Incentive programs

Share Savings Program 2026

The Annual General Meeting on 23 April 2026 resolved to adopt a long-term incentive program in the form of a share savings program for all permanent employees in the company (“Share Savings Program 2026”).

Participation in the Share Savings Program 2026 required the participants to either, through a personal investment, acquire class B shares in SaltX at market price on Nasdaq First North Premier Growth Market, or allocate class B shares already held by the participants to Share Savings Program 2026 (“Investment Shares”), for a value corresponding to no more than five (5) percent of the respective participant’s annual gross fixed salary. Shares that had previously been allocated to Share Savings Program 2025 could not be allocated as Investment Shares under Share Savings Program 2026.

Each Investment Share entitles the participants to, subject to certain limitations and that the performance condition of the program is met, receive three (3) warrants of series 2026/2028 free of charge entitling to subscription for one (1) class B share in the company (“Performance Share”) each, at a subscription price corresponding to the quota value of the share, at the expiry of a two-year vesting period that commenced on 1 July 2026.

The right to receive shares within the framework of the Share Savings Program 2026 is conditional upon the fulfilment of a performance condition related to the development of the company’s share price during the measurement period from 1 July 2026 up to and including 30 June 2028. The share price will be measured as the volume weighted average price of the SaltX class B share during the ten (10) trading days immediately preceding 1 July 2026, corresponding to SEK 7.12, and the ten (10) trading days immediately preceding 1 July 2028. An increase in the share price by less than 20 percent does not entitle to receive any Performance Shares and an increase in the share price by 100 percent or more will entitle to receive the maximum number of Performance Shares, i.e. three (3) Performance Shares per Investment Share, at the expiry of the vesting period. In the event of an increase in the share price between 20 percent and 100 percent, vesting of shares will occur on a linear basis. In total, 103,595 Investment Shares have been allocated to the Share Savings Program 2026 by the participants, entitling to a total of no more than 310,785 Performance Shares.

The right to receive Performance Shares is further conditional upon the participant retaining the Investment Shares throughout the entire vesting period and that the participant’s employment with the company has not been terminated at the expiry of the vesting period, with certain exceptions for customary “good leaver” situations.

In order to enable delivery of Performance Shares to the Participants under Share Savings Program 2026, the Annual General Meeting resolved on a directed issue of warrants of series 2026/2028 to the company and approved transfer of the warrants of series 2026/2028 to participants in Share Savings Program 2026. The warrants may be subject to customary recalculation in accordance with the terms of the warrants.

Share Savings Program 2025

The Annual General Meeting on 25 April 2025 resolved to adopt a long-term incentive program in the form of a share savings program for all permanent employees in the company (“Share Savings Program 2025“).

Participation in the Share Savings Program 2025 required the participants to, through a personal investment, acquire class B shares in SaltX at market price on Nasdaq First North Premier Growth Market (“Investment Shares”) for an amount corresponding to no more than five (5) percent of the respective participant’s annual gross fixed salary.

Each Investment Share entitles the participants, subject to certain limitations and that the performance condition of the program is met, to receive three (3) warrants of series 2025/2027 free of charge. Following recalculation due to the company’s rights issue in 2025, each warrant entitles to subscription for 1.03 shares of series B in the company (“Performance Share”), at a subscription price corresponding to the quota value of the share at the expiry of a two-year vesting period commencing on 1 July 2025.

The right to receive shares within the framework of the Share Savings Program 2025 is conditional upon the fulfilment of a performance condition related to the development of the company’s share price during the measurement period from 1 July 2025 up to and including 30 June 2027. The share price will be measured as the volume weighted average price of the SaltX class B share during the ten (10) trading days immediately preceding 1 July 2025, corresponding to SEK 4.47, and the ten (10) trading days immediately preceding 1 July 2027. An increase in the share price by less than 20 percent does not entitle to receive any Performance Shares and an increase in the share price by 100 percent or more will entitle to receive the maximum number of Performance Shares, i.e. 3.09 Performance Shares per Investment Share, at the expiry of the vesting period. In the event of an increase in the share price between 20 percent and 100 percent, vesting of shares will occur on a linear basis. In total, 154,791 Investment Shares have been allocated to the Share Savings Program 2025 by the participants, entitling to a total of no more than 478,304 Performance Shares.

The right to receive Performance Shares is further conditional upon the participant retaining the Investment Shares throughout the entire vesting period and that the participant’s employment with the company has not been terminated at the expiry of the vesting period, with certain exceptions for customary “good leaver” situations.

In order to enable delivery of Performance Shares to the Participants under Share Savings Program 2025, the Annual General Meeting resolved on a directed issue of warrants of series 2025/2027 to the company and approved transfer of the warrants of series 2025/2027 to participants in Share Savings Program 2025. The warrants may be subject to customary recalculation in accordance with the terms of the warrants.