Itera

AGM Information • Jul 8, 2016

Share option programme

Share option programme

In accordance with the resolution in the ordinary general meeting

held on 23 May of 2016, the Board of Itera ASA has approved a new

share option programme for leading employees in Itera. The

programme issues 1,690,000 options, and the vesting period of share

options is almost four years.

The exercise price for the options is NOK 3.89, which is equal to

the average volume-weighted share closing price on the Oslo Stock

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

grant of these options.

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 01.06.2017-15.06.2017

- 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

Options that are not exercised within the exercise period are

rolled forward to next exercise period.

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

targets, have the exercise period 01.06.2020-15.06.2020.

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

following primary insiders (including related parties):

Group CEO Arne Mjøs: 500,000 options. Number of share options after

the grant is 980,000 and number of shares held is 19,518,298

(23.75%).

CFO Bent Hammer: 180,000 options. Number of share options after the

grant is 180,000 and number of shares held is 100,000.

EVP Jon Erik Høgberg: 170,000 options. Number of share options

after this grant is 302,000 and number of shares held is 476,944.

EVP Kristian Enger: 170,000 options. Number of share options after

this grant is 260,000 and number of shares held is 177,472.

EVP Niko Nyström: 170,000 options. Number of share options after

this grant is 240.000 and number of shares held is 173,736.

MD Itera Denmark John Aalling: 40,000 options. Number of share

options after this grant is 64,000.

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

after this grant is 136,000.

Communication Director Ane Gjennestad: 50,000 options. Number of

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

is 30,000.

For more information, please contact:

Bent Hammer, CFO

Mobile: +47 982 15 497