Norsk Hydro: Initiation of share buyback program

10 Sep 2024 19:00 CEST

The Board of Directors of Norsk Hydro ASA has resolved to initiate a share
buyback program to service its shareholders by way of reducing its share
capital. The share buyback program will be executed in accordance with the
authorization granted to the Board of Directors by the Annual General Meeting of
Norsk Hydro held on May 7, 2024.

The share buyback program covers purchase of up to 100,000,000 shares with a
maximum value of NOK 2,000 million, inclusive of the proportional redemption of
shares owned by the Norwegian State. NOK 2,000 million is equivalent to
approximately 1.8% of the market value of the share capital in Norsk Hydro at
the current share price level.

The buyback program will commence September 11, 2024 and is planned finalized
within February 28, 2025, with the authorization being valid until June
30, 2025. The shares repurchased under the buyback program will be redeemed
(cancelled) by way of a share capital decrease in Norsk Hydro, subject to
approval by Norsk Hydro's General Meeting.

The minimum and maximum amounts that can be paid per share shall be NOK 20 and
NOK 150, respectively.

Norsk Hydro has entered an agreement with the Norwegian State according to which
the Norwegian State's shares will be redeemed on a pro-rata basis to ensure that
the Norwegian State's ownership is unchanged when shares are cancelled.

Norsk Hydro has engaged Citigroup Global Markets Europe AG to manage and carry
out the share repurchases in the market. Citigroup Global Markets Europe AG will
make its trading decisions independently of, and uninfluenced by, Norsk Hydro.

The share buyback program is carried out in accordance with the Market Abuse
Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No
2016/1052 ("Safe Harbour Regulation").


Investor contact:
Martine Rambøl Hagen
Head of Investor Relations
+47 91708918
Martine.Rambol.Hagen@hydro.com


This information is made public by Norsk Hydro pursuant to the EU Market Abuse
Regulation and subject to the disclosure requirements pursuant to Section 5-12
of the Norwegian Securities Trading Act.

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