Kitron — Major Shareholding Notification 2017

Feb 28, 2017

KITRON ASA: MANDATORY NOTICATION OF TRADE

KITRON ASA: MANDATORY NOTICATION OF TRADE

Athanase Industrial Partners Fund II has on 28 February 2017 transferred

440,593 shares in Kitron ASA to Athanase Industrial Partners II AB at a price of

NOK 7.165 per share. Following completion of this transaction, Athanase

Industrial Partners Fund II owns 6,798,212 shares in Kitron ASA, equalling

3.86% of the outstanding shares, and Athanase Industrial Partners II AB owns

2,011,488 shares in Kitron ASA, equalling 1.14% of the outstanding shares. The

aggregate shareholding of Athanase Industrial Partners Fund II and Athanase

Industrial Partners II AB remains at 8,809,700 shares in Kitron ASA, equalling

5% of the outstanding shares. The calculation is based on 176,192,611

outstanding shares in Kitron ASA.

Athanase Industrial Partners Fund II and Athanase Industrial Partners II AB are

funds managed by Athanase Industrial Partners Ltd. Stefan Charette is member of

the board of directors of Kitron ASA and is controlling shareholder of Athanase

Industrial Partners Ltd.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities

Trading Act.