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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.

Date
Aggregate daily volume (no. of shares)
Volume weighted average price (NOK)
Total transaction value (NOK)
11/09/2024   240 000    57.40   13 776 048  
12/09/2024   224 500   58.99   13 242 761  
13/09/2024   240 000    58.84   14 121 600  
16/09/2024   154 089   60.07   9 255 649  
17/09/2024   180 000   60.99   10 977 552  
18/09/2024   208 700 60.54   12 635 470
19/09/2024 119 300 63.09 7 527 031
20/09/2024 240 500 62.15 14 947 700
23/09/2024 240 000 61.81 14 835 072
24/09/2024 55 000 65.47 3 600 977
25/09/2024   240 000   65.10   15 623 376  
26/09/2024   78 087   66.92   5 225 652  
27/09/2024   114 000   68.35   7 791 535  
30/09/2024   210 000   68.54   14 392 476  
01/10/2024   196 780   68.33   13 446 627  
02/10/2024   172 000   68,81   11 834 598  
03/10/2024   250 000   67,53   16 881 300  
04/10/2024   225 000   68,26   15 357 375  
07/10/2024   150 000   68,63   10 294 395  
08/10/2024   300 000   66,30   19 891 050  
09/10/2024   230 000   66.54   15 303 740  
10/10/2024   218 521   66.99   14 637 695  
11/10/2024   8 293   68.37   566 967  
14/10/2024   113 000   69.38   7 840 302  
15/10/2024   255 000   67.85   17 302 796  
16/10/2024   219 200   68.76   15 072 345  
17/10/2024   164 000   68.67   11 262 077  
18/10/2024   54 580   69.69   3 803 899  
21/10/2024   164 000   69.21   11 351 129  
22/10/2024   270 000   68.47   18 486 279  
23/10/2024   278 000   68.15   18 944 922  
24/10/2024   250 000   68.26   17 065 900  
25/10/2024   330 000   67.37   22 233 651  
28/10/2024   352 746   67.63   23 857 729  
29/10/2024   5 530   68.05   376 301  
30/10/2024   89 000   68.78   6 121 580  
31/10/2024   178 900   68.10   12 183 358  
01/11/2024   110 000   68.75   7 562 236  
04/11/2024   165 000   69.43   11 455 554  
05/10/2024   138 969   69.79   9 699 050  
06/11/2024   200 000   69.32   13 864 720  
07/11/2024   7 211   69.86   503 744  
08/11/2024   250 000   69.62   17 406 075  
11/11/2024   350 000   68.26   23 890 125  
12/11/2024   650 000   65.85   42 805 035  
13/11/2024   580 000   64.88   37 627 442  
14/11/2024   215 020   64.60   13 891 195  
15/11/2024   38 758   66.12   2 562 652  
18/11/2024   -   0.00   -  
19/11/2024   10 000   70.12   701 189  
20/11/2024   50 000   72.13   3 606 565  
21/11/2024   50 000   71.38   3 569 195  
22/11/2024   30 000   71.40   2 142 039  
25/11/2024   -   -   -  
26/11/2024   34 730   71.98   2 500 022  
27/11/2024   300 000   69,55   20 864 880  
28/11/2024   460 000   68,28   31 408 018  
29/11/2024   330 900   68,46   22 653 149  
02/12/2024   325 000   68,03   22 110 530  
03/12/2024   30 000   68,94   2 068 266  
04/12/2024   34 921   69.12   2 413 813  
05/12/2024   -   -   -  
06/12/2024   600 000   67.77   40 661 880  
09/12/2024   200 000   67.85   13 570 700  
10/12/2024   500 000   66.96   33 477 650  

Accumulated to date  

12 679 235   66.65   845 084 634