Oslo 28.01.2022: Elektroimportøren Holding AS has today signed a Share Purchase
Agreement ("SPA") to acquire 100% of the shares of Elbutik Scandinavia AB and
its sister companies ("Elbutik.se") from Lades AB (the "Transaction").
Elbutik.se is Sweden's largest online player in the market for electric
installation material and related products to private consumers. 

The purchase price to be paid at completion of the Transaction is expected to be
approximately MSEK 235, subject to the audited consolidated EBITDA of Elbutik.se
for 2021 and the net debt and working capital of Elbutik.se at closing. MSEK
182.5 of the purchase price will be settled in cash and the remaining part to be
paid at closing will be settled with shares in Elektroimportøren AS. The
subscription price for the consideration shares will be determined on the basis
of the volume weighted average price of the share of Elektroimportøren AS over
the last five days of trading prior to closing. The consideration shares will
further be subject to a 24-month lock-up period. 

Lades AB will also be entitled to a potential earn-out based on Elbutik.se's
EBITDA for 2022 to 2025, which may bring the aggregate purchase price up to MSEK
292.5
Completion of the transaction is subject to (i) that the extraordinary general
meeting of the Company authorizes the Company's Board of Directors to issue the
consideration shares and (ii) certain other customary closing conditions. The
Company expects to give notice to an extraordinary general meeting during the
course of next week. The agreement is expected to be completed primo Q2 2022.
This acquisition opens up the Swedish market of SEK 15 billion for
Elektroimportøren's concept and provides a solid base for a roll-out of physical
stores.  
Elbutik.se is a dominant online player offering almost 30,000 products to
customers online. They have shown a great development in sales and profits over
the last 10 years. It achieved a total revenue of MSEK 141 and EBITDA of MSEK
14.3 in 2020 and are growing sales and profits in 2021. The excellent
performance of Elbutik.se is driven by the knowledge and enthusiasm of its
employees lead by the founding Svensson family who will continue within the
business going forward.

Andreas Niss CEO of Elektroimportøren comments:
"We are excited about the opportunities that this brings us. Elbutik.se reminds
us of Elektroimportøren in 2014. How they are challenging their market by
offering a wide range of products at reasonable prices to everyone. We see
Elbutik.se as a great platform to start the roll-out of a Swedish omnichannel
player. We believe that by using our retail knowledge and experience from Norway
together with the market and product expertise from Elbutik we have a good
starting point for another successful adventure. We really look forward to start
working together with our new colleagues."

Further information about the acquisition will be given in conjunction with
Elektroimportøren's Q4 presentation February 10th.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17. This stock exchange announcement was published by
Petter Bjørnstad, CFO at Elektroimportøren on 28 January 2022, at 11.50 CET.
For further information please contact:

CEO Elektroimportøren Andreas Niss +4793467067
CFO Elektroimportøren Petter Bjørnstad +4795907788