Grants awarded under Aker BP’s Long-Term Incentive Programme

Aker BP’s Long-Term Incentive Programme (LTIP) is designed to incentivise the executive management team (EMT) to deliver on the company’s long-term business objectives and maximise alignment with shareholder value creation.

The LTIP is a share-based scheme in which grants are awarded annually, vested over a three-year period, and subject to a one-year lockup. Each grant represents one underlying share, and the number of grants awarded corresponds to 20 percent of base salary divided by the Aker BP share price at the time of the award.

The final number of shares awarded at the end of the vesting period will be adjusted by up to +/- 100 percent based on an assessment of relative shareholder return as described in Aker BP’s Remuneration report 2022. The number of shares awarded will also be adjusted for dividends paid during the vesting period.

For the 2023-2026 LTIP cycle, the EMT members have been awarded grants with effective date 1 July 2023 as set out in the table below.