Exercise of share options associated with the share option program by primary insiders.

Option holders in Scana ASA’s share option program have today exercised 2,420,000 options.

Primary insider Torvald Ulland Reiestad, Chief Financial Officer in Scana, has exercised 420,000 options granted on 26 June 2020. The exercise price for the share options is 1.331 per share.

Following the transaction Torvald Ulland Reiestad owns a total of 598,660 shares.

Primary insider Oddbjørn Haukøy, Chief Business Officer in Scana, has exercised 2,000,000 options granted on 24 January 2022. The exercise price for the share options is 1.40 per share. Subsequently Haukøy has sold the 2,000,000 shares to be received following the exercise.

Following the exercise and subsequent sale of shares, Oddbjørn Haukøy will continue to have a consolidated holding of 38,187,747 shares, where 34,187,143 shares are held by his investment company, No Surrender AS, and 4,000,604 shares are held by his related party, Subsea Independent AS.

The exercised options will be settled by issuance of new shares, increasing the Company’s share capital to NOK 452,392,900 divided into 452,392,900 shares.

Please see attached transaction notifications for further details.

All exercised options have been granted in accordance with the company’s share option program. This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact: 
Pål Selvik, Chief Executive Officer, Scana ASA, +47 970 46 502

Anette Netteland Dybvik, Head of Investor Relations and Communication, +47 416 67 787

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