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Incentive program

At an Extraordinary General Meeting held on November 24, 2020, it was decided to introduce a three-year incentive program aimed at the company’s senior executives and additional key employees, a total of 25 employees. The incentive program comprises a total of a maximum of 400,000 warrants, which entitles to a maximum of new subscriptions of the corresponding number of shares. Balco’s total cost for the incentive program during the program’s duration is expected to amount to approximately 4 MSEK. The program entails a dilution corresponding to approximately 1.8 percent of the company’s total number of shares. The senior executives in Balco have acquired 236,000 warrants amounting to a total value of 2,673,880 SEK.

At the Annual General Meeting held on May 25, 2021, it was decided to introduce a three-year incentive program aimed at the company’s senior executives and additional key employees, a total of 11 employees. The incentive program comprises a total of a maximum of 200,000 warrants, which entitles to a maximum of new subscriptions of the corresponding number of shares. Balco’s total cost for the incentive program during the program’s duration is expected to amount to approximately 2 MSEK. The program entails a dilution corresponding to approximately 0.9 percent of the company’s total number of shares. The senior executives in Balco have acquired 136,498 warrants amounting to a total value of 1,325,396 SEK.

The purpose of the incentive program is to encourage broad shareholding among the company’s key employees, facilitate recruitment, retain competent and talented employees, increase the community of interest between the key employees’ and the company’s objectives and increase the motivation to achieve or exceed the company’s financial goals.