SATS ASA: Result of New Share Investment Programme for all employees

Oslo, 22 November 2021

Reference is made to the stock exchange notice on 11 November 2021 and 18
November 2021 published by SATS ASA (the "Company"), regarding the
implementation of the new share investment programme (the "Investment
Programme")for all employees of the company and its subsidiaries (except the
executive management)(the "Eligible Employees") and extension of the application
period under the Investment Programme. The extended application period expired
today, on 22 November 2021 at 10:00 CET.

More than 200 Eligible Employees have applied for a total of 603,649 new shares
in the Company by the end of the Application Period. In accordance with the
authorisation to increase the share capital by the issuance of new shares
granted by the Company's annual general meeting 11 May 2021, the board of
directors have today resolved to increase the share capital in connection with
the Company's Investment Programme minimum NOK 1,000,000 and maximum NOK
1,282,754.125 by the issuance of up to 603,649 new shares. All new shares have
been subscribed for by the Eligible Employees who have applied for shares in the
Investment Programme. The Company reserves the right to cancel subscriptions by
any subscriber if the subscriber fails to make timely payment for the shares to
the Company.

The offer price (before discount) for the new shares is NOK 23.4620, which
equals the volume weighted average share price for the Company's shares on the
Oslo Stock Exchange during the 10 trading days prior to the expiry of the
Application Period. The subscribers will receive a discount of 20% or 15% of the
offer price, depending on the length of the lock-up period and the subscription
prices for the new shares are hence NOK 18.7696 and NOK 19.9427, respectively.

As part of the Investment Programme, certain key employees may, after the
expiration of their respective lock-up period, be awarded additional shares in
the Company without consideration ("Matching Shares") in the ratio of 0.33:1
based on the number of shares originally acquired under the Share Investment
Program, subject to certain conditions being fulfilled.

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Martin Stenshall, acting Finance and Investor Relations Manager, phone: +47 473
38 331