Share buybacks

The board of directors of SATS ASA (“SATS” or the “Company”) has resolved to implement a new share investment program for senior executives and certain other key employees of the Company (the “Eligible Employees”) with a view to align the interests of the Eligible Employees with those of the Company’s shareholders.

The shares will be delivered to the Eligible Employees as a combination of new shares to be issued by the Company and existing shares to be acquired by the Company in the market pursuant to a buyback program. The purpose of the share buyback program is thus to obtain treasury shares for  settlement of the Company’s new share investment program, but also for partly fulfillment of matching shares for the new share investment program, and for delivery of matching shares under a previous share investment program.

The share buyback program represents approx. 1% of the share capital of the Company, with a maximum of 2,000,000 shares at a maximum consideration of NOK 30,000,000. The minimum price payable per share in the share buyback program is NOK 2.00 and the maximum price payable per share is NOK 15.00. The repurchase will be conducted in the period from March 31, 2023, until the earlier of the day before the Company’s annual general meeting in 2023 (expected on or about May 31, 2023) and the date the maximum numbers of shares have been repurchased.