Høvik, 1 March: House of Control Group AS (HOC) today announces the closing of
the divestment of non-core business to Cillco Technology AS.

Reference is made to the Oslo Stock Exchange notification from House of Control
Group AS on 27 January 2022 regarding the agreement with Cillco Technology AS.
Cillco takes over on-premises customer contracts outside of the company's core
business, as well as 26 full-time employees from HOC's subsidiary DinERP AS.

As earlier announced, the transaction reduces House of Control's ARR with NOK 14
million and is expected to yield annual cash cost savings of approximately NOK
30 million. This will allow for a positive EBITDA in 2022 and positive Cash
EBITDA in 2023, providing additional headroom for the Company's already fully
funded organic growth plans.

For further information please contact: 

CFO Carl Fabian Flaaten		
Cell: +47 90 04 31 84
Email: carlfabian@houseofcontrol.no	
 
About House of Control:
House of Control develops SaaS (Software as a Service) solutions. These are
digital tools that the CFO can easily apply to improve the performance of the
finance department and - ultimately - the whole company. The CFO toolkit
contributes to at least four important tasks: Cut costs, save time, reduce risk,
and improve compliance - all key ingredients of a better-working finance
department. Private and public enterprises use the software to manage contracts
and assets, comply with IFRS 16 requirements, communicate with suppliers, and
organize procurement. House of Control's strong revenue growth is supported by a
unique salesforce, and approximately 94 percent of sales are annual recurring
revenues.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.