Following the outbreak of COVID-19, Techstep has proactively taken steps to
safeguard employees, families, customers and partners. Furthermore, Techstep has
made efforts to minimise risk of business interruptions and is adhering to local
public health advisory across its locations. The company hereby provides an
operational and financial update related to the ongoing situation.

Employees' health and well-being are our highest priority

Techstep's main priority is the health of employees and their families. The
company has established business continuity plans and a dedicated task force.
Techstep is following updated guidelines from the Norwegian and Swedish
authorities to limit the spread of the virus and safeguard employees and
operational capabilities. Since 12 March, Techstep has run core operations via
decentralised locations and mobile home office solutions. Furthermore, Techstep
restricts physical meetings and all travel between borders or within countries
unless strictly necessary.

Impact on Techstep's operations

"Our business is to enable enterprises and employees do their work across mobile
devices and locations, with a high degree of security and operational stability.
The nature of what we do means that we are fortunate and well equipped to deal
with the current situation and maintain our own operations in a good way. When
it comes to our customers and the market in general, we see higher activities in
some areas, while the significant macroeconomic uncertainty and some hard-hit
sectors obviously curb customer demand in other areas. It's a mixed picture,
fundamentally, making work mobile has never been more relevant", says Jens
Haviken, CEO of Techstep ASA, adding "Right now our thoughts go to all those
making efforts to take care of people's health and flatten the curve. These are
tough times, but we will get through this by taking care of each other and
collaborating as a team".

Looking ahead, the coronavirus outbreak is likely to result in an extraordinary
impact on businesses and investments across several sectors, negatively
affecting overall demand for Techstep's offerings. In addition, risk related to
supply of hardware could increase.

Techstep is already experiencing reduced demand for its hardware offerings and
private enterprises are particularly affected by the outbreak. Demand for
Techstep's solutions and communication services, however, have been stable and
in some cases increased. The establishment of the Norwegian national coronavirus
hotline is an example of Techstep's latest deliveries within communication
support. It is too early to say whether the increased demand for solutions and
services will make up for reduced hardware demand longer-term.

As the current outlook signals overall reduced demand, Techstep has implemented
a temporary reduction in workforce capacity by approximately 20%, effective in
April. The temporary reductions are mainly within hardware sales and include
both Norwegian and Swedish employees. Software, operational and communications
services will continue as normal to serve existing and potentially new
customers' mobility needs.

Cost and capex flexibility

Techstep has operational, cost and capital expenditures flexibility and will
continue to adapt as market conditions evolve. Once such adaption is the
temporary workforce capacity reduction of approximately 20%. Techstep will
continue its software-related investments as planned, but other capital
expenditures will be reduced going forward. Financially, Techstep has a strong
balance sheet and limited net interest-bearing debt.

Jens Haviken, CEO of Techstep comments: "Looking ahead, we remain positive that
our mobility solutions will be even more relevant once the crisis abates. In
addition, our Flow offering enables us to help companies get mobility solutions
through our financing options, reducing the shorter-term liquidity need for our
customers' mobility and communication platforms".

Further information from:

Jens Haviken, CEO, Techstep ASA: +47 930 90 070
Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690

About Techstep ASA

Techstep is positioning itself as a leading Nordic enabler of the digital
workplace. Techstep supplies hardware, software, connectivity and mobile device
management bundled as a managed service. This enables enterprises and their
employees to do their work across mobile devices and locations, with a high
degree of security and operational stability. Techstep has 211 employees based
in Norway and Sweden, serving close to 4,000 customers and 201,000 recurring
revenue end-users across various industries in the private and public sectors.
The company is listed on the Oslo Stock Exchange. For more information, see
www.techstepasa.no

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© Oslo Bors ASA, source Oslo Stock Exchange