Össur hf. - Company Announcement

Ossur Hf : Össur hf. continues with a "Safe Harbor" share buyback program on Nasdaq Copenhagen

Announcement from Össur hf. No. 96/2016
Reykjavík, 30 November 2016


Össur hf. has decided to initiate a new share buyback program (the "Program") on
Nasdaq  Copenhagen  tomorrow,  1 December  2016, which  will  replace  the share
buyback  program initiated 3 December  2015. The Program will  be carried out in
accordance  with Regulation No.  596/2014 of the European  Parliament and of the
Council  on  market  abuse  ("MAR"),  and  the Commission's delegated regulation
2016/1052. The  purpose of the Program is  to reduce the Company's share capital
and adjust the capital structure by distributing capital to shareholders in line
with  the  Company's  Capital  Structure  and  Dividend  Policy. The Company may
purchase  up to 5,000,000 shares under the Program, corresponding to 1.2% of the
current  share capital. The  total consideration for  shares purchased under the
Program  shall not  exceed USD  10 million (approx.  DKK 70 million).  The daily
purchase  shall  not  exceed  25% of  the  average volume in the 20 trading days
before  the purchase. The purchase  price shall not be  higher than the price of
the  last independent trade or the highest current independent bid, whichever is
higher.  The Program  will be  managed by  Nordea, which  shall make its trading
decisions  independently and without influence by the Company with regard to the
timing  of the  purchases. The  Company's purchases  under the  Program shall be
disclosed  in accordance with law and regulations. The Program will end no later
than 30 November 2017, but the Company is entitled to discontinue the Program at
any time.

The  Company also reserves the right to  buy back shares in block trades outside
the Program with the aim to maintain net interest bearing debt at 0.5x - 1.5x to
EBITDA.  Such transactions will only be made  in "open windows", i.e. within six
weeks  from  the  publication  of  the  Company's financial results, and when no
insider   information   is   available.  Such  transactions  will  be  announced
immediately after they have been carried out.

According  to an  authorization granted  by the  Annual General Meeting in March
2015, the  Company  is  allowed  to  purchase  own  shares  of  up to 10% of the
Company's  share capital as  it stands each  time. The authorization states that
the  purchase price shall not  be higher than the  price of the last independent
trade  or  the  highest  current  independent  bid,  whichever is higher, on the
regulated  market where  the transaction  is carried  out. The  authorization is
valid until 12 March 2020.


Contact persons:

Jón Sigurðsson, President & CEO                                   Tel:
+354 515 1300



Sveinn Sölvason, CFO                                                     Tel:
+354 515 1300

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About Össur Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopedics
that help people live a life without limitations. Its business is focused on
improving people's mobility through the delivery of innovative technologies
within the fields of braces, supports and prosthetic limbs. A recognized
"Technology Pioneer", Össur invests significantly in research and product
development; its award-winning designs ensuring a consistently strong position
in the market. Successful patient and clinical outcomes are further empowered
via Össur's educational programs and business solutions.  Headquartered in
Iceland, Össur has major operations in the Americas, Europe and Asia, with
additional distributors worldwide. www.ossur.com
Forward-Looking Statement This press release includes "forward-looking
statements" which involve risks and uncertainties that could cause actual
results to differ materially from results expressed or implied by these
statements. Össur hf. undertakes no obligation and does not intend to update
these forward-looking statements to reflect events or circumstances occurring
after this press release. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in their entirety by this
cautionary statement.

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