H+H International A/S (hereinafter referred to as "H+H") has initiated the long-term incentive programme ("LTIP") 2024 being a performance share unit ("PSU") programme. The LTIP terms are determined by H+H's Board of Directors and comply with the Remuneration Policy for Board of Directors and Executive Board available on H+H's website here (https://www.hplush.com/en/investor-relations/remuneration).The purpose of the LTIP is to motivate participants to pursue and reach the targets for the long-term key performance indicators ("KPIs") defined by the Board of Directors.

The Executive Board of H+H as well as certain key employees in the H+H Group are eligible to participate in the LTIP and be granted PSUs free of charge. The value of the PSUs granted to an executive board member under a LTIP may not at the time of grant exceed 60% of the executive board member's annual fixed salary.

A total of approximately 160,300 PSUs are set to be granted to participants, including 47,850 PSUs to CEO Jörg Brinkmann and 17,600 PSUs to CFO Bjarne Pedersen. Based on the average share price for a H+H share on the Nasdaq Copenhagen stock exchange during the first ten business days after the release on 5 March 2024 of the H+H annual report for 2023, the theoretical value per PSU in the LTIP 2024 is DKK 68.0223, corresponding to a total theoretical value at initiation of DKK 10,903,974.69 if all 160,300 PSUs were to vest. The actual number of the granted PSUs that will vest by the end of the vesting period depends on the level of achievement of the KPI targets set for LTIP 2024.

The vesting period is approximately three years, with vesting being in 2027 after announcement of the audited annual report for 2026. At vesting, the participants will receive one H+H share per PSU that vests.

LTIP 2024 has no dilution effect on H+H shareholders, since H+H intends to use treasury shares to meet its obligations to deliver H+H shares at vesting.

Kent Arentoft Jörg Brinkman
Chair Chief Executive Officer