Norsk Hydro ASA

Major Shareholding Notification • Nov 25, 2025

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the NOR-FSA)

1. Identity of the issuer:
NORSK HYDRO ASA
Drammensveien 264
Oslo NO-03
Norway
LEI: 549300N1SDN71ZZ8BO45
		2. Reason for the notification (please tick the appropriate box or boxes):
☒	An acquisition or disposal of shares or voting rights
☐	An acquisition or disposal of financial instruments
☐	An event changing the breakdown of shares or voting rights
☐ Other (please specify):
	3. Details of person subject to the notification obligation:
Name:		City and country of residence:
BlackRock, Inc.		Wilmington, DE U.S.A
4. Full name of shareholder(s)		(if different from 3.):
	5. Date on which the threshold was crossed or reached:
24.11.2025
		6. Total positions of person(s) subject to the notification obligation:
	% of shares and	% of shares and voting rights through financial	Total of both in %	Total number of
	voting rights	instruments	(7.A + 7.B)	shares and voting
	(total of 7.A)	(total of 7.B)		rights of issuer
Resulting situation				1,978,489,136
on the date on which	5.07% shares	0.24% shares	5.31% shares	shares
threshold was	5.07% voting rights	0.24% voting rights	5.31% voting rights	1,978,489,136
crossed or reached				voting rights
Position of previous	4.99% shares	0.35% shares	5.34% shares
notification (if applicable)	4.99% voting rights	0.35% voting rights	5.34% voting rights

7. Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Class/type of shares		Number of shares and voting rights		% of shares and voting rights
ISIN code (if possible)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
NO0005052605		100,318,308 shares		5.07% shares
		100,318,308 voting rights		5.07% voting rights
		100,318,308 shares	5.07% shares
SUBTOTAL A		100,318,308 voting rights	5.07% voting rights

Type of financial instrument	Expiration date	Exercise/ Conversion Period	Physical or cash settlement	Number of shares and voting rights	% of shares and voting rights
American Depositary				4,582,993 shares	0.23% shares
Receipt (US6565316055)	N/A	N/A	Physical	4,582,993 voting rights	0.23% voting rights
CFD	N/A	N/A	Cash	337,800 shares	0.01% shares
				337,800 voting rights	0.01% voting rights
			SUBTOTAL B	4,920,793 shares	0.24% shares
				4,920,793 voting rights	0.24% voting rights

8. Information in relation to the person subject to the notification obligation (please tick the applicable box):
☐ Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
☒ Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity:
Name	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both
See Annex

9. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of

10. Additional information:

The disclosure obligation arose due to voting rights attached to shares and votes for BlackRock, Inc. going above 5%.

Done at 12 Throgmorton Avenue, London, EC2N 2DL, U.K. on 25 November 2025

Annex

Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity;

Name	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.
BlackRock HK Holdco Limited
BlackRock Lux Finco S.a.r.l.
BlackRock Japan Holdings GK BlackRock Japan Co., Ltd.			Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
Trident Merger, LLC			Below 5%
BlackRock Investment Management, LLC
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Finance Europe Limited
BlackRock Investment Management (UK) Limited			Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Australia Holdco Pty. Ltd.
BlackRock Investment Management (Australia) Limited			Below 5%
BlackRock, Inc.

BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock International Limited	Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
	Below 5%
BlackRock Institutional Trust Company, National Association
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Fund Advisors	Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.	Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.
BlackRock HK Holdco Limited
BlackRock Asset Management North Asia Limited	Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.

BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Finance Europe Limited
BlackRock (Netherlands) B.V.
BlackRock Asset Management Deutschland AG		Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BlackRock Canada Holdings ULC
BlackRock Asset Management Canada Limited		Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Capital Holdings, Inc.
BlackRock Advisors, LLC		Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Finance Europe Limited
BlackRock Advisors (UK) Limited		Below 5%
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.

Below 5%
Below 5%
Below 5%

Annex: Notification of major holdings (only to be filed with the NOR-FSA)

A: Identity of the person subject to the notification obligation
Full name (including legal form for legal entities) BlackRock, Inc.
Contact address (registered office for legal entities) c/o 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
E-Mail emeadisclosures@blackrock.com
Phone number / Fax number +44 (0) 20 7743 3650 / +44 (0) 20 7668 4045
Other useful information (at least a contact person for legal persons) Jana Blumenstein
B: Identity of the notifier, if applicable
Full name Jana Blumenstein
Contact address 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
E-Mail emeadisclosures@blackrock.com
Phone number / Fax number +44 (0) 20 7743 3650 / +44 (0) 20 7668 4045
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)
C: Additional information: