Ice Group ASA – New share option program

Oslo, 3 February 2021: The Board of Directors of Ice Group ASA (the "Company") has approved a new long-term incentive (LTI) program aimed to align the interests of the participating employees with those of the Company's shareholders. The program is discretionary, and participants are invited on an annual basis.

The total number of options granted in this year’s program is 2,019,000 (1% of outstanding shares) where each option will give the holder the right to acquire one Ice Group ASA share. The options are granted with 550,000 options to CEO, 180,000 options to each of the other non-resigned members of the executive management team and up to 569,000 options in total to other key employees. The program includes a cap on profit equal to 5x annual salary per employee.

The strike price of the options is NOK 25. The options will have a vesting period of four years, with 25% of the options vesting each year and first vesting one year after the grant date. Two exercise periods per year will be set by the Company. The options will expire 7 years after the grant date.

After these grants, the members of the management team in the Company has the following holdings in the Company’s shares and bonds:

Name

Position

Shares

Options

Eivind Helgaker

Chief Executive Officer

159 301

1 350 000

Henning Karlsrud

Chief Financial Officer

31 243

250 000

Martin Westersø

Chief of Staff

17 844

430 000

Shiraz Abid

Chief Commercial Officer

5 280

430 000

Hans Heggenhaugen

B2B Director

9 379

430 000

Jan-Erik Hvidsten

CTIO

861

430 000

Reynir Johannesson

Communications Director

2 982

430 000

Cathrine Wiig Ore

General Counsel

3 445

250 000

Contact:
Henning Karlsrud, CFO, tel: +47 930 45 389, email: henning.karlsrud@icegroup.com

About Ice Group ASA
Ice Group is a telecommunications company with a nationwide network in Norway. The company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers.

Disclaimer

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

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About Ice Group ASA

Ice Group is a telecommunications company with a nationwide network in Norway. The company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers.

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