Biome are proud to be joining forces with EcoOnline. We are excited
to join a company that shares our vision of a future where corporate value is
not solely driven by financial value but by the impact value created for
society. Our primary goal has always been to provide our customers with the best
possible tools to shift environmental accounting to the heart of a business.
From the start, it was clear that EcoOnline could enable this at scale - they
care deeply about customer experience, sustainability, and long-term growth. The
potential for growth in the environmental and sustainability software segment is
evolving at pace - it is a fantastic time for Biome to be joining one of the
fastest-growing software companies in Europe. By joining EcoOnline, we can work
together towards a future where sustainability is a standard part of the
business fabric," says Gary Morgan, CEO of Biome. 

The transaction was closed 29 March 2022. The share capital increase, through
the issue of 330,012 new shares in EcoOnline Holding AS at a price of NOK 19.824
per share, was resolved by EcoOnline Holding AS' board of directors pursuant to
a board authorization granted 15 March 2021. 

CONTACTS

 * Siw Ødegaard, CFO and Head of IR at EcoOnline, +47 957 59 848,
   siw.odegaard@ecoonline.com 

ABOUT ECOONLINE

EcoOnline is a European EHSQ SaaS market leader dedicated to developing software
creating safer and more sustainable workplaces while ensuring compliance.
EcoOnline has offered a positive contribution to customers and society since its
inception and is a leader in the Nordics, UK, and Ireland. The company has
experienced strong organic growth over the last years and has also a clear
history of successfully acquiring and integrating companies with the same level
of employee engagement as EcoOnline.