IDEX Biometrics : 2023 executive remuneration report

IDEX Biometrics ASA

2023 Executive Remuneration Report

This report constitutes the Board of Directors of IDEX Biometrics ASA's report to the 2024 annual general meeting about the implementation in 2023 of the Executive Remuneration Policy adopted by the 2023 annual general meeting. The report will be subject to an advisory vote at the 2024 annual general meeting.

This report presents the number of shares, subscription rights exercise price and share price as registered as of December 31, 2023, and on earlier dates, i.e., before the 5:1 share consolidation (reverse split) taking effect on record date January 10, 2024. The incentive subscription rights scheme has adjustment clauses so that the same ratio adjusts the number of subscription rights and the exercise prices.

REMUNERATION POLICY

The Company's remuneration policy for the executives, as well as guidelines for incentive programs as

approved at the Annual General Meeting on May 12, 2022, are available on the Company's website. There is no stated policy for remuneration of the shareholder-elected supervisory board, other than the fees shall be proposed by the Nomination Committee and approved by the Annual General Meeting.

OBJECTIVE AND PRINCIPLES

The objective of the IDEX Group's Executive Remuneration Policy is to attract, motivate and retain highly qualified executives by providing them with a balanced and competitive remuneration package that is focused on sustainable results and is aligned with the Company's long-term strategy. While we do not seek to adhere rigidly to market benchmarks, we monitor and take into account pay levels and incentive opportunities in the principal markets from which we recruit, our peer companies and international companies across industry sectors as relevant.

Many of our investors are long-term holders of our shares. We want our executives to share our

shareholders' perspective and believe remuneration should align their interests accordingly. The balance between the short-term remuneration package and long-termshare-based pay and share purchase plan strengthens this alignment.

The Board did not propose any changes to the pay structure in 2023 and confirms there were no deviations from the Executive Remuneration Policy in 2023.

The remuneration of the Board of Directors is proposed by the Nomination Committee and resolved by the general meeting of shareholders. The guiding principle is that the amount should reflect the time spent by, and the responsibilities of the Board of Directors members. Given the nature of the responsibilities of the Board of Directors, the remuneration is not dependent on the results of the IDEX Group; it consists of a fixed compensation only.

THE COMPENSATION COMMITTEE

The board has appointed a Compensation Committee among its members. In 2023, the main activities of the Compensation Committee were:

• Preparing the 2023 Remuneration Report in line with new reporting standards under the EU Shareholder Rights Directive.
• Reviewing management's recommendations for grants under the share-based programs and also reviewing any adjustments to the frameworks of such programs, where applicable.
• Reviewing the approach for the annual salary review process, taking account of company performance and budget availability in addition to market practice and competition.

2023 Executive Remuneration Report

IDEX Biometrics ASA

• Reviewing the approach to target-setting for and ongoing performance against short-term incentive pay in light of the business environment and the company's stage of development.
• Considering the incentive arrangements in light of the developing future business strategy.
• Reviewing employee benefits provisions against typical market practice.

REMUNERATION OF THE BOARD OF DIRECTORS

The Board of Directors has seven directors elected by the shareholders in a general meeting. Fees to the board of directors are proposed by the Nomination Committee and approved by the annual general meeting in arrears and consist of a fixed annual base fee for the service period since prior annual general meeting and up to the annual general meeting when the fees are approved. Committee tenure is remunerated by separate, additional fees determined in the same manner. The fees are reviewed, but not necessarily increased, each year, taking into account market practice with reference to an international peer group, as well as the need to attract and retain high-caliber individuals. Members of the Board of Directors are not included in any variable pay incentive programs, share incentive programs, retirement benefit plans or other benefit plans.

BOARD REMUNERATION PAID IN 2023

The fees in the table below represent fees approved at the Annual General Meeting on May 23, 2023. The directors did not receive any other fees in the capacity of board members.

NOK thousand	Base board fee		Additional fee
All Board of Directors members	425
Chair of the Board of Directors		85
Chair of the Audit Committee		175
Chair of the Compensation Committee		125
Member of the Audit Committee		100
Member of the Compensation Committee		85

Committee membership	Audit		Compensation
until 2023 Annual General Meeting	Committee		Committee
Morten Opstad (Chair)
Lawrence John Ciaccia (Deputy chair)			Member
Deborah Davis	Member		Chair
Hanne Hovding	Member
Annika Olsson
Thomas M. Quindlen	Member
Stephen A. Skaggs	Chair

OTHER REMUNERATION TO DIRECTORS

Mr. Opstad, the former chair of the board and currently a board member, is a partner at Ræder Bing

advokatfirma AS. Ræder Bing is the legal counsel for IDEX. Mr. Opstad's executive functions beyond board duty, are pursuant to an agreement dated January 30, 2018. The hourly fee for these services is invoiced by Ræder Bing. The law firm provided services to the Company amounting to a total, including the fees to Mr. Opstad, amounting to $172 thousand in 2023 and $234 thousand in 2022.

Mr. Ciaccia has served on IDEX's Strategy Advisory Council (SAC) since January 2014 and served on the SAC through June 2022, when the SAC was discontinued. Mr. Ciaccia also provides consulting services to IDEX. The combined fee for SAC service and consulting services amounted to $50 thousand in 2023 and $58 thousand in 2022.

IDEX does not grant subscription rights to Directors, in their capacity as such. Mr. Ciaccia holds 600,000 incentive subscription rights which were originally granted to him on August 15, 2018, in his capacity of adviser to the company. The exercise price was NOK 5.10 per share. The 2018 subscription rights were replaced by a grant of the same quantity of subscription rights effective June 17, 2020, at a subscription price of NOK 1.71 per share. The subscription rights vest annually over three years and expire on May 15, 2025.

IDEX Biometrics ASA						2023 Executive Remuneration Report
DIRECTORS' SHAREHOLDINGS
			Number of shares				USD thousand
	1 Jan. 2023		Purchased		Sold		31 Dec. 2023	Market value
Morten Opstad (Chair)	7,398,916	-				7,398,916	$ 401
Lawrence John Ciaccia (Deputy chair)	415,021	625,280			-	1,040,301	56
Deborah Davis	564,479	-			-	564,479	31
Hanne Hovding	487,778	-			-	487,778	26
Annika Olsson	52,631	-			-	52,631	3
Thomas M. Quindlen	413,981	-			-	413,981	22
Stephen A. Skaggs	1,018,503	-			-	1,018,503	55
Total	10,350,859	625,280			-	10,976,139	$ 596

CHANGES IN THE REMUNERATION TO THE BOARD OF DIRECTORS

There were no changes to the remuneration of the board in 2023. In 2022 there were no changes other than 2022 reflecting a full year of fees for the audit committee and fees paid to new committee members in 2022. In 2021, the remuneration of the board of directors was increased compared to the prior years to reflect the additional responsibility of members due to IDEX's listing of its ADSs on the Nasdaq Capital Market in the United States. The introduction of a separate compensation committee as of the fourth quarter of 2019 and a separate audit committee as of the first quarter 2021 caused committee-specific additional fees to be paid as of 2020 and 2021, respectively.

Remuneration of the Board of Directors
NOK thousand	2023		Chg	2022		Chg	2021**		Chg	2020*		Chg	2019
Morten Opstad
510	0%	510	0%	510	36%	375	0%	375
Lawrence John Ciaccia1	510	0%	510	0%	510	42%	360	20%	300
Deborah Davis2	650	0%	650	13%	575	53%	375	25%	300
Hanne Høvding3	525	0%	525	17%	450	50%	300	0%	300
Annika Olsson4	425	0%	425	-	-	-	-	-	-
Thomas M. Quindlen5	525	0%	525	88%	280	-	-	-	-
Stephen A. Skaggs6	600		0%		600		18%		510		70%		300		-		-
Total	3,745	0%	3,745	32%	2,835	66%	1,710	34%	1,275
Remuneration of
former member	-	-	-	-	-	-	-	-	300
Total
incl. former member	3,745	0%	3,745	32%	2,835	66%	1,710	9%	1,575

• Board fees for compensation committee members reflect that the committee was active from the fourth quarter of 2019
• Board fees for audit committee members reflect that the committee was active from the first quarter of 2021

1. Mr. Ciaccia was member of the Compensation Committee in the periods that the remuneration paid in 2023, 2022, 2021 and 2020 related to. Mr. Ciaccia was elected as chair of the board at the 2023 Annual General meeting.
2. Ms. Davis was chair of the Compensation Committee in the periods that the remuneration paid in 2023, 2022, 2021 and 2020 related to. Ms. Davis was member of the Audit Committee in the period that remuneration paid in 2023, 2022 and 2021 related to.
3. Ms. Høvding retired from the board effective with the 2023 Annual General Meeting. She was member of the Audit Committee in the period that remuneration paid in 2023, 2022 and 2021 related to.
4. Ms. Olsson was elected as a board member in May 2021.
5. Mr. Quindlen retired from the board effective with the 2023 Annual General meeting. He was a member of the Audit Committee in the period that remuneration paid in 2023 and 2022 related to. He was elected as a board member in May 2021. He was a board observer in the period that remuneration paid in 2021 related to.
6. Mr. Skaggs was chair of the Audit Committee in the period that remuneration paid in 2023, 2022 and 2021 related to.

The amounts above are the cash remuneration as approved by the respective annual general meetings. The effect of any election by the director to take all or part of the remuneration in shares has not been taken into account.

2023 Executive Remuneration Report

IDEX Biometrics ASA

REMUNERATION OF EXECUTIVES

REMUNERATION COMPONENTS

The Remuneration Policy sets out the principles for executive remuneration. IDEX provides the same remuneration components to its executives as to the employees at large:

• Base pay
• Variable cash pay
• Share-basedprograms
• Insurance, pension contribution and other benefits There have not been any deviations from the policy in 2023.

Base pay

The base pay is a fixed cash salary. The base pay is in line with the market for corresponding jobs in the industry and location. Position scoping is based on job content. Within scope, the pay can be adjusted to reflect the individual's expertise and performance. The scoping and level within scope is normally reviewed annually.

Variable cash pay

The Company's annual incentive program for the executives includes revenue generation as a gating and scaling component. In addition, various financial and operational components like product margin, operating expense, product development, supply chain performance and organizational improvement are factored in.

The components are selected from the company's business strategy and operational plans. The variable elements of the remuneration promote the company's goals and align employees' and shareholders' motivation. Full target incentive pay achievement is expressed as a percentage of base pay, up to 100%. In order to have the ability to recognize instances of significant revenue and profitability achievements, variable pay awards may exceed target levels if certain key company performance metrics within the plan have been exceeded in any particular year, but may not exceed 200% of annual base pay.

The following criteria were in effect in 2023. The measurement scale and achievement are not disclosed because of competitive considerations. The criteria reflected the company's strategy of profitable growth, technical innovation and product development, cost control, and organizational development.

Criterion		Weight
Gross margin	10%
Sales Orders and Agreements	40%
Product development and release	35%
Quality	5%
Opex spending vs. budget	5%
HR development actions	5%
Revenue multiplier;
Multiplier of the weighted achievement		Multiplier
of the above

Alignment with strategy and shareholders' interests

Shareholder value creation and sustainable financial results are dependent on profit

Shareholder value creation and sustainable financial results are dependent on product commercialization

Intellectual property creation is a pivotal factor in creating and maintaining competitive advantage

Customer and supplier quality metrics, QMS development and ISO and CQM compliance targets

A sustainable business needs to practice financial discipline The intellectual property and operational effectiveness and efficiency is created by IDEX's human resources

Generating revenue is fundamental to building a viable business from IDEX's technology and absent revenue growth, the other factors have no value

The overall achievement on the above criteria was scaled with a revenue multiplier. The compensation committee and the board reviews performance against criteria and determines the bonus achievement. Overall achievement in 2023, including the revenue multiplier, was 34/100 of target bonus. In view of the company's commercial and financial situation at the end of 2023, no incentive pay was awarded under the plan.

The incentive pay is normally settled in cash. The board may also decide to settle all or part of the incentive pay in shares. Incentives are paid pro rata when the executive has not served the full period. Incentives are normally paid only if the executive remains employed on the settlement date.

IDEX Biometrics ASA

2023 Executive Remuneration Report

The board may offer specific one-off incentive payments related to successful completion of certain key projects. Such incentives will be in addition to any annual incentives. Such one-off incentives may not exceed 25% of annual base pay in a calendar year.

Incentives are paid only in arrears. IDEX's employment agreements do not have any clawback provisions. In cases of misconduct and misinformation, clawback may or may not be successful based on applicable legislation.

No clawbacks of variable pay have been attempted or conducted in 2023.

Share-based programs

The executives participate in the same share-based programs that are in effect for all employees; in 2023, the subscription rights-based incentive program (SR program) and the employee share purchase plan (ESPP) were provided. The share-based remuneration programs are each year presented to and resolved by the annual general meeting before they are implemented by the board. To align the executives' financial interest with the shareholders', the SR program will yield a gain to the executives only if the share price increases, and four-year vesting by 25% per year balances short-term attractiveness and long-term retention effect. The ESPP is designed to motivate executives to invest in the company. By investing in the company, the executives will have joint interests with the shareholders at large.

The SR program is based on a grant of subscription rights with exercise price at-the-money on the grant date. The option value of new hire grants on grant date has been in the bracket 50%-200% of annual base pay. The bracket is wide because the share-based incentive element must be tailored to the role and should also be reflective of market compensation practice in the location from which the role is based. This element must also provide a strong incentive for key executives to create shareholder value.

Subject to the board's discretion, the exercise price may also be set below market price on the grant date for up to 1% of the registered number of shares in company as of the 2023 Annual General Meeting, but under no circumstance lower than the par value of the shares.

Grants in 2023 are shown in the "Grants of Subscription Rights to Executives" table presented below.

There have not been practiced any lock-up periods after exercise, but this may be determined by the board if the board considers it to be in the long-term interest of the company. The company has a practice of making annual new grants at about ¼ value of the new hire grant.

Executives did not exercise any subscription rights in 2023.

The ESPP allows the participant to convert up to 20% of the base salary into shares, by contributing an amount from each paycheck during six months, and purchasing new issue shares at 15% discount on lower of the share price at beginning and end of the contribution period.

Mr. Graziani participated in the ESPP. The reported benefit is the nominal discount upon acquisition of the shares.

The ESPP has been suspended as of March 1, 2024. The board may choose to re-activate the ESPP in the future.

Insurance, pension contribution and other benefits

Executives are enrolled in the same insurance, pension and other benefits programs as offered to all employees in the same location. The company does not offer any pension schemes to executives other than contribution to insured pension schemes or pension investment, as customary in the location. Pension contribution is earned only on base pay, unless additional contributions are legally mandated in the location.

Contractual arrangements

The employment agreements with the executives are set up in line with the employment agreements in the entity where the executive is employed, with any position-specific modifications.

2023 Executive Remuneration Report

IDEX Biometrics ASA

Executive

Vincent Graziani, CEO

John Kurtzweil, CFO

Anthony Eaton, CTO

Catharina Eklof, CCO

Duration

Open-endedat-will employment agreement with IDEX Biometrics America Inc.

Individual contractor with a fixed-term service contract until July 31, 2024

Open-ended employment agreement with IDEX Biometrics UK Ltd.

Individual contractor *, open- ended service agreement with IDEX Biometrics

ASA

Notice period		Pension

6 months

No contribution

30 days

Not applicable

IDEX Biometrics UK Ltd. program: Minimum company contribution 2% and

3 months the company will match employee contribution up to 6%.

6 months

Not applicable

Termination

terms

3 months salary paid unless terminated by the company for cause. No other post-employment salary or benefits.

Discretionary retention bonus equivalent to USD 100 per work hour invoiced during the course of the Agreement

Non-compete clause for up to 6 months may be invoked by IDEX against paying compensation.

No post-contract payments

• Ms. Eklof is hired as an individual contractor because IDEX does not have a subsidiary in Belgium.

Executives' shareholdings

					Number of shares			USD thousand
Vincent Graziani, CEO		Jan. 1, 2023			Purchased		Sold	Dec. 31, 2023	Market value
	1,584,290	951,154	-		2,535,444	$ 138
John Kurtzweil, CFO	-	-	-		-	-
Anthony Eaton, CTO	284,639	-	-		284,639	15
Catharina Eklof, CCO	89,684	-	-		89,684		5
Total	1,958,613	951,154	-		2,909,767	$ 158
												(USD
			Number of subscription rights				thousand)
												Intrinsic
		Jan 1, 2023			Granted		Exercised	Dec. 31, 2023		value
Vincent Graziani, CEO	7,420,800	2,500,000	-		9,920,800	$ -
John Kurtzweil, CFO	-	500,000	-		500,000	5
Anthony Eaton, CTO	2,710,300	630,900	-		3,341,200	-
Catharina Eklof, CCO	2,210,300	630,900	-		2,841,200	-
Total	12,341,400	4,261,800	-		16,603,200	$ 5

IDEX Biometrics ASA

2023 Executive Remuneration Report

Grants of Subscription Rights to Executives

																USD
								Number of Subscription Rights				thousand
				Exercise					Exercised,
Grantee,	Exercise		price,	Holding				canceled,		Holding		Vested		Nominal
	NOK per				or		Dec. 31,		Dec. 31,		value
Grant year		year		share		Jan 1, 2023		Granted		forfeited		2023		2023		Dec. 31, 2023
Vincent Graziani
2020		2021-2025	1.11		5,000,000	-	-	5,000,000	3,750,000	$ 409
2021		2022-2026	2.14		1,210,400	-	-	1,214,000	605,200	127
2022		2023-2027	1.18		1,210,400	-	-	1,214,000	302,600	35
2023		2024-2028	0.68		-	2,500,000	-	2,500,000	-	-
Total					7,420,800	2,500,000	-	9,902,800	4,657,800	571
John Kurtzweil
2023		2024-2028	0.46		-	500,000	-	500,000	-	-
						-	500,000	-	500,000	-	-
Anthony Eaton
2019		2020-2024	1.65		327,800	-	-	327,800	327,800	53
2020		2021-2025	1.71		1,125,000	-	-	1,125,000	1,125,000	189
2021		2022-2026	2.40		210,300	-	-	210,300	105,150	25
2022		2023-2027	2.08		836,900	-	-	836,900	209,225	49
2022		2023-2027	1.18		210,300	-	-	210,300	52,575	12
2023		2024-2028	0.68		-	630,900	-	630,900	-	-
Total					2,710,300	630,900	-	3,341,200	1,819,750	328
Catharina Eklof
2021		2022-2026	2.38		2,000,000	-	-	2,000,000	1,000,000	234
2022		2023-2027	1.18		210,300	-	-	210,300	52,575	12
2023		2023-2027	0.68		-	630,900	-	630,900	-	-
Total					2,210,300	630,900	-	2,841,200	1,052,575	246
Total executive team				12,341,400	4,261,800	-	16,603,200	7,530,125	$ 1,145

There are no other vesting criteria than the executive remaining an employee or individual contractor to IDEX.

Executive Remuneration - Comparisons

IDEX applies the same basic principles to the executive remuneration as for all the company's employees, benchmarking salaries against the relevant external market for the roles and assessing role complexity and individual performance.

Other than Mr. Graziani's voluntary pay reduction, there were no salary adjustments in 2023 other than those required by statute. Mr. Eaton and Ms. Eklof received salary increases in 2022. There were no salary adjustments in 2021 other than those required by statute. The increase from 2020 to 2021 was a result of a temporary reduction of salaries in March-May 2020.

2023 Executive Remuneration Report									IDEX Biometrics ASA
					Fixed remuneration		Variable remuneration
							Other		Incentive		Share-				Proportion fixed vs
	(USD thousand)	Year		Salary		Benefits1		Pay2		Based3		Total		variable remun.
	CURRENT MEMBERS	2023		360	28	62	108	559	70%	- 30%
	Vincent Graziani, CEO4
			2022		400	26	-	139	565	75%	- 25%
			2021		400	25	44	126	595	72%	- 28%
			2020		312		23		-		120		455		74%	- 26%
	John Kurtzweil, CFO5	2023		55		-		-		1		56		98% - 2%
	Anthony Eaton, CTO	2023		249	24	82	48	403	68%	- 32%
			2022		237	14	-	74	325	77%	- 23%
			2021		254	18	22	60	354	77%	- 23%
			2020		220	14	24	132	390	60%	- 40%
			2019		188		24		23		83		318		67%	- 33%
	Catharina Eklof, CCO6	2023		466	-	72	64	602	77%	- 23%
			2022		398	-	-	114	512	78%	- 22%
			2021		259	-	76	108	442	59%	- 41%
					Fixed remuneration		Variable remuneration
							Other		Incentive		Share-				Proportion fixed vs
	(USD thousand)		Year		Salary		Benefits1		Pay2		Based3		Total		variable remun.
	FORMER MEMBERS
	Stan Swearingen, CEO7	2020		38	4	15	113	170	25%	- 75%
			2019		360	8	216	451	1,035	36%	- 64%
			2018		369		9		0		693		1,071		35%	- 65%
	Hemant Mardia, CEO8	2018		401		0		0		521		922		43%	- 57%
	Eileen Wynne, Interim	2023		141	-	-	-	141	100% - 0%
	CFO9
			2022		37	-	-	-	37	100% - 0%
			2021		32	-	-	-	32	100% - 0%
	James A. Simms, CFO10	2022		290	21	-	(56)	255	122% - (22)%
			2021		211		20		-		180		411		56%	- 44%
	Derek P. D'Antilio, CFO11	2021		100	10	56	-25	141	79%	- 21%
			2020		279	25	18	84	405	75%	- 25%
			2019		123		4		-		31		158		80%	- 20%
	Henrik Knudtzon, CFO12	2019		167	5	91	119	382	45%	- 55%
			2018		246		4		90		214		554		45%	- 55%
	Fred Benkley, CTO13	2019		223	10	26	155	414	56%	- 44%
			2018		227	13	87	188	515	47%	- 53%
	Total	2023		1,271	52	216	221	1,760	75%	- 25%
			2022		1,362	62	-	271	1.695	84%	- 16%
			2021		1,256	73	198	449	1,975	67%	- 33%
			2020		849	66	57	449	1,421	64%	- 36%
			2019		1,061	51	356	839	2,307	48%	- 52%

1 Benefits such as medical and life insurance or pension contribution.

2 Variable pay is reported in the year it is paid, which will be the year following the performance year, when results are known.

3 The reported amount includes the amortised cost in the year under IFRS 2 Share-based payments, for incentive subscription rights, and the ESPP. Both amounts represent an upfront calculation and do not represent any gain from the plans.

4 Mr. Graziani had a voluntary 20% pay reduction from July 2023 through December 2023.

5 Mr. Kurtzweil was appointed CFO in September 2023.

6 Ms. Eklof is an individual contractor on assignment for IDEX as of June 1, 2021. The salary and incentive amounts reported are the gross invoiced amounts which will cover also any employer's taxes and other employer benefits. The 2021 incentive was a sign-on fee.

7 Mr. Swearingen served as CEO from April 2018 to February 2020. 8 Mr. Mardia served as CEO until March 2018.

9 Ms. Wynne was interim CFO from August 2022 to September 2023. Prior to then, she supported IDEX on a consulting basis. Ms. Wynne is an individual contractor. The salary and incentive amounts reported are the gross invoiced amounts which will cover also any employer's taxes and other employer benefits.

10 Mr. Simms served as CFO from April 2021 to August 2022.

11 Mr. D'Antilio served as CFO from July 2019 to April 2021.

12 Mr. Knudtzon stepped down as CFO in July 2019.

13 Mr. Benkley stepped down as CTO in March 2019 where after he continued as Chief Innovation Officer.

IDEX Biometrics ASA

2023 Executive Remuneration Report

KEY FINANCIAL PERFORMANCE FIGURES AND EXECUTIVE PAY RATIO

The table below shows key figures related to financial performance, number of employees and average remuneration for employees for the last five years:

Key Figures	2023		2022		2021		2020		2019
Total Revenue (USD thousand)	$4,131	$4,091	$2,840	$1,095	$424
Net Loss (USD thousand)	$(26,629)	$(32,662)	$(32,552)	$(26,754)	$(32,423)
Number of employees at year end	87	90	95	102	109
Change in salary all employees1	-22%2	-7%3	20%4	-18%5	5%

1. Salary only. Benefits and other elements of compensation is excluded
2. The decrease was the result of a reduction in workforce that occurred in the last half of 2023 and 2022
3. The decrease was the result of a reduction in workforce that occurred in the last half of 2022
4. The increase was a result of customary salary increases as well as 2020 salary expense reflecting a temporary reduction of salaries in that year
5. The decrease was a result of temporary salary reductions in March-May 2020 due to cost containment measures

Average salary measured in USD is influenced by currency rates and different salary levels and increases in the markets in which IDEX Biometrics operates. At the end of 2023, 34% of the group's employees were employed in the US, 38% in the UK, 22% in Norway and 6% in China. Product development employees comprise about 67% of the workforce in the group.

We apply the same basic principles to the Executive remuneration as we do for all our employees, benchmarking salaries against the relevant external market for the role.

The CEO to average employee remuneration ratio for 2019-2023 is shown in the table below. Average remuneration is based on all employee costs, including incentives and benefits.

The Parent Company, IDEX Biometrics ASA, is a small entity, with two local employees at the end of 2023. Remuneration statistics are not disclosed. The table below therefore shows the global IDEX Biometrics group numbers and ratios.

USD thousand	2023		Chg		2022		Chg		2021		Chg		2020		Chg		2019		Chg
CEO, Vincent Graziani1	559	-1%	565	-5%	595	31%	455	-	-	-
CFO, John Kurtzweil2	56	-	-	-	-	-	-	-	-	-
Former Interim CFO, Eileen
Wynne3	141	281%	37	16%	32	-	-	-	-	-
Former CFO, James A. Simms4	-	-38%	255	-38%	411	-	-	-	-	-
Former CFO, Derek P. D'Antilio5	-	-	-	-	141	-65%	405	156%	158	-
CTO, Anthony Eaton6	403	24%	325	-8%	354	-9%	390	23%	318	-
CCO, Catharina Eklof7	602	18%	512	16%	442	-	-	-	-	-
Average total payroll
per employee, excl. all executives	151	-22%	195	-8%	213	28%	166	-11%	187	6%
Ratio CEO over average employee	3.6			2.9			2.8			2.7
Ratio CFO over average employee8	0.4			0.2			1.9
Ratio former CFO over avg. empl.9	0.9			1.3			0.7			2.4			1.0
Ratio CTO over average employee	2.7			1.7			1.7			2.4			1.7
Ratio CCO over average employee	4.0			2.6			2.1

1. There was a change in CEO in 2018 and again in 2020. Mr. Graziani joined IDEX as CEO effective March 2020.
2. There was a change in CFO in 2019, in 2021, 2022 and 2023. Mr. Kurtzweil joined IDEX as CFO in September 2023.
3. Ms. Wynne served IDEX as interim CFO from August 2022 to September 2023. Prior to then Ms. Wynne provided services on a consulting basis. Ms. Wynne is an individual contractor. The reported number is the gross invoiced amounts which will cover also any employer's taxes and other employer benefits.
4. Mr. Simms joined IDEX as CFO in April 2021 and resigned in August 2022.
5. Mr. D'Antilio joined IDEX as CFO in July 2019 and resigned in April 2021.
6. Mr. Eaton has served as CTO since March 2019.
7. Ms. Eklof joined IDEX as CCO in June 2021. Ms. Eklof is an individual contractor. The reported number is the gross invoiced amounts which will cover also any employer's taxes and other employer benefits.

2023 Executive Remuneration Report

IDEX Biometrics ASA

1. The 2021 ratio is Mr. Simms' remuneration as compared to the average employee.
2. The 2023 ratio is Ms.Wynne's remuneration, the 2022 ratio is Mr. Simms' remuneration, and the 2021 ratio is Mr. D'Antilio's remuneration as compared to the average employee.

D&O INSURANCE AND INDEMNIFICATION AGREEMENTS

The board has determined that, in order to attract and retain qualified individuals to the board and executive management, the company will maintain, on an ongoing basis, at its expense, liability insurance to protect directors and officers in the company from certain liabilities.

Upon recommendation from the nomination committee and approval by the general meeting of shareholders, the company has contractually obligated itself to indemnify, and to advance expenses on behalf of, the directors and officers to the fullest extent permitted by applicable Norwegian law so that they will serve or continue to serve the company free from undue concern.

April 24, 2024

The board of directors of IDEX Biometrics ASA

/s/ Lawrence John Ciaccia	/s/ Deborah Davis	/s/ Annika Olsson
Lawrence John Ciaccia	Deborah Davis	Annika Olsson
Chair	Board member	Board member
/s/ Morten Opstad	/s/ Adriana Saitta	/s/ Stephen A. Skaggs
Morten Opstad	Adriana Saitta	Stephen A.Skaggs
Board member	Board member	Board member