CodeLab Capital enters into term sheet for potential acquisition in the OHS services segment

31 Mar 2026 13:00 CEST

Oslo, 1 April 2026

CodeLab Capital AS (“CodeLab” or the “Company”) has entered into a non-binding
term sheet regarding a potential acquisition of 100% of the shares in a
Norwegian provider (the “Target”) of occupational health and safety (OHS)
services.

The Target operates a business model characterized by a high share of recurring
revenues, strong customer retention, and attractive underlying market dynamics,
in line with CodeLab’s investment criteria.

The contemplated transaction represents a highly strategic add-on to CodeLab’s
existing portfolio, further strengthening its position within OHS-related
services. The acquisition is expected to significantly increase the Company’s
scale within this segment and represents a material step-up compared to its
current operations.
A successful outcome of the acquisition could cater for significant value
creation potential through commercial and operational improvements, including
cross-selling opportunities across a larger combined customer base, enhanced
sales execution, and leveraging CodeLab’s existing infrastructure and
capabilities across the Group.

Settlement of the transaction is expected to include a combination of cash and
share-based consideration, with a large portion anticipated to be settled in
shares. The share component is expected to be priced at a significant premium to
the current trading price of CodeLab’s shares, implying strong alignment with
the sellers and confidence in the Company’s long-term value creation strategy.

The potential acquisition remains subject to customary conditions, including
completion of due diligence and agreement on final transaction documentation.

CodeLab remains focused on executing its strategy of building a scalable
platform of companies with recurring revenues, attractive market positions, and
significant value creation potential through operational improvements and M&A.

Further updates will be provided as appropriate.

For more information, please contact
Anton Bondesen, CEO, alb@codelabcapital.com
Christoffer Mathiesen, CFO, cm@codelabcapital.com

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