poLight ASA - Amendments to share option plan - grant of share options to primary insiders

14 Jun 2024 16:25 CEST

Horten, 14 June 2024 - In accordance with the authorisation granted by the
Annual General Meeting on 22 May 2024 new share option agreements have been
granted today.

The offer is made to provide the Company's employees and consultants with long
-term incentives in order to contribute to positive development of the Company.

The main terms of the new share options are as set out below:

  · Each share option gives the right to require issuance of one new share in
the Company;

  · The options vest over 3 years;

  · Exercisable options may be exercised during certain exercise periods to be
determined by the Board of Directors from time to time;

  · Any vested options that are not exercised during an exercise period will be
transferred to the subsequent exercise period;

  · The options expire 5 years after their grant. Following such date, the
options are void and cancelled;

  · If an offeror becomes the owner of at least 9/10 of the issued shares of the
Company, all of the employee's unvested Options shall become immediately vested;

and

  · The strike price for each option is NOK 3.2 based on volume weighted average
price (VWAP) the last two weeks prior to grant date.

As of today, the following primary insiders have accepted the offer and holds
share options as further described below:

Øyvind Isaksen, CEO, has accepted to replace 1,926,530 existing share options
with new share options and extend the expiry date of 157,215 share options with
one year and holds:

  · 157,215 share options with a strike price of NOK 3.78 per option all
exercisable

 · 1,926,530 share options with a strike price of NOK 3.2 per option with a
vesting period of three years from June 2024.

  · The total holding of Øyvind Isaksen is 317,625 shares (held through OiMaCon
AS) and 2,083,745 share options.

Pierre Craen, CTO, has accepted to replace 410,615 existing share options with
new share options and holds:

· 410,615 share options with a strike price of NOK 3.2 per option with a vesting
period of three years from June 2024.

  · The total holding of Pierre Craen is 16,992 shares and 410,615 share
options.

Marianne Sandal, COO, has accepted to replace 458,615 existing share options
with new share options and holds:

· 458,615 share options with a strike price of NOK 3.2 per option with a vesting
period of three years from June 2024.

  · The total holding of Marianne Sandal is 34,078 shares and 458,615 share
options.

Alf Henning Bekkevik, CFO, has accepted to replace 351,115 existing share
options with new share options and holds:

· 351,115 share options with a strike price of NOK 3.2 per option with a vesting
period of three years from June 2024.

  · The total holding of Alf Henning Bekkevik is 61,096 shares and 351,115 share
options.

Rolf Joakim Hines Bredahl, CFO from 2 September 2024, has been granted 250,000
share options and holds:

· 250,000 share options with a strike price of NOK 3.2 per option with a vesting
period of three years from June 2024.

  · The total holding of Rolf Joakim Hines Bredahl is 0 shares and 250,000 share
options.

All other employees will also be offered to replace the existing agreements
based on the same terms.

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

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

About poLight ASA

poLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics
technology, leveraging its proprietary polymer and piezo MEMS technology.
Founded in 2005, its first product TLens® replicates "the human eye" experience
in autofocus cameras used in applications such as AR/MR devices, smartphones,
wearables, webcams and other consumer devices, industrial barcode scanners and
machine vision systems, and healthcare applications. With over 160 granted
patents, poLight's technology delivers extremely fast focus, small
footprint, ultra-low power consumption, no magnetic interference, and constant
field of view, enabling better imaging system performance and new user
experiences compared to alternative technologies.  poLight is based in Horten,
Norway, with employees in Finland, France, UK, US, China, Taiwan, and the
Philippines. For more information, please visit https://www.polight.com.

More information:
Access the news on Oslo Bors NewsWeb site

621585_2024_06_14_Notification_form_Marianne_Sandal.pdf
621585_2024_06_14_Notification_form_Pierre_Craen.pdf
621585_2024_06_14_Notification_form_Alf_Henning_Bekkevik.pdf
621585_2024_06_14_Notification_form_Oyvind_Isaksen.pdf
621585_2024_06_14_Notification_form_Oyvind_Isaksen_extention.pdf