ABL Group — Remuneration Information 2024

Mar 8, 2024

ABL Group ASA: Introducing Long Term and Short Term employee incentive programmes

ABL Group ASA: Introducing Long Term and Short Term employee incentive programmes

OSLO, Norway (8 March 2024): In order to support ABL Group ASA’s (the Company’s) business strategy, long-term interests and financial sustainability, the Company is introducing Long Term and Short Term employee incentive programmes (LTIP and STIP) in line with the stated aims of the Remuneration Guidelines (approved at the 2023 AGM) and as further agreed by the Board of Directors.

As part of the LTIP, the Company has issued awards of Performance Share Units (PSUs) to 37 key employees of the Company. The PSUs are granted to members of the executive and senior leadership teams (each a PSU Holder) and gives the PSU Holder the right to receive shares in the Company depending on the achievement of certain performance criteria and subject to continued employment on the relevant settlement dates. The conversion of PSUs to shares is determined by performance against two target metrics: (i) group adjusted EBIT (ii) return on capital employed. Each of the performance metrics is measured for the period 1 January 2024 through 31 December 2024. The Company will notify each PSU Holder of the total achieved performance and the number of shares earned by the PSU Holder after announcement of the Q4 results for 2024. The shares will be delivered to the PSU Holder in 2026 (50%) and 2027 (50%), provided the PSU Holder remains employed with ABL Group through the settlement dates as well as no breach of employment conditions and/or ABL Group Code of Conduct. Settlement of PSUs will be done through use of treasury shares or by issuance of new shares, as decided by the Board of Directors.

A total of 1,100,00 shares are to be designated for settlement of the 2024 PSUs which takes into account the maximum achievement under the scheme. Any shares not utilised to settle the 2024 scheme will be used in subsequent years.

The Company will also replace the existing bonus scheme by introducing a short term incentive programme (STIP) for all employees in the group. All employees will be awarded a bonus opportunity subject to achievement of certain performance conditions. The performance under the STIP for the financial year 2024 will be considered by the Board after announcement of the Q4 results for 2024. Payments will be made in cash and/or shares as decided by the Board of Directors.

Awards under the LTIP and STIP are intended to be annual, subject to performance conditions and targets to be updated before each award.

Details of the primary insider's transactions pursuant to the Market Abuse Regulation article 19 are attached.

For further information, please contact:

Investors and financial media: Stuart Jackson, Chief Financial Officer, ABL Group ASA Email: stuart.jackson@abl-group.com

About ABL Group ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 41 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.