KPMG AS

Telephone +47 45 40 40 63

Sørkedalsveien 6

Internet www.kpmg.no

P.O. Box 7000 Majorstuen

Enterprise 935 174 627 MVA

N-0306 Oslo

To the General Meeting of Norsk Hydro ASA

Confirmation of coverage for remaining non-distributable equity after share capital reduction

We have performed procedures to examine whether there is full cover for the remaining share capital and other non-distributable equity after the reduction in share capital in Norsk Hydro ASA.

The board of directors' responsibility for the reduction

The board of directors is responsible for ensuring that the reduction does not compromise the requirement for full cover for the company's non-distributable equity according to the Public Limited Liability Companies Act Section 12-2.

Auditor's responsibility

Our responsibility is to express an opinion on this based on our procedures.

We have performed our procedures and issue our opinion on basis of the Norwegian auditing standard NSAE 3802 "The auditor's assurance reports and statements required by Norwegian Company legislation[1]". The standard requires that we plan and perform procedures to obtain reasonable assurance about whether there is full cover for the remaining share capital and non- distributable equity after due consideration has been given to post balance sheet events and losses expected to occur. Our procedures include an examination of the calculations the board of directors is responsible for, and an assessment of whether due consideration has been given to post balance sheet events that may result in inadequate cover.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

In our opinion there is cover for the remaining share capital and other non-distributable equity after the share capital reduction of NOK 35 347 500,054, from NOK 2 241 247 065,858 to

NOK 2 205 899 565,804, and distribution in excess of nominal value of NOK 673 128 358,008.

Oslo, 8 April 2024

KPMG AS

Monica Hansen

State Authorised Public Accountant

Note: This translation from Norwegian has been prepared for information purposes only.

  1. Norwegian name of standard: SA 3802-1 Revisors uttalelser og redegjørelser etter aksjelovgivningen

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Norsk Hydro ASA published this content on 11 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2024 06:44:10 UTC.