General meeting of Norwegian Air Shuttle ASA

At the general meeting in Norwegian Air Shuttle 25 May 2022, Folketrygdfondet will vote against item 4 for the following reasons:

Item 4: Advisory vote on the report on executive remuneration

The report is based on a program for executive remuneration that authorizes the issuance of up to five percent new shares, with a high maximum limit. Folketrygdfondet is positive towards remuneration programs that are targeted and results-dependent. Incentive programs should be firmly connected to personal and company targets that ensure strong value creation for shareholders over time. For share option plans and other share-based programs, we also expect the Boards to set a maximum threshold for the arrangement and that the scope is not unreasonable.