Norsk Hydro ASA

Norsk Hydro: Initiation of share buyback program

The Board of Directors of Norsk Hydro ASA has resolved to initiate a share

buyback program to service its shareholders by way of reducing its share

capital. The share buyback program will be executed in accordance with the

authorization granted to the Board of Directors by the Annual General Meeting of

Norsk Hydro held on May 7, 2024.

The share buyback program covers purchase of up to 100,000,000 shares with a

maximum value of NOK 2,000 million, inclusive of the proportional redemption of

shares owned by the Norwegian State. NOK 2,000 million is equivalent to

approximately 1.8% of the market value of the share capital in Norsk Hydro at

the current share price level.

The buyback program will commence September 11, 2024 and is planned finalized

within February 28, 2025, with the authorization being valid until June

30, 2025. The shares repurchased under the buyback program will be redeemed

(cancelled) by way of a share capital decrease in Norsk Hydro, subject to

approval by Norsk Hydro's General Meeting.

The minimum and maximum amounts that can be paid per share shall be NOK 20 and

NOK 150, respectively.

Norsk Hydro has entered an agreement with the Norwegian State according to which

the Norwegian State's shares will be redeemed on a pro-rata basis to ensure that

the Norwegian State's ownership is unchanged when shares are cancelled.

Norsk Hydro has engaged Citigroup Global Markets Europe AG to manage and carry

out the share repurchases in the market. Citigroup Global Markets Europe AG will

make its trading decisions independently of, and uninfluenced by, Norsk Hydro.

The share buyback program is carried out in accordance with the Market Abuse

Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No

2016/1052 ("Safe Harbour Regulation").

Investor contact:

Martine Rambøl Hagen

Head of Investor Relations

+47 91708918

This information is made public by Norsk Hydro pursuant to the EU Market Abuse

Regulation and subject to the disclosure requirements pursuant to Section 5-12

of the Norwegian Securities Trading Act.

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