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Thin Film Electronics ASA - Mandatory Notice of Trades - Grant of Incentive Subscription Rights

Oslo, 20 January 2021

Thin Film Electronics ASA ("Thinfilm", the "Company") issues this notice on behalf of certain primary insiders in the Company.

On 20 January 2021, Kevin Barber, CEO of Thinfilm, was granted 11,647,726 incentive subscription rights ("SRs") in the Company. The exercise price of the SRs is NOK 0.6225 per share. 50% of the SRs vest after one year following the date of grant, while the remaining 50% vest two years after the date of grant. The SRs expire on 19 August 2025. After the grant and upon registration of the share capital increase associated with the approved warrant exercises announced by the Company on 6 January 2021, Mr. Barber holds 1,818,180 shares, 909,090 Warrants B and 43,979,286 SRs in Thinfilm.

On 20 January 2021, David Williamson, acting CFO of Thinfilm, was granted 1,455,966 SRs in the Company. The exercise price of the SRs is NOK 0.6225 per share. 50% of the SRs vest after one year following the date of grant, while the remaining 50% vest two years after the date of grant. The SRs expire on 19 August 2025. After the grant, Mr. Williamson holds 0 shares and 5,338,146 SRs in Thinfilm.

On 20 January 2021, Arvind Kamath, EVP technology development & manufacturing in the Thinfilm group, was granted 4,367,897 SRs in the Company. The exercise price of the SRs is NOK 0.6225 per share. 50% of the SRs vest after one year following the date of grant, while the remaining 50% vest two years after the date of grant. The SRs expire on 19 August 2025. After the grant, Mr. Kamath holds 0 shares and 15,994,701 SRs in Thinfilm.

On 20 January 2021, Morten Opstad, Chair of the board, was granted 2,341,527 SRs in the Company. The exercise price of the SRs is NOK 0.15 per share. 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the first Annual General Meeting after the date of grant and 30 June in the year of such Annual General Meeting, and the remaining 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the Annual General Meeting in the subsequent year and 30 June in such subsequent year. The SRs expire on 19 August 2025. After the grant and upon registration of the share capital increase associated with the approved warrant exercises announced by the Company on 6 January 2021, Mr. Opstad and close associates holds 4,938,847 shares, 1,966,542 Warrants B, 846,308 Warrants C, and 6,941,527 SRs in Thinfilm.

On 20 January 2021, Jon Castor, member of the board, was granted 2,341,527 SRs in the Company. The exercise price of the SRs is NOK 0.6225 per share. 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the first Annual General Meeting after the date of grant and 30 June in the year of such Annual General Meeting, and the remaining 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the Annual General Meeting in the subsequent year and 30 June in such subsequent year. The SRs expire on 19 August 2025. After the grant and upon registration of the share capital increase associated with the approved warrant exercises announced by the Company on 6 January 2021, Mr. Castor holds 1,909,089 shares, 909,090 Warrants B, 90,909 Warrants C, and 7,341,527 SRs in Thinfilm.

On 20 January 2021, Kelly Doss, member of the board, was granted 1,170,763 SRs in the Company. The exercise price of the SRs is NOK 0.6225 per share. 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the first Annual General Meeting after the date of grant and 30 June in the year of such Annual General Meeting, and the remaining 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the Annual General Meeting in the subsequent year and 30 June in such subsequent year. The SRs expire on 19 August 2025. After the grant and upon registration of the share capital increase associated with the approved warrant exercises announced by the Company on 6 January 2021, Ms. Doss holds 1,242,423 shares, 454,545 Warrants B, 333,333 Warrants C, and 3,670,763 SRs in Thinfilm.

On 20 January 2021, Preeti Mardia, member of the board, was granted 1,170,763 SRs in the Company. The exercise price of the SRs is NOK 0.15 per share. 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the first Annual General Meeting after the date of grant and 30 June in the year of such Annual General Meeting, and the remaining 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the Annual General Meeting in the subsequent year and 30 June in such subsequent year. The SRs expire on 19 August 2025. After the grant, Ms. Mardia holds 342,053 shares, 333,333 Warrants C, and 3,470,763 SRs in Thinfilm.

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


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