Instruksjoner

Classification: Open
The committee may examine all activities and circumstances relating to the operations of the
company in the execution of its tasks. In this regard, the committee may request the chief
executive officer (CEO) or any other employee to provide access to information, facilities,
personnel, and other assistance as required.
The committee is authorised to carry out or initiate such investigations as it deems necessary in
order to carry out its tasks and may use the company’s internal audit or investigation unit, the
external auditor, independent counsel or other external advice and assistance. The cost of such
work shall be covered by the company.
The committee is responsible to the board only for the execution of its tasks. The work of the
committee under no circumstances changes the responsibility of the board and its individual
members.
MEMBERSHIP, COMPETENCE AND INDEPENDENCE
The board elects at least three of its members to serve on the committee and appoints one of
these to act as chair. In addition, the employees’ representatives on the board may nominate one
member to the committee.
The committee shall collectively have the competence which is necessary from the perspective of
the organisation and operation of the company in order to fulfil its tasks. All members shall be
independent, and at least one of the members of the committee shall have qualifications within
accounting or auditing. At least one member shall be an audit committee financial expert, as
defined by the US Securities and Exchange Commission (SEC).
The committee shall comply with the independence requirements in the Norwegian Public Limited
Liability Companies Act, and the applicable SEC requirements. Each member should not have any
affiliations that could, in the opinion of the board, interfere with the exercise of their independent
judgement as a member of the committee.
Continuance of committee members will be reviewed annually by the board. To ensure continuity
within the committee, the appointment of members should be staggered.
SECRETARY
The company’s internal audit department, Corporate Audit (COA), shall provide support to the
committee as the committee deems necessary.
The chief audit executive (CAE) shall act as secretary to the committee. The CAE may report
matters directly to the committee, at their own discretion.
QUORUM
The quorum for the audit committee shall be a majority of the members. A duly convened meeting
of the committee at which a quorum is present shall be competent to exercise all of the authorities,
duties and discretions vested in or exercisable by the committee.