Asetek A/S

Share Issue/Capital Change • Mar 10, 2021

Asetek - Share Capital Increase upon Exercise of Warrants. Board and Management Members Exercise Warrants

Asetek - Share Capital Increase upon Exercise of Warrants. Board and Management Members Exercise Warrants

10 March 2021 - Vice chairman of the Board of Directors and primary insider of

Asetek A/S, Chris Christopher has exercised 11,000 warrants issued on April 23,

2014 with a subscription price of NOK 40.10 per share paid in cash. Following

the transaction, Chris Christopher owns 88,422 Asetek shares and 34,811

warrants.

CFO and primary insider of Asetek A/S, Peter Dam Madsen has exercised 10 313

warrants issued on April 23, 2014 with a subscription price of NOK 40.10 per

share paid in cash. Following the transaction, Peter Dam Madsen owns 106,719

Asetek shares and 275,252 options and warrants.

COO and primary insider of Asetek A/S, John Hamill has exercised 8 621 warrants

issued on April 23, 2014 with a subscription price of NOK 40.10 per share paid

in cash. Following the transaction, John Hamill owns 110,521 Asetek shares and

335,222 options and warrants.

Further reference is made to warrants issued by Asetek A/S, Danish central

business register (CVR) no. 34880522 (the "Company"), pursuant to corporate

resolutions adopted on April 23, 2014, August 11, 2015, April 28, 2016, and

April 25, 2017 respectively.

Pursuant to the applicable warrant terms, the warrants are exercisable in

exercise windows open in a four weeks period running from the Company's

preliminary announcement of its financial statements or publication of its

interim financial report however no later than 7 years after the Subscription

Date as specified in the Subscription Agreement, at 12 noon.

Each warrant gives the holder the right but not the obligation, to subscribe for

one share in the Company of a nominal value of DKK 0.1 at NOK 40.10, NOK 10.60,

NOK 19.50, and NOK 76.25 per share respectively.

The Company has now received exercise notices from warrant holders aggregating

70,594 warrants distributed as follows:

Warrants

Warrants issued on April 23, 2014 31,790

Warrants issued on August 11, 2015 17,910

Warrants issued on April 28, 2016 13,037

Warrants issued on April 25, 2017 7,857

In total 70,594

In respect of 1,054 exercised warrants issued on April 25, 2017, the Board of

Directors has, in accordance with the applicable warrant terms, decided to pay

the warrant holders a cash amount (cash settlement) corresponding to the amount

by which the market price of the shares in the Company exceeds the subscription

price, instead of delivering the shares corresponding to the warrants.

The holders of the remaining 69,540 exercised warrants will subscribe for the

corresponding 69,540 shares of each nominally DKK 0.10 in the Company and the

Company has received the following corresponding subscription price:

Shares Subscription Price

Warrants issued on April 23, 2014 31,790 NOK 1,274,779.00

Warrants issued on August 11, 2015 17,910 NOK 189,946.00

Warrants issued on April 28, 2016 13,037 NOK 254,221.50

Warrants issued on April 25, 2017 6,803 NOK 518,728.80

In total 69,540 NOK 2,237,575.25

Consequently, the share capital increase resulting from the exercise of the

warrants (from nominally DKK 2,678,096.00 by nominally DKK 6,954.00 to nominally

DKK 2,685,050.00) will now be registered and the newly issued shares will be

divided between the warrant holders having issued an exercise notice in

accordance with the above.

The shareholders' register kept by the Norwegian central securities depository

Verdipapirsentralen ASA and DNB Bank ASA respectively, the warrants' register

and the articles of association of the Company will be updated accordingly.

Asetek A/S

Peter Dam Madsen

Chief Financial Officer

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act. This stock exchange release was

published by Peter Dam Madsen, CFO at Asetek A/S, on March 10, 2021 at

13:40 CET.