% OF EQUIPMENT FINDS A NEW HOME FAR EAST

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1 3 Step IT in brief An IT life cycle services organisation that helps its clients to acquire, manage and retire devices in the most sustainable possible way.

2 M A N A G I N G 1.79 M I L L I O N A S S E T S 98% OF EQUIPMENT FINDS A NEW HOME FAR EAST

3 Our Business: Summarised 3 Step IT Oy is an IT life cycle services company. It was founded in 1997, with headquarters in Helsinki, Finland. Specialists in leasing and managing IT devices (laptops, desktops and smartphones), the company helps its clients with financing to acquire technology; services to track and use it efficiently; and then, at the end of their planned life, it retires the devices with assured data security before they are sustainably reused. Retired devices are usually replaced with new devices as clients begin the next life cycle. A comprehensive life cycle service 2 Asset management Acquisition 1 3 Replacement Step 1: Acquisition 3 Step IT offers a frame agreement, with a credit limit. Within that limit, the client is free to purchase their preferred brand from their preferred supplier. The lease length is set to match the planned life for the device, with clear extension options that can be exercised later. Step 2: Asset management 3 Step IT provides an asset management service, using purchase invoices and collection requests to keep the information up to date. The service complements the life cycle lease approach: so it s easy to budget, allocate costs, plan returns, extensions and replacements. Supplementary services provide detail on each asset, automating this IT administration task; a device health dashboard; and allow users to choose their new device in an automated refresh operation. Step 3: Replacement The asset management service gives early warning of devices approaching their planned replacement date. Clients use the service to agree a return, or ask for an extension. Returned devices have their data wiped, with a data destruction audit trail in the asset register. Most devices are resold, with a few recycled. The resale revenue is an important part of life cycle lease economics.

4 The company operates internationally. Customers include commercial and public organisations of all sizes, representing the complete spectrum of business and public sector activities. While there s no lower limit, clients need around 100 employees with a device to be able justify using 3 Step IT s services. Some 350 employees serve over 4000 active life cycle clients, with 1.8 million assets under management. They operate in subsidiaries in 10 countries: Denmark, Estonia, Finland, Latvia, Lithuania, Malaysia, Norway, Singapore, Sweden and the UK. The refurbishing business operates out of 6 centres which handle close to 1 million used devices. Around half are end-of-lease devices life cycle clients, and the rest come from other sources. 98% of life cycle client devices are refurbished and resold. Used devices are traded widely, sold into countries with effective IEEE regulatory regimes. 3 Step IT operates globally The centre of gravity of 3 Step IT operations is in the Nordic region. Geographical sales split in % 5% 37% 45% Finland Scandinavia Other Europe Outside Europe Life cycle markets Remarketing sales 3 Step IT has an impressive growth record, which is accelerating in Aſter 20 years, it s ranked by Leaseurope as one of the top 50 leasing companies in Europe; amongst equipment lessors it ranks in the top 25.

5 Profitable growth fuelled by continual innovation backed with consistent investment 3 Step IT has continually developed its IT life cycle management capabilities and associated services to become a leading value-added asset finance organisation. The story of 3 Step IT 1997 Computer Rental CR Oy is founded 2000 Acquires a Swedish refurbishing centre; Accent Equity Partners acquire 40% of Computer Rental 2002 Expands into Denmark and Norway 2005 Opens a Finnish refurbishing centre; expands into Latvia and Lithuania; revenue >100M ; releases first device Profiler 2007 Management and employee buyout of Accent stake; Eläke-Varma acquires 17.5% of 3 Step IT; over 100 employees 1998 Releases asset management tool Changes name to 3 Step IT; expands into Sweden and Estonia Releases a web version of the asset management tool 2006 Expands into UK; Sells Swedish refurbishing centre 2008 Releases a patented mobile device profiler; Revenue exceeds 200M Our key numbers showcase steady growth over the years. Sales EBITDA% EURm % % % % 3.1% % 4.2% 4.4% % 609 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 2009 Over 500,000 assets under management 2011 Far East expansion; Acquires Smålandsbörsen production; 1 million assets under management in over 3000 frame agreements 2013 More than 4000 frame agreements; Extends mobile profiler to support smartphones 2015 Appoints Carmen Ene as CEO; Acquires Nevtor in Finland, IT Move in Norway and TEC Finance in Sweden 2017 Delivers globally consistent life cycle services; Included in Leaseurope s Top 50 ranking; Leasing life Sustainability Award 2010 Acquires Fortis Leasing in Nordics; Finnish Industry Investment and Etera pension fund acquire an 11% stake 2012 Starts Ikano Bank partnership; Develops smartphone and tablet service; Revenue exceeds 400M 2014 Launches 3FindIT service; Revenue exceeds 500M 2016 Starts Danske Bank partenrship; applies Nevtor technology to launch 3CheckIT; launches 3ChooseIT; sells PC help desk business to clarify channel strategy

6 A partnership perspective of 3 Step IT Partnerships are built in anticipation of accelerated progress toward shared goals. At 3 Step IT we have partnerships with banks, lessors, IT vendors and distributors. For each party, these partnerships have the potential to increase participation in its current market, or expand its business to new markets. Our channel strategy has guided life cycle service development; so there are clear boundaries, intended to avoid conflicting interests and encourage cooperation. 1. Trends in device use support a continued healthy market The challenge of managing devices will grow, as devices proliferate. IT investment in devices is stable, there is a general trend to access for use, rather than ownership, so technology leasing is likely to increase. 2. Recognised circular economy participant with waste regulations set to make this an enduring benefit Sitra 1 cites 3 Step IT as a leading product life extension participant. GDPR is a driving force for effective data destruction at end of life. Clients benefit from residual value and asset management audit trails. 3. Business model adds value to lessors, the IT channel and vendors Customer satisfaction is consistently high, with a life cycle service that demonstrably reduces total IT costs and improves service levels. High levels of repeat purchases as each life cycle comes to an end. Sell once and get a repeat order as the life cycle repeats. Vendor neutrality confers technology freedom. Frame agreement confers investment timing freedom. Repeat buying builds in solution provider loyalty. Asset management improves lease communications and adds an audit trail. Residual values make the initial sale more affordable. Life cycle offerings reduce clients IT administration, improve IT service level and complement channel and lessor services. 1 Sitra is the Finnish Innovation Fund, with (amongst other themes) a consistent focus on the circular economy. It is an independent public foundation which operates directly under the supervision of the Finnish Parliament.

7 Management focused on collaboration In the asset finance industry, pure financing is a race to the bottom on rates. Selling technology without financing can challenge budgets and business cases. Our services can help offer more complete funding services and IT solutions. They allow differentiation and the opportunity to serve clients more effectively, to meet more of their needs and raise client satisfaction. Wherever the pairing can add value, our executive team is committed to realising the potential a partnership has to offer: it s an essential part of our strategy. Carmen Ene, CEO Carmen enjoyed a successful 20-year career in IBM in international management positions: she established financing operations for IBM in South Africa and in Central & Eastern Europe, was General Manager of IBM Global Financing Italy and Chairman of IBM s Italian banking subsidiary based in Milan. As Vice President IBM Global Financing Northeast Europe she managed over $6 billion of assets, accountable for revenue, profit, and client satisfaction. She joined 3 Step IT in 2015 as its CEO. Her approach has delivered acquisitions, partnerships, and a renewed focus on the remarketing business which delivers on 3 Step IT s promise to make IT more sustainable. She is also on the board of Amcham Finland, an international business-to-business network, and works energetically to advance the cause of women and cultural diversity in industry. Chris Stalley, VP Business Development Chris has worked in some part of the banking and finance industries for his entire career. Following a European business development role at GE Capital, he worked for Siemens Financial Services as Executive Director, starting their Structured Finance business from scratch in EMEA & Asia Pacific. He joined 3 Step IT in 2016 to establish a Business Development function. In this new position, reporting to the CEO, his remit includes M&A activity and strategic alliances to strengthen current and develop new partnerships, especially when these can help extend our global reach. Jonas Rosqvist, Chief Remarketing Officer Jonas joined 3 Step IT in 2014, initially to develop our used technology sales business. He developed the plan for One Remarketing: our unified technology reconditioning and resale business division, and was appointed as our first Chief Remarketing Officer in The new division fuels its growth by building a more efficient sales network and establishing new partnerships to supply end of life technology. One Remarketing delivers the product life extension that underpins our circular economy ambitions: it has raised the reuse rate of end of lease devices to 98%.

8 3 Step IT Group Oy. Registered in Finland, No Registered office at Mechelininkatu 1A, Helsinki. 2018