Mercell implementing cost cuts with 2022 effect of NOK 50 million  

Oslo, Norway, 4 April 2022. The Board of Directors of Mercell Holding ASA has
approved a cost cutting initiative designed to reduce the group's operating
costs in 2022 by approximately NOK 50 million and lower the cost base by
approximately NOK 75 million on an annual basis. The company has stated that it
will generate positive cash flow in 2022, and these measures will further
increase the company's cash generation.

The initiatives primarily reflect an acceleration of integration work following
a string of acquisitions over the past years, seeking to eliminate redundant and
overlapping job functions across the different companies within the group. The
initiative will commence in April 2022, with gradual effect through 2022.

-Mercell is currently focusing on delivering profitable growth by realising
synergies through integration, platform consolidation and implementation of best
practices. The cost cutting initiative aims to streamline company operations,
and this is a natural next step in the strategy to utilise the scale benefits we
have built over the last years, says CEO Terje Wibe.

The cost cuts will affect approximately 40 employees. As part of these measures,
the post-award area will be reorganised to enable more efficient use of current
resources across markets. Sales activities will in the short-term focus on
Norway and Denmark in addition to an expansion to Sweden.

- Our long-term growth strategy remains intact, although we are adjusting our
cost level to strengthen our cash flow and position the company for profitable
growth in line with our targets.
These initiatives add further financial flexibility and robustness to pursue our
growth ambitions, says Chairman Joar Welde.


For additional information, please contact: 
 
CEO Terje Wibe  
+47 908 37 998  
terje.wibe@mercell.com 
 
Chairman of the Board Joar Welde 
+47 982 06 930
joar.welde@vikingventure.com
  
About Mercell Holding: 
Mercell delivers services to public and private buyers and our goal is to become
the leading software-as-a-service (SaaS)-platform for e-tendering and
procurement in Europe. Mercell is already a leading platform for public
e-tendering and entered the procurement market in 2020, and services
approximately 30,000 customers across 15 European markets and in the US.
Mercell's unique marketplace simplifies the tender and procurement process and
makes it safe and easy for buyers to find relevant suppliers for their tenders
and daily purchasing needs. We also ensure suppliers find relevant business
opportunities and offer tools for suppliers to digitally receive and handle
purchases from public and private buyers. 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Erik Hokholt, CFO at Mercell
Holding ASA on 3 April 2022 at 10pm CEST on behalf of the Company.