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Swedbank AB

At the Swedbank AB annual general meeting on 7 May 2020, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against discharging liability under item 10 for the following reasons:

Item 10: Decision whether to discharge the members of the Board of Directors and the CEO from liability

Rationale:

Folketrygdfondet exercises particular caution in voting for a discharge of liability while a company is the subject of serious allegations. Folketrygdfondet therefore voted against a discharge of liability for individuals who were shareholder-elected members of the board or of the executive management team prior to the 2019 AGM.