Asetek A/S

Share Issue/Capital Change • Nov 27, 2020

Asetek - Share Capital Increase Upon Exercise of Warrants

Reference is made to warrants issued byAsetekA/S, Danish central business register (CVR) no. 34880522 (the "Company"), pursuant to corporate resolutions adopted onAugust 12, 2014,August 11, 2015,April 28, 2016, andApril 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 SubscriptionAgreement, at 12 noon.

Each warrant gives the holder the right but not the obligation, to subscribe for one share in the Companyof a nominal value of DKK0.1 at NOK33.90, NOK10.60, NOK19.50, and NOK76.25 per share respectively.

The Companyhas nowreceived exercise notices from warrant holders aggregating 33,896 warrants distributed as follows:

	Warrants
Warrants issued onAugust 12, 2014	762
Warrants issued onAugust 11, 2015	11,229
Warrants issued onApril 28, 2016	15,059
Warrants issued onApril 25, 2017	6,846
Intotal	33,896

In respect of 33,134 exercised warrants issued onAugust 11, 2015,April 28, 2016, andApril 25, 2017, the Board of Directors has, in accordance with the applicable warrant terms, decided to paythe warrant holders a cash amount (cash settlement) corresponding to the amount bywhich the market price of the shares in the Companyexceeds the subscription price, instead of delivering the shares corresponding to the warrants.

The holders of the remaining 762 exercised warrants will subscribe for the corresponding 762 shares of each nominallyDKK0.10 in the Companyand the Companyhas received the following corresponding subscription price:

	Shares	SubscriptionPrice
Warrants issued onAugust 12, 2014	762	NOK25,831.80
Intotal	762	NOK25,831.80

Consequently, the share capital increase resulting from the exercise of the warrants (from nominallyDKK2,643,219.50 bynominallyDKK76.20 to nominallyDKK 2,643,295.70) will nowbe registered and the newlyissued shares will be divided between the warrant holders having issued an exercise notice in accordance with the above.

The shareholders' register kept bythe Norwegian central securities depositoryVerdipapirsentralenASAand DNBBankASArespectively, the warrants' register and the articles of association of the Companywill be updated accordingly.

AsetekA/S Peter Dam Madsen Chief Financial Officer

Asetek A/S Assensvej 2 9220Aalborg Denmark