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Protecting people and goods for a better everyday

BEWi – Grants under share option program

19 November 2020

On the basis of the approval by the extraordinary general meeting on 16 November 2020 to authorise the board of directors (the “Board”) of Bewi ASA (the “Company”, OSE ticker “BEWI-ME”) to issue new shares to employees under a long-term incentive program, the Board has resolved to issue share options to the CEO and the Group Management in the Company.

A total of 2,625,000 options for shares in the Company have been distributed amongst the employees. The number of options granted corresponds to 1.82 per cent of the outstanding number of shares in the Company. Each option gives the right to acquire one share in the Company. The options are granted without consideration. The options are granted without consideration. Gains per instrument is capped at 3 times exercise price.

Pursuant to the vesting schedule, 20 per cent of the options will vest one year after the day of grant, 30 per cent vest two years after the day of grant and the remaining 50 per cent vest three years after the day of grant (vesting is dependent on the option holder still being employed in the Company).

The exercise price for all options granted is NOK 24.48 per share.

Options that are not exercised within 5 years from the date of grant will lapse and become void.

Primary insiders in Bewi ASA have received the following options grants, on the terms described above:

Chief Executive Officer, Christian Bekken has been granted 250,000 share options. Following the grant, he holds 250,000 options in the Company. Christian Bekken is a member of the Bekken family, who owns a total of 85,939,920 shares in BEWi ASA, representing a total of 59.7 per cent of the total outstanding shares, through their wholly owned investment companies Frøya Invest AS (57.04 per cent), KMC Family AS (1.54 per cent) and Bekken Invest AS (1.12 per cent).

Chief Financial Officer, Marie Danielsson has been granted 250,000 share options. Following the grant, she holds 175,000 shares and 250,000 options in the Company.

Chief Operating Officer, Jonas Siljeskär has been granted 250,000 share options. Following the grant, he holds 93,750 shares and 250,000 options in the Company.

General counsel, secretary to Board, Petra Brantmark has been granted 125,000 share options. Following the grant, she holds 0 shares and 125,000 options in the Company.

Business development, Martin Bekken has been granted 125,000 share options. Following the grant, he holds 93,750 shares and 125,000 options in the Company.

Business development, Karl Erik Bekken has been granted 125,000 share options. Following the grant, he holds 125,000 options in the Company. Karl Erik Bekken is a member of the Bekken family, who controls a total of 59.7 per cent of the outstanding shares in the Company, see details above.

Director of IR and Communications, Charlotte Knudsen has been granted 125,000 share options. Following the grant, she holds 0 shares and 125,000 options in the Company.

Group Accounting Manager, Anders Dahlström has been granted 125,000 share options. Following the grant, he holds 0 shares and 125,000 options in the Company.

For further information, please contact:
Charlotte Knudsen, Director of Communication and IR, BEWi ASA, tel: +47 9756 1959

About BEWi ASA
BEWi is a leading international provider of packaging, components and insulation solutions, in Europe. The company’s commitment to sustainability is integrated throughout the value chain, from the production of raw materials and end goods, to the recycling of used products. Since the start in the Norwegian archipelago at Frøya in 1980, the company has created value for its customers by offering sustainable solutions in innovative and efficient ways. With a vision to protect people and goods for a better every day, BEWi is leading the change towards a circular economy.

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