Argus Kreditt becomes part of ECIT. Company announcement No. 105.

ECIT AS (ECIT) hereby announce that the Norwegian debt collection company Argus Kreditt AS has become a part of ECIT.

Argus Kreditt delivers services from Hønefoss, and supplementing ECIT`s debt collection and invoicing services in Lillehammer, Oslo and Kolbotn. Argus Kreditt AS had a revenue in 2021 at 7 MNOK with 5 employees.

Argus Kreditt offer services within debt collection, invoice administration and advisory connected to credit management.

- Argus Kreditt is a good add-on to ECIT`s existing services within debt collection, invoicing services and credit management advisory adding a new office location in Southern Norway. We are pleased to welcome employees and customers of Argus Kreditt to ECIT, says Peter Lauring, CEO in ECIT.

ECIT is acquiring 90 % of the shares in Argus Kreditt. The acquisition has been paid partly with cash and partly with treasury shares. Following the completion of the above transaction, ECIT owns a total of 1,852,284 of own shares, corresponding to 0.410 % of ECIT's total registered share capital.

About Argus Kreditt AS

Argus Kreditt AS is a Norwegian debt collection company offering services within
debt collection, invoice administration and credit management advisory. Argus
Kreditt is located in Hønefoss.

About ECIT

ECIT was founded in 2013 and supports a large customer base with Accounting, Payroll and a broad range of IT services and solutions. ECIT has a well-proven model for acquisition and integration, ensuring proximity to customers and local entrepreneurship combined with the strength of being a larger international group. ECIT has a proforma revenue (2021) of 2.55 billion NOK and +2,200 employees across 10 countries. M&A has been a driver of the Company's growth and ECIT has completed more than 125 acquisitions since 2013.

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