Equal pay policy

Sahara observes the utmost equality in determining wages and other working conditions. All employees must be paid equal wages and enjoy the same working conditions for work of equal value. Sahara's definition of equal pay is based on laws on equal status and equal rights of the sexes

no. 150/2020.

In Article 6 The Equality Act is defined as follows:

Women, men and people with gender-neutral registration in the national register must be paid equal wages and enjoy the same benefits for the same or equally valuable work. Equal pay means that pay must be determined in the same way for people regardless of gender. The criteria used to determine wages should not include gender discrimination. Employees must always be allowed to explain their salary if they choose to do so.

To implement the equal pay policy, Sahara undertakes to implement, document and maintain an equal pay system in accordance with the requirements of the ÍST 85:2012 standard. Sahara has implemented procedures and defined salary criteria to ensure that employees are paid for their work

based on the value of jobs regardless of gender or other irrelevant considerations.

The executive director is responsible for Sahara's equal pay system and that it complies with laws regarding equal status and equal rights for the sexes.

In order to implement the equal pay policy, Sahara undertakes to:

• Implement, document and maintain an equal pay system based on the equal pay standard ÍST 85:2012 and in accordance with law no. 150/2020 on equal status and equal rights of the sexes

• Conduct a salary analysis at least annually comparing jobs of equal value to ensure that there is no gender pay gap. The main results must be presented to the staff

• Respond to unexplained pay gaps through continuous monitoring and improvement where needed

• Present the equal pay policy to employees and make it available to the public

Approved by the Executive Committee

Reykjavík 22. 03 2022