Oslo, 27 February 2026: The nomination committee of Techstep ASA ("Techstep" or the "Company") proposes that Arild Hustad is elected as new chairperson of the Company's board of directors. The current chairperson, Michael Jacobs, has informed the committee that he has accepted to take on the role of CEO of iTeam, a position which will require significant attention, and which may give rise to potential conflicts of interest.

Together with the board, the nomination committee and the board have evaluated alternative chairperson candidates and are pleased to propose Arild Hustad as the new chairperson of the Company's board of directors. The board and the nomination committee wish to express their appreciation for Jacobs' valuable contributions to the Company's development during his tenure as chairperson. Hustad and Jacobs will collaborate to ensure a smooth transition period.

Arild Hustad is a Norwegian citizen living in Oslo, Norway. He is an experienced business leader and investor with extensive experience from executive and board positions in the technology and telecom sector. Hustad has previously held CEO positions in Link Mobility Group ASA, Telecom Management Partner, Network Norway and Tele2 Norway, where he was instrumental in building the company's operations before its acquisition by Telia in 2014. Hustad also has extensive experience from Telenor's national, international and African operations, as well as British Telecom. Hustad holds a degree in Business & Management, an MBA and an LLM.

The nomination committee considers Hustad's profile highly relevant in light of the Company's ongoing strategic transformation towards more recurring, scalable and profitable product offerings. Hustad brings significant experience in strategic leadership, corporate governance and value creation in technology companies, as well as expertise in business development, investment management, digital transformation and capital markets.

Subject to being elected as the new chairperson, Hustad has, through his and his wife's wholly owned investment vehicle Arisona Holding AS (reg. no. 890 778 372), entered into an investment agreement with the Company for the subscription of 458,715 new shares in the Company (the "COB Shares") at a value of NOK 10.90 per share (corresponding to the closing stock price as of Friday 20 February 2026, being the day Hustad agreed to be nominated as the new chairperson of the Company). The subscription of the COB Shares will be based on the "Kruse Smith" model under which the COB Shares are to be subscribed at a price of NOK 2.18 per share, corresponding to 20% of the market value of NOK 10.90 per share, with the remaining 80% constituting a contingent deferred payment obligation as further set out in the investment agreement.

The Company will convene for an extraordinary general meeting (the "EGM") for the approval of the above, including the election of Arild Hustad as new chairperson of the board and the issuance of a board authorization to complete the share capital increase for the COB Shares. The EGM will be held on 23 March 2026 at 15:00 CET at the Company's offices at Brynsalléen 4, 0667 Oslo, Norway.

Please find the notice of the EGM including appendices enclosed. The documents are also made available on the Company's website at www.techstep.io.

For more information, please contact:

Morten Meier, CEO, Techstep ASA: +47 970 57 717

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

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 2,100 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.