Buyback of shares

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Buyback of shares

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Insights

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Aluminium

When you choose aluminium from Hydro, it's strong, light, durable and climate efficient, making you part of a smarter and more sustainable future. Our climate strategy is to cut our CO2 emissions 30% by 2030. Our aluminium can help you meet your goals, too.

Energy

With more than a century of experience in renewable energy, Hydro is one of the top three operators of power production in Norway, and a significant market player in the Nordics and Brazil. We are responsible for developing new business opportunities for Hydro within both renewable energy, hydrogen and batteries, and we provide support to the rest of Hydro’s business areas on contracts, security of supply and energy framework conditions.

Sustainability

Our purpose is to create a more viable society by developing natural resources into products and solutions in innovative and efficient ways. Our ambition is lifting profitability and driving sustainability, creating value for all stakeholders. To tackle our global challenges, the world needs to produce and consume in new ways. We want to contribute to creating a fair society and circular economy by producing responsibly, delivering circular solutions, making net-zero aluminium by 2050 or earlier, and producing and using more renewable energy.

Careers

At Hydro, we put our people at the center of everything we do. By supporting our employees’ growth professionally and personally, we are fostering a community of colleagues who are united in the shared purpose of solving our industries’ most pressing challenges.

Investors

We are a leading aluminium and renewable energy company that has created business opportunities for more than a century by developing products, solutions and industries that address global needs and demands. We supply low-carbon aluminium to customers worldwide and offer renewable energy solutions to industries that want to power manufacturing in a greener way.

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About Hydro

Hydro is a leading industrial company committed to a sustainable future. Our purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways.

The shares were purchased in accordance with a resolution by the Annual General Meeting on May 6, 2008, authorizing buyback of shares in the market at a value of up to NOK 2.25 billion through May 5, 2009. Shares acquired in accordance with the authorization shall be used for no other purpose than cancellation by means of capital reduction.

Hydro has under this authorization repurchased 4,408,000 shares for a total amount of NOK 0.15 billion. In total, Hydro now holds 41,631,086 own shares. The number of outstanding shares is 1,206,325,863.

Hydro has entered into an agreement with the Norwegian state represented by the Ministry of Trade and Industry to redeem and cancel a pro-rata block of shares to keep the Ministry’s ownership interest unchanged. The maximum total amount that may be used under the buy back authorization, including redeeming and cancelling a pro-rata block of shares held by the Ministry, is therefore approximately NOK 4 billion.

Contact
Contact     Stian Hasle
Telephone   +47 22532522
Cellular    +47 97736022
E-mail      Stian.Hasle@hydro.com

Published: October 07, 2008

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