SalMar - 2023 share-based incentive scheme for senior executives and key personnel

In accordance with the authorization granted by the AGM on 8 June 2023, the board of directors of SalMar ASA has decided to establish a share-based incentive scheme (Restricted Share Unit Plan) for senior executives and key personnel employed by the company and its subsidiaries. The scheme encompasses up to 250 000 shares and has a duration of three years. The company's liability with respect to the scheme will be met through existing holdings of treasury shares. As of 19 December 2023, SalMar ASA holds 488 256 treasury shares.

The purpose of the share-based incentive scheme (RSUP) is to encourage employees to maintain a deep, long-term engagement in the company, through a further alignment of the employees' interests with those of other shareholders. Under the RSUP, participating individuals will be awarded shares to motivate them to contribute to the continued success and profitability of the company, as well as deliver outstanding results. The RSUP will also enhance SalMar's ability to attract and retain staff.

Under the RSUP, participants will receive, free of charge, Restricted Share Units (RSUs), which, if certain predefined performance criteria are met within an accrual period, will be released and transferred to them as shares. The RSUP comprises three accrual periods of one, two and three calendar years respectively, with 2023 being the first year. Each accrual period encompasses 1/3 of the total number of RSUs included in the scheme. One RSU gives a contingent entitlement to one share.

The following criteria determine the award of RSUs during each of the three accrual periods:

- Award of 1/3 of the RSUs is independent of any performance criteria

- Award of 1/3 of the RSUs depends on SalMar achieving a certain EBIT/kg more than other aquaculture companies listed on the Oslo Stock Exchange during the accrual period

- Award of 1/3 of the RSUs depends on SalMar's shares achieving a higher total shareholder return (TSR) than a defined group of comparable companies during the accrual period.

Accrual of RSUs under the scheme presumes that the individual is an employee of SalMar or a participating subsidiary. The total gain from released RSUs during one calendar year shall not exceed 100 per cent of the participant's basic salary. Under the scheme's rules, the number of RSUs will be adjusted in the event of a dividend payout in order to preserve, but not increase, the value of the RSU allocation.

The RSUP goes into effect on 19 December 2023 and encompasses senior executives and key personnel at SalMar and its subsidiaries.

Restricted share units granted primary insiders 19 December 2023:

Frode Arntsen has received 4 024 RSUs in the Company

Roger Bekken has received 2 865 RSUs in the Company

Eva Haugen has received 1 386 RSUs in the Company

Håkon Husby has received 1 039 RSUs in the Company

Ingvild Kindlihagen has received 478 RSUs in the Company

Runar Sivertsen has received 1 664 RSUs in the Company

Ulrik Steinvik has received 2 311 RSUs in the Company

Arthur Wisniewski has received 1 664 RSUs in the Company

Simon Søbstad has received 1 941 RSUs in the Company

Gunn Marit Sivertsen (related party of primary insider) has received 733 RSUs in the Company

New holdings:

After completion of the abovementioned grant Frode Arntsen holds 9 131 RSUs in the Company. As of today the primary insider holds 6 962 shares in the Company.

After completion of the abovementioned grant Roger Bekken* holds 6 541 RSUs in the Company. As of today the primary insider holds 14 509 shares in the Company.

After completion of the abovementioned grant Eva Haugen holds 3 233 RSUs in the Company. As of today the primary insider holds 7 900 shares in the Company.

After completion of the abovementioned grant Håkon Husby holds 2 447 RSUs in the Company. As of today the primary insider holds 1 438 shares in the Company.

After completion of the abovementioned grant Ingvild Kindlihagen holds 974 RSUs in the Company. As of today the primary insider holds 46 shares in the Company.

After completion of the abovementioned grant Runar Sivertsen holds 3 806 RSUs in the Company. As of today the primary insider holds 4 314 shares in the Company.

After completion of the abovementioned grant Ulrik Steinvik** holds 5 312 RSUs in the Company. As of today the primary insider holds 120 478 shares in the Company.

After completion of the abovementioned grant Arthur Wisniewski holds 3 888 RSUs in the Company. As of today the primary insider holds 2 772 shares in the Company.

After completion of the abovementioned grant Simon Søbstad holds 4 338 RSUs in the Company. As of today the primary insider holds 604 shares in the Company.

After completion of the abovementioned grant Gunn Marit Sivertsen (related party of primary insider) holds 1 469 RSUs in the Company. As of today the primary insider holds 195 shares in the Company.

* Owns 14 509 shares directly and indirectly through personal relative.

** Owns 120 478 shares directly and indirectly through personal related parties. Also owns 100 per cent of the shares in Nordpilan AS. Nordpilan AS owns 0.2 per cent of the shares in Kverva AS, which in turn through Kverva Industrier AS owns 45,4 per cent of the shares in SalMar ASA.

For further information, please contact:

Håkon Husby, Head of Investor Relations

Phone: + 47 936 30 449

E-mail:

This information is subject to the disclosure requirements pursuant to Article 19 of the EU Market  Abuse  Regulation  and  section  5-12 of  the  Norwegian Securities Trading Act.

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