SATS ASA: Mandatory notification of trade

Oslo, 27 September 2022: As part of the process to liquidate SATS Management Invest AS (“SMI”), as described in section 13.3 of the prospectus published in connection with the initial public offering of shares in SATS ASA (the “Company”) and the related listing on the Oslo Stock Exchange, SMI has transferred 395,120 shares in the Company to HFN Group AS (“HFN”) as partial repayment of loans granted by HFN to SMI, and 58,490 shares in the Company to certain of its other shareholders, none of which are primary insiders of the Company. The price per share used in the transactions was NOK 15.055, which is equal to the volume-weighted average price of the Company’s shares on the Oslo Stock Exchange during the seven trading days period following the publication of the Company’s report for the first quarter of 2022 (3 May 2022 to (and including) 11 May 2022).

SMI is a closely related party of the primary insiders Cecilie Elde (the Company’s CFO) and Sondre Gravir (the Company’s CEO).

Please refer to the notification of trading attached to the original stock exchange announcement for further details.

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