Employee share option program

(Oslo, 25. April 2019) The Board of Directors of Axactor SE (the Company) has resolved to grant options to 24 employees of the Company.

The grant of options is based on the authorization from the Company’s annual general meeting of the 10 April 2019 to issue new shares in connection with the Company’s incentive plan for employees, and the same annual general meeting's adoption of the statement of the board regarding long term incentive plans.

A total of 3 680 552 share options was granted in a groupwide program comprising key employees in the Company fulfilling certain criteria. Each option will give the right to one share in the Company.

Pursuant to the vesting schedule, 33,3% of the options will vest one year after the day of grant, 33,3% of the options will vest two years after the day of grant and 33,4% of the options will vest three years after the day of grant. Vesting requires the option holder still to be an employee in the Company. The exercise price is equal NOK 24.50 (first tranche), NOK 26.50 (second tranche) and NOK 28.00 (third tranche) per share. Options that have not been exercised will lapse 5 years after the date of grant.

Primary insiders in the Company have received the following grants of options, according to the terms described above:

Endre Rangnes, CEO of Axactor SE, has been granted 387 427 share options. Following the grant, he holds 2 535 701 shares and 1 623 427 options in the Company.

Johnny Tsolis, EVP - strategy and projects of Axactor SE, has been granted 232 456 share options. Following the grant, he holds 1 570 000 shares and 992 456 options in the Company.

Oddgeir Hansen, COO of Axactor SE, has been granted 154 971 share options. Following the grant, he holds 576 000 shares and 638 971 options in the Company.

Robin Knowles, EVP Portfolio Acquisitions of Axactor SE, has been granted 116 228 share options. Following the grant, he holds 121 887 shares and 425 228 options in the Company.

Bente Brocks, Group Chief Accountant of Axactor SE, has been granted 116 228 share options. Following the grant, she holds 10 800 shares and 175 428 options in the Company.

Vibeke Ly, Head of Group Legal and Compliance of Axactor SE, has been granted 116 228 share options. In addition to the shares granted under this program she has been granted 50 000 warrant under the stock option program approved by the General Assembly in 31 May 2017. Following the grant, she holds 166 228 options in the Company. She does not hold any shares.

For additional information, please contact:

Endre Rangnes, CEO Axactor
Mobile phone: +47 482 21 111
Email: endre.rangnes@axactor.com

Johnny Tsolis, CFO Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com