The 2026 Share Investment Program

The application period for the 2026 Share Investment Program expired today, on 18 May 2026 at 12:00 hours (noon) (CET).
 
264 participants in the 2026 Share Investment Program have applied for, and been allocated, in total 950,548 shares (the "Shares") in the Company. The Shares will be settled in the form of existing shares in the Company listed on the Oslo Stock Exchange, held in treasury.
 
The offer price for the Shares has been set to NOK 31.48, which equals the volume-weighted average trading price for the Company’s shares on the Oslo Stock Exchange during the 10 trading days' period up to, and including, 15 May 2026 (NOK 40.89), with a reduction of 23%, which reflects the value-reducing effect of the three-year lock-up period applicable to the Shares (calculated using the Black & Scholes model).
 
To facilitate certain of the Eligible Employees' participation in the 2026 Share Investment Program, the general meeting has, in accordance with Section 8-10 (4) of the Norwegian Public Limited Liability Companies Act, resolved that the Company will grant such participants loans with an aggregate principal amount of up to NOK 10,000,000, plus interest, to finance parts of their investment under the 2026 Share Investment Program. In aggregate, 282,435 shares will be settled through such loans. The loans will be on market terms, interest bearing and with security in the Shares acquired by the relevant Eligible Employees under the 2026 Share Investment Program. The loans will be provided to the Eligible Employees' wholly owned holding companies which will acquire the Shares. A report and statement regarding the loans is registered in the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).
 
As part of the 2023 Share Investment Program, certain Eligible Employees may, after a three-year vesting period, be awarded additional shares in the Company without consideration ("Matching Shares"). The Matching Shares will, subject to certain conditions being fulfilled, be awarded based on the number of Shares acquired under the 2026 Share Investment Program. The Matching Shares will be subject to a one-year lock-up period.
 
 
Matching shares under the 2023 Share Investment Program
 
As part of the 2023 Share Investment Program, certain senior executives and other key employees (the "Participants"), could be rewarded additional shares in the Company without consideration (the "Matching Shares") based on the number of shares originally acquired under the program, subject to certain conditions being fulfilled. The final allocation is determined by the Board.
The conditions for awarding Matching Shares have been fulfilled. The board of directors has therefore today resolved to award a total of 857,284 shares to 19 Participants in the 2023 Share Investment Program.

The value of the Matching Shares is NOK 36.07 each, representing the trading price of the Company's shares at the close of trading on 15 May 2026, with a 16.2% discount to reflect the one-year lock-up obligation.
 
 
Prior to the 2026 share investment program and the award of Matching Shares under the 2023 investment program, the Company owned 3,820,841 shares. Following the transfers, the Company will have 2,013,009 shares in treasury, representing approximately 1.01% of the issued share capital.
 
 
For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Nordic Investor Relations & Business Development Manager, phone: +47 986 99 259
 

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