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2017-11-15

Omnicar: Interim report 2017-01-01 - 2017-09-30

"OmniCar" or the "Company" means the Group, namely OmniCar Holding AB
(registered under company registration number 559113-3987) and its
wholly owned subsidiary Omnicar A/S. Omnicar A/S, which is the
Group's operating subsidiary, started doing business in February
2016. OmniCar Holding AB was formed in May 2017 by way of a non-cash
issue in which the shares in Omnicar A/S were exchanged for shares in
OmniCar Holding AB, which resulted in the group relationship. The
transaction was treated as a transaction between jointly controlled
companies for the purpose of providing the former holders of the
shares in Omnicar A/S with shares in OmniCar Holding AB on a pro rata
basis and there was thus no change in the group of owners.

The consolidated financial statements thus take the form of merged
financial statements, i.e. as if the Group was formed on 1 January
2017. Comparative 2016 figures for the Group refer to the Danish
subsidiary OmniCar A/S. No comparative periods are available for the
parent company.

Q1 - Q3 2017 (2017-01-01 - 2017-09-30)

? Revenue totalled SEK 11.889 million

? Profit/(loss) after financial income and expenses, net amounted to SEK -1 802 million.

? Earnings per share * SEK -0.15

? ** The solvency ratio was 87.4%

Q3 2017 (2017-06-01 - 2017-09-30)

? Revenue totalled SEK 3,261 million

? Profit/(loss) before financial income and expenses, net amounted to SEK -1 121 million.

? Earnings per share * SEK -0.08

*Earnings per share: The net profit or loss for the period divided by
the average number of shares.

The average number of shares has thus been calculated according to the
same principle as described above, i.e. as if the Group was formed on
1 January 2017.The average number of shares in the Group in the first
half of the year amounted to 9,278,665 and in the second quarter to
9,346,056. The registered number of shares in OmniCar as at 30 June
2017 totalled 9,895,710, but an additional 2,600,000 shares have been
registered after the balance sheet date as a result of the new issue
taking place in the period 7 July to 1 August, bringing the total up
to 12,495,710 shares.

**Solvency: Equity as a percentage of the balance sheet total.

Significant events during Q3 2017

· In September 2017, OmniCar signed an agreement with Mercedes-Benz,
Norway. Fifty-five Mercedes-Benz dealers in Norway have chosen
OmniCar's service agreement manager (SAM) as their primary solution
when selling and handling service contracts.

· In September 2017, four of the Company's major shareholders, CEO
Claus T. Hansen, board member Mikkel Lippmann, board member Stig
Jensen and Tine Hertz who through companies together hold a total of
approximately 8,500,000 shares, decided to sell a total of 300,000
shares to a Swedish investor. The shares sold represent approximately
3.5% of the selling shareholders' total holdings in OmniCar. The
transaction was completed at a price per share of SEK 11.95.

Significant events post period end

26 October 2017

? OmniCar signs an agreement with Bilernes Hus - Denmark's largest car dealer. Bilernes Hus in Silkeborg has chosen OmniCar's service agreement manager (SAM) as their primary solution when selling and handling service contracts. The contract period is 36 months.

CEO Claus T. Hansen has the floor

Results

It is with great pleasure that I am able to present our Q3 interim
results which are above our expectations.

Here are some of the most important milestones for Q3:

· One of the important objectives is to ensure long-term contract
revenue. We are now in a situation where 90% of our revenue is based
on long-term contract revenue. This number has increased by 40% (as
described in our memorandum) within just four months, and by 25%
compared to last year. We have gained this momentum by increasing our
software sale significantly and by discontinuing our sale of
non-scalable marketing services.

· Our total number of OmniCar SAM customers is now 75 dealers - our
target of 100 dealers for 2017 as mentioned in our memorandum will be
revised to at least 200 dealers in 2017.

· Since our release of our most strategic product suite SAM, we have
been able to attract some of the most prestigious car dealers in
Denmark as customers, including Denmark's largest car dealer,
Bilernes Hus and Kjærsgaard Auto one of the largest Citroen and
Nissan dealers in Denmark . In our newsletter, you will find a movie
where Sales Manager Lars Vestergaard Brøndberg explains why OmniCar
brings value to their business.

· Our profit number was previously reported to be SEK -5.7 million
for 2017 - despite significant investments in manpower we will beat
this number and estimate a + SEK 2.5 million improvement and forecast
only a SEK -3.6 million loss for 2017.

· Even more importantly, the reported gain for our dealers when
implementing OmniCar software is impressing, an average 45-month term
and an average monthly subscription fee of SEK 400 beats our
expectations.

OmniCar's growth plan

· We have been positively surprised by the high demand from the
marked and also the fact that some of the very large workshop chains
have shown interest in our product suite.

· We have a large and defined pipeline, currently one in three car
dealers want to have a meeting with Omnicar.

· We have huge ambitions. Today, we are operating in Sweden, Norway
and Denmark. Next year, we will commence activities in Germany.

· We are currently revising our growth plan. Our focus is adding as
many customers as we can, as fast as possible. We have previously
announced that our 2018 target is 600 customers. But I feel confident
that we will exceed this number significantly. We will also introduce
an even more aggressive pricing model and our sole focus going
forward is on our software solution and the parts of our business
that are scalable.

· In Q4 2017, we will increase our sales force and hire more sales
people. We will also focus on developing fast customer onboarding
solutions so that we can increase our customer intake significantly.

· We launched our new product suite on 1 September. Since then we
have tested which customer segments that were most attracted to our
products. We have analysed ways of onboarding customers and tested
our general marketing messages.

Finally, the market is defined and present, our product is in high
demand and our software works and has demonstrated its high value
with our customers.

It would be naive to think that a young company like OmniCar will not
run into surprises along the way. In fact, we are sure that we will
be faced with a lot of unforeseen challenges, but we have already
proven to be a solid and strong company with strong gains and an
experienced team of dedicated and trusted employees. Our strong team
is ready to face any kind of challenge and fight it back with great
endurance and strength.

We are all looking forward to an exciting Q4 2017 and 2018

Last, but not least, a huge thank you to all our shareholders for your
support and trust.

Claus T. Hansen

CEO of OmniCar Holding AB

OmniCar

OmniCar has developed a software solution that changes the way the car
industry sells cars and after-sale service. The software solution
generates increased sales and improved customer loyalty and was
originally developed for Citroën in Denmark, Norway and Sweden.
OmniCar's software solution also creates additional sales for car
dealers and may also be used for other areas within the
transportation sector. Since 2012, OmniCar's software solution has
generated more than 25,000 service agreements for Citroën and sales
in excess of SEK 250 million for its customers.

With OmniCar's solution car dealers are, for example, able to
calculate and manage their service agreements with customers. It is
absolutely decisive for the car dealers that they are able to enter
into long-term service agreements with their customers as this will
ensure the car dealers earnings on after-sale service and repairs for
the life of the car. A car customer spends an average of around SEK
10,000 every year on after-sale service and repairs. These sales by
far exceed the profit from an isolated car sale.

With our solution, car dealers are able to easily calculate the exact
prices for the service agreements and easily manage these agreements.
At the same time, OmniCar's solution makes it possible to get an
overview of earnings on individual service agreements and of
accumulated earnings on the entire portfolio of service agreements.
Furthermore, our solution facilitates an automatic communications
flow between the car dealer and customer.

There are currently no other solutions on the market and OMINICAR has
applied for a patent for this solution.

Business model in brief

OmniCar's business model is based on income from licence fees that are
paid on a monthly basis.

Licences for OmniCar's SAM solution are granted for periods of at
least 12 months and the monthly licence fee is between SEK 2,995 and
SEK 15,000, depending on the number of service agreements to be
managed by the solution. In addition to software licences, the
Company also makes money on digital advice.

Performance figures for the period

Revenue

The Group's net revenue for the period amounted to SEK 11.889 million.
We are very pleased with these forecast-beating results.

Financial performance

The Group's Q1 - Q3 2017 interim loss after tax totalled SEK -1 577
million.

Liquidity

The Group's cash and cash equivalents as at 30 September 2017 amounted
to SEK 11,787,000.

Solvency ratio

The Group's solvency ratio as at 30 September 2017 was 87.4%.

Shareholdings as at 2017-09-30 (including outstanding shares
registered on 1 August 2017)

+----------------------+----------------+--------------------------+
|Name |Number of shares|Share of votes and capital|
+----------------------+----------------+--------------------------+
|Oliver Invest ApS* |3,959,182 |31.7 % |
+----------------------+----------------+--------------------------+
|Tine Hertz Holding ApS|2,566,590 |20.5 % |
+----------------------+----------------+--------------------------+
|Mayday Holding ApS |1,381,758 |11.1 % |
+----------------------+----------------+--------------------------+
|Wildcard.DK ApS** |1,187,377 |9.5 % |
+----------------------+----------------+--------------------------+
|Lippa2008 ApS*** |521,6...

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