TOMRA acquires 14% ownership stake in product traceability company Kezzler

19 Mar 2023 18:00 CET

TOMRA Systems ASA has acquired a 14% ownership stake in Kezzler AS, a product
traceability company headquartered in Norway, for NOK 110 million. The
investment is done through a combination of participation in the company's
rights issue and buying secondary shares. Following the investment, TOMRA became
the largest shareholder in Kezzler AS.

Kezzler AS was founded in 2003 in Norway and is a software-as-a-service (SaaS)
provider that has developed a platform to enable traceability of products
through their life cycles. The solution platform is scalable, flexible, and
purpose-built to meet traceability challenges of large, complex organizations
across various industries.

TOMRA and Kezzler have already collaborated in several strategic verticals and
see a potential for mutual value creation working in closer collaboration going
forward. TOMRA regards traceability and transparency to be important elements of
circular business models. The investment in Kezzler enables TOMRA to explore and
further develop opportunities in a strategic digital space.

"Through this investment, TOMRA will take a position with an important
technology that can accelerate the required transition to circularity and
resource optimization.", says Tove Andersen, TOMRA President and CEO.

"Already working with some of the largest brand names in the world, we very much
welcome TOMRA as our largest shareholder. I am confident that we together can
continue to scale our mutual solutions with the strong industrial support that
TOMRA can facilitate", says Erik Langaker, chair of the board of Kezzler AS.

TOMRA Systems ASA

Asker, 19 March 2023

For further inquiries, please contact:

Eva Sagemo, CFO +47 934 39 911

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