Instabank — Remuneration Information 2020

Dec 18, 2020

Instabank ASA - Share Option Program

Instabank ASA - Share Option Program

Oslo, 18 December 2020: On the basis of the approval by the General Meeting on 18 December 2020 to authorize the Board of Directors of Instabank ASA (the ‘Company’, OSE ticker “INSTA”) to issue new shares to employees under a share option program, the Board of Directors has resolved to issue share options to key employees in the Company.

A total of 20,000,000 options for shares in the Company have been distributed amongst the employees. The number of options granted corresponds to 6.01% of the outstanding number of shares in the Company. Each option gives the right to acquire one share in the Company. The options are granted without consideration.

Pursuant to the vesting schedule, 100% of the options will vest three years after the day of grant (vesting is dependent on the option holder still being employed in the Company).

The exercise price for all options at grant date is NOK 1.50 per share, and the exercise price will be increased by 5% annually.

Options that are not exercised within 5 years from the date of grant will lapse and become void.

Primary insiders in Instabank ASA have received the following options grants, on the terms described above:

Robert Berg, Chief Executive Officer in Instabank ASA, has been granted 7,200,000 share options. Following the grant, he holds 5,497,195 shares and 7,200,000 options in the Company.

Eivind Sverdrup, Chief Compliance Officer in Instabank ASA has been granted 4,100,000 share options. Following the grant, he holds 4,403,833 shares and 4,100,000 options in the Company.

Per Kristian Haug, Chief Financial Officer in Instabank ASA, has been granted 1,240,000 share options. Following the grant, he holds 95,000 shares and 1,240,000 options in the Company.

Kjetil Welde Knutsen, Chief Risk Officer in Instabank ASA, has been granted 1,240,000 share options. Following the grant, he holds 70,000 shares and 1,240,000 options in the Company.

Anne Jørgensen, Chief Operating Officer in Instabank ASA, has been granted 1,240,000 share options. Following the grant, she holds 35,000 shares and 1,240,000 options in the Company.

Farzad Jalily, Chief Technical Officer in Instabank ASA, has been granted 1,240,000 share options. Following the grant, he holds 742,417 shares and 1,240,000 options in the Company.

Jørgen Rui, Chief Marketing Officer in Instabank ASA, has been granted 1,240,000 share options. Following the grant, he holds 234,000 shares and 1,240,000 options in the Company.

Stian Rismyhr, Employee representative in the board, has been granted 190,000 share options. Following the grant, he holds 225,667 shares and 190,000 options in the Company.

Henning Munkvold, Deputy employee representative in the board, has been granted 190,000 share options. Following the grant, he holds 471,600 shares and 190,000 options in the Company.

For further information, please contact:

Robert Berg, CEO rb@instabank.no, +47 974 85 610

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.