Itera

Transaction in Own Shares • Dec 7, 2023

Itera ASA: Offer to buy back shares in Itera ASA

Itera ASA: Offer to buy back shares in Itera ASA

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE

UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

Itera ASA ("Itera" or the "Company") has decided to launch an offer to all

shareholders in the Company to buy back up to 800,000 shares in the Company in

connection with its employee option and share purchase programs. The buyback

will be conducted as a reverse book-building process in which shareholders can

submit sales offers.

The book building period commences today, Thursday 7 December 2023, at 09:00

hours CET and is expected to close at 15:00 hours CET on Friday 8 December

2023. The Company reserves the right to accept sales offers received after the

end of the book building period, as well as to close or extend the book building

period at any time and for any reason in its sole discretion without further

notice.

Sales offers are irrevocable and cannot be withdrawn once received, however if

the book building period is extended, sales offers can be withdrawn up to the

expiry of the extended book-building period.

The execution of any repurchases will depend on market conditions. The Company

will determine criteria for the allocation of the acceptances in accordance with

the best interest of the Company and the equal treatment of shareholders. The

Company may decide to repurchase more or fewer shares than set out above, or choose to

repurchase no shares at all, at its sole discretion.

SpareBank 1 Markets AS acts as sole bookrunner in connection with the buyback,

and shareholders wanting to sell shares can contact SpareBank 1 Markets AS at

+47 24 14 74 70.

The buyback will be based on the authorisation provided by the Company’s annual

general meeting held on 24 May 2023.

As at today, 7 December 2023, the Company owns 955,559 own shares.

For further information, please contact:

Bent Hammer, CFO

+47 982 15 497

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

The offer contemplated hereby and the distribution of this announcement and

other information in connection with the offer may be restricted by law in

certain jurisdictions, and the buyback is not made in any jurisdiction in which

this would be unlawful, require registration or other measures.

Itera ASA does not assume any responsibility in the event there is a violation

by any person of such restrictions. Persons into whose possession this

announcement or such other information should come are required to inform

themselves about and to observe any such restrictions. The offer is not being

made directly or indirectly in, or by use of the mails of, or by any means or

instrumentality of interstate or foreign commerce of, or any facilities of a

national securities exchange of, the United States, its territories and

possessions, any State of the United States and the District of Columbia (the

"United States"). This includes, but is not limited to, facsimile transmission,

internet delivery, e-mail, telex and telephones. Accordingly, copies of this

release and any related documents are not being, and must not be, mailed,

e-mailed or otherwise distributed or sent in or into the United States and so

doing may invalidate any purported acceptance.