18.3.2022 07:00:00 CET | Ørn Software Holding AS | Non-regulatory press releases

Trondheim, March 18, 2022 - Ørn Software Holding AS has entered into an
agreement with Trøndelag county authority (Norwegian: Trøndelag fylkeskommune)
for the implementation of a cloud based comprehensive facility management system
covering the authority's complete portfolio of real estate - in total 500,000
square meters. 

The contract increases Ørn Software's annual recurring revenue (ARR) with NOK
2.2 million. The duration of the contract is 4 years, with the option to extend
1+1 more years. The delivery of the service will commence in July 2022. In
addition to the recurring revenue, the contract includes implementation
amounting to NOK 4 million. 

"We are happy to be able to strengthen long-term partnership with Trøndelag
fylkeskommune through this contract, confirming the robustness and attractivity
of our solutions for large property owners and managers. The solution represents
a comprehensive tool which allows the authority to get a complete and real-time
situation picture of its real estate portfolio. Management and service personnel
will be able to increase efficiency and make better decisions," said CEO of Ørn
Software Sten-Roger Karlsen. 

Ørn Software's Facilit is at the core of the delivery to Trøndelag
Fylkeskommune, with integration with the building data service BIM2Share and
CleanPilot, a system for planning and reporting of cleaning. 

We are really looking forward to implementing the Facilit solution from Ørn
Software. We have a large real estate portfolio, and Ørn Software's solutions
will give us control of all relevant data and documentation. Our vision is to
collect all information about tenants, activities, contracts, maintenance,
cleaning etc. of our buildings in a central BIM data base built on the IFC
standard, with a user friendly interface and analytics tool layer on top. Ørn
was one of the very few vendors who are able to deliver this," said Rune Venås,
Real estate manager (Norwegian: Bygge- og eiendomssjef) in Trøndelag
fylkeskommune. 

The agreement reinforces Ørn Software's already strong position in the public
and private facility management market. 

"We have high ambitions for growth, and in addition to acquiring Facilit and two
other SaaS companies, we have strengthened our commercial capacity during 2021.
We start to see positive results from these investments and expect organic
growth to accelerate gradually going forward. We will continue to invest in our
sales force in 2022. In addition, we are implementing price adjustments on our
existing contracts, which will give revenue effect during 2022," said Sten-Roger
Karlsen. 

In the period year-end 2017 to year-end 2021 Ørn Software recorded more than 10x
growth in annual recurring revenue including acquisitions and 28 percent annual
organic growth in ARR. 

"Our ambition is to continue to grow rapidly, and we target ARR of NOK 430
million by 2025, up from NOK 220 million as at Q4 2021" said Sten-Roger Karlsen.

CONTACTS

 * Sten-Roger Karlsen, CEO Ørn Software, +47 922 62 321, srk@ornsoftware.com 
 * Vidar Andre Løken, CFO Ørn Software, +47 952 60 926, val@ornsoftware.com 

ABOUT ØRN SOFTWARE HOLDING AS

Ørn Software is a Nordic provider of SaaS solutions enabling efficient
operations and maintenance across a wide range of asset-heavy industries,
including real estate, manufacturing, food & beverages, and aquaculture.

The Group's software provides customers with improved insight through
data-driven operations and contributes to increased efficiency and reduced costs
through digitalization of rental processes, data-driven maintenance scheduling
and energy optimization. All of the above contribute to the lengthening of
property and equipment lifespan, a key component of Ørn Software's value
proposition. Furthermore, the Group's offering enables customers to reduce their
environmental footprint and provides digital tools to meet reporting and
regulatory requirements.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847696/1285/1722/Download%20announcement
%20as%20PDF.pdf