Kitron — Share Issue/Capital Change 2024

Jun 3, 2024

Kitron: Issue of shares under share incentive program

Kitron: Issue of shares under share incentive program

(2024-06-03) 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 700,027 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 25 April 2024.

In total, 1,250,000 options were exercised. In addition, Kitron has decided to

convert 549,973 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 33.30,

which is equal to the closing price on Oslo Børs on 3 June 2024 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 converted

subscribed for against cash consideration

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Peter Nilsson, CEO and 150 759 119 241

President

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Cathrin Nylander, CFO 52 060 47 940

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Kristoffer Asklöv, COO 52 033 47 967

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Stian Haugen, CTO 57 019 42 981

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Hans Petter Thomassen, 53 059 46 941

Regional VP Nordics &

North America

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Mindaugas Sestokas, 68 000 32 000

Regional VP Central &

Eastern Europe

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Zygimantas Dirse, 68 000 32 000

Regional VP Asia

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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, Malaysia, China

and the United States. Kitron has about 2 800 employees, and revenues were EUR

775 million in 2023.

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.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act