Techstep ASA - Publication of Prospectus and trading update including Q3 preliminary financial figures

Techstep ASA (the "Company" or "Techstep") has today published a prospectus dated 14 October 2026 (the "Prospectus") in connection with the partly underwritten rights issue of between 83,300,000 and 100,000,000 new shares at a subscription price of NOK 1 per share, raising gross proceeds of between NOK 83.3 million and NOK 100.0 million (the "Rights Issue"). The Prospectus was approved by the Financial Supervisory Authority of Norway on 14 October 2026 and contains, among other information, profit estimates for the third quarter of 2026 and an update on events after the second quarter.

Goodwill impairment

As announced by the Company in its second quarter report, the decline in the Company's share price and market capitalisation following the announcement on 17 July 2026 regarding the bridge financing facility and plans for a rights issue triggered Management and the Board to initiate an impairment indicator assessment.

Based on the above, the Management and the Board have made a preliminary, unaudited assessment of the recoverable amount of Techstep's cash-generating units that indicates that goodwill allocated to each of the Norwegian, Swedish and Polish cash-generating units is impaired, by approximately NOK 150 - 200 million in total. The assessment will be finalised in connection with the interim financial statements for the third quarter of 2026, and the final impairment may differ from the preliminary assessment. An impairment of goodwill is a non-cash item and does not affect Techstep's cash position.

Profit estimates for the third quarter of 2026

In connection with preparation of the prospectus for the Rights Issue, the Company has prepared preliminary figures for the financial period being closed as of the date of the prospectus. The Company expects to report the following unaudited financial figures for the three-month period ended 30 September 2026: total revenues of NOK 165-172 million, net gross profit of NOK 49-55 million, net gross profit margin of 28-33%, EBITA adjusted of negative NOK 2 million to positive NOK 4 million, goodwill impairments of NOK 150-200 million, net loss before tax of NOK 170-215 million, total assets of NOK 665-700 million, total equity of NOK 200-240 million and 179 employees (FTEs).

The ranges reflect that the impairment assessment of goodwill has not been finalised as at the date of the prospectus, which in turn affects certain other preliminary figures. The Company's interim financial report for the three-month period ended 30 September 2026 (Q3) is planned to be published on 11 November 2026.

Potential contract in Germany

Techstep is in ongoing discussions and negotiations with a prospective partner/customer in Germany for an individual contract of a similar nature as the contract regarding delivery of a Sovereign Managed Endpoint Service to one of Sweden's largest public-sector employers, as announced by the Company on 25 September 2026. Commercial terms and volume commitments are being negotiated for an initial phase expected to commence during the fourth quarter of 2026. In parallel, the parties are discussing commercial terms, volumes, exclusivity and the overall scope of potential future ramp-up phases. While no definitive agreement has been entered into and the timing and scope of any such future phases remain subject to ongoing negotiations, the opportunity relates to Techstep's proprietary software platform and could if successfully agreed and implemented, represent a significant commercial opportunity in a market where Techstep currently has limited presence.

The Prospectus is available at: http://www.danskebank.com/techstep

For more information, please contact:

Morten Meier, CEO

+47 97057717

morten.meier@techstep.io

Håvard Haukdal, CFO

+47 48106569

havard.haukdal@techstep.io

About Techstep ASA

Techstep is a mobile & circular technology company, enabling organisations to perform smartly, securely, and sustainably by combining mobile devices, software and expertise to meet customers' business and ESG goals. We are a leading provider of managed mobility services in Europe, serving more than 2,000 customers in Europe with an annual revenue of NOK 1.0 billion in 2025. The company is listed on the Oslo Stock Exchange under the ticker "TECH". To learn more, please visit www.techstep.io.

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