Endúr ASA – Granting of share options under new long-term incentive programme

09 December 2024 – The Board of Directors of Endúr ASA (“Endúr” or “the Company”) has resolved to grant a new long term incentive programme for executive management and key employees, in accordance with the authorization granted by the Annual General Meeting on 23 May 2024. The purpose of the share option plan is to further align the interests of the Company, its shareholders and the senior executives of the Company. The new long-term share option programme largely replaces the previous incentive programme, which to a much larger degree was connected to the Company’s short term financial results and variable pay. “The Board of Directors are very pleased with Endúr’s performance since the current executive management team joined approximately three years ago. Both the Board and the management strongly believe in Endúr’s long-term outlook. The Board has therefore been eager to commit the executive management team and other key employees to an incentive scheme that is linked to the long-term development and success of the Company and its subsidiaries, thereby aligning the long-term interests of Endúr’s shareholders and senior executives. We believe this scheme, which stretches up to a decade ahead, achieves this,” says Pål Reiulf Olsen, chairman of Endúr ASA. The total number of share options awarded under the new long-term incentive programme is 2,450,000. Each option, when exercised, will give the right to acquire one share in the Company. The share options have a strike price equal to the average volume weighted average price of the Company's shares on Oslo Stock Exchange over the 20 last trading days prior to the grant date. Options that have not been exercised will lapse ten (10) years after the grant date. The vesting period of the new granted share options is five (5) years, until 2029. Half of the shares delivered to the option holder upon exercise of share options shall be subject to lock-up. The lock-up ceases for 20 percent of such shares on each anniversary of the vesting of the related options, so that all shares are freely tradable ten (10) years after the grant of the share options. Share options in Endúr ASA have been granted to the following primary insiders according to the terms described above: Jeppe Raaholt (CEO): 680,000 share options. Following the grant, Raaholt holds a total of 800,000 share options and 220,000 shares, the latter through his wholly owned company Råbjørn AS. Einar Olsen (CFO): 450,000 share options. Following the grant, Olsen holds a total of 540,000 share options and 50,000 shares, the latter through his wholly owned company Red Devil Holding AS. The remaining 1,320,000 share options have been granted to a select group of executives from subsidiaries of Endúr ASA. Following the grant of these options, the total number of options outstanding is 3,349,017, including options granted under the Company's previous incentive program for executive management and key employees. See attached primary insider notification forms in accordance with the Market Abuse Regulation article 19. This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act. (ENDS) For further information, please contact: Media - Jeppe Raaholt, CEO of Endúr ASA, tel.: +47 976 69 759 Investors – Einar Olsen, CFO of Endúr ASA, tel.: +47 924 01 787 About Endúr ASA Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialised concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialised project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endur.no.