NOK 1000, except earnings per share Note 2019 2018

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME GROUP

Revenues	1	560 318	531 323
Cost of goods and services		77 310	87 275
Salaries and personnel expenses	7,8,9,10	348 317	327 769
Depreciation and amortisation	13	35 798	21 141
Other operating and administrative expenses	9 42 676		52 322
Total operating expenses	504 101		488 507
Operating profit		56 218	42 816
Financial income	11	2 514	1 234
Financial expense	11	5 143	2 631
Net financial income (expenses)		(2 629)	(1 397)
Profit before taxes		53 589	41 419
Income taxes	15	11 979	9 742
Net income		41 609	31 677
Earnings per share	3	0,51	0,39
Diluted earnings per share	3	0,51	0,39
Consolidated statement of comprehensive income
Net income		41 609	31 677
Other comprehensive income
Translation differences on net investment in foreign operations		459	260
Total comprehensive income		42 068	31 937
Total comprehensive income attributable to:
Shareholders in parent company		42 068	31 937

CONSOLIDATED STATEMENT OF FINANCIAL POSITION GROUP

NOK 1 000	Note	2019	2018
ASSETS
Deferred tax assets	15	2 901	3 630
Intangible assets	13	21 864	22 954
Property, plant and equipment	13, 14	76 809	23 477
Total non-current assets		101 575	50 061
Current assets
Work in progress	2	732	4 188
Contract costs	2	11 571	16 407
Accounts receivable	12	57 075	52 267
Other current assets	4	17 193	16 665
Cash and cash equivalents	17	53 085	55 279
Total current assets		139 656	144 807
Total assets		241 231	194 868

NOK 1 000	Note	2019	2018
EQUITY AND LIABILITIES
Equity
Share capital		24 656	24 656
Other equity		21 715	22 788
Total equity		46 371	47 443
Other provisions and liabilities		1 077	871
Non-current interest-bearing liabilities	14	35 577	4 741
Total non-current liabilities		36 655	5 613
Accounts payable		23 838	23 941
Tax payable	15	10 880	9 537
Public fees payable		32 779	33 130
Contract liabilities	2	37 176	24 146
Other current liabilities	5	53 532	51 058
Total current liabilities		158 205	141 812
Total liabilities		194 860	147 425
Total equity and liabilities		241 231	194 868

Oslo, April 21, 2020 The Board of Directors of Itera ASA

Morten Thorkildsen Chairman of the board

Gyrid Skalleberg Ingerø Board member

Mimi K. Berdal Board member

Charlotte Bech Blindheim Board member/ Employee Representative

Arne Mjøs Chief Executive Officer

Jan-Erik Karlsson Board member

Erik Berg Solheim Board member/ Employee Representative

NOK 1000	Note	2019	2018
Profit before taxes		53 589	41 419
Income taxes paid	15	(9 995)	(9 844)
Depreciation and amortisation	13	35 798	21 141
Change in work in progress		3 456	5 489
Change in accounts receivable	12	(4 808)	1 780
Change in accounts payable		(103)	3 232
Change in other accruals		3 867	(6 124)
Effect of changes in exchange rates		(283)
Net cash flow from operating activities		80 006	56 809
Receipts on sales of fixed assets	13	0	0
Investment in fixed assets	13	(11 861)	(11 395)
Investment in intangible assets	13	(6 938)	(9 289)
Net proceeds from disposal of subsidiary company		0	0
Net cash flow from investing activities	(18 799)		(20 684)
Change in non-current interest-bearing liabilities
Payments for purchase of own shares		(96)	(22 556)
Proceeds from sale of own shares		2 125	11 075
Principal elements of lease payments		(14 118)
Payments of finance lease liabilities 14		(6 704)	(8 721)
Dividends paid to equity holders of Itera ASA		(44 660)	(20 493)
Share capital pay back		0	0
Net cash flow from financing activities		(63 453)	(40 695)
Effects of exchange rate changes on cash and cash equiva lents		50	(5)
Net change in cash and cash equivalents		(2 196)	(4 575)

Cash and cash equivalents as of 1 January		55 279	59 854
Cash and cash equivalents as of 31 December		53 084	55 279

					Cumulative
NOK 1000	Note	Total paid in capital	Own shares	Other paid in equity	translation differences	Other equity	Total equity

Equity as of 1 January 2018		24 656	(64)	1 014	(235)	25 268	50 638
Implementation of IFRS 15		0	0	0	0	(3 005)	(3 005)
Net income for the period		-				31 678	31 678
Other comprehensive income for the period		-			260	-	260
Share option costs		-		(466)	-		(466)
Employee share purchase programme	8	-		312	-		312
Purchase of own shares		-	(750)	(21 806)	-		(22 556)
Sale of own shares		-	442	10 634	-		11 075
Dividends		-				(20 493)	(20 493)
Equity as of 31 December 2018		24 656	(373)	(10 312)	25	33 448	47 444
Net income for the period		-				41 609	41 609
Other comprehensive income for the period		-			459	-	459
Share option costs		-		(1 106)	-		(1 106)
Employee share purchase programme	8	(1)	4	594	-		597
Purchase of own shares		-	(5)	(90)	-		(96)
Sale of own shares		-	143	1 982	-		2 125
Dividends		-				(44 661)	(44 661)
Equity as of 31 December 2019		24 655	(231)	(8 933)	483	30 396	46 371