Kitron: Allocation of options

(2022-10-25)  On 25 October 2022, the board of directors of Kitron ASA (the "Company" or "Kitron") resolved to issue 1,250,000 options under Subprogram D (2022- 2025).

In addition, the board of directors has re-allocated already issued options, whereof 10,000 options are re-allocated from Subprogram B (2020-2023), and 265,000 options are re- allocated from Subprogram C (2021-2024).

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 2021.

A total of 1,075,000 options are allocated to primary insiders as follows:

* CEO and President Peter Nilsson received 225,000 options from Subprogram D. After the allocation Peter Nilsson holds 905,000 options and 2,471,102 shares in Kitron.

* CFO Cathrin Nylander received 75,000 options from Subprogram D. After the allocation Cathrin Nylander holds 295,000 options and 1,035,249 shares in Kitron.

* COO Kristoffer Asklöv received 100,000 options from Subprogram D. After the allocation Kristoffer Asklöv holds 300,000 options and 101,561 shares in Kitron.

* CTO Stian Haugen received 75,000 options from Subprogram D. After the allocation Stian Haugen holds 295,000 options and 51,561 shares in Kitron.

* MD Norway Hans Petter Thomassen received 75,000 options from Subprogram D. After the allocation Hans Petter Thomassen holds 295,000 options and 470,062 shares in Kitron.

* MD Lithuania Mindaugas Sestokas received 75,000 options from Subprogram D. After the allocation Mindaugas Sestokas holds 295,000 options and 418,978 shares in Kitron.

* MD Sweden Stefan Hansson Mutas received 75,000 options from Subprogram D. After the allocation Stefan Hansson Mutas holds 295,000 options and 295,282 shares in Kitron.

* MD China Zygimantas Dirse received 75,000 options from Subprogram D. After the allocation Zygimantas Dirse holds 295,000 options and 535,122 shares in Kitron.

* CEO BB Electronics Carsten Christensen received 75,000 options from Subprogram D, 215,000 options from Subprogram C and 10,000 options from Subprogram B. After the allocation Carsten Christensen holds 300,000 options and 51,561 shares in Kitron.

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

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

About Kitron
Kitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical devices and Defence/Aerospace sectors. The group is located in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, China and the United States. Included the acquisition of BB Electronics in January 2022, Kitron has about 2 800 employees, and pro forma revenues were about NOK 5 billion in 2021.

www.kitron.com (http://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 notification October 2022