Norsk Hydro ASA

Regulatory Filings • Aug 14, 2025

Norsk Hydro: Hydro cuts costs and carries out strategic workforce adjustment

Norsk Hydro: Hydro cuts costs and carries out strategic workforce adjustment

To strengthen its long-term resilience, Hydro has decided to initiate a process

aiming to cut annual costs by NOK 1 billion, including reducing the overall

workforce by 750 positions.

Hydro is implementing measures to cut annual costs and align its organizational

structure in accordance with strategic goals and changing business requirements.

When completed, these measures, including reducing the overall workforce and

initiatives to reduce travel costs and consultancy costs, are expected to

provide an annual cost reduction of NOK 1 billion.

This measure comes in addition to the already communicated improvement program

and reduction in the capex estimate for 2025 from NOK 15 billion to NOK 13.5

billion.

"By taking this step now, rather than later, we strengthen Hydro's resilience

and position ourselves to compete and succeed in a world where geopolitical

unpredictability accelerates volatility and creates new risks," says President

and CEO Eivind Kallevik.

Following the temporary hiring freeze implemented in June and the project to

evaluate the number of white collar positions across the company, Hydro has

decided to reduce the number of white collar employees by approximately 750

positions.

This workforce adjustment process will begin immediately and result in a

reduction of 600 FTEs by year end 2025, with an additional 150 to be identified

through efficiency initiatives from 2026 onwards.

Hydro remains firmly committed to conducting this transition with transparency

and care, ensuring close collaboration with employee representatives throughout

the process. The company's approach will be guided by its values of care,

courage and collaboration.

The workforce adjustment affects white collar roles, like staff and support

functions, engineering, commercial, supply chain, and IT across group functions,

Business Areas, and Global Business Services. Blue collar positions, like

production, maintenance and press operators within the Business Areas, are not

affected by this process.

By implementing these measures, Hydro aims to further enhance its ability to

navigate uncertainty and continue delivering long-term value to customers,

employees, and stakeholders.

Investor contact:

Elitsa Blessi

+47 917 75 472

elitsa.blessi@hydro.com

Media contact:

Halvor Molland

+47 92979797

halvor.molland@hydro.com

This information is subject to the disclosure requirements pursuant to Section

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

II.