The Audit Committee shall be a preparatory body related to the Board of Director’s (the "Board") management and supervisory duties concerning external financial reporting, internal control and risk management.

The Audit Committee is appointed by, and reports to, the Board. The Audit Committee supports the Board in the administration and execution of its supervisory responsibilities as set out in a separate charter and which also includes:

(a)   The current provisions of the Public Limited Liability Companies Act, Accounting Act and Norwegian Securities Trading Act;

(b)   Prevailing standards for stock exchange listing on stock exchanges where the Company’s shares are listed;

(c)   Recommendations related to Audit Committees provided in the Norwegian Code of Corporate Governance; and

(d)   External standards and benchmarks for sustainability governance, reporting and performance, as determined under section 4.6.

The current members of the Audit Committee are Anooj Unarket and Maria Borge Andreassen.