Oslo, Norway, 14th May 2020

Pexip, a video communications provider, was today listed on the Oslo Stock
Exchange trading under the symbol PEXIP.

Around the world, countries are in lockdown to prevent the spread of the
Covid-19 virus, creating a surge in remote work and unprecedented demand for
video conferencing. Organizations are relying on Pexip’s video platform to
enable business continuity and provide remote patient care like never before. At
the same time, with turbulent economic markets and travel restrictions that
introduce logistical hurdles to conducting a deal, many companies have deterred
launching IPOs at this time. Pexip overcame this barrier by using its own video
conferencing platform to conduct 99 percent of the IPO process -- investor
roadshows, meetings, and book building -- by video. 

Pexip raised 100 MUSD, and the offering was oversubscribed early, showing that
video communication is top of mind for many investors right now. The Company
attracted investors from across Europe and the United States. 

“IPOs usually involve analysts, investment bankers, and company executives
traveling around the world for presentations, creating a hectic and intense
schedule. Conducting this IPO process on video significantly increased the
productivity and the reach of the team. Meetings were conducted with investors
in over 15 cities worldwide and working on video allowed for last minute changes
and flexibility in a packed agenda. The fact that 100% of the virtual 1-1
meetings on the roadshow led to subscriptions to the IPO also demonstrates that
virtual meetings can be just as impactful, even when they involve complex
negotiations," said Odd Sverre Østlie, CEO of Pexip. "Furthermore, our
calculations show that we saved over 1700 hours -- more than 70 days -- of
travel time alone, and over 80 tons of CO2 -- roughly the amount that ten
Norwegians use in an entire year. In conclusion, conducting the process on video
saved time and emissions and made the process much more efficient," said Østlie.


“I would like to thank the outstanding Pexip team, our channel and strategic
partners, and our customers for supporting us in the first part of our journey.
The decision to pursue a listing is a part of our long-term growth strategy and
will fuel investment in our product portfolio, our Pexip team, and brand
awareness efforts. We’re excited to accelerate into the second part of the
journey,” Østlie added. 

“We conducted the first early-look meetings in January and February in-person,
but quickly switched to virtual meetings as travel restrictions and lockdowns
were implemented. Covid-19 has brought about dramatic change for society as a
whole and the ways organizations conduct business, and while we initially
experienced some pushback, the investors and investment bankers quickly adapted.
We have shown that conducting a virtual IPO process is possible, and believe it
makes sense for the finance industry and for IPOs in general. This is the first
time we have held a virtual roadshow, but we would recommend it for the future,
even without lockdown," said Peter Straume, Managing Partner and Chief Executive
of ABG Sundal Collier Norway, one of the joint global coordinators acting on
behalf of Pexip, along with Carnegie and Pareto Securities.

When the opening bell rang today, the entire company took part via video. The
CEO of the Oslo Stock Exchange, Øivind Amundsen, rang the bell at the bourse and
handed it over “virtually” to Pexip CEO, Odd Sverre Østlie, who then rang it
from his office with the entire company and Board joining him in ringing their
own bells on video.
“For us, doing this entirely on video was a natural way of involving the entire
company on the listing day and supports one of our core values, One Team.” said
Michel Sagen, Chairman of the Board.

About Pexip
Pexip simplifies complex video conferencing to empower teams to meet, regardless
of location or technology. Our scalable, cloud-native platform enables
high-quality video meetings, interoperability with Microsoft and Google
solutions, and video system device registration. Customers can deploy Pexip on
their own privately hosted servers, in their own cloud subscription of choice
(Azure, Google Cloud or AWS), as a hybrid, or as a service. With a diverse set
of APIs, Pexip can be customized to fit customers’ unique needs. The solution is
sold through 300 channel partners in 75 countries and used in more than 190
countries.

For questions, please contact:
Øystein Hem, CFO, +47 992 34 596
Gillian Dalslaaen, VP Marketing, +47 40461025 

Important notice: These materials do not constitute or form a part of any offer
of securities for sale or a solicitation of an offer to purchase securities of
the Pexip Holding ASA (the "Company") in the United States or any other
jurisdiction. The securities of the Company may not be offered or sold in the
United States absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The
securities of the Company have not been, and will not be, registered under the
U.S. Securities Act. Any sale in the United States of the securities mentioned
in this communication will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the U.S. Securities Act. No public offering of the
securities will be made in the United States. In any EEA Member State other than
Norway and Sweden, this communication is only addressed to and is only directed
at qualified investors in that Member State within the meaning of the EU
Prospectus Regulation, i.e., only to investors who can receive the
offer without an approved prospectus in such EEA Member State. The expression
"EU Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 (together with any applicable
implementing measures in any Member State). In the United Kingdom, this
communication is only addressed to and is only directed at Qualified Investors
who (i) are investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to
(d) of the Order (high net worth companies, unincorporated associations, etc.)
(all such persons together being referred to as "Relevant Persons"). These
materials are directed only at Relevant Persons and must not be acted on or
relied on by persons who are not Relevant Persons. Any investment or investment
activity to which this announcement relates is available only to Relevant
Persons and will be engaged in only with Relevant Persons. Persons distributing
this communication must satisfy themselves that it is lawful to do so. Matters
discussed in this announcement may constitute forward-looking statements.
Forward-looking statements are statements that are not historical facts and may
be identified by words such as "anticipate", "believe", "continue", "estimate",
"expect", "intends", "may", "should", "will" and similar expressions. The
forward-looking statements in this release are based upon various assumptions,
many of which are based, in turn, upon further assumptions. Although the Company
believes that these assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks, uncertainties,
contingencies and other important factors which are difficult or impossible to
predict and are beyond its control. Such risks, uncertainties, contingencies and
other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements. The information, opinions and forward-looking statements contained
in this announcement speak only as at its date, and are subject to change
without notice. This announcement is made by and, and is the responsibility of,
the Company. The joint global coordinators are acting exclusively for the
Company and no one else and will not be responsible to anyone other than the
Company for providing the protections afforded to their respective clients, or
for advice in relation to the contents of this announcement or any of the
matters referred to herein. Neither the joint global coordinators nor any of
their respective affiliates makes any representation as to the accuracy or
completeness of this announcement and none of them accepts any responsibility
for the contents of this announcement or any matters referred to herein. The
announcement is for information purposes only. It does not purport to be
complete, and it is not to be relied upon in substitution for the exercise of
independent judgment. It is not intended as investment advice and under no
circumstances is it to be used or considered as an offer to sell, or a
solicitation of an offer to buy any securities or a recommendation to buy or
sell any securities of the Company. Neither the joint global coordinators nor
any of their respective affiliates accepts any liability arising from the use of
this announcement. Each of the Company, the joint global coordinators and their
respective affiliates expressly disclaims any obligation or undertaking to
update, review or revise any statement contained in this announcement whether as
a result of new information, future developments or otherwise.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.