Kitron: Allocation of options

(2021-10-20)  On 20 October 2021, the board of directors of Kitron ASA (the "Company" or "Kitron") resolved to issue 1,440,000 options, whereof 70,000 options are re-allocated from Subprogram A (2019-2022), 120,000 options are re-allocated from Subprogram B (2020-2023) and 1,250,000 options are allocated from Subprogram C (2021- 2024). Following the allocation of options, there will be 80,000 options under Subprogram A (2019-2022) which are not allocated and that may be re-allocated subject to the decision by the board of directors.

The options are issued in accordance with Kitron's long term incentive program 2019-2022 and the board of directors' guidelines for remuneration of senior executives, as approved by Kitron's annual general meeting held 21 April 2021.

The share option program and properties of the options are described in note 19 and 27 in Kitron's annual financial statements for 2020.

A total of 1,120,000 options are allocated to primary insiders as follows:

* CEO and President Peter Nilsson received 270,000 options from Subprogram C. After the allocation Peter Nilsson holds 1,030,000 options and 2,079,182 shares in Kitron.

* CFO Cathrin Nylander received 100,000 options from Subprogram C. After the allocation Cathrin Nylander holds 370,000 options and 868,752 shares in Kitron.

* COO Kristoffer Asklöv received 50,000 options from Subprogram A, 100,000 options from Subprogram B and 100,000 options from Subprogram C. After the allocation Kristoffer Asklöv holds 250,000 options in Kitron.

* CTO Stian Haugen received 100,000 options from Subprogram C. After the allocation Stian Haugen holds 220,000 options in Kitron.

* MD Norway Hans Petter Thomassen received 100,000 options from Subprogram C. After the allocation Hans Petter Thomassen holds 370,000 options and 431,770 shares in Kitron.

* MD Lithuania Mindaugas Sestokas received 100,000 options from Subprogram C. After the allocation Mindaugas Sestokas holds 370,000 options and 316,978 shares in Kitron.

* MD Sweden Stefan Hansson Mutas received 100,000 options from Subprogram C. After the allocation Stefan Hansson Mutas holds 370,000 options and 219,261 shares in Kitron.

* MD China Zygimantas Dirse received 100,000 options from Subprogram C. After the allocation Zygimantas Dirse holds 370,000 options and 452,622 shares in Kitron.

Primary insider notifications pursuant to the market abuse regulation article 19 are attached.

From Subprogram C, 250,000 options are allocated to an option pool which can be allocated to local management teams and other qualified people, subject to the terms and conditions set out in the long term incentive program 2019-2022.

For further information, please contact:
Tuomo Lähdesmäki, Chairman of the Board of Kitron
Tel.: +358-50-5879648
E-mail: investorrelations@kitron.com

Kitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical devices and Defence/Aerospace sectors. The company is located in Norway, Sweden, Lithuania, Germany, Poland, China and the United States. Kitron had revenues of about NOK 4.0 billion in 2020 and has about 1 800 employees. www.kitron.com

This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 and section 5-12 of the Norwegian Securities Trading Act.

Attachment

• KIT - Primary insider notifications October 2021 - Allocation of options