SATS ASA: Results of the 2026 share investment program for employees and award of matching shares under the 2023 share investment program

18 May 2026 18:37 CEST

References are made to the stock exchange announcement published by SATS ASA
(the "Company", OSE ticker "SATS") on 12 May 2026, regarding the resolution by
the board of directors of the Company to implement a new share investment
program (the "2026 Share Investment Program") for all employees of the SATS
Group (the "Eligible Employees") and the stock exchange announcement on 29
March 2023, published in connection with the share investment program
implemented in 2023 (the "2023 Share Investment Program").

The 2026 Share Investment Program

The application period for the 2026 Share Investment Program expired today, on
18 May 2026 at 12:00 hours (noon) (CET).

264 participants in the 2026 Share Investment Program have applied for, and
been allocated, in total 950,548 shares (the "Shares") in the Company. The
Shares will be settled in the form of existing shares in the Company listed on
the Oslo Stock Exchange, held in treasury.

The offer price for the Shares has been set to NOK 31.48, which equals the
volume-weighted average trading price for the Company's shares on the Oslo
Stock Exchange during the 10 trading days' period up to, and including, 15 May
2026 (NOK 40.89), with a reduction of 23%, which reflects the value-reducing
effect of the three-year lock-up period applicable to the Shares (calculated
using the Black & Scholes model).

To facilitate certain of the Eligible Employees' participation in the 2026
Share Investment Program, the general meeting has, in accordance with Section
8-10 (4) of the Norwegian Public Limited Liability Companies Act, resolved
that the Company will grant such participants loans with an aggregate
principal amount of up to NOK 10,000,000, plus interest, to finance parts of
their investment under the 2026 Share Investment Program. In aggregate,
282,435 shares will be settled through such loans. The loans will be on market
terms, interest bearing and with security in the Shares acquired by the
relevant Eligible Employees under the 2026 Share Investment Program. The loans
will be provided to the Eligible Employees' wholly owned holding companies
which will acquire the Shares. A report and statement regarding the loans is
registered in the Norwegian Register of Business Enterprises (Nw.
Foretaksregisteret).

As part of the 2023 Share Investment Program, certain Eligible Employees may,
after a three-year vesting period, be awarded additional shares in the Company
without consideration ("Matching Shares"). The Matching Shares will, subject
to certain conditions being fulfilled, be awarded based on the number of
Shares acquired under the 2026 Share Investment Program. The Matching Shares
will be subject to a one-year lock-up period.


Matching shares under the 2023 Share Investment Program

As part of the 2023 Share Investment Program, certain senior executives and
other key employees (the "Participants"), could be rewarded additional shares
in the Company without consideration (the "Matching Shares") based on the
number of shares originally acquired under the program, subject to certain
conditions being fulfilled. The final allocation is determined by the Board.
The conditions for awarding Matching Shares have been fulfilled. The board of
directors has therefore today resolved to award a total of 857,284 shares to
19 Participants in the 2023 Share Investment Program.

The value of the Matching Shares is NOK 36.07 each, representing the trading
price of the Company's shares at the close of trading on 15 May 2026, with a
16.2% discount to reflect the one-year lock-up obligation.


Prior to the 2026 share investment program and the award of Matching Shares
under the 2023 investment program, the Company owned 3,820,841 shares.
Following the transfers, the Company will have 2,013,009 shares in treasury,
representing approximately 1.01% of the issued share capital.


For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Nordic Investor Relations & Business Development Manager, phone:
+47 986 99 259


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

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