Kitron — Remuneration Information 2015

Dec 18, 2015

Kitron - Introduction of new share option program and allocation of options

Kitron - Introduction of new share option program and allocation of options

(2015-12-18) In accordance with the Board of Director's Declaration on salaries

and other remuneration to the senior executive management, as approved by Kitron

ASA's ("Kitron") annual general meeting held 21 April 2015, the Board of Kitron

is authorized to introduce a new share option program for management employees

in Kitron comprising up to 5 500 000 shares running for three years from the

start of the second calendar quarter of 2016.

On 18 December 2015, the Board decided to allocate 3,000,000 options under the

new share option program as follows:

Name Position No. of options allocated

Peter Nilsson CEO 1 000 000

Cathrin Nylander CFO 350 000

Israel Losada Salvador COO 350 000

Thomas Löfgren MD 300 000

Mindaugas Sestokas MD 300 000

Hans Petter Thomassen MD 300 000

Zygimantas Dirse GM 150 000

Tommy P Storstein Sales Dir 250 000

Allocated   3 000 000

Non-allocated   2 500 000

Each option entitles the holder to subscribe one share in Kitron. The options

are allocated without consideration and with a strike price at NOK 0.10. The

options have a vesting period of three years with full vesting at the end of the

vesting period, provided that the following conditions are fulfilled:

* Each manager must remain an employee of Kitron or an affiliated company at

the end of the vesting period.

* The market cap of Kitron must have increased in the vesting period, being

the period between [date] and [date].

* When determining the development in Kitron's stock market price, the volume

weighted average quotation on Oslo Børs in the three months prior to 1 July

2016 (the "Initial Reference Price") shall be compared with the volume

weighted average quotation on Oslo Børs in the three months period

commencing two months prior to and ending one month after expiry of the

vesting period (the "Final Reference Price").

* If the Final Reference Price is the same or lower than the Initial Reference

Price, no share options shall vest.

* If the Final Reference Price is 100% or more than the Initial Reference

Price, all options shall vest.

* If the Final Reference Price implies an increase in the stock market price

of between 0 % and 100% compared to the Initial Reference Price, the options

shall vest linearly.

The options shall be adjusted in case of certain amendments to the Kitron's

share capital. The options shall regardless of the vesting period be vested if a

public offer is made for the shares in the Company and the number of shares

vesting will depend on the offer price.

After the allocation of options the mentioned persons have, together with

related parties, the following holding of shares and rights to shares in the

Company:

Name Position No. of options held No. of shares held

Peter Nilsson CEO 2 776 000 175 000

Cathrin Nylander CFO 1 061 000 95 000

Israel Losada Salvador COO 1061 000 40 000

Thomas Löfgren MD 892 000 0

Mindaugas Sestokas MD 892 000 0

Hans Petter Thomassen MD 600 000 0

Zygimantas Dirse GM 450 000 0

Tommy P Storstein Sales Dir 753 000 0

For further information please contact:

Tuomo Lähdesmäki, Chairman, Tel.: +358-50-5879648.

***

Kitron is one of Scandinavia's leading electronics manufacturing services

companies for the Aerospace/Defence, Energy/Telecoms, Industry, Medical

equipment and Offshore/Marine sectors. The company is located in Norway, Sweden,

Lithuania, Germany, China and the United States. Kitron had revenues of about

NOK 1.75 billion in 2014 and has about 1 200 employees. www.kitron.com

***

This information is subject of the disclosure in accordance with section 5-12 of

the Norwegian Securities Trading Act (Norwegian: verdipapirhandelloven).

[HUG#1974809]