Share buy-back program

Share buy-back program 2024-2025

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").

Norsk Hydro’s purchases of own shares are disclosed to the Oslo Stock Exchange on an on-going basis and details published in the table below.

As a result of MAR (EU’s market abuse regulation) being implemented in Norway from September 18, 2024, purchases will be disclosed on an aggregate and detailed form on a weekly basis. The aggregate form can be found in the table below.