AKVA Group — Remuneration Information 2024

Nov 6, 2024

AKVA group ASA: Extension of incentive plan

AKVA group ASA: Extension of incentive plan

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

has resolved to extend the incentive plan (the "Incentive Plan") for senior

management of AKVA.

The overall purpose of the 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 extended Incentive Plan will be on the same terms as the current plan, as

approved by the Company's annual general meeting in 2023. 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 up to and including 2027. The CEO option agreement

approved in 2023 is not proposed to be changed, cf. the Company's stock exchange

notice of 26 August 2022.

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.

An additional 291,300 shares will be allocated due to the extension of the

Incentive Plan, giving a total of 507,120 shares that will be allocated under

the current and extended 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

266,000 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 358,716 own

shares.

The extension of the Incentive Plan 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 2025.

Dated: 6 November 2024

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

E-mail: 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

***

This information is subject to the disclosure requirements according to section

5-12 of the Norwegian Securities Trading Act and Euronext Oslo Rule Book II -

Issuer Rules.

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.