Itera

EXERCISE OF STOCK OPTIONS

Today, a total number of 1,010,000 stock options were exercised at

NOK 2.30 per share and 178,000 stock options at NOK 3.89 per share

in accordance with outstanding employee stock option programmes.

Please refer to notifications of 22 August 2013 and 8 July 2016,

respectively.

Itera ASA has used 908,000 of its own shares to cover this

redemption of stock options. After this transaction, Itera ASA has

63,935 own shares. The remaining 280,000 options were redeemed

through a cash settlement.

Following primary insiders have exercised options:

CEO Arne Mjøs has exercised 500,000 options and now holds 19,076,998

shares in addition to 3,900,000 future contracts, in total

22,976,998 (28.0%) through his investment company Arne Mjøs Invest

AS. In addition, he has 480,000 outstanding options.

Executive Vice President, Kristian Enger, has exercised 94,000

options and now holds 304,535 shares and 164,000 options.

Executive Vice President, Jon Erik Høgberg, has exercised 88,000

options for a cash settlement and now holds 505,007 shares and

214,000 options.

Executive Vice President, Niko Nystrøm, has exercised 74,000 options

and now holds 247,776 shares and 166,000 options.

CCO Ane Gjennestad has exercised 50,000 options and now holds

103,063 shares and 46,000 options. The shares are owned through her

investment company Triceps AS.

Executive Vice President Igor Mendzebrovski has exercised 150,000

options and now holds 150.000 shares.

CEO of Itera Aps (Denmark), John Aalling, has exercised 16,000

options for a cash settlement and now holds 48,000 options.

IT Director Merete Jordal has exercised 40,000 options for a cash

settlement.

CEO of Compendia AS Oddvar Håland has exercised 80,000 options for a

cash settlement settlement and now holds 3,063 shares and 56,000

options.

For further information, please contact:

Bent Hammer, CFO, tel. +47 982 15 497

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