AKVA Group — Remuneration Information 2022

Aug 26, 2022

AKVA group ASA: Implementation of revised incentive plan, entry of option agreement and mandatory notification of trade

AKVA group ASA: Implementation of revised incentive plan, entry of option agreement and mandatory notification of trade

The board of directors (the "Board") of AKVA group ASA ("AKVA" or the "Company")

has resolved to implement a revised incentive plan (the "Incentive Plan") for

senior management of AKVA. The overall purpose of the revised 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 Incentive Plan

replaces the Company's existing share-based incentive plan for the period

2020-2026. The Incentive Plan participants have agreed that no payments or

allocations will be made under the previous incentive plan in exchange for their

participation in the revised Incentive Plan. Furthermore, the Board has resolved

to enter into a new option agreement with the Company's CEO Knut Nesse (the

"Option Agreement").

(i) The Incentive Plan:

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 for a period of between three and five

years after the Incentive Plan becomes effective. 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.

A total of 499,380 shares will be allocated under the 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 260 000 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 294 282 own shares.

(ii) The Option Agreement:

Pursuant to the Option Agreement, Knut Nesse is granted rights to subscribe, or

purchase from the Company, up to 80,000 shares in the Company at a subscription

price of NOK 70 per share. The options may be exercised within the period

starting on 1 April 2025 and ending on 31 August 2025. The Option Agreement

replaces an option agreement between the Company and Nesse dated 16 August

2019. See the enclosed form for further details.

The Incentive Plan and the Option Agreement 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 2023.

Dated: August 26, 2022

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse - Chief Executive Office

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

E-mail: knesse@akvagroup.com (mailto: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 (mailto:rmeinkohn@akvagroup.com)

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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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.