January 2025 – January 2028 (3 years)

Introduction
The equality plan of AG Seafood Ltd. is based on Act No. 150/2020 on Equal Status
and Equal Rights of Women and Men. The plan, which also includes the company’s
equal pay policy, was approved by the company’s Equal pay board on January 10,
2024, and will be reviewed every three years in accordance with Article 5 of the Act.
The plan takes effect once it has been approved by the Directorate of Equality and is
accessible on the AG Seafood Ltd. website at www.agseafood.is.

Equal Pay Policy
The equal pay policy of AG Seafood Ltd. ensures that women, men, and individuals with
a neutral gender registration in the national registry receive equal pay and enjoy the
same benefits for the same or equally valuable work. Equal pay means that wages are
determined in the same way for individuals regardless of gender. The criteria used as
the basis for wage decisions must not involve gender-based discrimination (Article 6 of
Act No. 150/2020). This will be ensured by:

• Implementing an equal pay system through achieving equal pay certification in
  accordance with Article 7 of Act No. 150/2020.
• Continuous improvement of the system by conducting wage analyses and
  regular job evaluations.
• Addressing unexplained wage gaps with corrective actions.
• Communicating the equal pay policy to all employees.
• Making the equal pay policy accessible to the public on the company’s
  external website.
• The Managing Director being responsible for the equal pay system and the
  progress of the equal pay policy.