SATS ASA: Additional investment by CEO in the Share Investment Program

Reference is made to the stock exchange announcement published by SATS ASA (“SATS” or the “Company”) on 1 October 2020, regarding the expansion of the Company’s share investment program (the “Share Investment Program”) by way of an additional investment of NOK 1,750,000 by the Company’s CEO, Sondre Gravir.

The offer price (before discount) for the shares to be acquired by Sondre Gravir under the Share Investment Program is set at NOK 17.98, which equals the volume-weighted average share price for the Company’s shares on the Oslo Stock Exchange during the 10 trading days from and including 23 September 2020. The offer price after discount is thus NOK 14.38.

Based on this, the number of shares to be acquired by Sondre Gravir is 95,952. Following completion of the transaction, Sondre Gravir will hold 425,377 shares in the Company, in addition to the shares held by him in SATS Management Invest AS, which owns 9,376,376 shares in the Company, corresponding to approximately 5.5% of the shares in the Company.

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