AMSC ASA: Sale of treasury shares to CEO and CFO

19 January 2024 - Reference is made to AMSC ASA's ("ASMC" or the "Company") stock exchange notice dated 18 December 2023 where AMSC announced the completion of the purchase of 150,000 treasury shares in connection with its incentive scheme for employees.

Out of the total number of acquired shares, 100,000 shares have been sold to the Company's CEO, Pål Magnussen, and 50,000 shares have been sold to MB Capital AS, a company controlled by the Company's CFO, Morten Bakke, each at a price per share of NOK 22.68, corresponding to today's closing price of NOK 28.35, less a price reduction of 20% to compensate for lock-up restrictions on the shares for a period of three years.

Following the transaction, the Company holds 0 treasury shares, Pål Magnussen (CEO) holds a total of 240,000 shares in AMSC, constituting approximately 0.33% of the Company's shares and votes, and Morten Bakke (CFO), through MB Capital AS, holds a total of 150,000 shares in AMSC, constituting approximately 0.21% of the Company's shares and votes.

Please see the attached notification for persons discharging managerial responsibilities in AMSC in accordance with Regulation EU 596/2014 (MAR) article 19.

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This release is an announcement subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.