Techstep ASA — Board/Management Information 2016

Oct 28, 2016

Additional proposal from the Nomination Committee to the Extraordinary General Meeting of Techstep ASA to be held on 4 November 2016

Additional proposal from the Nomination Committee to the Extraordinary General Meeting of Techstep ASA to be held on 4 November 2016

The Nomination Committee in Techstep ASA currently consists of

the following members:

- Ketil Skorstad

- Lars Ørving Eriksen

The Nomination Committee recommends the candidates for the Board

of Directors and the candidates for the Nomination Committee,

and makes proposals for the remuneration of the Board of

Directors. In addition to the recommendations published on 13

October the Nomination Committee makes the following proposals

to the Extraordinary General

Meeting:

1. Election of a new Board of Directors

The Nomination Committee proposes the election of the following

additional new members:

- Kristin Hellebust as Board member

- Camilla Magnus as Board member

Kristin is a previous lawyer and is currently member of the

board of the listed companies Bionor Pharma ASA, NEL ASA and

Saga Tankers ASA. Camilla Magnus is a lawyer and currently the

head of Selmers Coporate and Finance department.

Based on the above, and the previous recommendation published on

13 October, the Nomination Committee proposes that the Board

shall have the following composition after the Extraordinary

General Meeting:

- Einar J. Greve, chairman of the Board of Directors

- Kristian Lundkvist, Board member

- Svein Ove Brekke, Board member

- Stein Erik Moe, Board member

- Ingrid Leisner, Board member

- Kristin Hellebust, Board member

- Camilla Magnus, Board member

3. Remuneration of the Board of Directors

The Nomination Committee proposes that the new Board of

Directors are entitled to a remuneration in accordance with the

following:

- Einar J. Greve, Chairman NOK 500,000 per year

- Ingrid Leisner, NOK 250,000 per year

- Svein Ove Brekke, NOK 250,000 per year

- Kristian Lundqvist, NOK 250,000 per year

- Stein Erik Moe, NOK 250,000 per year

- Kristin Hellebust, NOK 250,000 per year

- Camilla Magnus, NOK 250,000 per year

The Nomination Committee recommend that the remuneration will be

paid in advance each quarter.

The Nominating Committee has based its work on remuneration on a

review of comparable companies' remuneration levels for their

Boards of Directors.

The Nominating Committee believes the current level is similar

to that of comparable listed companies in Norway, the Nomination

Committee therefore believes that the proposal represents a

competitive level of remuneration, corresponding to

responsibilities, competence requirements and workload.