Asetek A/S

Share Issue/Capital Change • Aug 19, 2020

Asetek - Share Capital Increase Upon Exercise of Warrants

Asetek - Share Capital Increase Upon Exercise of Warrants

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 October 8, 2013, April 23, 2014, August 12, 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 36.50, NOK 40.10,

NOK 33.90, NOK 10.60, NOK 19.50, and NOK 76.25 per share respectively.

The Company has now received exercise notices from warrant holders aggregating

149,605 warrants distributed as follows:

Warrants

Warrants issued on October 8, 2013 86,177

Warrants issued on April 23, 2014 11,000

Warrants issued on August 12, 2014 6,408

Warrants issued on August 11, 2015 19,988

Warrants issued on April 28, 2016 21,632

Warrants issued on April 25, 2017 4,400

In total 149,605

In respect of 450 exercised warrants issued on October 8, 2013, 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 149,155 exercised warrants will subscribe for the

corresponding 149,155 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 October 8, 2013 85,757 NOK 3,129,035.50

Warrants issued on April 23, 2014 11,000 NOK 441,100.00

Warrants issued on August 12, 2014 6,408 NOK 217,231.20

Warrants issued on August 11, 2015 19,988 NOK 211,872.80

Warrants issued on April 28, 2016 21,632 NOK 421,824.50

Warrants issued on April 25, 2017 4,400 NOK 335,500.00

In total 149,155 NOK 4,756,563.50

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

warrants (from nominally DKK 2,621,488.90 by nominally DKK 14,915.50 to

nominally DKK 2,636,404.40) 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

Asetek A/S

Assensvej 2

9220 Aalborg

Denmark