SalMar – 2024 share-based incentive plan for senior executives and key personnel

In accordance with the authorization granted by the General Meeting of June 6, 2024, the board of directors of SalMar ASA has decided to implement a share-based incentive plan (Restricted Share Unit Plan) for senior executives and key personnel employed by the company and its subsidiaries. . The plan covers a maximum of 300,000 shares and has a duration of three years. The company’s liability under the plan will be covered by existing treasury shares. As of December 19, 2024, SalMar ASA holds 114,554 treasury shares.

The objective of the share-based incentive plan (RSUP) is to encourage employees to maintain a deep, long-term commitment to the company, through better alignment of employees’ interests with those of other shareholders. Under the RSUP, participating individuals will be awarded shares to motivate them to contribute to the company’s continued success and profitability, as well as deliver exceptional results. The RSUP will also strengthen SalMar’s ability to attract and retain staff.

Under the RSUP, participants will receive free restricted stock units (RSUs) which, if certain predefined performance criteria are met during an accumulation period, will be released to them and transferred to them in the form of actions. The RSUP includes three accumulation periods of one, two and three calendar years respectively, with 2024 being the first year. Each accumulation period covers 1/3 of the total number of RSUs included in the plan. An RSU gives the right to conditional action.

The following criteria determine the allocation of RSUs during each of the three accumulation periods:

– The allocation of 1/3 of the RSUs is independent of any performance conditions

– The allocation of one third of the RSUs is dependent on SalMar achieving a certain EBIT/kg higher than other aquaculture companies listed on the Oslo Stock Exchange during the accumulation period.

– The award of one-third of the RSUs is contingent on SalMar shares achieving a higher total shareholder return (TSR) than a defined group of comparable companies during the accumulation period.

Accumulation of RSUs under the Plan assumes that the individual is an employee of SalMar or a participating affiliate. The total earnings from paid-up RSUs in any calendar year must not exceed 100 percent of the participant’s base salary. Under the plan rules, the number of RSUs will be adjusted in the event of a dividend distribution in order to preserve, but not increase, the value of the RSU grant.

The RSUP is effective December 19, 2024 and includes senior management and key personnel of SalMar and its subsidiaries.

Restricted Stock Units Granted to Key Insiders on December 19, 2024:

Frode Arntsen received 4,190 RSUs in the Company

Roger Bekken received 2,984 RSUs in the Company

Eva Haugen received 1,443 RSUs in the Company

Håkon Husby received 1,082 RSUs in the Company

Ingvild Kindlihagen received 498 RSUs in the Company

Runar Sivertsen received 2,094 RSUs in the Company

Ulrik Steinvik received 2,406 RSUs in the Company

Arthur Wisniewski received 1,732 RSUs in the Company

Simon Søbstad received 2,308 RSUs in the Company

New titles:

Following the completion of the above allocation, Frode Arntsen holds 9,377 RSUs in the Company. As of today, the main insider owns 9,324 shares of the Company.

Following completion of the above-mentioned grant, Roger Bekken* holds 6,583 RSUs in the Company. As of today, the main insider owns 16,259 shares of the Company.

Following completion of the above grant, Eva Haugen holds 3,186 RSUs in the Company. As of today, the top insider owns 884 shares of the Company.

Following the completion of the above allocation, Håkon Husby holds 2,381 RSUs in the Company. As of today, the main insider owns 2,190 shares of the Company.

Following the completion of the aforementioned grant, Ingvild Kindlihagen holds 1,095 RSUs in the Company. As of today, the top insider owns 276 shares of the Company.

Following completion of the above grant, Runar Sivertsen** holds 4,182 RSUs in the Company. As of today, the main insider owns 5,959 shares of the Company.

Following the completion of the above allocation, Ulrik Steinvik*** holds 5,311 RSUs in the Company. As of today, the main insider owns 121,855 shares of the Company.

Following completion of the above grant, Arthur Wisniewski holds 3,820 RSUs in the Company. As of today, the main insider owns 3,776 shares of the Company.

Following the completion of the aforementioned allocation, Simon Søbstad holds 4,742 RSUs in the Company. As of today, the primary insider owns 1,737 shares of the Company.

* Holds 16,259 shares directly and indirectly through a personal relative.

**Owns 5,959 shares directly and indirectly through a personal relative.

*** Holds 121,855 shares directly and indirectly through related parties. Also owns 100 percent of the shares of Nordpilan AS. Nordpilan AS owns 0.17 percent of the shares of Kverva AS, which in turn, through Kverva Industrier AS, owns 45.4 percent of the shares of SalMar ASA.

For more information, please contact:

Håkon Husby, Head of Investor Relations

Telephone: + 47 936 30 449

Email: (email protected)

Website: www.salmar.no

This information is subject to disclosure obligations in accordance with article

19 of the EU Market Abuse Regulation and Articles 5-12 of the Norwegian Regulation

Securities Trading Act

Attachment

• Primary Insider Notification Forms 20241219