Norsk Hydro: Resolution from the Corporate Assembly 25 May 2021 regarding remuneration to the Board of Directors and its preparatory bodies for 2021

Rhea-AI Summary

Norsk Hydro ASA's Corporate Assembly met on May 25, 2021, to approve the remuneration for the Board of Directors for the fiscal year 2021. The proposed remuneration reflects an approximate 3% increase. Key figures include the Chair's compensation rising from 686,000 to 707,000 NOK and Deputy Chair's from 413,000 to 426,000 NOK. Travel compensation for board members living outside Norway will now be 30,000 NOK per meeting attended. This adjustment aligns with the company's commitment to governance and stakeholder engagement.

Positive

• Board of Directors' remuneration increased by approximately 3%.
• Travel compensation for international board members raised to 30,000 NOK.

Negative

• None.

The Corporate Assembly of Norsk Hydro ASA has in its meeting on 25 May 2021 adopted the following resolution related to remuneration to the Board of Directors and its preparatory bodies for the financial year 2021:

In accordance with the Nomination Committee’s proposal, c.f. the Articles of Association section 5A, the Corporate Assembly of Norsk Hydro ASA resolved that the Board of Directors and its preparatory bodies for the financial year 2021 (1 January 2021 – 31 December 2021) shall receive the following remuneration (all amounts in Norwegian kroner):

	From	To
Board of Directors
Chair	686 000	707 000
Deputy Chair	413 000	426 000
Board Director	362 000	373 000
Travel compensation	23 000	30 000
Audit Committee
Chair	209 000	215 000
Member	136 000	140 000
Compensation Committee
Chair	120 500	124 000
Member	90 500	93 000

The increase corresponds to an increase of approximately 3 percent.

Travel compensation is increased to 30 000 per physical meeting for Board Directors residing outside of Norway, when the Board Director concerned must cross a national board to attend the meeting. Travel expenses will as previously be covered by the company as per account rendered.

Information on the Corporate Assembly of Norsk Hydro ASA is available here: https://www.hydro.com/en-NO/about-hydro/corporate-governance/governance-bodies/

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Investor contact:
Line Haugetraa
+4741406376
line.haugetraa@hydro.com

FAQ

What is the remuneration increase for the Chair of Norsk Hydro ASA in 2021?

The Chair's remuneration increased from 686,000 NOK to 707,000 NOK.

How much travel compensation will board directors residing outside Norway receive?

Board directors residing outside Norway will receive 30,000 NOK per physical meeting.

When did Norsk Hydro ASA's Corporate Assembly meet to discuss board remuneration?

The Corporate Assembly met on May 25, 2021, to discuss board remuneration.

What was the percentage increase in board remuneration for Norsk Hydro ASA in 2021?

The board remuneration increased by approximately 3% in 2021.