Change of strike price for employee share options

20 Feb 2023 19:18 CET

On February 20, 2023, Airthings ASA (“Airthings” or the “Company”) has agreed to
adjust the strike-price of all Airthings’ employees’ option agreements with a
strike price above NOK 3.20. The total number of options to be adjusted is 5 736
232. The new strike price shall be NOK 3.20. The adjustment shall be made as
soon as practical after the extraordinary general meeting that will be held on
March 9, 2023, and is contingent on the extraordinary general meeting approving
the proposed share capital increase.

“At this juncture, as the Company is undergoing changes to ensure its growth and
long-term profitability, we believe it is important to secure retention and
ensure employees feel proper ownership in the Company,” said Chair Geir Førre
about the decision.

The following primary insiders of Airthings ASA have share options that are
affected by the adjustment:
• Øyvind Birkenes, CEO: 629 200 options adjusted
• Jeremy Gerst, CFO: 292 000 options adjusted
• Audhild Andersen Randa, COO: 192 000 options adjusted
• Erlend Bolle, CPO: 118 000 options adjusted
• Lauren Pedersen, CMO: 345 000 options adjusted
• Anita Øverbekk, HR Manager: 75 000 options adjusted
• Anders Follerås, SVP Airthings for Consumer: 76 000 options adjusted
• Pål Duserud Berntsen, SVP Airthings for Business: 128 200 options adjusted
• Magnus Navdal Bekkelund, VP Finance: 81 854 options adjusted
• Niklas Norin, Board member, employee representative: 129 250 options adjusted
• Chloe Waller, Board member, employee representative: 80 444 options adjusted
• Anlaug Underdal, Deputy board member, employee representative: 42 000 options
adjusted
• Tore Rismyhr, Deputy board member, employee representative: 74 670 options
adjusted

In addition, 3 472 614 other employee options have been adjusted.

For further details, contact:

Jeremy Gerst - CFO
T: +47 455 11 103
E: jeremy.gerst@airthings.com

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

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