SATS ASA: Result of New Share Investment Programme for the executive management and certain other key employees

Oslo, 28 September 2022. 

Reference is made to the stock exchange notice on 26 September 2022 published by
SATS ASA (the "Company"), regarding the implementation of the new share
investment programme (the "Investment Programme") for members of the executive
management and certain other key employees of the Company and its subsidiaries
(the "Eligible Employees"). The Application Period expired on 27 September 2022
at 20:00 hours (CEST).

11 Eligible Employees have applied for a total of 553,313 shares in the Company
by the end of the Application Period. The shares will be delivered in the form
of existing shares held in treasury by the Company to the Eligible Employees.

The offer price (before discount) for the shares is NOK 7.57, 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 Eligible Employees will receive a discount of 25% of the offer
price, and the price payable per share is hence NOK 5.67.

As part of the Investment Programme, a certain group of Eligible 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 Investment
Programme, subject to certain conditions being fulfilled.

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