Techstep is pleased to announce that the company has signed a term sheet with a
new bank relation for the refinancing of the company's term loans and credit
facilities. The refinancing package increase total available liquidity with NOK
25 million and restructures the interest-bearing debt, increasing long term debt
by NOK 50 million with a 50/50 five-year amortisation and five-year bullet, in
addition to flexible short term credit facilities.

In addition, Techstep has entered into an agreement with Stobor Invest AB for
the conversion of all remaining seller's credit owed to Stobor into shares in
Techstep. Upon completion of the conversion into shares, Techstep has no
outstanding sellers' credits from previous acquisitions.

Together, this will give Techstep a solid and flexible financial position going
forward.

"These two transactions secure Techstep additional funding and financial
flexibility, which will support strategic priorities and growth opportunities in
the ongoing transformation", says CFO Ellen Solum in Techstep ASA.

The outstanding seller's credit amounted to NOK 14,427,855, which has been
converted from SEK 14,553,011 by using a NOK/SEK exchange rate equal to 0.9914.
The subscription price per new share in the conversion equals NOK 13.70 and the
total number of new shares being issued to Stobor is 1,053,128. The agreed
subscription price reflects the market price per share in Techstep minus a
discount due to the new shares being subject to certain lock-up restrictions in
a 12-month period following conversion.

Based on the above, the board of directors has resolved to issue 1,053,128 new
shares to Stobor at a subscription price of NOK 13.70.

For more information:

Børge Astrup, CEO, Techstep ASA: +47 928 27 676

Ellen Solum, CFO, Techstep ASA: +47 976 66 717

About Techstep

Techstep is a mobile technology company that enables organisations to perform
smartly, securely, and sustainably through combining software, mobile devices
and services to meet customersŽ business and ESG goals. We are a leading
provider of managed mobility services in the Nordics serving more than 2,000
customers in Europe, with an annual revenue of NOK 1.3 billion in 2022. The
company is listed on the Oslo Stock Exchange under the ticker TECH. To learn
more about us, please visit www.techstep.io.