Komplett ASA

Remuneration Information • Apr 16, 2025

REMUNERATION REPORT 2024

REMUNERATION REPORT 2024

The executive remuneration report for Komplett Group for 2024 is prepared in accordance with section 6-16 b of the Norwegian Public Limited Liability Companies Act. The purpose of this report is to provide an overview of earned and paid remuneration to the board of directors and the executive management team in Komplett Group. It follows from the report that the remuneration in 2024 has been paid out and earned in accordance with the guidelines approved by the annual general meeting in 2024.

Remuneration to senior executives is paid or accrued in the currency of the respective subsidiary that owns the employment relationship. In this report, amounts are presented in Norwegian kroner (NOK), which is both the functional and presentation currency of the parent company. Remuneration in other currencies received during the financial year has been converted into NOK using the average exchange rate for the year. Accrued remuneration at the end of the reporting period has been converted using the exchange rate in effect on the balance sheet date. Directors of the board receive their fees from the parent company Komplett ASA in NOK.

INTRODUCTION

Despite a demanding year with challenging market conditions Komplett Group continued to see positive effects from its strategic initiatives. Gross margins remained stable, supported by favourable mix effects.

The impact from new cost-saving measures is expected to amplify gradually into 2025. Looking ahead, the economic outlook in Norway and Sweden is positive, with an attractive pipeline of new products expected to drive demand, particularly in gaming and computing. However, market conditions and consumer behavior remain unpredictable, and competition in these segments remain intense. Despite these challenges, the group is confident in its long-term potential, driven by its strategic initiatives and cost-saving measures, and supported by growth in the consumer electronics market.

KEY FINANCIALS FOR 2024

In 2024, the total operating revenues decreased to NOK 15 301 million, corresponding to a 3.5 per cent reduction compared to NOK 15 861 million in 2023.

The company's gross margin in 2024 remained stable at 13.7 per cent, compared to 13.9 per cent in 2023, despite intense competition reflecting improved payment terms and inventory management.

Adjusted EBIT amounted to negative NOK 47 million, compared with NOK 139 million in 2023. The reduction was driven by a modest reduction in the gross margin (negative 0.2 percentage points) coupled by cost increases and depreciations. The operating result (EBIT) amounted to negative NOK 67 million, compared with negative NOK 885 million in 2023. Adjusted for noncash impairment charges of NOK 983 million, the EBIT result in 2023 would have been NOK 98 million. Loss for the year 2024 was negative NOK 192 million, compared with a loss of NOK 1 038 million in 2023.

For further information, reference is made to the annual report for 2024.

COMPANY RESULTS AND REMUNERATION IN 2024

In 2024, the base salaries for the group CEO and the members of the executive management team amounted to NOK 27.3 million, a reduction of NOK 2.3 million compared to NOK 29.6 million in 2023 due to extraordinary cost in 2023. Total salary cost was stable from NOK 1 014 million in 2023 to NOK 1 013 million in 2024.

Komplett Group's short-term incentive plan (STI) is designed to align the incentive structure with the company's short term strategic goals. The earnings criteria for the STI for the executive management team were partially met in 2024. The long-term incentive plan (LTI) is a stock option plan that has a three-year vesting period. A total of 3 991 050 share options were granted to the executive management team in 2024.

CHANGES IN THE EXECUTIVE MANAGEMENT TEAM IN 2024 AND 2025

Trygve Hillesland is the managing director Webhallen effective from January 2024, succeeding Anders Torell.

As communicated in January 2025 Jaan Ivar Semlitsch will transition from the role as CEO of Komplett Group in August this year. The board has initiated a process to find his successor. To ensure continuity, the group's main shareholders have signalled that they will recommend to the annual general meeting to elect Semlitsch as the new chair of the board.

Morten Johnsen took over as CEO of Komplett Services in Sandefjord effective from 15 January 2025, succeeding Erlend Stefansson.

CHANGES IN THE BOARD OF DIRECTORS

At the general meeting 9 May 2024, Emelie Victorin (employee representative) was elected as new director.

Information about the group's board of directors and management is available on the company's website https://www.komplettgroup.com/about/boardand-management/.

Jo Olav Lunder Chair

GOVERNANCE

The work of the remuneration committee in 2024

The remuneration committee is chaired by Fabian Bengtsson. The committee members are Jan Ole Stangeland and Susanne Ehnbåge. The remuneration committee functions as a preparatory and advisory sub-committee of the board of directors on questions relating to the company's strategy with respect to compensation of its executive management. The mandate of the committee is set out in the instructions for the remuneration committee and can be summarised as follows: The committee reviews the performance of the chief executive officer (CEO) versus the adopted objectives and recruitment policies and career planning and management development plans, prepares matters relating to other material employment issues among the executive

management, and reviews the remuneration and benefits strategy for the members of the executive management.

The remuneration committee had a total of three meetings in 2024. The mandate of the remuneration committee is available on https://www. komplettgroup.com/investor-relations/governance/.

Remuneration to the board of directors

Each director of the board receives a fixed fee determined by the general meeting on an annual basis. Total remuneration to the board of directors in 2024 was NOK 3.23 million.

The members of the board's two committees, the audit committee and the remuneration committee receive an additional fee in addition to the ordinary board fee. The annual fees are based on a recommendation from the company's nomination committee.

For 2024, the additional remuneration to the members of the remuneration committee and audit committee was NOK 0.97 million. The board directors do not receive variable remuneration from the company. The remuneration to board directors does not generate pension contributions or vacation pay.

Amounts in NOK thousand			Remuneration	Audit	Nomination	Total	Number of shares 31
	Year	Board fees	committee fees	committee fees	committee fees	remuneration	December
Name of director, position
Jo Lunder (2022-2026) Chair of the board	2024	0.63	-	-	-	0.63	391 777
	2023	0.63	-	-	-	0.63	391 777
Jan Ole Stangeland (2023-2025) Director, audit commitee member and remuneration commitee member	2024	0.36	0.06	0.15	-	0.57	76 296
	2023	0.20	0.04	0.09	-	0.33	76 296
Ingvild Næss (2023-2025) Director and member of audit committee	2024	0.36	-	0.09	-	0.45	-
	2023	0.20	-	0.05	-	0.26	-
Fabian Bengtsson (2022-2026) Director, member of audit committee and chair of remuneration commitee	2024	0.42	0.12	0.09	-	0.63	55 581 404
	2023	0.54	0.13	0.05	-	0.72	55 581 404
Susanne Ehnbåge (2023-2025) Director and member of remuneration commitee	2024	0.42	0.06	-	-	0.48	-
	2023	0.21	0.04	-	-	0.24	-
Anders Odden (2019-2025) Employee representative	2024	0.16	-	-	-	0.16	-
	2023	0.14	-	-	-	0.14	8 333
Emelie Victorin (2024-2025) Employee representative	2024	0.10	-	-	-	0.10	-
Anna Fernmo (2023-2024) Employee representative	2024	0.07	-	-	-	0.07	-
	2023	0.10	-	-	-	0.10	-
Sverre R. Kjær (2021-2026) Chair of nomination committee	2024	-	-	-	0.08	0.08	-
	2023	-	-	-	0.08	0.08	-
Nina C. Hagen (2021-2026) Nomination committee	2024	-	-	-	0.04	0.04	-
	2023	-	-	-	0.04	0.04	-
Martin Bengtsson (2023-2026) Nomination committee	2024	-	-	-	0.04	0.04	-
	2023	-	-	-	0.04	0.04	-

Remuneration to executive management team

The group shall seek to offer a remuneration level that is competitive and on market terms, compared to the level offered by its peers, and which supports the group's need to recruit and retain highly qualified executive talent. The compensation package consists of basic salary, benefits in-kind, as well as short-term and long-term incentives and pension.

Other benefits include a minor proportion of fixed benefits for all of the members in key management, such as insurance and electric communication. Other benefit also include benefits in-kind, such as car allowance. Furthermore other benefits include travel and housing for Thomas William Scobie Røkke and Erlend Stefansson. Extraordinary items include severance payments and stay-on payments.

Several of the executive management started their roles in 2023 and thus no year over year comparison is available for these directors.

Key management compensation 2023-2024:

			2023
	Period	Salary	Bonuses	Ext.ord.	Pension	Benefits	Options	Total	Salary	Bonuses	Extr.ord.	Pension	Benefits	Options	Total
Jaan Ivar Semlitsch, group CEO	Feb 23 - Dec 24	6.76	-	-	1.34	0.19	4.13	12.41	5.78	2.00	-	1.10	0.18	2.52	11.59
Lars Olav Olaussen, group CEO	Sep 18 - Feb 23	-	-	-	-	-	-	-	3.00	-	2.40	0.53	0.19	-	5.75
Group management (ex CEO)		20.58	3.04	-	3.54	1.48	9.92	38.56	20.82	4.96	6.61	3.63	1.24	14.36	51.62
Thomas William Scobie Røkke, group CFO	Mar 23 -Dec 24	3.87	0.58	-	0.65	0.47	2.36	7.93	3.04	0.97	-	0.50	0.4	1.64	6.56
Andreas Westgaard, group CCO	Aug 23 - Dec 24	3.95	0.59	-	0.66	0.19	2.41	7.81	1.90	0.61	-	0.26	0.09	1.52	4.39
Markus Solvik, group CSO	Apr 23 - Dec 24	2.43	0.36	-	0.31	0.19	1.00	4.29	1.71	0.86	-	0.19	-	0.88	3.64
Kristin H Torgersen, group CHRO	May 21 - Dec 24	2.33	0.35	-	0.29	0.16	0.96	4.08	2.24	0.85	-	0.27	0.16	2.74*	6.26
Erlend Stefansson, managing director Komplett Services	Jan 23 - Dec 24	3.12	0.46	-	0.47	0.19	1.29	5.53	2.73	1.01	-	0.39	0.23	1.16	5.52
Josefin Dalum, managing director NetOnNet	Dec 23 - Dec 24	2.52	0.37	-	0.88	0.08	0.99	4.83	0.20	-	-	0.13	0.01	-	0.33
Trygve Hillesland, MD Webhallen	Jan 24 - Dec 24	2.12	0.33		0.24	0.20	0.91	3.80	-	-	-	-	-	-	-
Anders Torell, managing director Webhallen	Apr 22 - Jan 24	0.25	-	-	0.05	0.01	0.00	0.30	3.04	0.66	-	0.53	0.08	1.88	6.20
Roger Sandberg, group procurement officer	Apr 22 - Aug 23	-	-	-	-	-	-	-	1.17	-	2.07	0.37	0.07	2.661)	6.34
Susanne Holmstrøm, managing director NetOnNet	Apr 22 - Oct 23	-	-	-	-	-	-	-	3.49	-	3.34	0.96	0.11	-	7.90
Martin Klafstad, managing director Komplett Services	Apr 22 - Mar 23	-	-	-	-	-	-	-	0.33	-	-	-	-	-	0.33
Trine L Jensen, COO/CIO	Oct 19 -Mar 23	-	-	-	-	-	-	-	0.58	-	-	0.02	0.06	1.88	2.53
Krister Pedersen, group CFO	Dec 20 - Feb 23	-	-	-	-	-	-	-	0.40	-	1.20	0.01	0.01	-	1.62
Total		27.34	3.04	-	4.88	1.67	14.05	50.97	29.60	6.96	9.01	5.26	1.61	16.89	68.96

1) Value of share options granted from the 2022- and 2023 - share option programme.

Individual terms

The executive management team participates in two variable pay programmes: an annual performance bonus programme (STI) and a sharebased remuneration (LTI).

Short-term incentive

Senior executives may be offered a performance-based bonus in addition to fixed remuneration. Performance-based bonus shall be agreed upon on an individual basis, if applicable. For senior executives entitled to receiving bonus, bonus is according to guidelines based on the following predetermined performance measures:

X Budgeted EBIT and

X Budgeted net revenue

In addition to the above, financial qualitative measures, based on a discretionary evaluation of each executive's individual performance will form the basis for the annual performance bonus. Targets for each executive's business area, as well as the executive's own professional development, will be considered.

For 2024, the following weighting have been used:

KPI	Group CEO & group CFO	Directors with P&L responsibility	Administration
Group level:
Budgeted EBIT	50%	25%	50%
Budgeted net revenue	30%	15%	30%
Entity Level:
Budget EBIT	-	25%	-
Budget net revenue	-	15%	-
Discretion	20%	20%	20%

The financial targets on revenues were met on a low level on both the group and Webhallen. In addition, the executives have met some of their individual KPI's leading to an annual performance bonus.

Name of manager, position	Year	KPI	Weight	Achievement	Total achievement	Bonus earned, paid out following year	Salary
	2024	Budgeted EBIT	50%	-
Jaan Ivar Semlitsch		Budgeted net revenue	30%	-		-	6.76
Group CEO		Budgeted EBIT	50%	0%
	2023	Budgeted net revenue	30%	12%	32%	2.00	5.78
		Budgeted EBIT	50%	0%
Thomas William Scobie Røkke	2024	Budgeted net revenue	30%	6%	15%	0.58	3.87
Group CFO		Budgeted EBIT	50%	0%
	2023	Budgeted net revenue	30%	12%	32%	0.97	3.04
		Budgeted EBIT	50%	0%
Andreas Westgaard	2024	Budgeted net revenue	30%	6%	15%	0.59	3.95
Group CCO		Budgeted EBIT	50%	0%
	2023	Budgeted net revenue	30%	12%	32%	0.61	1.90
Markus Solvik Group CSO		Budgeted EBIT	50%	0%
	2024	Budgeted net revenue	30%	6%	15%	0.36	2.43
		Budgeted EBIT	30%	0%
	2023	Budgeted net revenue	20%	8%	38%	0.86	1.71
		Budgeted EBIT	50%	0%
Kristin H Torgersen	2024	Budgeted net revenue	30%	6%	15%	0.35	2.33
Group CHRO		Budgeted EBIT	30%	0%
	2023	Budgeted net revenue	20%	8%	38%	0.85	2.24
		Budgeted EBIT	25%/25%	0%/0%
Erlend Stefansson	2024	Budgeted net revenue	15%/15%	2%/0%	15%	0.46	3.12
Managing director Komplett Services AS		Budgeted EBIT	25%/25%	0%/10%
	2023	Budgeted net revenue	15%/15%	6%/6%	37%	1.01	2.73
		Budgeted EBIT	25%/25%	0%/0%
Josefin Dalum	2024	Budgeted net revenue	15%/15%	2%/0%	15%	0.37	2.52
Managing director NetOnNet		Budgeted EBIT	25%/25%	0%/0%
	2023	Budgeted net revenue	15%/15%	0%/0%	0%	0.00	0.20
Trygve Hillesland		Budgeted EBIT	25%/25%	0%/0%
Managing director Webhallen	2024	Budgeted net revenue	15%/15%	2%/1%	15%	0.33	2.12

Long-term incentive plan

Share-based remuneration

A long-term incentive programme has been established for the executive management team.

Under the programme, share options are generally granted annually at the discretion of the board. The Black-Scholes model is used to calculate the value of granted share options. The options will vest gradually over three years after grant date, of which 20 per cent of the options will vest after one year, 20 per cent will vest after two years, and the remaining 60 per cent will vest after three years. Options will expire five years after the date of grant. The maximum benefit from the 2024-option programme is four times the base salary in the year of grant.

None of the executives have exercised any stock options in 2024.

Share options awarded or due to senior executives in 2024:

			Opening balance		During the year		Closing balance
Name of manager, position	Programme	Grant date	Number of options 1 January	Share options awarded	Share options term.	Share options vested	Number of options 31 December	Unvested share options	End of holding period	Average strike price	Number of shares 31 December
Jaan Ivar Semlitsch	2024	10.05.2024	-	1 172 279	-	-	1 172 279	1 172 279	10.05.2029	9.59	180 000
Group CEO	2023	10.02.2023	500 000	-	-	100 000	500 000	400 000	10.02.2028	16.75	-
Thomas William Scobie Røkke	2024	10.05.2024	-	670 939	-	-	670 939	670 939	10.05.2029	9.59	-
Group CFO	2023	02.06.2023	361 049	-	-	72 209	361 049	288 840	02.06.2028	15.01	-
Andreas Westgaard	2024	10.05.2024	-	685 332	-	-	685 332	685 332	10.05.2029	9.59	158 147
Group CCO	2023	01.08.2023	415 781	-	-	83 156	415 781	332 625	01.08.2028	13.27	-
Markus Solvik	2024	10.05.2024	-	284 484	-	-	284 484	284 484	10.05.2029	9.59	-
Group CSO	2023	02.06.2023	193 864		-	38 772	193 864	155 092	02.06.2028	15.01	-
	2024	10.05.2024	-	272 773	-	-	272 773	272 773	10.05.2029	9.59	11 835
Kristin H Torgersen Group CHRO	2023	02.06.2023	189 458	-	-	37 891	189 458	151 567	02.06.2028	15.01	-
	2022	17.04.2023	313 352	-	-	62 670	313 352	250 682	17.04.2028	18.62	-
Erlend Stefansson	2024	10.05.2024	-	365 975	-	-	365 975	365 975	10.05.2029	9.59	50 847
Managing director Komplett Services AS	2023	02.06.2023	254 192	-	-	50 838	254 192	203 354	02.06.2028	15.01	-
Josefin Dalum Managing director NetOnNet	2024	10.05.2024	-	281 209	-	-	281 209	281 209	10.05.2029	9.59	-
Trygve Hillesland Managing director Webhallen	2024	10.05.2024	-	258 059	-	-	258 059	258 059	10.05.2029	9.59	45 000
Anders Torell Managing director Webhallen	2022	17.04.2023	313 352	-	(313 352)	-	-	-	-	-	-

The right to reclaim

No variable remuneration was reclaimed during 2024.

Deviations from the guidelines

For 2024, there were no deviations from the guidelines adopted by the annual general meeting in 2024.

Development of remuneration and company performance

The growth in total remuneration for each executive during the last five years is stated below.

The CEO, Jaan Ivar Semlitsch, started in the position during 2023. Other executive management also started their roles in 2023 and thus no year over year comparison is available for these directors. The growth in total remuneration for each executive during the last five years is stated below.

Comparative table over the remuneration and company performance over the last five reported financial years

			2024			2023			2022			2021			2020
	Period	Total remu neration	Annual change%	Variable portion%	Total remu neration	Annual change%	Variable portion%	Total remu neration	Annual change%	Variable portion%	Total remu neration	Annual change%	Variable portion%	Total remu neration	Annual change%	Variable portion%
Management's remuneration
Jaan Ivar Semlitsch, group CEO	02.2023-12.2024	12.41	7.12%	33.24%	11.59	N/A	39.05%	-	-	-	-	-	-	-	-	-
Thomas William Scobie Røkke, group CFO	03.2023-12.2024	7.93	20.81%	37.11%	6.56	N/A	39.87%	-	-	-	-	-	-	-	-	-
Andreas Westgaard, group CCO	08.2023-12.2024	7.81	77.99%	38.48%	4.39	N/A	48.51%	-	-	-	-	-	-	-	-	-
Markus Solvik, group CSO	04.2023-12.2024	4.29	17.66%	31.84%	3.64	N/A	47.76%	-	-	-	-	-	-	-	-	-
Kristin H Torgersen, group CHRO	05.2021-12.2024	4.08	(34.86%)	32.08%	6.26	158.04%	57.34%	2.43	6.25%	0.00%	2.29	N/A	43.18%	-	-	-
Erlend Stefansson, managing director Komplett Services	01.2023-12.2024	5.53	0.13%	31.61%	5.52	N/A	39.29%	-	-	-	-	-	-	-	-	-
Josefin Dalum, managing director NetOnNet	12.2023-12.2024	4.83	1 345.43%	28.11%	0.33	N/A	0.00%	-	-	-	-	-	-	-	-	-
Trygve Hillesland, managing director Webhallen	01.2024-12.2024	3.80	N/A	32.61%	N/A	-	-	-	-	-	-	-	-	-	-	-
Anders Torell, managing director Webhallen	04.2022-01.2024	0.30	(95.16%)	0.00%	6.20	124.91%	41.00%	2.75	-	0.00%	-	-	-	-	-	-
Roger Sandberg, group procurement officer	04.2022-07.2023	-	-	-	6.34	57.48%	74.54%	4.03	-	24.80%	-	-	-	-	-	-
Susanne Holmstrøm, managing director NetOnNet	04.2022-10.2023	-	-	-	7.90	18.49%	42.31%	6.67	-	24.77%	-	-	-	-	-	-
Martin Klafstad, managing director Komplett Services, interim consultant 02.2022-02.2023		-	-	-	0.33	(91.67%)	0.00%	3.90	-	-	-	-	-	-	-	-
Trine L Jensen, COO/CIO	10.2019 -03.2023	-	-	-	2.53	(0.38%)	74.28%	2.54	(43.61%)	0.00%	4.51	4.03%	46.56%	4.33	213.96%	46.16%
Lars Olav Olaussen, group CEO	09.2018- 02.2023	-	-	-	6.12	28.54%	39.20%	4.76	(39.45%)	0.00%	7.87	1.38%	47.47%	7.76	70.80%	46.52%
Krister Pedersen, group CFO	12.2020-02.2023	-	-	-	1.62	(35.97%)	74.01%	2.53	(45.33%)	0.00%	4.63	N/A	50.92%	0.21	N/A	-
Kjetil Wisløff, category and procurement director	03.2021-03.2022	-	-	-	-	-	-	1.24	(71.39%)	0.00%	4.34	N/A	52.05%	-	-	-
Henri Blomqvist, managing director Webhallen	10.2020 -04.2022	-	-	-	-	-	-	2.77	(57.59%)	0.00%	6.54	N/A	45.60%	0.73	N/A	15.01%
Per Skøien, head of category and procurement	09.2019 -03.2022	-	-	-	-	-	-	1.93	(37.94%)	0.00%	3.11	15.83%	43.59%	2.68	N/A	39.15%
Jan Erik Svendsen, head of B2B & Itegra	09.2021-03.2022	-	-	-	-	-	-	1.55	53.44%	0.00%	1.01	N/A	60.51%	-	-
Company performance
Operating revenue		15 301			15 861			14 618			11 043			9 866
Growth (%)		(3.53%)			8.50%			32.40%			11.90%			30.80%
EBIT (adj.)		(47)			139			87			388			276
EBIT margin (adj.) (%)		(0.31%)			0.87%			0.60%			3.50%			2.80%
Average remuneration on a full-time equivalent basis of employees
Average full-time employee during financial year		1 157			1 203			1 222			565			550
Average personnel cost		0.88			0.78			0.67			0.90			0.84
Annual change in average remuneration		12.38%			16.01%			(25.45%)			6.98%			6.33%

Information on shareholder vote

The board of directors approved, on 20 March 2025 the remuneration report 2024 which will be presented to the shareholders at the 2025 annual general meeting 7 May 2025 for an advisory vote, pursuant to the Norwegian Public Limited Liability Act, section 6-16 and supplementing regulations.

In addition the board of directors approved, on 20 March 2025 updated guidelines for remuneration of Komplett Group's executive management team, to be approved by the 2025 annual general meeting 7 May 2025, pursuant to the Norwegian Public Limited Liability Companies Act, section 6-16 and supplementing regulations. The proposed guidelines will replace the guidelines approved by the general meeting in May 2025.

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To the General Meeting of Komplett ASA

INDEPENDENT AUDITOR'S ASSURANCE REPORT ON REPORT ON SALARY AND OTHER REMUNERATION TO DIRECTORS

Ernst & Young AS Stortorvet 7, 0155 Oslo Postboks 1156 Sentrum, 0107 Oslo

Opinion

We have performed an assurance engagement to obtain reasonable assurance that 's report on salary and other remuneration to directors (the remuneration report) for the financial year ended 31. December 2024 has been prepared in accordance with section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation.

In our opinion, the remuneration report has been prepared, in all material respects, in accordance with section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation.

Board of directors' responsibilities

The board of directors is responsible for the preparation of the remuneration report and that it contains the information required in section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation and for such internal control as the board of directors determines is necessary for the preparation of a remuneration report that is free from material misstatements, whether due to fraud or error.

Our independence and quality control

We are independent of the company as required by laws and regulations and the International Ethics Standards Board for Accountants' Code of International Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance with these requirements. The firm applies International Standard on Quality Management, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Auditor's responsibilities

Our responsibility is to express an opinion on whether the remuneration report contains the information required in section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation and that the information in the remuneration report is free from material misstatements. We conducted our work in accordance with the International Standard for Assurance Engagements (ISAE) 3000 – "Assurance engagements other than audits or reviews of historical financial information".

We obtained an understanding of the remuneration policy approved by the general meeting. Our procedures included obtaining an understanding of the internal control relevant to the preparation of the remuneration report in order to design procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. Further we performed procedures to ensure completeness and accuracy of the information provided in the remuneration report, including whether it contains the information required by the law and accompanying regulation. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

A member firm of Ernst & Young Global Limited

EY
Shape the future with confidence

Oslo, 9 April 2025 ERNST & YOUNG AS

The auditor's report is signed electronically Petter Frode Larsen State Authorised Public Accountant (Norway) 2

Independent auditor's assurance report on report on salary and other remuneration to directors - Komplett ASA 2024

A member firm of Ernst & Young Global Limited

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Komplett ASA

Visitor address: Østre Kullerød 4 NO-3241 Sandefjord Norway

Postal address: Postboks 2094 NO-3202 Sandefjord Norway

T: +47 33 00 50 00 E: ir@komplett.com

www.komplettgroup.com