Komplett Bank Annual Report 2021

Average fair value of granted options in 2021 was NOK 7.76 (2020: NOK 2.60), total NOK 5.5 million (2020: NOK 5.5 million). Expensed costs for share options programs were NOK 5.6 million in 2021(2020: NOK 12.6 million). For calculation of fair value of granted options, Black & Scholes’s option pricing model has been used. The value of vested options is recognized against other paid-in equity. The following assumptions are used in the calculation: Ǵ Share price at the time of the grant: The share price used equals the listed price at Oslo Børs at the time of the grant, weighted average in 2021 was NOK 10.30 (2020: NOK 4.07) Ǵ Volatility: Historical volatility is expected to be an indication of future volatility. Expected volatility is therefore equal to historic volatility of 35% in 2021 (2020: 35%). Ǵ Expiration of the option: The option’s expected maturity time was 4.9 years in 2021 (2020: 5.0 years). Ǵ Risk-free rate: Risk-free rate used in the calculation of the options equals the interest rate on 5 year government bonds, i.e. average 1.05% in 2021 (2020: 1.22%). Variable remuneration to senior management is referred to note 20. Komplett Bank / Annual Report 2021 61

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