Catacloud becomes part of ECIT. Company announcement No. 62

ECIT is pleased to announce that the Norwegian software company Catacloud AS has
become a part of ECIT. The acquisition strengthens ECIT`s position within accounting
software in Norway and is a good fit within ECIT`s digital development.

ECIT is acquiring 50.1 % of the shares in Catacloud while management holds a 49.9%
minority ownership. The acquisition has been settled in cash.

- We are pleased to welcome Catacloud to ECIT. Catacloud`s modern ERP system for
business administration offers a scalable and modern platform for customers in the SME
segment. We are pleased to welcome Catacloud’s customers and employees to ECIT,
says Peter Lauring, CEO in ECIT.

About Catacloud

Catacloud is a Norwegian software company offering a modern ERP system for
business administration and accounting. The platform enables integration through APIs
to other systems. Overview of customers, suppliers, products and more gives actionable
insights to improve business decisions. New modules and functionality are continuously
added to cater to market demands.

About ECIT

ECIT was founded in 2013 and support a large customer base with accounting, payroll,
and a broad range of IT services. ECIT has a well-proven model for acquisition and
integration, ensuring proximity to customers and local entrepreneurship combined with
the strength of 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 key driver of
the Company's growth and ECIT has completed more than 125 acquisitions since 2013.