· Continued ARR growth to NOK 793 million, +44% year-on-year with organic growth
of 18%
  · Revenue +83% to NOK 199 million in Q4 and +126% to NOK 706 million in 2021
  · Reported EBITDA of NOK 59.7 million in Q4 and NOK 105.0 million for 2021
  · Earn-out provisions reversed after downward revision of ARR in Cloudia
  · Adjusted EBITDA of NOK 35.5 million in Q4 and NOK 172.9 million for 2021
  · Current focus on enabling continued strong and profitable growth in the
existing businesses
  · Expecting improved EBITDA-margins in 2022, and solid free cash flow from
2022 onwards
  · On track for more than doubling ARR in existing markets in 2020-2025

Oslo, February 24, 2021: Mercell Holding ASA (Mercell) reports 44% growth in
Annual Recurring Revenue (ARR) to NOK 793 million at the end of 2021, combining
18% organic growth and acquisitions.

Revenue increased by 83% to NOK 199 million in the fourth quarter. Reported
EBITDA was NOK 59.7 million, including special items with a net positive effect
of NOK 24.3 million. Adjusted EBITDA was hence NOK 35.5 million, with an
adjusted EBITDA margin of 18%.

In the current market environment Mercell is putting the M&A strategy on hold
and will rather deploy its resources to enable continued strong and profitable
growth in the existing business.

-Our focus is on profitable organic growth in our five core markets in Norway,
Sweden, Denmark, Finland, and the Netherlands. We will be working to bring both
existing and new customers onto a new and common product platform and expect
this to both save costs and generate new revenue opportunities. We see the
potential to more than double ARR in our existing businesses from 2020 to 2025,
says CEO Terje Wibe in Mercell.

Revenue for the full year 2021 more than doubled to NOK 706 million, with
reported EBITDA of NOK 105.0 million. Adjusted EBITDA was NOK 172.9 million, and
the adjusted EBITDA-margin improved from 22% in 2020 to 24% in 2021.

- We expect our existing businesses to generate continued revenue growth and
improving margins in 2022, and solid free cash flow from 2022 onwards, says CEO
Terje Wibe in Mercell.

CEO Terje Wibe and CFO Fredrik Eeg will host a presentation and Q&A session
today at 08:00 CEST. Please use the following link to access the presentation:

https://streams.eventcdn.net/mercell/q4-2021

The presentation will be followed by a Q&A session with the management.
Questions may be asked in writing during and after the presentation in the
questionnaire below the webcast window.

The report, presentation and the link to the webcast will be made available at:
https://investor.mercell.com

For further information, please contact:

CEO Terje Wibe

Cell: +47 90 83 79 98

Email: terje.wibe@mercell.com

CFO Fredrik Eeg

Cell: +47 90 83 33 78

Email: Fredrik.eeg@mercell.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.