Asetek A/S

Share Issue/Capital Change • Aug 19, 2020

Asetek - Share Capital Increase Upon Exercise of Warrants

Reference is made to warrants issued byAsetekA/S, Danish central business register (CVR) no. 34880522 (the "Company"), pursuant to corporate resolutions adopted on October 8, 2013,April 23, 2014,August 12, 2014,August 11, 2015,April 28, 2016, andApril 25, 2017 respectively.

Pursuant to the applicable warrant terms, the warrants are exercisable in exercise windows open in a four weeks period running from the Company's preliminary announcement of its financial statements or publication of its interim financial report however no later than 7 years after the Subscription Date as specified in the SubscriptionAgreement, at 12 noon.

Each warrant gives the holder the right but not the obligation, to subscribe for one share in the Companyof a nominal value of DKK0.1 at NOK36.50, NOK40.10, NOK33.90, NOK10.60, NOK19.50, and NOK76.25 per share respectively.

The Companyhas nowreceived exercise notices from warrant holders aggregating 149,605 warrants distributed as follows:

	Warrants
Warrants issued on October 8, 2013	86,177
Warrants issued onApril 23, 2014	11,000
Warrants issued onAugust 12, 2014	6,408
Warrants issued onAugust 11, 2015	19,988
Warrants issued onApril 28, 2016	21,632
Warrants issued onApril 25, 2017	4,400
Intotal	149,605

In respect of 450 exercised warrants issued on October 8, 2013, the Board of Directors has, in accordance with the applicable warrant terms, decided to paythe warrant holders a cash amount (cash settlement) corresponding to the amount bywhich the market price of the shares in the Companyexceeds the subscription price, instead of delivering the shares corresponding to the warrants.

The holders of the remaining 149,155 exercised warrants will subscribe for the corresponding 149,155 shares of each nominallyDKK0.10 in the Companyand the Companyhas received the following corresponding subscription price:

	Shares	SubscriptionPrice
Warrants issued on October 8, 2013	85,757	NOK3,129,035.50
Warrants issued onApril 23, 2014	11,000	NOK441,100.00
Warrants issued onAugust 12, 2014	6,408	NOK217,231.20
Warrants issued onAugust 11, 2015	19,988	NOK211,872.80
Warrants issued onApril 28, 2016	21,632	NOK421,824.50
Warrants issued onApril 25, 2017	4,400	NOK335,500.00
Intotal	149,155	NOK4,756,563.50

Consequently, the share capital increase resulting from the exercise of the warrants (from nominallyDKK2,621,488.90 bynominallyDKK14,915.50 to nominally DKK2,636,404.40) will nowbe registered and the newlyissued shares will be divided between the warrant holders having issued an exercise notice in accordance with the above.

The shareholders' register kept bythe Norwegian central securities depositoryVerdipapirsentralenASAand DNBBankASArespectively, the warrants' register and the articles of association of the Companywill be updated accordingly.

AsetekA/S Peter Dam Madsen Chief Financial Officer

AsetekA/S Assensvej 2 9220Aalborg Denmark