Itera

Transaction in Own Shares • Mar 30, 2016

SHARE BUY-BACK PROGRAM

SHARE BUY-BACK PROGRAM

Itera ASA (Itera) has decided to initiate a share buyback

program of up to 1.0 million shares. The buyback program is

based on the authorization to the Board of Directors as

resolved at the Annual General Meeting on 21 May 2015.

The buyback program will be based on market price on the

Oslo Stock Exchange. The program is implemented from today

and end no later than 31st May 2016.

Due to the low liquidity in the Itera's share the daily

volume in the buyback program may exceed the 25 % limit

recommended in Børssirkulære 2/2008.

The shares purchased under the program will be used to

Itera's share option program for leading employees.