Equal Pay Policy of Omnom hf

Equal Pay Policy of Omnom hf

Omnom hf.'s equal pay policy is an integral part of the wage policy and applies to all employees of the company. The Equal Pay Policy meets relevant criteria for equal pay policies in accordance with Act no. 150/2020. Omnom hf. complies with the provisions of the aforementioned Act on Equal Status and Equal Rights of Gender and sets out objectives and measures to ensure that employees of Omnom hf. have the rights stated in Article 6 of the Act.

Omnom hf. pays wages that take into account the requirements of the job regarding education/knowledge, skills and responsibilities. It is the policy of Omnom hf. that all employees enjoy equal wages and the same terms and rights for the same or work of equal value so that no gender-based wage gap exists within the company. For the definition of wages and terms refer to paragraphs 9 and 10 of Article 2 of the Act and Article 19 of the aforementioned Act. Omnom hf. complies with all applicable laws, rules and collective agreements in force at any given time. Wage decisions shall be transparent, objective and well-reasoned.

To implement the Equal Pay Policy, Omnom hf. is committed to implementing, documenting, and maintaining an equal pay system in accordance with the conditions for equal pay verification pursuant to the Act on Equal Rights and Equal Status of Gender no. 150/2020. Omnom hf. has implemented procedures and defined criteria for determining wages where each person is paid for their work based on its value regardless of gender, gender identity, or other non-objective reasons.

Omnom hf. commits, amongst other things, to:

• Implement, document and maintain an equal pay system that complies with the Act on Equal Status and Equal Rights of Gender no. 150/2020.
• Perform a wage analysis at least annually comparing the same or equally valuable jobs to ascertain whether there is an unexplained gender pay gap.
• Present employees with the results of a wage analysis regarding unexplained gender-based pay gaps.
• Respond to anomalies with continuous improvement and monitoring where necessary.
• Present the Equal Pay Policy to employees and make it accessible to the public.

The Managing Director is responsible for the equal pay system of Omnom hf. and that it complies with legislation regarding equal status and equal rights between the sexes.

Approved on 05.10.2023 by Óskar Þórðarson, Managing Director of the Board of Directors of Omnom hf.