As noted in previous press releases, Zutec has been engaged in ongoing discussions in relation to the significant outstanding Qatar receivable. Despite these engagements, Zutec has not succeeded in obtaining any serious response from our Debtor. Consequently, having taken appropriate legal advice, Zutec has decided to refer the matter to a recognised arbitration process for adjudication. Zutec will be claiming the original core debt along with all incurred costs, both historic and future in relation to the said contract.

For additional Information please contact:

Clíona Farrelly, CEO of Zutec Holding AB

cliona.farrelly@zutec.com +353 1 201 3565

Zutec Holding AB (publ) is listed on Nasdaq First North Growth Market and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, CA@mangold.se, www.mangold.se).

This information is inside information that Zutec Holding AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act (2007:528). The information was submitted for publication through the agency of the contact person set out above, 03 February 2020, at 14.30 CET.

About Zutec

Zutec develops and markets cloud-based software solutions, primarily directed to companies within the building and construction industry. The Company’s products help clients to increase their productivity and cost efficiency. Zutec provides solutions within project management, data and document collaboration tools, data enriched 3D-models, defect management, project handover and the operations and maintenance of buildings.