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.

Itera ASA ("Itera" or the "Company") has decided to launch an offer to all
shareholders in the Company to buy back up to 1,500,000 shares in the Company in
connection with its employee option and share purchase program. The buyback will
be conducted as a reverse book-building process at an offer price of up to NOK
11.45 per share. The maximum offer price per share represents a 2% premium to
the closing price of the Company´s shares on 16 June 2020. As at today, 17 June
2020, the Company owns 835,057 own shares. 

The book building period commences today, Wednesday 17 June 2020 at 09:00 hours
CEST and is expected to close at 15:00 hours CEST on Thursday 18 June 2020. The
Company reserves the right to accept sales offers received after the end of the
book building period, as well as to close or extend the book building period at
any time and for any reason in its sole discretion without further notice. 

Sales offers are irrevocable and cannot be withdrawn once received, however if
the book building period is extended, sales offers can be withdrawn up to the
expiry of the extended book-building period.

The execution of any repurchases will depend on market conditions. The Company
will determine criteria for the allocation of the acceptances in accordance with
the best interest of the Company and the equal treatment of shareholders. The
Company may decide to repurchase fewer shares than set out above, or choose to
repurchase no shares at all, at its sole discretion.

SpareBank 1 Markets AS acts as sole bookrunner in connection with the buyback,
and shareholders wanting to sell shares can contact SpareBank 1 Markets AS at
+24 24 14 74 70.

The buyback will be based on the authorisation provided by the Company’s annual
general meeting held on 25 May 2020.

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.

The offer contemplated hereby and the distribution of this announcement and
other information in connection with the offer may be restricted by law in
certain jurisdictions. 

Itera ASA does not assume any responsibility in the event there is a violation
by any person of such restrictions. Persons into whose possession this
announcement or such other information should come are required to inform
themselves about and to observe any such restrictions. The offer is not being
made directly or indirectly in, or by use of the mails of, or by any means or
instrumentality of interstate or foreign commerce of, or any facilities of a
national securities exchange of, the United States, its territories and
possessions, any State of the United States and the District of Columbia (the
"United States"). This includes, but is not limited to, facsimile transmission,
internet delivery, e-mail, telex and telephones. Accordingly, copies of this
release and any related documents are not being, and must not be, mailed,
e-mailed or otherwise distributed or sent in or into the United States and so
doing may invalidate any purported acceptance.