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Intrum AB

At the Intrum annual general meeting, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 17 for the following reasons:

Item 17: Resolution regarding guidelines for remuneration and other terms of employment for key executives

Rationale:
Folketrygdfondet’s decision to vote against this item is based on a cumulative assessment of the following elements. Payouts under the long-term incentive plan are based on earnings per share targets alone. Moreover, the company awarded CEO Mikael Ericson a bonus of 82% of base salary, despite remuneration guidelines that set a ceiling of 50% of base salary for such payments.