Equality and non-discrimination

Gender Distribution and Pay

Of the total employees in the company (75) as of December 2025, 24 percent were women. Of administrative positions, almost 40 percent were women, while in operational positions 10 percent were women. Among employees in top and middle management positions, 35 percent were women. During 2025, Hydrovolt hired 8 new employees, of whom 50 percent were women.

In 2025, Hydrovolt had one temporary employee, and we therefore do not find it necessary to account for gender differences. At the end of 2025, no women were on parental leave, while men had an average of 7.47 weeks of parental leave.

All of our operators have equal pay in accordance with collective agreements entered into for this employee group. There is therefore no difference between what male and female operators earn at Hydrovolt. For other positions in the company, the average salary for men at Hydrovolt is NOK 1,085,723 and for women NOK 976,407. The pay difference is not considered large enough to account for the reason for this.

To ensure equal pay and equivalent working conditions, the company conducts an annual pay review in which pay is compared across equivalent positions and with other companies, and criteria for annual pay adjustments are identified. The company also has a good working relationship with the trade union in connection with operator positions in the company.

Hydrovolt offers equal insurance schemes, flexible working arrangements that enable work-life balance, and accommodates employees at different life stages through, among other things, advance payment of parental benefit, coverage of any difference between the employee's salary and the maximum reimbursement amount from NAV while the employee is on parental leave with their child, and the option of reduced working hours. In this way, the company works to ensure equivalent working conditions.

Recruitment and Promotion

Hydrovolt conducts annual employee reviews and development appraisals, which are used systematically to map and document development aspirations to ensure equal opportunities for career development. Each department in the company also has the opportunity to identify relevant training and competency measures for its employees, and the company conducts, among other things, an annual safety day for all employees as a measure.

Hydrovolt also works to ensure equal opportunities and promote diversity in recruitment processes. To achieve this, objective criteria are used in the assessment of candidates, internal positions are advertised internally before external recruitment, and job advertisements are formulated in neutral and inclusive language. Gender balance in appointments is also sought where possible. Recruitment activities are regularly monitored and assessed by the HR department.

How we work to ensure equality and non-discrimination

Results and Expectations Relating to Equality and Non-Discrimination

Hydrovolt works systematically on equality following the required four-step model. The company does this by mapping risk through HR data and surveys, analysing the causes of any differences, implementing measures, and regularly evaluating results and the effect of measures. No findings or differences were identified in 2025 that required extraordinary measures.

Consideration of equality and non-discrimination is embedded in Hydrovolt's personnel handbook and included in the company's broader personnel policy.

For the continued work, the company will focus on the following:

• Actively working to increase the proportion of women in operator positions
• Investing in competency development, training, and internal mobility to ensure good development opportunities
• Actively using employee surveys to identify measures for further organisational development
• Systematic work on health, working environment, and safety, including recording and following up on deviations and improvement proposals

Going forward, the company will actively encourage women to apply for any new operator positions, in addition to existing measures. The company will also implement a rotation programme among operators and explore the possibility of a certificate supplement and potentially becoming an approved apprenticeship company. In addition, Hydrovolt will conduct a pulse survey following downsizing and reorganisation to measure employee satisfaction and obtain input on any measures for further organisational development.

The site manager and HR manager in Fredrikstad hold meetings with employee representatives every other week to ensure a good collaborative environment and identify any need for preventive measures. The company also has a working environment committee that meets four times a year, in which the occupational health service also participates. The collaboration with the occupational health service works well, and we also have access to an adviser should any challenges arise relating to equality or discrimination that we are unable to handle independently.

The company has an established whistleblowing procedure for reprehensible matters, including discrimination and harassment, which is known among employees and available on internal channels, the company website, and the personnel handbook. The company will be reminded of this procedure and other measures on relevant occasions throughout the year.

The work on equality is also addressed in the Working Environment Committee (AMU) and the safety representative scheme. We work continuously to maintain and carry forward an inclusive working environment, and will work to establish a dedicated People Strategy for the company.