Grant of share warrants / Mandatory notification of Trade Primary Insiders. Company announcement No. 171

Reference is made to Company announcement no. 90 on 23 August 2022, where the Board resolved to implement an incentive plan (the "Incentive Plan") for employees, management and board members of ECIT and its subsidiaries, and to Company announcement no. 138 on 28 March 2023, with minutes from the annual general meeting, with an increase in the incentive units.

In connection with the share warrant programme, the following transactions have been made by primary insiders “PDMRs” in ECIT:

Date PDMR Warrants granted
10.07.23 Peter Lauring 495,000
10.07.23 Thomas Plenborg 135,000
10.07.23 Pedro Fasting 84,375
10.07.23 Klaus Jensen 247,500
10.07.23 Espen Karlsen 67,500
10.07.23 Linda Forberg 177,500
10.07.23 Mads Skovgaard 157,500
10.07.23 Cato Holmsen 67,500
10.07.23 Christian Bjørnstad 33,750
10.07.23 Halvor Aspaas 126,000
10.07.23 Morten A. Yttreeide 126,000
10.07.23 Mikkel Walde 126,000

On 10 July 2023, PDMR Mikkel Walde transferred 126,000 warrants to Mikkel Walde Holding ApS, a company closely associated with PDMR Mikkel Walde, at a price of NOK 2.52 pr. warrant.

After the abovementioned transactions, the following PDMRs total number of shares (all share classes), including the shares owned by their closely associated persons, are as follows:

Peter Lauring 42,598,028 shares and 1,045,000 warrants
Thomas Plenborg 2,102,129 shares and 285,000 warrants
Pedro Fasting 752,153 shares and 178,125 warrants
Klaus Jensen 15,076,348 shares and 522,500 warrants
Espen Karlsen 25,000,000 shares and 142,500 warrants
Linda Forberg 1,006,635 shares and 392,500 warrants
Mads Skovgaard 562,500 shares and 332,500 warrants
Cato Holmsen 3,104,362 shares and 142,500 warrants
Christian Bjørnstad 375,000 shares and 71,250 warrants
Halvor Aspaas 3,812,487 shares and 266,000 warrants
Morten A. Yttreeide 350,000 shares and 266,000 warrants
Mikkel Walde 15,814,379 shares and 266,000 warrants

The share warrants will have a strike price of NOK 7.83 per share, based on a volume weighted average price “VWAP” for the last 3 months. The terms for The Warrants Plan are as described in the “Incentive Plan” in Company announcement no. 90.

Warrants have also been allocated to non-PDMRs, according to the terms in the “Incentive Plan” in Company announcement no. 90. The remaining incentive units described in the “Incentive Plan” will be distributed later.

For further information please contact:
Mads Skovgaard, Group CFO
+45 2780 4942

About ECIT
Founded in 2013, ECIT supports a large customer base with accounting, payroll, and IT services. ECIT has a proven model for acquisitions, combining proximity
to customers, local entrepreneurship and the strength of a larger international group. ECIT has a full-year proforma 2022 revenue of 3.1 billion NOK per Q1 2023 and more than 2,400 employees across ten countries. M&A has been key to drive the Company's growth as ECIT has completed close to 140 acquisitions since 2013. Read more at