Norsk Hydro: Primary insiders have been allocated shares

Norsk Hydro ASA has a share-based Long-Term Incentive program ("LTI") in the form of a maximum remuneration of 30 percent of the annual base salary, dependent on two equally weighted performance metrics for the President and CEO and the other members of the Corporate Management Board. The two performance measures are 1) Hydro's three-year average adjusted RoaCE relative to Hydro's adjusted RoaCE target and 2) Hydro's 3-year Total Shareholder Return (TSR) relative to a basket of peers.

The LTI payment is conditional on Hydro having a positive adjusted EBITDA in the previous year. The participants will be required to invest the net amount after tax in Hydro shares, and they must hold the shares for at least three years.

The list below set out the primary insiders that on March 10, 2023, have been allocated Hydro shares under the LTI plan at NOK 77.24 per share.

Name	Position	Allocated shares LTI program	New holding
Hilde Merete Aasheim	President & CEO	15 101	140 904
Arvid Moss	EVP, Hydro Energy	7 567	183 969
Eivind Kallevik	EVP, Hydro Aluminium Metal	8 483	84 994
Anne-Lene Midseim	EVP, Legal and Compliance	6 139	42 419
John Thuestad	EVP, Hydro Bauxite & Alumina	12 314	30 423
Hilde Vestheim Nordh	EVP, People & HSE	5 670	10 370
Pål Kildemo	EVP and Chief Financial Office	7 641	24 084
Paul Warton	EVP, Hydro Extrusions	12 593	16 431
Therese Rød Holm	EVP, Communication & Public Affairs	1 277	1 277
Trond O. Christophersen	EVP, Corporate Development	1 056	5 384
Total		77 841	540 255

Investor contact:
Line Haugetraa
+47 41406376
Line.Haugetraa@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 the Norwegian Securities Trading Act

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Norsk Hydro: Primary insiders have been allocated shares under the Long Term Incentive program

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