Fiven Annual Report 2022

Note 9 Employee benefit obligations (pensions) BREAKDOWN OF NET PENSION EXPENSES Amounts in EUR thousand 1 Jan-31 Dec 22 1 Jan-31 Dec 21 Defined contribution plans 1 167 715 Defined benefit plan (gain) (78) 180 Total pension cost 1 089 895 PENSION OBLIGATIONS Amounts in EUR thousand 31 Dec 2022 31 Dec 2021 Present value of pension obligation 265 361 Fair value of plan assets - - Net unfunded pension obligations 265 361 Defined contribution plans Defined contribution plans are the main pensions plan for Fiven's Norwegian. In Fiven Norge AS the contribution is 4% of annual salary up to 7.1G and 15% from 7.1G to 12G. In Fiven ASA the contribution is 5% of annual salary up to 7.1G and 8% from 7.1G to 12G. 1G refers to the Norwegian national insurance scheme's basic amount, which was 111 477 as of 1 May 2022. In addition, Fiven Norge AS participates in a Norwegian multi-employer early retirement scheme called AFP, where sufficient information to calculate each participant's pension obligation is not available, is accounted for as it is a defined contribution plan in accordance with the Ministry of Finance's conclusion. The participants in the pension plan are jointly responsible for 2/3 of the plan's pension obligation, the government is responsible for the remaining part. The yearly pension premium in 202w is 2.6 percent of the employees' salary between 1G and 7.1G, covering this year's pension payments and contribution to a security fund for future pension obligations. The subsidiary in Brazil has a defined contribution plan with a contribution from the company. The employee participates in the plan with a percentage that may vary from 2 percent up to 7 percent of their salary. The company contributes with 150 percent of the employee contribution. The subsidiary in Belgium has a defined contribution plan with a contribution from the company and from the employee. The company contribution varies from 1.4 percent to 4.23 percent of the monthly salary, the employee contribution is equal to 50 percent of the company contribution. Defined benefit plans Fiven Norge AS has an unfunded benefit plan covering retired employees only. There are no new pensioners entering the plan. In 2022 a net gain of 78 kEUR was recorded as the remeasurement gain was greater than interest and service cost during the year (80 kEUR expense in 2021). Note 10 Management remuneration The key principles for determination of the Group’s remuneration is to encourage a strong, sustainable and performance-based culture. The remuneration policy should also ensure that Fiven has a strong ability to attract, retain and develop qualified people with adequate leadership and professional competencies and skills, in order to support and contribute to profitable growth and creation of shareholder value. Determination of remuneration also takes into account the breadth and complexity of the company’s worldwide operations and reflects the company’s objections for sustainability and growth. The company shall seek to offer a remuneration level on market terms satisfying the company's need to recruit and keep highly qualified personnel on executive management level. More specifically, this implies that the total compensation of the executive management consists of a fixed compensation and other remuneration at a level reflecting the principles mentioned above. Remuneration includes: 1. Salary - The fixed base salary will be determined based on the following criteria: job level, local conditions in the labor market, performance level, budget and guidelines for annual salary review in line with general salary trends. The fixed compensation shall be reasonable and competitive and represent a significant component in the executive management compensation Fiven Annual Report 2022 Financial statements 49

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