Itera

Remuneration Information • Jun 28, 2017

Share option programme

Share option programme

In accordance with the resolution in the ordinary general meeting

held on 22 May of 2017, the Board of Itera ASA has approved a new

share option programme for leading employees in Itera. The programme

issues 2,000,000 options, and the vesting period of share options is

almost four years.

The exercise price for the options is NOK 6.42, which is equal to

the average volume-weighted transaction price on the Oslo Stock

Exchange for the last 30 trading days preceding the date of the

grant of these options. The exercise price is not adjusted for any

dividend payments in the vesting period.

80% of the options are subject to achievements of financial targets

in alignment with Itera's profitable growth ambition. Options

subject to financial targets have the following exercise periods:

- for 1/4 of options during 01.06.2018-15.06.2018

- for 1/4 of options during 01.06.2019-15.06.2019

- for 1/4 of options during 01.06.2020-15.06.2020

- for 1/4 of options during 01.06.2021-15.06.2021

Options that are not exercised within the exercise period are rolled

forward to the next exercise period.

The remaining 20% of the options that are not subject to financial

targets, have the exercise period 01.06.2021-15.06.2021.

The options to acquire shares in Itera have been allocated to the

following primary insiders (including related parties):

Group CEO Arne Mjøs: 180,000 options. The number of share options

after the grant is 660,000 and number of shares held is 19,076,998

in addition to 3,900,000 future contracts, in total 22,976,998

shares (28.0%) held in his investment company Arne Mjøs Invest AS.

CFO Bent Hammer: 180,000 options. The number of share options after

the grant is 360,000 and the number of shares held is 133,063.

EVP Jon Erik Høgberg: 180,000 options. The number of share options

after this grant is 394,000 and the number of shares held is

505,007.

EVP Kristian Enger: 180,000 options. The number of share options

after this grant is 346,000 and the number of shares held is

304,535.

EVP Niko Nyström: 180,000 options. The number of share options after

this grant is 346,000 and the number of shares held is 247,776.

MD Itera Denmark John Aalling: 60,000 options. The number of share

options after this grant is 108,000.

MD Compendia Oddvar Håland: 40,000 options. The number of share

options after this grant is 96,000 and the number of shares held is

3,063.

Communication Director Ane Gjennestad: 60,000 options. The number of

share options after this grant is 106,000 and number of shares held

is 103,063 held in her investment company Triceps AS.

For more information, please contact:

Bent Hammer, CFO

Mobile: +47 982 15 497