Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2024

20 Jun 2024 08:45 CEST

At Mowi ASA's (the "Company") annual general meeting ("AGM") on 30 May 2024 the
Board of Directors was authorised to grant options under the Share Option Scheme
to Senior Executives, as described in Mowi's guidelines for remuneration of
leading personnel (the "Guidelines"). On 19 June 2024 the Board of Directors
granted 1.71 million options at a strike price of NOK 201.6120, corresponding to
107.5% of the volume weighted average share price on the Oslo Stock Exchange at
the date of the AGM, to a total of 39 individuals.

In accordance with the Guidelines, the options have a term of 4 years but will
become exercisable immediately if a mandatory bid is made for all of the shares
in Mowi, if a voluntary offer is followed-up with a forced transfer of shares in
accordance with the Norwegian Securities Trading Act or if Mowi is the non-
surviving entity in a merger with another company.

The exercise of 50% of the options awarded to an option holder is conditional on
achievement of performance criteria, measured in the development of the share
price of the Company's shares compared with those of peers ("Performance-based
Options"). The exercise of the remaining 50% of the options awarded to an option
holder is not conditional on achievement of such performance criteria ("Ordinary
Options").

The number of shares and the strike price will be adjusted for dividends and
changes in the equity capital during the term of the option according to the
Oslo Stock Exchange's derivative rules and provisions in the option agreements.
Total profit through the exercise of Performance-based Options in a year is
capped at one year's salary for the option holder, and total profit through the
exercise of Ordinary Options in a year is capped at one year's salary for the
option holder. If the profit exceeds this limit, the number of shares to be
issued will be reduced accordingly.

The following primary insiders in the Company have been allocated options
according to the above, please see attached allocation details. The primary
insiders have the following number of shares and options, adjusted for dividends
paid, in the Company.

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  Total number of Options granted Total options

Name shares owned in 2024 outstanding
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Ivan Vindheim
(CEO) 7,903 200,000 991,648

Kristian Ellingsen
(CFO) 1,243 100,000 484,634

Øyvind Oaland
(COO Farming Norway) 5,631 100,000 484,634

Ben Hadfield
(COO Farming Scotland, Ireland,
Faroes and Canada East) 8,113 100,000 484,634

Fernando Villarroel
(COO Farming Americas) 5,655 100,000 462,255

Ola Brattvoll
(COO Sales & Marketing) 10,474 100,000 484,634

Atle Kvist
(COO Feed) 786 100,000 484,634

Catarina Martins
(CTO & Chief Sustainability
Officer) 2,688 45,000 153,747

Kjersti Eikeseth
(Chief HR Officer) 120 25,000 25,000

Kim Galtung Døsvig
(Investor Relations & Head of
Treasury) 1,379 25,000 133,747

Lars Tore Andersen
(Group Accounting Director) 1,379 15,000 30,543
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This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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621959_2024 option allocation primary insiders.pdf