Kitron — Share Issue/Capital Change 2019

May 31, 2019

Kitron: KIT – Issue of shares under share incentive program

Kitron: KIT – Issue of shares under share incentive program

(2019-05-31) Reference is made to Kitron ASA's previous disclosures regarding

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

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

consequently resolved to issue 2,911,379 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 30 April 2019.

In addition, Kitron has decided to convert 2,027,358 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 8.97, which is equal to the closing price on Oslo Børs on

29 May, 2019 less the strike price of NOK 0.10 per share.

The following primary insiders and management have exercised options and

subscribed for shares in the share capital increase:

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Number of shares Holding of shares after

subscribed for subscription

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CEO and President Peter

Nilsson 930,306 2,079,182

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CFO Cathrin Nylander 353,688 868,752

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COO Israel Losada Salvador 383,767 743,831

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CHRO, Anne Lise Hjelseth 113,846 113,846

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Hans Petter Thomassen,

Managing Director Kitron

Norway 276,683 431,770

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Mindaugas Sestokas,

Managing Director Kitron

Lithuania 347,345 516,978

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Stefan hansson Mutas,

Managing Director Kitron

Sweden 215,261 219,261

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Zygimantas Dirse, Managing

Director Kitron China 248,452 452,622

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Richard Skog, Supply Chain

Director 42,031 72,031

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After the share option exercise, Kitron has no outstanding rights to subscribe

for shares.

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 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 of the Board of Kitron

Tel.: +358-50-5879648

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

About Kitron

Kitron is one of Scandinavia's leading electronics manufacturing services

companies for the Energy/Telecoms, Industry, Defence/Aerospace, 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 2.6 billion in 2018 and has about 1,700 employees. www.kitron.com

(http://www.kitron.com)

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act