Kitron — Share Issue/Capital Change 2016

Oct 25, 2016

Kitron: Issue of shares under share incentive program

Kitron: Issue of shares under share incentive program

(2016-10-25) Reference is made to Kitron ASA's ("Kitron") previous disclosures

regarding its share incentive program. Kitron has today received exercises

notices from the participants in the share incentive program and Kitron's board

of directors has consequently resolved to issue 3 230 986 new shares in the

company to the option holders at a strike price of NOK 0.10 per share. The issue

of shares is made pursuant to the board authorisation to issue shares resolved

in Kitron's general meeting held 21 April 2016.

In addition, Kitron has decided to terminate 2 254 014 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. In connection

with the termination of options Kitron has used closing price as at 24 October

2016 for the Kitron shares a reference value for the terminated options.

The following primary insiders have exercised options and subscribed for shares

in the

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Number of shares Holding of shares Holding of rights

subscribed for after subscription to shares

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CEO and President

Peter Nilsson 973 876 1 148 876 1 000 000

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CFO Cathrin

Nylander 420 064 515 064 350 000

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COO Israel Losada

Salvador 420 064 460 064 350 000

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Tommy Storstein,

Sales Director

Kitron ASA 297 176 297 176 250 000

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Hans Petter

Thomassen, Managing

Director Kitron

Norway 177 242 177 242 300 000

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Mindaugas Sestokas,

Managing Director

Kitron Lithuania 452 353 452 353 300 000

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Thomas Löfgren,

Managing Director

Kitron Sweden 286 041 286 041 300 000

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Zygimantas Dirse,

Managing Director

Kitron China 204 170 204 170 150 000

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Kitron has furthermore resolved to exercise the 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 two years; however, so that one eighth

of the total number of new shares will vest and become tradable each quarter.

For further information please contact:

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

Kitron is one of Scandinavia's leading electronics manufacturing services

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

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

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

NOK 1.95 billion in 2015 and has about 1 250 employees. www.kitron.com

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.