Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2024

At Mowi ASA’s (the “Company”) annual general meeting (“AGM”) on 30 May 2024 the Board of Directors was authorised to grant options under the Share Option Scheme to Senior Executives, as described in Mowi’s guidelines for remuneration of leading personnel (the “Guidelines”). On 19 June 2024 the Board of Directors granted 1.71 million options at a strike price of NOK 201.6120, corresponding to 107.5% of the volume weighted average share price on the Oslo Stock Exchange at the date of the AGM, to a total of 39 individuals.

In accordance with the Guidelines, the options have a term of 4 years but will become exercisable immediately if a mandatory bid is made for all of the shares in Mowi, if a voluntary offer is followed-up with a forced transfer of shares in accordance with the Norwegian Securities Trading Act or if Mowi is the non-surviving entity in a merger with another company.

The exercise of 50% of the options awarded to an option holder is conditional on achievement of performance criteria, measured in the development of the share price of the Company's shares compared with those of peers ("Performance-based Options"). The exercise of the remaining 50% of the options awarded to an option holder is not conditional on achievement of such performance criteria ("Ordinary Options").

The number of shares and the strike price will be adjusted for dividends and changes in the equity capital during the term of the option according to the Oslo Stock Exchange's derivative rules and provisions in the option agreements. Total profit through the exercise of Performance-based Options in a year is capped at one year’s salary for the option holder, and total profit through the exercise of Ordinary Options in a year is capped at one year’s salary for the option holder. If the profit exceeds this limit, the number of shares to be issued will be reduced accordingly.

The following primary insiders in the Company have been allocated options according to the above, please see attached allocation details. The primary insiders have the following number of shares and options, adjusted for dividends paid, in the Company.

	Total number of	Options granted	Total options
Name	shares owned	in 2024	outstanding
Ivan Vindheim (CEO)	7,903	200,000	991,648
Kristian Ellingsen(CFO)	1,243	100,000	484,634
Øyvind Oaland (COO Farming Norway)	5,631	100,000	484,634
Ben Hadfield (COO Farming Scotland, Ireland, Faroes and Canada East)	8,113	100,000	484,634
Fernando Villarroel(COO Farming Americas)	5,655	100,000	462,255
Ola Brattvoll (COO Sales & Marketing)	10,474	100,000	484,634
Atle Kvist(COO Feed)	786	100,000	484,634
Catarina Martins (CTO & Chief Sustainability Officer)	2,688	45,000	153,747
Kjersti Eikeseth(Chief HR Officer)	120	25,000	25,000
Kim Galtung Døsvig (Investor Relations & Head of Treasury)	1,379	25,000	133,747
Lars Tore Andersen(Group Accounting Director)	1,379	15,000	30,543