Bergen Carbon Solutions AS

Remuneration Information • Nov 15, 2022

BCS – Award of share options and renewed authorisation

BCS – Award of share options and renewed authorisation

(Bergen, 15 November 2022): Bergen Carbon Solutions AS (BCS, OSE:BCS)

Reference is made to the stock exchange announcement on 4 November 2022 on the appointment of Odd Strømsnes as new CEO in Bergen Carbon Solutions AS.

The Board of Directors of Bergen Carbon Solutions AS has awarded Odd Strømsnes 400,000 options as part of the company’s existing proxy on share option program for employees. 1/3 of the options can be exercised two years after Mr. Strømsnes resumes his new position and 2/3 of the options can be exercised four years after he has resumed his new position. Exercise price for the options is equal to the volume-weighted average price (VWAP) for the last 10 trading days before the extraordinary general meeting scheduled for 22 November 2022, with an increase of five percentage points per year.

After this award Odd Strømsnes holds 400,000 options in Bergen Carbon Solutions AS.

Further, the Board wants to ensure that the general manager and the administration have the necessary tools to incentivize key personnel and future employees. Thus, the board has also today proposed for the extraordinary general meeting on 22 November 2022 to replace the current authorisation to issue new shares in connection with option programmes, incentive schemes and the like with a new authorisation up to 5% of the Company's share capital.

The Company currently is in an industrialization phase which requires special competence, continuity and workload for the chairman. The Board has therefore also proposed for the extraordinary general meeting that the Chairman of the Board, Jon André Løkke, is granted 300,000 options. 1/3 of the options can be exercised two years after the extraordinary general meeting and 2/3 of the options three years after the extraordinary general meeting. Exercise price for the options is equal to the volume-weighted average price (VWAP) for the last 10 trading days before the extraordinary general meeting scheduled for 22 November 2022, with an increase of five percentage points per year.

After this proposed award, Jon André Løkke will hold 300,000 options in Bergen Carbon Solutions AS.

ENDS

For further information, please contact:

Finn Blydt-Svendsen, Interim CEO, fbs@bergencarbonsolutions.com, +47 930 40 797

Karina Brudeseth, CFO, karbru@bergencarbonsolutions.com, +47 413 43 381

About Bergen Carbon Solutions Bergen Carbon Solutions aims to pioneer a new Norwegian industry for ground-breaking, environmentally friendly material-technology. Bergen Carbon Solutions utilizes CO₂ and Norwegian hydropower to create carbon products such as nanofibers, nanotubes, and graphite. Bergen Carbon Solutions is listed on Euronext Growth under the ticker BCS.