CodeLab Capital is in the early process of potentially acquiring Mdco Group

Oslo, 3 September 2026

Reference is made to the stock exchange announcement of 9 July 2026, in which CodeLab Capital AS ("CodeLab" or the "Company") announced that it had entered into a non-binding term sheet regarding a potential acquisition in the OHS (occupational health services) segment. CodeLab can now confirm that the counterparty is Mdco Group ("Mdco").

Mdco holds a leading position within occupational health services in Norway, with national presence, revenue of approximately NOK 250 million, and around 10,000 B2B customers.

CodeLab and Mdco are in dialogue regarding a potential acquisition of 100% of the shares in Mdco. The parties are at an early stage but have agreed a period of exclusivity.

Both parties acknowledge a strong strategic rationale and significant synergies. A combination would enable improved service quality for customers and accretive value creation for shareholders.

A transaction of this scale would represent a major step up for CodeLab. Should a transaction be agreed, it is expected to be financed by issuing shares and a concurrent capital raise in CodeLab would be considered. The process remains subject to due diligence, financing, and agreement on final transaction documentation, among other things.

There can be no certainty that the dialogue will result in a transaction and given the early stage and level of uncertainty, this announcement is not made pursuant to a disclosure obligation under Section 5-12 of the Norwegian Securities Trading Act, but reflects the Company's ongoing commitment to good governance and transparent communication with the market.

The Company will revert with further details in due course, including an investor presentation covering capital requirements, potential terms and an indicative timeline.

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