AKVA group ASA: Extension of incentive plan

06 Nov 2024 16:30 CET

The board of directors (the "Board") of AKVA group ASA ("AKVA" or the "Company")
has resolved to extend the incentive plan (the "Incentive Plan") for senior
management of AKVA.

The overall purpose of the Incentive Plan is to ensure aligned interest between
senior management employees and shareholders in the current business
environment, and to reward long-term and dedicated work, which is deemed to be
of value to AKVA and its shareholders.

The extended Incentive Plan will be on the same terms as the current plan, as
approved by the Company's annual general meeting in 2023. The Incentive Plan
provides for an annual grant of shares to the Company's senior management
employees. The share grants will vest and shares will be transferred to
participants annually up to and including 2027. The CEO option agreement
approved in 2023 is not proposed to be changed, cf. the Company's stock exchange
notice of 26 August 2022.

The annual share grants are subject to certain conditions being fulfilled,
including that the employee remains employed by the Company, that the Company
shows a positive EBIT for the relevant year, and that no breach of covenants has
occurred and is existing under the Company's external loans or debt facilities
for the relevant year and at the time the grant is vesting. The shares granted
under the Incentive Plan will be subject to lock-up arrangements, customary
leaver conditions, a change of control trigger clause and other terms set out in
the Incentive Plan.

An additional 291,300 shares will be allocated due to the extension of the
Incentive Plan, giving a total of 507,120 shares that will be allocated under
the current and extended Incentive Plan, gross before deductions to cover
participant income taxes on vested shares. The total net number of shares that
may be transferred to participants on an after tax basis is approximately
266,000 shares based on current tax rates etc., and is expected to be covered by
the Company's holding of own shares. The Company currently holds 358,716 own
shares.

The extension of the Incentive Plan will only become effective upon approval of
revised guidelines regarding determination of salaries and other remuneration to
senior personnel of the Company by the general meeting of the Company. The Board
will propose the necessary changes to the guidelines for approval at the annual
general meeting of the Company in 2025.

Dated: 6 November 2024
AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

E-mail: knesse@akvagroup.com


Ronny Meinkøhn Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 98 20 67 76

E-mail: rmeinkohn@akvagroup.com

***

This information is subject to the disclosure requirements according to section
5-12 of the Norwegian Securities Trading Act and Euronext Oslo Rule Book II -
Issuer Rules.

About AKVA group ASA

AKVA group ASA is a global technology and  service partner that deliver
technology and services  that  helps  solve  biological  challenges within the
aquaculture industry.  Good operational performance and fish welfare ensures
sustainability and  profitability  for  the  customer.  This is  the premise for
everything we deliver, from single components to services and complete
installations. In-depth aquaculture knowledge, extensive experience and  a high
capacity for innovation characterizes  and enables us to deliver the  best
solutions for both land based and sea based fish farming.

More information:
Access the news on Oslo Bors NewsWeb site