Eqva ASA

Remuneration Information • Nov 30, 2022

Eqva launches incentive programs

Eqva launches incentive programs

Eqva ASA - Stock exchange release - Other information disclosed according to the rules of the Exchange – 30 November 2022 at 14:30 CET.

Eqva ASA’s ("Eqva") Board of Directors has today approved the final details of a proposed employee incentive scheme. Eqva wants to ensure that its employee incentives are aligned with the shareholders' interests. In addition, Eqva wants to reward long-term and dedicated work which is deemed to be of value to the group and its shareholders.

In support of this, the Board has decided to approve the proposed incentive scheme, which includes the following three elements:

- Share option program (SOP)

- Bonus incentive program (BIP)

- Employee share program (ESP)

The Share Option Program (SOP)

The SOP is intended for senior executives, board members and key personnel employed by Eqva. Under the SOP, participants will receive share options, which can be exercised by paying the predefined strike price. The strike price is set as the average share price of the last 20 days prior to grant. One share option gives a contingent entitlement to one share after paying the strike price.

The SOP goes into effect on 1 January 2023. The vesting period is from 1 to 3 years after grant, and the strike price is adjusted in the following way:

- Exercise after 1 year: Basis Strike

- Exercise after 2 years: Basis Strike * 1.10

- Exercise after 3 years: Basis Strike * 1.21

The SOP encompasses up to 7.5% of total issued shares fully diluted. Final number of options allocated and allocation to primary insiders will be published after grant. The company's liability with respect to the share option program aims to be met through holdings of treasury shares or by issuing shares.

The Bonus Incentive Program (BIP)

The BIP is intended for senior executives and key personnel employed by Eqva. The criteria for bonus award are set based on 80% group targets and 20% individual targets. Maximum pay-out in the bonus plan is between 1.5x and 3x monthly salary. 75% of the pay-out will be in Eqva shares, 25% will be paid as cash bonus. For the shares awarded in the bonus plan there will be a three-year lock-up period. The company's liability with respect to the bonus plan aims to be met through holdings of treasury shares or by issuing shares.

The Employee Share Program (ESP)

The ESP is intended for all group employees. In 2022, all employees will be invited to purchase shares in Eqva at 20% discount. Maximum purchase per employee is NOK 20,000 per year. For the shares purchased through the ESP, there will be a two-year lock-up period. The company's liability with respect to the ESP aims to be met through holdings of treasury shares or by issuing shares.

Share buy-back program

On 29 September 2023, the Board of Directors initiated a share buyback program in accordance with the authorisations granted by the general meeting held on 13 June 2022, with the purpose to ensure that the company has sufficient treasury shares to carry out the incentive program. The company's liabilities with respect to the sharer in the incentive program will to the extent possible be met through holdings of treasury shares.

For further information, please contact:

Eirik Sævareid, CFO Tel: +47 99 27 46 37 Email: eirik.saevareid@eqva.no

Eqva ASA in brief

Eqva ASA is a knowledge-based active owner of engineering, construction and service companies that contribute to the green transition in maritime, power intensive and renewable industries. It aims to become a fully integrated service and maintenance supplier for the Norwegian landbased and maritime industry.

The group has a well-diversified product and market portfolio, and further growth will be established through a combination of company-based development, utilization of synergies between the companies in the group and value-creating M&A activities.

Key companies in the group are BKS Industri, Havyard Leirvik and Fossberg Kraft, each building on decades of experience and widely recognised by clients in a broad range of industries.

Read more on www.eqva.no

This information is published in accordance with the Market Abuse Regulation (EU) 596/2014 Article 5, as supplemented by delegated Commission Regulation (EU) 2016/1052,and is subject to disclosure requirements in accordance with the Securities Trading Act § 5-12.