Instabank grants share options to executive managements and employees

18 Nov 2022 19:01 CET

Reference is made to the resolution made by the General Meeting of Instabank ASA
on December 18th, 2020, authorising the Board of Directors of Instabank ASA to
issue shares under a share option program. The Board of Directors in Instabank
have resolved to allocate a total of 2,976,800 share options amongst the
employees under the existing share option program.

Primary insiders in Instabank ASA have received the following options grants:
Robert Berg, Chief Executive Officer in Instabank ASA, has been granted 546,800
share options. Following the grant, he holds 5,708,195 shares and 7,746,800
options in the Company.

Eivind Sverdrup, Chief Compliance Officer in Instabank ASA has been granted
340,800 share options. Following the grant, he holds 4,448,833 shares and
4,440,000 options in the Company.

Per Kristian Haug, Chief Financial Officer in Instabank ASA, has been granted
310,000 share options. Following the grant, he holds 154,935 shares and
1,550,000 options in the Company.

Kjetil Welde Knutsen, Chief Risk Officer in Instabank ASA, has been granted
310,000 share options. Following the grant, he holds 123,028 shares and
1,550,000 options in the Company.

Anne Jørgensen, Chief Operating Officer in Instabank ASA, has been granted
310,000 share options. Following the grant, she holds 99,625 shares and
1,550,000 options in the Company.

Farzad Jalily, Chief Technical Officer in Instabank ASA and employee
representative in the board, has been granted 310,000 share options. Following
the grant, he holds 814,417 shares and 1,550,000 options in the Company.

Jørgen Rui, Chief Marketing Officer in Instabank ASA, has been granted 310,000
share options. Following the grant, he holds 1,072,292 shares and 1,550,000
options in the Company.

Henning Munkvold, Deputy employee representative in the board, has been granted
30,000 share options. Following the grant, he holds 471,600 shares and 220,000
options in the Company.

A total of 21,996,800 options for shares in the Company have been distributed
amongst the employees. The number of options granted corresponds to 6.01% of the
outstanding number of shares in the Company. Each option gives the right to
acquire one share in the Company. The options are granted without consideration.

Pursuant to the vesting schedule, 100% of the options will vest December 19th
2023 (vesting is dependent on the option holder still being employed in the
Company).

The exercise price for all options at grant date is NOK 1.50 per share, and the
exercise price will be increased by 5% annually, calculated from December 18th
2020.

Options that are not exercised within 5 years from the date of grant will lapse
and become void.

For further information, please contact:
Robert Berg, CEO rb@instabank.no, +47 974 85 610

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

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