Asetek A/S

Asetek - Employee Stock Option Grant

Aalborg, September 7, 2022. Asetek A/S' board of directors has on September 5,

2022, decided to grant options to key employees in the Company and its

subsidiaries. The decision is made in accordance with the Company's remuneration

policy.

A total of 376,500 options have been granted to purchase shares at a price of

NOK 15.04 per share. The exercise price is set as the average of the closing

price for the Company's shares on the day of the grant and the subsequent day.

The options become exercisable gradually within a period of 3 years and the

options will expire 5 years after the initial grant date.

The executive management group was granted 253,150 options in total. Other

employees, in the Company's subsidiaries in Denmark, USA and China, were granted

a total of 123,350 options.

Share options are an integrated element of Asetek's total renumeration

structure. This year, the approved grant represents a 50% reduction compared to

the expected options grant. This has been agreed considering the Company's

current challenging business climate," said Jukka Pertola, the Chairman of the

Board at Asetek.

Asetek will not execute a share repurchase program directly linked to hedging

the option program. Recent staff reductions have led to the cancellation of

previously granted options. Shares previously re-purchased to hedge the now

cancelled options will partly be allocated to hedge the new granted options.

Obligatory documents filed with the Danish FSA under the EU Market Abuse

Regulations are attached to this release.

About Asetek

Asetek (ASTK.OL), a global leader in mechatronic innovation, is a Danish garage

-to-stock-exchange success story. Founded in 2000, Asetek established its

innovative position as the leading OEM developer and producer of the all-in-one

liquid cooler for all major PC & Enthusiast gaming brands. In 2013, Asetek went

public while expanding into energy-efficient and environmentally friendly

cooling solutions for data centers. In 2021, Asetek introduced its line of

products for next level immersive SimSports gaming experiences. Asetek is

headquartered in Denmark and has operations in China, Taiwan and the United

States.

For further information, please contact:

Peter Dam Madsen, Chief Financial Officer

Mobile: +45 2080 7200

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