Exercise of employee share options

On March 15th 27.992.250 options in the Company was exercised and 27.992.250 shares will be issued by the company.

Options exercised by primary insiders:

Endre Rangnes has exercised 8 640 000 options in the Company, corresponding to

8 640 000 shares at the strike price of NOK 1,075.

Johnny Tsolis has exercised 5 400 000 options in the Company, corresponding to

5 400 000 shares at the strike price of NOK 1,075.

Oddgeir Hansen has exercised 2 160 000 options in the Company, corresponding to

2 160 000 shares at the strike price of NOK 1,075.

Robin Knowles has exercised 2 160 000 options in the Company, corresponding to

2 160 000 shares at the strike price of NOK 1,075.

Siv Farstad has exercised 810 000 options in the Company, corresponding to

810 000 shares at the strike price of NOK 1,075.

Lars Valseth has exercised 216 000 options in the Company, corresponding to

216 000 shares at the strike price of NOK 1,075.

Bente Brocks has exercised 108 000 options in the Company, corresponding to

108 000 shares at the strike price of NOK 1,075.

Anders Gulbrandsen has exercised 108 000 options in the Company, corresponding to

108 000 shares at the strike price of NOK 1,075.

3. Transfer of rights

On March 15th the primary insiders Robin Knowles and Lars Valseth transferred their rights to receive shares resulting from the exercise of options to a third party. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Still, primary insiders cannot be held liable for losses incurred by the third party if the shares are later sold below the strike price. Final compensation for the transferred rights will be reported to Oslo Børs when known.

4. Purchase of shares

On March 15th, the primary insiders Robin Knowles and Lars Valseth entered into an agreement to use 100 % of the compensation mentioned in item 3 to purchase shares. When known, the final number of shares, along with the compensation, will be reported to Oslo Børs.

5. New holding

After exercising options, primary insider holds;

Endre Rangnes holds unexercised options in the Company, corresponding to 7.360.000 shares at the average strike price of NOK 1,271 and unexercised options corresponding to 5.000.000 shares at the average strike price of NOK 3,350

Johnny Tsolis holds unexercised options in the Company, corresponding to 4.600.000 shares at the average strike price of NOK 1,271 and unexercised options corresponding to 3.000.000 shares at the average strike price of NOK 3,350

Oddgeir Hansen holds unexercised options in the Company, corresponding to 1.840.000 shares at the average strike price of NOK 1,271 and unexercised options corresponding to 3.000.000 shares at the average strike price of NOK 3,350

Robin Knowles holds unexercised options in the Company, corresponding to 1.840.000 shares at the average strike price of NOK 1,271 and unexercised options corresponding to 1.250.000 shares at the average strike price of NOK 3,350

Siv Farstad holds unexercised options in the Company, corresponding to 690.000 shares at the average strike price of NOK 1,271 and unexercised options corresponding to 1.000.000 shares at the average strike price of NOK 3,350

Lars Valseth holds unexercised options in the Company, corresponding to 184.000 shares at the average strike price of NOK 1,271

Bente Brocks holds unexercised options in the Company, corresponding to 92.000 shares at the average strike price of NOK 1,271

Anders Gulbrandsen holds unexercised options in the Company, corresponding to 92.000 shares at the average strike price of NOK 1,271 and unexercised options corresponding to 200.000 shares at the average strike price of NOK 3,350

For additional information, please contact:

Johnny Tsolis, CFO, Axactor

Mobile phone: +47 913 35 461

Email: johnny.tsolis@axactor.com