Investors

ANNUAL GENERAL MEETING 23 APRIL 2020

The Annual General Meeting of Kitron was held on Thursday 23 April 2020 at 10:00 a.m. CEST at the head office of Kitron ASA, Olav Brunborgs vei 4, 1396 Billingstad, Norway.

ANNUAL GENERAL MEETINGS

MANDATES

DIVIDEND

The Annual General Meeting approved the proposed authorization to the board to resolve dividends on the basis of the annual accounts, cf. the Norwegian Public Limited Liability Companies Act section 8-2, second paragraph. The board of directors shall, when using the authorization, make its decision in accordance with the company’s approved dividend policy. The board of directors shall before each decision to approve the payment of dividends consider if the company, after the payment of dividends, will have sufficient equity and liquidity. The authorization is limited to a total amount of NOK 90 million and shall be valid until the next annual general meeting, but not beyond 30 June 2021

INCREASING THE SHARE CAPITAL

The ordinary general meeting of 23 April 2020 authorised the board to execute one or more share capital increases by issuing a number of shares maximized to 10 per cent of Kitron’s registered share capital at 23 April 2020. The total amount by which the share capital may be increased is NOK 1 791 039.90. The authority applies until the ordinary general meeting in 2021 but no longer than 30 June 2021. The authorization is limited to encompass capital requirements or issuance of consideration shares in relation to strengthening of Kitron ASA’s equity, acquisition of other companies or businesses, joint ventures or joint business operations, for remuneration to the members of the board of directors of Kitron ASA, for incentive schemes, and acquisition of property and business within Kitron ASA’s purpose.

OWN SHARES

The ordinary general meeting on 23 April 2020 authorised the board to acquire own shares for a total nominal value of up to NOK 1,791,039.90 which is equal to 10 per cent of Kitron’s registered share capital at 23 April 2020. The authorization also includes contract liens in the shares of Kitron ASA. Under this authorization the board of directors may pay minimum NOK 1 per share and maximum the prevailing market price per share on the day the offer is made, provided, however, that the maximum amount does not exceed NOK 25 per share. The authority is valid until the ordinary general meeting in 2021 but no longer than 30 June 2021.