General meeting of DNO ASA

At the general meeting of DNO ASA on 25 May 2023, Folketrygdfondet will vote against Item 9 for the following reasons:

Item 9. Stipulation of the remuneration of board members, the audit committee, the HSE committee and the remuneration committee
The remuneration of the chair of the board reflects the fact that the chair in practice functions as an executive chair of the board. This arrangement is not in line with Folketrygdfondet’s expectations as regards the board’s independence. It follows from NUES Section 8 that executive personnel should not be members of the board. One of the board’s main tasks is to supervise the company’s management. In Folketrygdfondet’s view, in order to ensure adequate supervision of the company’s management, it is a prerequisite that board members are not recruited from among the management. Folketrygdfondet will therefore vote against the proposal.