Itera

Share Issue/Capital Change • Jun 28, 2016

EXERCISE OF STOCK OPTIONS

EXERCISE OF STOCK OPTIONS

On 28th of June 2016, a total number of 250,000 stock options were

exercised at NOK 2.30 per share according to current employee stock

option program. For details, see notification of 22nd of August

Itera ASA has used 162,000 of its own shares to cover this

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

962,455 own shares. The remaining 88,000 options were redeemed

through a cash settlement.

Following primary insiders have exercised options:

Executive Vice President, Kristian Enger, has exercised 30,000

options and now holds 177,472 shares and 90,000 options.

Executive Vice President, Jon Erik Høgberg, has exercised 132,000

options and now holds 476,944 shares and 132,000 options.

Executive Vice President, Niko Nystrøm, has exercised 40,000

options and now holds 173,736 shares and 70,000 options.

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

options and now holds 24,000 options.

For further information, please contact:

Bent Hammer, CEO, tlf. +47 982 15 497