Itera

EXERCISE OF STOCK OPTIONS

On 1st July 2014, a total number of 124,000 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 2013.

Itera ASA has used 108,000 of its own shares to cover

part of this redemption of stock options, while the

remaining 16.000 options were fulfilled as cash

settlements. After this transaction, Itera ASA has no

shares of its own.

Following primary insiders have exercised options:

Executive Vice President, Anders Lier, has exercised

50.000 stock options. He now holds 80.072 shares and

530.000 shares on contract (forwards), corresponding

to a total of 610.072 shares. In addition, Anders

Lier has 250.000 options.

Executive Vice President, Kristian Enger, has

exercised 30.000 options. He now holds 117.472 shares

and 140.000 options.

Executive Vice President, Niko Nyström, has exercised

20.000 options. He now holds 73.736 shares and

96.000 options.

CEO Itera Denmark, John Aalling, has exercised 8.000

options. He now holds 104.165 shares directly, and

10.000 shares indirectly through Potten Aps,

corresponding to 114.165 shares. In addition, John

Aalling has 40.000 options.

For further information, please contact:

Torunn Havre tel. +47 909 43 403

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