Kitron — Remuneration Information 2023

Jun 1, 2023

KIT - Issue of shares under share incentive program

KIT - Issue of shares under share incentive program

(2023-06-01) Reference is made to Kitron ASA's previous disclosures regarding

its share incentive program. Kitron has received exercise notices from the

participants in the share incentive program and Kitron's board of directors has

consequently resolved to issue 526,081 new shares. The shares are issued to the

option holders at a strike price of NOK 0.10 per share pursuant to the board

authorisation resolved in Kitron's general meeting held 28 April 2023.

In total, 1,250,000 options were exercised. However, the incentive program is

capped at 200 per cent increase of the market capitalization for the shares that

are issued, adjusted for dividends and possible share buy backs. As a result,

the number of shares that may be subscribed has been reduced with 354,085

shares.

In addition, Kitron has decided to convert 369,834 exercised options under the

share incentive program against cash consideration. The cash consideration will

be utilised to cover the tax cost for the option holders which will be subject

to advance tax deduction by Kitron after exercise of the options. The conversion

of options is made at NOK 45.60, which is equal to the closing price on Oslo

Børs on 31 May 2023 less the strike price of NOK 0.10 per share.

The following primary insiders have exercised options and subscribed for shares

in the share capital increase:

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Number of shares Number of options

subscribed for converted against cash

consideration

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Peter Nilsson, CEO and 162,055 131,805

President

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Cathrin Nylander, CFO 46,743 39,265

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Kristoffer Asklöv, COO 37,519 34,154

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Stian Haugen, CTO 49,290 36,718

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Hans Petter Thomassen, 47,595 38,413

Managing Director Kitron

Norway & VP North America

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Mindaugas Sestokas, 61,641 24,367

Managing Director Kitron

Lithuania & VP Central

Eastern Europe

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Stefan Hansson Mutas, 45,263 40,745

Managing Director Kitron

Sweden

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Zygimantas Dirse, Managing 61,641 24,367

Director Kitron China

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Carsten Christensen, CEO 7,167 0

of BB Electronics

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Primary insider notifications pursuant to the market abuse regulation article

19 are attached.

Kitron has furthermore resolved to exercise a right under the share incentive

program to implement trading restrictions on the shares issued under the

abovementioned share capital increase. All shares issued will be subject to

trading restrictions with a duration of three years; however, so that the last

two years, one eighth of the total number of new shares will vest and become

tradable each quarter.

For further information, please contact:

Tuomo Lähdesmäki, Chairman of the Board of Kitron

Tel.: +358-50-5879648

E-mail: investorrelations@kitron.com (mailto:investorrelations@kitron.com)

Kitron is a leading Scandinavian electronics manufacturing services company for

the Connectivity, Electrification, Industry, Medical devices and

Defence/Aerospace sectors. The group is located in Norway, Sweden, Denmark,

Lithuania, Germany, Poland, the Czech Republic, India, China and the United

States. Kitron has about 3 200 employees, and revenues were EUR 641 million in

www.kitron.com (http://www.kitron.com)

This information is made public by the Company pursuant to the EU Market Abuse

Regulation article 19, and is subject to the disclosure requirements pursuant to

Section 5-12 the Norwegian Securities Trading Act.