ECIT AS

Notice of extra ordinary general meeting

Notice of extra ordinary general meeting. Company announcement No. 263

Reference is made to ECIT AS’ (“ECIT” or the “Company“) announcement no. 252 of 4 September 2024 regarding the launch of a recommended voluntary offer (the “Offer”) from Olympus BidCo AS to acquire all outstanding B- and C- class shares in ECIT against NOK 10 per share  settled in cash and/ or share consideration, as further described in the offer document dated 4 September (the “Offer Document“).

Reference is further made to the stock exchange announcement no. 262 dated 17 October 2024, regarding the settlement notification for the Offer. As stated in the settlement notification, the settlement will take place no later than 7 November 2024.

The following persons discharging managerial responsibilities in ECIT (the “PDMR“) and their closely associated persons (the “PCA“), as listed below, have accepted the Offer to sell all their shares in ECIT to Olympus Bidco AS at a price of NOK 10.00 per share and/or committed to sell or contribute their shares in ECIT to Olympus Bidco AS outside of the Offer at the same price per share. The transactions will be settled partly in cash, and partly by the sellers issuing a vendor loan to be converted to shares in Olympus TopCo AS (reinvestment), as described in Company’s announcement No. 252 of 4 September 2024 and the Offer Document.

Seller (PDMR or PCA)                             PDMR                           No. of shares sold/ share-class

Peter Lauring                                           Peter Lauring                 1,172,000         B-shares

Nykredit Pensjon                                    Peter Lauring                 320,000            A-shares

Sophia Katarina GludLauring          Peter Lauring                 10,000              B-shares

CGL Holding AS                                      Peter Lauring                  4,631,128         A-shares

CGL Holding II AS                                   Peter Lauring                  36,384,940        A-shares

CGL Holding II AS                                   Peter Lauring                 100,000            B-shares

Plenborg Holding ApS                        Thomas Plenborg         2,093,129         C-shares

Karl Emil Plenborg                                Thomas Plenborg            9,000                B-shares

Pedro Fasting                                          Pedro Fasting                  2,500                B-shares

Fasting & Comrades AS                       Pedro Fasting                749,653            B-shares

Varner Kapital AS                                   Espen Karlsen                25,000,000       B-shares

Rodvang Holding AS                             Linda Forberg                1,081,481         B-shares

Mile High Invest AS                              Cato A. Holmsen           3,104,362         B-shares

Y-Not ApS                                                 Klaus Jensen                   211,095            B-shares

Y-Not ApS                                                 Klaus Jensen                  14,840,253        C-shares

Smilla Jensen                                          Klaus Jensen                 12,500              B-shares

Elias Jensen                                           Klaus Jensen                  12,500              B-shares

Altair AS                                                 Christian Bjørnstad        375,000            B-shares

Jes Schjøtler                                       Jes Schjøtler                     750,000            B-shares

Mads Skovgaard                                 Mads Skovgaard            562,500            B-shares

Mikkel Walde Holding ApS             Mikkel Walde                   279,742            B-shares

Mikkel Walde Holding ApS             Mikkel Walde                   16,776,676        C-shares

Sigrid H. S. Walde                              Mikkel Walde                    6,055                B-shares

Sofus H. S. Walde                              Mikkel Walde                    3,755                B-shares

Sewell AS                                              Halvor S. Aspaas             4,851,139         B-shares

Yttreeide AS                                        Morten A. Yttreeide        380,000            B-shares

Please see the enclosed forms for further details about the transactions.

After the abovementioned transactions, no PDMRs or PCAs own any shares in ECIT. However, PDMRs, including PCAs, hold the following number of warrants to shares in ECIT (the “Warrants“):

PDMR (incl. PCA)                    No. of Warrants

Peter Lauring                             1,540,000

Thomas Plenborg                    420,000

Pedro Fasting                           262,500

Espen Karlsen                          210,000

Linda Forberg                           535,000

Cato Andreas Holmsen        210,000

Klaus Jensen                            770,000

Christian Bjørnstad             105,000

Mads Skovgaard                      490,000

Mikkel Walde                             490,000

Halvor Sewell Aspaas            376,000

Morten André Yttreeide       376,000

For description of “Warrants”, reference is made to Company announcement no. 90 regarding incentive plan.

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 revenue of 3.8 billion NOK per H1 2024 and more than 2,500 employees across ten countries. M&A has been key to drive the Company’s growth as ECIT has completed more than 135 acquisitions since 2013. Read more at www.ecit.com.

This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act.

Do you have any questions?

Feel free to contact Marcus

+45 93 60 53 20 mbirk@ecit.com