SATS ASA: Mandatory notification of trade

Oslo, 21 December 2022: In connection with the 2020 incentive program of SATS ASA (the "Company"), certain close associates of primary insiders of the Company debt financed their acquisition of shares. The following close associates of primary insiders have refinanced such debt, and have in this respect pledged shares in the Company as detailed below and in the attached form: • Gravir Invest AS, a close associate of the Chief Executive Officer Sondre Gravir, has pledged 736,273 shares in the Company. • Moneypenny, a close associate of the Chief Financial Officer Cecilie Elde, has pledged 225,084 shares in the Company. • Skogstua Invest AS, a close associate of the Nordic Director of Customer Journey and Sales Process Gaute Thu Sandal, has pledged 139,103 shares in the Company. • Marianne Orderud AS, a close associate of the Director of Marketing, Communication and Digital Sales Marianne Orderud, has pledged 205,961 shares in the Company. • Evert Holding AS, a close associate of the Country Manager Norway Wenche Evertsen, has pledged 191,975 shares in the Company. The transactions are notifiable pursuant to Article 19 of the Market Abuse Regulation. The disclosures set out in this announcement are subject to the disclosure requirement pursuant to section 5-12 of the Norwegian Securities Trading Act.