AMSC ASA: Completed buyback of own shares

Reference is made to AMSC ASA’s (“ASMC” or the “Company”) stock exchange notice dated 12 December 2023 where AMSC announced its intent to purchase 150,000 treasury shares in connection with its incentive scheme for employees. AMSC has today completed the buyback of 150,000 treasury shares in the Company on Oslo Børs at an average price of NOK 27.48 per share, which implies a total consideration of NOK 4,121,516. The purchase of treasury shares was carried out in accordance with an authorization granted by the Annual General Meeting of the Company held on 25 April 2023.

Date on which the buy-back program was announced: 12 December 2023

The duration of the buy-back program: From 13.12.2023 until filled

Following the transaction, the Company holds 150,000 treasury shares, constituting approximately 0.21% of the Company’s shares and votes. A detailed overview of all transactions made under the buy-back programme that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

This is information that AMSC ASA is obliged to make public pursuant to the Market Abuse Regulation and subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

As announced on 12 December 2023, 100,000 shares will be sold to Pål Magnussen, CEO of AMSC, and 50,000 shares will be sold to MB Capital AS, a company controlled by Morten Bakke, CFO of AMSC, as part of the incentive scheme for the Company’s employees. The purchase price shall be the closing price in the AMSC shares on Oslo Børs at the date AMSC delivers the shares to the employees, less a price reduction of 20% to compensate for lock-up restrictions on the shares for a period of three years. A separate stock exchange notice will be published when such sale is carried out.

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