ABL Group ASA: Employee share option program

22 Dec 2022 08:00 CET

22 December 2022 – The Board of Directors of ABL Group ASA (the “Company”) has
granted a total of 1,000,000 share options to employees in accordance with the
Company’s long-term incentive plan (the “LTIP”), where each option will give the
holder the right to acquire one share in ABL Group ASA. The options are granted
without consideration. The grant of options is made to employees that joined ABL
Group in connection with the acquisition of Add Energy in July 2022, and is
aimed to align the interests of the participating employees with those of the
Company's shareholders.

The exercise price for the options is NOK 12.64, equal to the share issue
carried out in connection with the acquisition of Add Energy. Please refer to
the stock exchange notice dated 11 July 2022 for more details. The options will
vest on 11 July 2025. All unexercised options will expire nine months after
vesting, unless extended by the Board of Directors. Exercise periods will be set
by the Company.

The options are non-tradable and conditional upon the option holder being
employed by the Company and not having resigned prior to exercise.

Subject to certain conditions, the option holders are obligated to reinvest 25
percent of the pre-tax net gain on the options in ABL shares, and to hold these
shares for up to three years following exercise. One third of these shares will
be released from this obligation for every year following exercise.

The Board of Directors may choose to settle the options by way of cash
settlement in lieu of issuing new shares. Exercise terms may be reasonably
adjusted by the Board of Directors in the event of dividend payments, share
splits or certain other events relating to the equity share capital of the
Company.

Following the grant of options, the LTIP consists of the following outstanding
options:
- 630,000 options vested 11 June 2022, with exercise price NOK 3.24
- 9,215,000 options vesting 14 December 2023, with exercise price NOK 5.53
- 1,000,000 options vesting 11 July 2025, with exercise price NOK 12.64

For more details on the LTIP, please refer to the Company’s Annual Report and
the remuneration guidelines approved by the 2022 Annual General Meeting.


For further information, please contact:
Haakon Brandrud, Director of Strategy and Corporate Development
Tel: +47 95 07 05 12

About ABL Group
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) offers independent energy and
marine consultancy to the global renewables, maritime and oil and gas sectors.
The group has offices in 38 countries worldwide. ABL Group operates under six
brands: ABL, OWC, Innosea, Longitude, Add Energy and ABL Yachts.

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