Asetek A/S

Transaction in Own Shares • Oct 23, 2020

Asetek Launches Share Buyback Program to Cover Employee Stock Options

Asetek Launches Share Buyback Program to Cover Employee Stock Options

October 23 2020 - Asetek today announced the launch of a share buyback program.

The share buyback will be conducted under the safe harbour provisions of EU

Regulation 2273/2003.

Section 3-12 of the Norwegian Securities Trading Act implements the EU

Commission Regulation (EC) No 2273/2003 on exemptions for buy-back programs and

stabilisation of financial instruments in Norwegian law.

The buyback program will be carried out by market purchases in accordance with

the authorization granted by the annual general meeting to the Board of

Directors on 22 April 2020. Shares purchased under the program will be used to

cover Asetek's obligations under its employee stock option programs.

The maximum consideration to be paid for shares acquired under the buyback

program is USD 4,000,000. The maximum number of shares that can be acquired

under the buyback program is 381,000 shares. The buyback program will be

initiated today and be valid until March 05, 2021. Asetek may at any time

without further notice close or suspend the buyback program.

Asetek will not purchase shares at a price higher than the higher of the price

of the last independent trade and the highest current independent bid on the

trading venue where the purchase is carried out. The maximum number of shares

which may be purchased in any one day is limited to 25% of the average weighted

daily volume of Asetek shares traded in the 20 trading days preceding the day of

purchase.

The share buyback program is managed and will be executed by SEB on behalf of

Asetek.

About Asetek

Asetek is the global leader in liquid cooling solutions for gaming and

enthusiast PCs, data centers and servers. Founded in 2000, Asetek is

headquartered in Denmark and has operations in California, Texas, China and

Taiwan. Asetek is listed on the Oslo Stock Exchange (ASETEK.OL).

For further information, please contact:

Peter Dam Madsen, Chief Financial Officer

Mobile: +45 2080 7200, e-mail: pdm@asetek.com