«The ownership shall be exercised with a conscious strategic perspective that continuously builds on the values that have been built up in the company over time.»

The Foundation's ownership policy as a shareholder in Multiconsult ASA

The ownership policy is grounded in the Foundation's objective as stated in its articles of association:

«The Foundation's primary purpose is in every respect to promote the purpose and the development of the Multiconsult companies, to ensure the companies' continuity and increase the employees' influence and well-being.
As part of its primary objective, the Foundation's task is to own shares in Multiconsult and to maintain a significant influence over Multiconsult.»

This includes that the Foundation shall:

a. Exercise active ownership with a long-term and strategic perspective.

The ownership shall be exercised with a conscious strategic perspective that continuously builds on the values that have been built up in the company over time. The ownership shall facilitate a business and customer-oriented corporate culture where competence is the cornerstone for the development of value creation and where the company takes a leading role in selected strategic areas.

Multiconsult's continuity as an independent company shall, as far as possible, be detrimental for the execution of ownership.

b. Maintain an ownership position that entails significant influence.

Maintain an ownership position that entails significant influence. The Foundation will use its available funds to maintain a significant ownership position to actively support Multiconsult's development.

The Foundation will seek active participation in Multiconsult's election committee, primarily through the leadership role. Representation on the company's board of directors shall be sought to the extent that it can further contribute to the company's positive development.

c. Use their ownership position to contribute to long-term and sustainable value creation for the company.

The Foundation shall participate in ensuring that the company at all times has a competent board of directors, which is adapted to the company's situation and that facilitates sound value creation in addition to conscious strategic development over time.

The Foundation expects value creation on par with the best. Moreover, that the company's development is based on continuous development of the company's human resources in a strategic direction that is linked to the market's development and needs. This is what has brought success so far.

d. Promote a broad ownership and commitment among employees.

The Foundation is positive to an employment incentive scheme in Multiconsult, to which the company's employees are offered shares in the company at discounted prices. This helps to retain employees to the company's long-term development and thereby also underpin a culture where managers grow up internally.

The Foundation further assumes that it is through the development and influence of competent employees that results are developed in a knowledge-based company.

The Foundation believes that it is positive for the company's development that managers are shareholders in the company and supports that shares are used as a central element in any performance-driven remuneration for managers.

e. Maintain a sound dialogue with the largest external owners.

As an active, industrial shareholder, the Foundation shall seek to have an open and constructive dialogue with other shareholders on ownership matters. The voting limitation in the company's articles of association is a stabilising factor that will help major shareholders seek consensus on significant ownership matters. With its sizeable ownership stake and its close relationship with the company, the Foundation is prepared to take a central position among the shareholders.

f. Work to further develop Multiconsult's position as a listed company with respect to dividend policy, price development, liquidity in the share and positive reputation in the capital market.

The Foundation must contribute actively to ensure that the company has an appropriate capital structure and predictable dividend policy that results in a correct share pricing and a good liquidity of the shares. The company's capital structure and the size of the equity must be adapted to the company's needs for development.

g. Have an appropriate defense against unwanted acquisitions.

The Foundation acknowledges a true value creation in the company, and that this is reflected in the share price, as essential to avoid unwanted ownership development.

In the case of possible approaches that are in significant conflict with the foundation's objective, the Foundation will, if natural, seek cooperation with other shareholders to find solutions that safeguard the company's development and the Foundation's purpose in a better way. The Foundation will emphasize on factors that appears to be best for the development of the human capital.

h. Constantly develop its role, competence and reputation as an owner in order to exercise an appropriate influence over Multiconsult's development.

The Foundation's ownership policy shall be based on best practice for corporate governance.

The foundation shall maintain a two-year action plan for exercising the foundation's ownership in line with this ownership policy. The plan must contain overarching goals and actions and be updated annually. The foundation's work and results must be assessed each year against the plan and presented in an annual report.

This ownership policy has been updated and adopted by the foundation's board on 01.06.2021