NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

Reference is made to the stock exchange release of Itera ASA (“Itera” or the
"Company") dated 17 May 2018 at 08:30 hours CEST concerning an offer to buy back
shares in connection with the Company's employee option and share purchase
program (the "Offer"). The Offer expired on 18 June 2020 at 15:00 hours CEST. 

The Company has resolved to buy back 1,500,000 shares, as set out in the Offer,
at a price of NOK 11.45 per share (the “Purchase Price”). The price was
determined through a bookbuilding process. The total number of sales offers
exceeded the amount of shares to be bought back under the Offer, and thus, the
Company has determined certain criteria of allocation of the sales offers based
on the best interest of the Company and equal treatment of its shareholders.

The trade date for the shares will be today 19 June 2020 and settlement will
take place on 23 June 2020 (T+2). 

As a result of the buy back, the Company owns 2,335,057 own shares,
corresponding to 2.8% of the share capital and voting rights in the Company.

SpareBank 1 Markets AS acted as sole bookrunners in connection with the buyback.

For further information, please contact: 
Bent Hammer, CFO 
+47 982 15 497

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