Changes to share capital registered. Company announcement No. 53

Reference is made to the stock exchange notice (41) by ECIT AS on 3rd December 2021, with corrections in stock exchange notice (42) by ECIT AS on 6th December 2021.

The amendment to the Articles of Association in relation to the capital increase
of NOK 502,610 was unanimously approved at the Board meeting on
3rd December 2021.

502,610 new Class B shares at par value NOK 1.00 are issued as settlement for a
portion of the consideration for ECIT AS’ exercising of call options in shares
in subsidiaries.

The changes are now registered in the The Brønnøysund Register Centre.

The share capital is increased from NOK 445,455,134 to NOK 445,957,744 by
issuing 502,610 new Class B shares, each with a nominal value of NOK 1.00.

The new class B-shares are valued at NOK 8.84548 per share, total NOK 4,445,827.

The price corresponds to VWAP of ten (10) trading days before the transaction
date less 6,5%. The transaction dates are the dates on which the options were

Shares issued under this transaction is subject to a 12-month lock-up period.  

The shares in ECIT are divided between three share classes and the distribution
of shares is as follows:    

• Class A, 41,336,068 shares.
• Class B, 339,680,393 shares.
• Class C, 64,941,283 shares.

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

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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