The goal of the Financial Policy and the Capital Allocation Framework is to make clear the Company’s priorities and ambition to create long-term shareholder value.

Financial Policy

• The Company and its financial and liquidity position shall be strong
• The subsidiaries must optimize their own non-recourse financing
• To accelerate growth within the capital-intensive industries, various means of external capital will be considered, incl. but not 
  limited to JVs, Hvitsten AS, public markets and M&As

Capital Allocation Framework

• The Company’s Financial Policy is the foundation for capital allocation
• The Company aims to generate competitive long-term shareholder value through a combination of share appreciation and 
  distributions to shareholders
• To drive share appreciation, the Company will allocate capital to the areas where long-term value creation on a risk-adjusted 
  basis is considered attractive, also considering opportunities outside current ownership holdings
• When considering dividend proposals, the Company’s Board of Directors takes into account the Company’s other capital 
  allocation opportunities and its Financial Policy