DNO ASA

Part Item 5(g) Election of Ferris J. Hussein as a Board Member

Ferris J. Hussein is a member of the company's Nomination Committee. It is Folketrygdfondet's view that he cannot simultaneously serve as a Board member.

The Nomination Committee should be independent of the Board and other senior executives. This is also stipulated in item 7 of the Norwegian Code of Practice for Corporate Governance (NUES). The independence of the Nomination Committee is crucial to ensure that the shareholder community has the necessary confidence in the committee's processes and recommendations. It is fundamental to the committee's work that there is a clear division of roles and responsibilities between the Board and the Nomination Committee.

Item 7. Determination of remuneration for the members of the Board, the Audit Committee, the HSE Committee, and the Compensation Committee

The remuneration for the Chair reflects that the individual effectively functions as an executive Chair. This arrangement does not align with Folketrygdfondet's expectations for the Board's independence. According to item 8 of NUES, senior executives should not be members of the Board. One of the main tasks of the Board is to oversee the company's management. To ensure adequate supervision of the company's management, Folketrygdfondet believes it is essential that Board members are not recruited from the management. Therefore, Folketrygdfondet votes against the proposal.