Verismo Systems AB becomes part of ECIT. Company announcement No. 81

ECIT AS hereby announce that the Swedish HR-software company Verismo Systems AB
has become a part of ECIT. The acquisition strengthens ECIT`s position within HR business
administration advisory and modern, cloud-based HR-systems.

ECIT is acquiring 18 % of the shares in Verismo, with an option to acquire all remaining
shares in the company. The acquisition has been settled in cash, partly by a capital increase in Verismo.

- The acquisition strengthens our product portfolio and our position within the delivery of
an integrated HR solution including systems, services and advisory. Verismo`s HR-systems
complements the product portfolio within ECIT`s software division and ECIT can now offer modern HR-systems to both existing and potential customers. We are pleased to welcome customers and employees of Verismo to ECIT, says Peter Lauring, CEO in ECIT.

About Verismo Systems AB

Verismo Systems AB, located in Stockholm, Sweden, is a Swedish HR-software specialist
supporting and automating processes within recruitment, onboarding, employee development, pay roll and employee benefits. Verismo AB has 7 employees and had a
revenue of 5,3 MSEK in 2021.

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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