Frontline PLC
At the General Meeting of Frontline PLC on December 8, 2025, Folketrygdfondet will vote against items 10, 11, and 12 for the following reasons:
Items 10 and 11:
The proposal to waive shareholders’ pre-emptive rights is not sufficiently justified. The authorization amounts to approximately 170% of the existing share capital and could potentially lead to significant dilution of current shareholders. Without a clear explanation of the specific purposes for which this authorization will be used, Folketrygdfondet cannot support the proposal.
Item 12:
Folketrygdfondet will vote against the executive remuneration report because the policy does not align with Folketrygdfondet’s expectations. We cannot see that a maximum cap for variable compensation has been specified, and the allocation under the scheme lacks transparency. In addition, options are granted to board members, which is contrary to the NUES recommendation, chapter 11.