Kitron: Allocation of options

On 10 July 2020, the board of directors of Kitron ASA resolved to issue 1,400,000 options to senior management, whereof 150 000 options are re-allocated from Subprogram A (2019-2022) and 1,250,000 options are from Subprogram B (2020-2023). The options are issued in accordance with Kitron's long term incentive program 2019-2022 and the board of directors' declaration on salaries and other remuneration to the senior executive management, as approved by Kitron annual general meeting held 23 April 2020.

The share option program and properties of the options are described in note 19 and 28 in Kitron's annual financial statements for 2019.

The options are allocated to the management as follows:

• CEO and President Peter Nilsson received 560,000 options. After the allocation Peter Nilsson holds 760,000 options and 2,079,182 shares in Kitron.
• CFO Cathrin Nylander received 120,000 options. After the allocation Cathrin Nylander holds 270,000 options and 868,752 shares in Kitron.
• COO Israel Losada Salvador received 120,000 options. After the allocation Israel Losada Salvador holds 270,000 options and 743,831 shares in Kitron.
• CTO Stian Haugen received 120,000 options. After the allocation Stian Haugen holds 120,000 options in Kitron.
• MD Norway Hans Petter Thomassen received 120,000 options. After the allocation Hans Petter Thomassen holds 270,000 options and 431,770 shares in Kitron.
• MD Lithuania Mindaugas Sestokas received 120,000 options. After the allocation Mindaugas Sestokas holds 270,000 options and 366,978 shares in Kitron.
• MD Sweden Stefan Hansson Mutas received 120,000 options. After the allocation Stefan Hansson Mutas holds 270,000 options and 219,261 shares in Kitron.
• MD China Zygimantas Dirse received 120,000 options. After the allocation Zygimantas Dirse holds 270,000 options and 452,622 shares in Kitron.

For further information, please contact:
Tuomo Lähdesmäki, Chairman of the Board of Kitron
Tel.: +358-50-5879648
E-mail: 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, Poland, China and the United States. Kitron had revenues of about NOK 3.3 billion in 2019 and has about 1,700 employees. www.kitron.com

This information is subject to the disclosure requirements pursuant to section 5-12 and 4-2 of the Norwegian Securities Trading Act.

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