Veidekke

AGM Information • May 7, 2025

Minutes of the 2025 ordinary general meeting of Veidekke ASA

At 17:00 on 7 May 2025, the ordinary general meeting of Veidekke ASA was held in the form of a hybrid meeting. The list of attendees and represented shares was updated prior to the general meeting. In total, 32 shareholders/proxies were in attendance. Overall, 82 649 023 shares were represented, corresponding to 61.24% of the total number of issued shares. A list of attending shareholders and proxies is appended to these minutes.

Board chair Egil Haugsdal and Group CEO Jimmy R. Bengtsson attended the general meeting in person. Auditor Finn Espen Sellæg from EY also attended.

The following matters were dealt with:

1. Opening of the general meeting and election of the meeting chair and two persons to cosign the minutes

The general meeting was opened by board chair Egil Haugsdal, who was unanimously elected to chair the meeting. Group General Counsel John Strand was elected to keep the minutes. Bjørn Skredderberget and Dag Andresen were elected from among the shareholders to co-sign the minutes with the meeting chair.

2. Approval of the notice of meeting and agenda

There were no comments on the notice of meeting or the agenda. The notice of meeting and the agenda were therefore lawfully approved. The meeting chair declared the general meeting lawfully convened.

3. Brief operationai update

Group CEO Jimmy Bengtsson gave a brief update on operationai developments since the last ordinary general meeting.

4. Corporate governance statement

The board chair gave a statement on the work of the board of directors, and otherwise referred to the board's annual report and the company's annual report. The board chair also gave a statement on the work of the remuneration committee, the audit committee and the project committee.

The general meeting noted the statements.

5. Approval of the 2024 annual accounts and annual report of Veidekke ASA and the group, including the distribution of dividends

The board's draft 2024 annual report and annual accounts of Veidekke ASA and the group were reviewed. The annual profit achieved by Veidekke ASA in 2024 amounted to NOK ¹ 295 million.

The board's draft 2024 annual report and annual accounts of Veidekke ASA and the group were approved. A dividend of NOK 9.00 per share in respect of the 2024 financial year was approved, distributable to the company's shareholders as at 7 May 2025.

The following allocation of the annual profit was adopted in accordance with the board's recommendation:

NOK 1,295 million
NOK	80 million
	NOK 1,215 million

6. Election of new auditor

The board proposed PWC and KPMG as possible new auditors for the company. The board recommended the election of KPMG. The general meeting elected KPMG as the company's new auditor.

7. Election of board members

The chair of the nomination committee, Arne Austreid, gave a statement on the work of the committee and presented the recommendation on the election of board members:

• Egil Haugsdal (born 1961)
• Per-lngemar Persson (born 1956)
• Hanne Rønneberg (born 1959)
• Carola Lavén (born 1972)
• Pål Eitrheim (born 1971)
• Nils Morten Bøhler (born 1963)
• Anne-Lene Midseim (born 1968)

Re-election for one year, Re-election for one year, Re-election for one year, Re-election for one year, Re-election for one year, Re-election for one year, Re-election for one year, one year on the board five years on the board five years on the board four years on the board three years on the board two years on the board one year on the board

The general meeting adopted a resolution in accordance with the nomination committee's recommendation.

The nomination committee recommended the election of Egil Haugsdal as board chair.

8. Board remuneration

The chair of the nomination committee, Arne Austreid, presented the nomination committee's proposal on board remuneration:

•	Board chair		NOK 706,000
•		Shareholder-elected members	NOK 358,000
•		Employee-elected members	NOK 358,000
•		Committee chairpersons
	o	Audit committee	NOK 122,000
	o	Project committee	NOK 146,000
	o	Remuneration committee	NOK 79,000
•		Committee members
	o	Audit committee	NOK 86,000
	o	Project committee	NOK 103,000
	o	Remuneration committee	NOK 64,000

The travel costs of board members who live outside Oslo are reimbursed additionally.

Remuneration and compensation are calculated based on a service period of 12 months (7 May 2024 to 7 May 2025).

The general meeting adopted the remuneration proposal.

9. Election of nomination committee members

The chair of the nomination committee, Arne Austreid, presented the nomination committee's recommendation on the new nomination committee.

- Arne Austreid, chair of nomination committee Re-election, three years on the committee

• Erik Must Re-election, 22 years on the committee • Karl Mathisen Re-election, one year on the committee

The general meeting adoptedthe recommendation as proposed.

10. Nomination committee remuneration

Board chair Egil Haugsdal presented the nomination committee's proposal on nomination committee fees:

•	Committee chair	NOK 55,000
•	Committee members	NOK 39,000

The general meeting adopted the remuneration proposal.

11. Executive remuneration statement and executive remuneration report

The board'^s guidelines on the setting of executive pay and other remuneration - see section 6- 16a of the Public Limited Liability Companies Act - were considered.

The general meeting approved the board's guidelines on the setting of executive pay and other remuneration.

The board's executive remuneration report - see section 16-6b of the Public Limited Liability Companies Act - was considered.

The general meeting recommended the board's executive remuneration report.

12. Approval of the auditor's fee

The auditor's fee of NOK 3,864,000 was approved.

• 13. Board authorisation to effect Capital increases in connection with business acquisitions Board chair Egil Haugsdal gave a statement and proposed that the general meeting adopt the following resolution:
  • a) Pursuant to section 10-14 of the Public Limited Liability Companies Act, the board of directors is authorised to increase the company's share Capital in connection with business acquisitions.
  • b) The authorisation shall be capped at NOK 6,500,000, i.e. approximately 10% of Veidekke's share Capital, distributed across 13,000,000 new shares with a nominal value of NOK 0.50 per share.
  • c) The preference right of shareholders in respect of such new shares pursuant to section 10-4 of the Public Limited Liability Companies Act may be set aside.
  • d) The authorisation shall include Capital increases linked to payments taking the form of noncash assets, etc.; see section 10-2 of the Public Limited Liability Companies Act.
  • e) The authorisation shall not include Capital increases linked to mergers pursuant to section 13-5 of the Public Limited Liability Companies Act.

f) The authorisation shall apply until the company's ordinary general meeting in 2026, but under no circumstances beyond 31 May 2026.

The general meeting adopted the proposed resolution.

14. Board authorisation to effect Capital increases in connection with the share programme and option programme for employees

Board chair Egil Haugsdal gave a statement and proposed that the general meeting adopt the following resolution:

• a) Pursuant to section 10-14 of the Public Limited Liability Companies Act, the board of directors is authorised to increase the company's share Capital by up to NOK 1,137,000, i.e. approximately 2% of Veidekke's share Capital, distributed across 2,274,000 new shares with a nominal value of NOK 0.50 per share.
• b) The authorisation shall apply until the company's ordinary general meeting in 2026, but under no circumstances beyond 31 May 2026.
• c) The preference right of shareholders in respect of such new shares pursuant to section 10-4 of the Public Limited Liability Companies Act may be set aside.
• d) The authorisation shall include Capital increases linked to payments taking the form of noncash assets, etc.; see section 10-2 of the Public Limited Liability Companies Act.
• e) The authorisation shall not include Capital increases linked to mergers pursuant to section 13- 5 of the Public Limited Liability Companies Act

The general meeting adopted the proposed resolution.

15. Board authorisation to purchase treasury shares in connection with optimisation of the company's capital structure and as a means of payment in connection with business acquisitions

Board chair Egil Haugsdal gave a statement and proposed that the general meeting adopt the following resolution:

• a) Pursuant to section 9-4 of the Public Limited Liability Companies Act, the board of directors is authorised to acquire treasury shares for subsequent cancellation or use as a means of payment in connection with business and company acquisitions.
• b) The authorisation shall be capped at NOK 6,500,000, i.e. approximately 10% of Veidekke's share capital, distributed across 13,000,000 new shares with a nominal value of NOK 0.50 per share.
• c) The company shall pay no less than NOK 10 and no more than NOK 300 for one share with a nominal value of NOK 0.50.
• d) The board of directors shall be free to decide the means of acquisition and sale.
• e) The authorisation shall apply until the next ordinary general meeting, but under no circumstances beyond 31 May 2026.

The general meeting adopted the proposed resolution.

16. Board authorisation to purchase treasury shares in connection with the share programme and option programme for employees

Board chair Egil Haugsdal gave a statement and proposed that the general meeting adopt the following resolution:

• a) Pursuant to section 9-4 of the Public Limited Liability Companies Act, the board of directors is authorised to acquire treasury shares with a total nominal value of up to NOK 1,137,000, equating to approximately 2% of Veidekke's share Capital.
• b) The company shall pay no less than NOK 10 and no more than NOK 300 for one share with a nominal value of NOK 0.50.
• c) The board of directors shall be free to decide the means of acquisition and sale.
• d) The authorisation shall apply until the next ordinary general meeting, but under no circumstances beyond 31 May 2026.

The general meeting adopted the proposed resolution.

No further matters remained to be considered.

The distribution of votes is shown in Annex 1.

The general meeting was closed.

Egil Haugsdal Bjørn Skredderberget Dag Andresen

Vedlegg ¹ / Appendix 1: Fremmøtte aksjonærer / Shareholders present

Totalt representert /
Attendance Summary Report
Veidekke ASA
Generalforsamling /AGM
7 May 2025
Antall personer deltakende i møtet /	38
Registered Attendees:
Totalt stemmeberettiget aksjer representert	82,649,023
/Total Votes Represented:
Totalt antall kontoer representert /	362
Total Accounts Represented:
Totalt stemmeberettiget aksjer /	134,956,267
Total Voting Capital:
% Totalt representert stemmeberettiget /	61.24%
% Total Voting Capital Represented:
Totalt antall utstede aksjer / Total Capital:	134,956,267
% Totalt representert av aksjekapitalen / % Total Capital	61.24%
Represented:
Selskapets egne aksjer/Company Own Shares:	0

	Sub Total:		34		4	82,649,023
				Registrerte ikke-Stemmeberettigede
		Registrerte Deltakere /		Deltakere / Registered Non-Voting		Registrerte Stemmer Kontoer /
Kapasitet / Capacitv		Registered Attendees		Attendees		/ Registered Votes	Accounts
Aksjonær /Shareholder (web)			31		0	32,249,526	31
Fullmektig / 3rd Party Proxy (web)						200	1
Gjest / Guest (web)			0		4
Forhåndsstemmer /Advance votes			1		0	45,945,947	252
Styrets leder med fullmakt / COB with Proxy			1		0	4,452,150	77
Styrets leder med instruksjoner / COB with instruc			1		0	1,200	1

Kai Bamberg DNB Bank ASA Issuer Services

Vedlegg / Appendix 2: Stemmeoverslkt / Voting overview

Veidekke ASA GENERALFORSAMLING / AGM 07 May 2025

Som registreringsansvarlig for avstemmingen på generalforsamlingen for aksjonærene i selskapet avholdt den 07 May 2025, BEKREFTES HERVED at resultatet av avstemmingen er korrekt angitt som følger:-

/

As scrutineer appointed for the purpose of the Poll taken at the General Meeting of the Members of the Company held on 07 May 2025,¹ HEREBY CERTIFY that the result of the Poll is correctly set out as follows:-

Totalt antall stemmeberettigede aksjer / Issued voting shares: 134,956,267

	STEMMER/	%	STEMMER/	%	STEMMER/	STEMMER	% AV STEMME	IKKE AVGITT
	VOTES		VOTES		VOTES	TOTALT/	BERETTIG KAPITAL	STEMME I MØTET/
	FOR		MOT/		AVSTÅR/	VOTES TOTAL	AVGITT STEMME / %	NO VOTES IN
			AGAINST		WITHHELD		ISSUED VOTING SHARES VOTED	MEETING
2	82,440,735 100.00		0	0.00	1,200	82,441,935	61.09%	207,088
5	82,404,716 100.00		0	0.00	42,197	82,446,913	61.09%	202,110
6	82,416,686	99.98	14,822	0.02	1,342	82,432,850	61.08%	216,173
7.1	80,905,273	98.15	1,526,226	1.85	1,351	82,432,850	61.08%	216,173
7.2	80,946,087	98.20	1,485,402	1.80	1,361	82,432,850	61.08%	216,173
7.3	80,905,090	98.15	1,526,435	1.85	1,325	82,432,850	61.08%	216,173
7.4	80,902,914	98.15	1,528,611	1.85	1,325	82,432,850	61.08%	216,173
7.5	80,160,374	97.24	2,271,115	2.76	1,361	82,432,850	61.08%	216,173
7.6	71,065,527	86.22	11,360,962	13.78	1,361	82,427,850	61.08%	221,173
7,7	80,902,914	98.15	1,528,611	1.85	1,325	82,432,850	61.08%	216,173
8	81,579,708	99.02	810,236	0.98	42,906	82,432,850	61.08%	216,173
9.1	82,431,008 100.00		0	0.00	1,842	82,432,850	61.08%	216,173
9.2	82,430,998 100.00		36	0.00	1,816	82,432,850	61.08%	216,173
9.3	82,430,998 100.00		0	0.00	1,852	82,432,850	61.08%	216,173
10	80,889,908	98.18	1,500,036	1.82	42,906	82,432,850	61.08%	216,173
11	81,328,151	98.73	1,045,923	1.27	53,776	82,427,850	61.08%	221,173
12	82,390,011	99.95	40,997	0.05	1,342	82,432,350	61.08%	216,673
13	82,397,664	99.96	33,486	0.04	1,200	82,432,350	61.08%	216,673
14	82,261,326	99.91	72,998	0.09	98,026	82,432,350	61.08%	216,673
15	82,384,054	99.96	33,436	0.04	14,860	82,432,350	61.08%	216,673
16	82,353,456	99.91	72,348	0.09	6,546	82,432,350	61.08%	216,673

Kai Bamberg DNB Bank ASA Issuer Services

Page: ¹ Date: 7 May 2025 Time: 17.52

Meeting:	Veidekke ASA, AGWI
	07 May 2025
	Attendees	Votes
Aksjonær / Shareholder	31	32,249,726
Gjest / Guest	4
Forhåndsstemmer / Advance votes	1	45,945,947
Styrets leder med fullmakt / COB with Rroxy		4,452,150
Styrets leder med instruksjoner/ COB A/ith in		1,200
Total	38	82,649,023
Aksjonær / Shareholder	31	32,249,726
		Votes	Representinq / Accompanyinq	Votinq Card
AARØE, STEIN OTTAR		47,230	AARØE, STEIN OTTAR
AGEDAL, OVE GARBORG		14,000	AGEDAL, OVE GARBORG
Bengtsson, Jimmy		77,587	Bengtsson, Jimmy
BJERKE, CATHARINA		9,085	BJERKE, CATHARINA
BJØRGEN, STEIN ARNE		33,880	BJØRGEN, STEIN ARNE
Erlandsen, Tom		5,400	Erlandsen, Tom
EUFORIAS		5,000	EUFORIAS
FLØNES, LILLY ANNE		1	FLØNES, LILLYANNE
FROSTAD, TRYGVE		20,940	FROSTAD, TRYGVE
GANGNES, JAN		400	GANGNES, JAN
GRAN, JOCELYN ANTOLIN		10	GRAN, JOCELYN ANTOLIN
GRIMNES, ANDERS ERLING		159,260	GRIMNES, ANDERS ERLING
			GRINDEN, PER KARE
GRINDEN, PER KARE		600	HAUCK, CHRISTINE JOSEPHA
HAUCK, CHRISTINE JOSEPHA		64,632	lf Skadeforsakring AB
lf Skadeforsakring AB		5,041,200	LARSEN, ROLF
LARSEN, ROLF		150	MALIK, MAROUSH IMTIAZ
MALIK, MAROUSH IMTIAZ		70
MOEN, ANDERS HAUGEN		12,646	MOEN, ANDERS HAUGEN
OBOS BBL, Rep. ved Bjørn Skredderberget		26,341,564	OBOS BBL, Rep. ved Bjørn Skredderberget
OPHEIM, KNUT INGE		6,599	OPHEIM, KNUT INGE
Ramsdal, Inge		10,070	Ramsdal, Inge
		200	LAUVASDAL, TORSTEIN
		10,270
SAGBAKKEN, TUVA ØYDIS UTSTRAND		12	SAGBAKKEN, TUVA ØYDIS UTSTRAND
SEKSE, MARI		500	SEKSE, MARI
SENLAND, KRISTIAN		49,003	SENLAND, KRISTIAN
SKATE AS, Rep. ved torstein indrebø		14,063	SKATE AS, Rep. ved torstein indrebø
SMITH, BJØRN EINAR		104,321	SMITH, BJØRN EINAR
SØNSTEBØ, LARS HENRIK		34,192	SØNSTEBØ, LARS HENRIK
STIFTELSEN VEIDEKKEANSATTEES,		71,861	STIFTELSEN VEIDEKKEANSATTEES, Rep. ved Arve Fludal
Rep. ved Arve Fludal
STRAND, JOHN		103,000	STRAND, JOHN
VESTRE, ANE KARI		5,801	VESTRE, ANE KARI
VOLD, OLE CHRISTIAN		16,449	VOLD, OLE CHRISTIAN
Gjest / Guest	4
		Votes	Representinq / Accompanyinq	Votinq Card
Ege, Odd Terje
Hvitås, Ole jonny
Knudsen, Palle
Strandskogen, Trond
Eorhåndsstemmer / Advance yg	1	45,945,947
		Votes	Representinq / Accompanyinq FOLKETRYGDFONDET	Votinq Card
Forhåndsstemmer/Advance votes		14,403,854	MP PENSJON PK	ADV
		2,748,284
		40,000	NYGARDSETER, SVEIN ERIK
		34,000	LØKAS, STEINAR
		5,600	LARSEN, OLE MARKUS
		5,000	HAUGOM, KJETIL
		4,440	NORDTØMME, INGE
		3,000	HASSEL, BJØRN
		2,700	RØNNEBERG, HANNE
		2,395	HONGSETH, KJELL ARNE
		800	MØLLER, MARIUS
		750	KVAM, MICHAEL STELLANDER
		700	MOCK, ALEXANDER

500 200 119 RUUD, DAG ADLER MIKALSEN, JARLE CABUSAO, PAULO

Page: 2 Date: 7 May 2025 Time: 17.52

Forhåndsstemmer/ Advance votes

• 100 FARAH HUSSEIN, ABOKOR ADV
• 56 ØFSTEDAL, ELIN TERESE
• 51 Knutsen, Knut Erik
• 50 VENCKEVICIUS, AUDRIUS
• 36 HALVORSEN, HANS
• 16 TONHEIM, MONICA SEKSE
• 12 REKSTAD, HERMAN
• 10 BANG, ERIK
• 10 HAGENSEN, ALEXANDER
• 9 KULD, TORGEIR LAVOLL
• 5 UDNES, SIMEN BALS
• 3 MOLØKKEN, OLE MARTIN
• 57,278 DNB FUND-NORDIC SMALL CAP
• 17,255 ARROWSTREET INVESTMENT TRUST-ARROWSTREET GLOBAL MINIMUM VOLA 30TH FLOO
  • 10,000 ASBJORN ASBJORN NORDHEIM
  • 31,441 BTFJJS250 NON FLIP ARROWSTREET CLARENDON TRUST
    • 466 CC&LALTERNATIVE GLOBAL EQUITY FUND 1111 WEST GEORGIA STREET
    • 193 CC&L Multi-Strategy Fund 2200-1111 WEST GEORGIA
  • 821 CC&L Q 140/40 FUND 2200-1111
  • 33 CC&L Q EQUITY EXTENSION FUND 2200-1111 WEST GEORGIA ST
  • 23,981 CC&L Q GLOBAL SMALL CAP EQUITY FUND 2300-1111
  • 355 CC&L QMARKETNEUTRAL FUND 2200-1111 WEST GEORGIAST
• 540,155 CONTINENTAL SMALL SERIES
• 40.659 DFA INTERNATIONAL VECTOR EQ PORT
• 54,714 DFA TA WORLD EX US CORE EQ DFAIDG
• 34,634 DFA INT CORE EQ MKT ETF
• 379,003 DFA INT CORE EQTY PORTFOLIO
  • 886 DIMENSIONAL INTERNATIONAL VECTOR EQUITY ETF OF DIMENSIONAL E 6300 BEE
  • 93,452 INT CORE EQ 2 ETF
• 71,019 INTHRPROFETF
• 23,361 INT LARGE CAP GROWTH PT OF DFAIDG
• 23,319 INTSMCOMPETF
• 22,947 INT SOC CORE EQ PORTFOLIO OF DFAIDG
• 19,132 INTL HIGH REL PROF DFA INV
• 47,493 LARGE CAP INTL PORTFOLIO
• 67,324 OWSMX ACADIAN
• 204,657 RBC European Equity Fund 155 WELLINGTON ST. W.
• 951,546 RBC European Mid-Cap Equity Fund 155 WELLINGTON ST.W. 23RD FLOOR 98 TWO SIGMA INTERNATIONAL CORE PORTFOLIO, LLC
• 38,542 WORLD EX US CORE EQ PT OF DFAIDG
• 4,847 JPMorgan Europe Strategic Dividend Fund
• 13,847 ARROWSTREET WORLD SMALL CAP EQUITYALPHA EXTENSION FUND CAYMAN LTD
  • 4,947 EMN ASC FUND, LP
• 33,706 SGA INTERNATIONAL SMALL CAP EQUITY CIT
• 9,194 VANGUARD INVESTMENT SERIES PUBLIC LIMITED COMPANY
• 3,988 ACADIAN GLOBAL EQUITY CIT
• 29 682 ARROWSTREET INVSTMNT TRST-ARROWSTREET GLBL MIN VOLTLIY ESG
• ALPHA EXTEN 1.439 CC&L MULTI-STRATEGY FUND
• 3.439 ACADIAN INTERNATIONAL EQUITY MANAGED VOLATILITY CIT
• 19.659 SEI INSTITUTIONAL MANAGED TRUST GLOBAL MANAGED VOLATILITY FUND
• 15,177 ARROWSTREET GLOBAL MINIMUM-VOLATILITY ESG ALPHA EXTENSION
• 20,111 ARROWSTREET INVESTMENT TRUST ARROWSTREET EAFE ALPHA
• EXTENSION TRUST
• 3,505 TWO SIGMA EQUITY RISK PREMIA PORTFOLIO LLC
• 826 ACADIAN ALL COUNTRY WORLD EX US SMALL-CAP EQUITY CIT
• 2,615 VANGUARD FUNDS PUBLIC LIMITED COMPANY
• 1,880 VANGUARD FUNDS PUBLIC LIMITED COMPANY
• 6,922 SEI INSTITUTIONAL INVESTMENTS TRUST GLOBAL MANAGED VOLATILITY FUND
• 13,712 SEI ACADIAN GLOBAL MANAGED VOLATILITY POOL
• 1,009 CC&L U.S. Q MARKET NEUTRAL ONSHORE FUND II
• 48,789 ARROWSTREET GLOBAL MINIMUM VOLATILITY ESG ALPHA EXTENSION TRUST
• FUND 17,798 AQR DELPHI LONG-SHORT EQUITY MASTER ACCOUNT, L.P.
• 12,454 ARROWSTREET INVESTMENT TRUST-ARROWSTREET CLARENDON TRUST FUND
• 121 SEGALL BRYANT & HAMILL INTERNATIONAL EQUITY FUND
• 1,365 CC&L Q GLOBAL EQUITY MARKET NEUTRAL MASTER FUND LTD.
• 1,299 CC&L Q EMERGING MARKETS EQUITY EXTENSION MASTER FUND LTD.
• 401 CC&L ALL STRATEGIES FUND
• 281 CC&L QMARKETNEUTRAL FUND II
• 7,053 UNISUPER
• 7,552 ACADIAN NON-U.S. SMALL-CAP EQUITY EXTENSION FUND, LLC
• 1,096,278 ALFRED BERG GAMBAK
  • 13,447 TWO SIGMA EQUITY SPECTRUM PORTFOLIO LLC
• 353,443 ALFRED BERG NORGE RESTRICTED

Page: 3 Date: 7 May 2025 Time: 17:52

2,020	AHS INSURANCE COMPANY, LTD. ADV
525,378	VERDIPAPIRFONDET EQUINOR AKSJER NORGE
3,054	WILSHIRE MUTUAL FUNDS, INC. - WILSHIRE INTERNATIONAL EQUITY FUND
889,769	VERDIPAPIRFONDET STOREBRAND INDEKS-NORGE
57,529	AUSTRALIANSUPER
429,858	ALFRED BERG NORGE
460,600	NORDEA NORWEGIAN STARS FUND
16,053	SEB EUROPAFOND
9,395	ROBERT BOSCH GMBH
112959	VANGUARD FIDUCIARY TRUST COMPANY INSTITUTIONAL TOTAL
	INTERNATIONAL STO
228,418	ALFRED BERG AKTIV
345,040	ALFRED BERG INDEKS
17,092	VANGUARD ESG INTERNATIONAL STOCK ETF
373,751	ROBECO CAPITAL GROWTH FUNDS
109	SHELL TRUST (BERMUDA) LIMITED AS TRUSTEE OF THE SHELL INTERNATIONAL PE
15,956	FACTORY MUTUAL INSURANCE COMPANY
20,763	MUNICIPAL EMPLOYEES ANNUITY AND BENEFIT FUND OF CHICAGO
423,554	NORDEA NORWEGIAN PASSIVE FUND
233,763	VERDIPAPIRFONDET STOREBRAND NORGE FOSSILFRI
764 269	VANGUARD FIDUCIARY TRUST COMPANY INSTITUTIONAL TOTAL
3,088	INTERNATIONAL STO FLEXSHARES MORNINGSTAR DEVELOPED MARKETS EX-US FACTOR TILT
	INDEX FUND
2,946	STRATEGIC INTERNATIONAL EQUITY FUND
11,107	NEW YORK STATE COMMON RETIREMENT FUND
12,315	NEW YORK STATE COMMON RETIREMENT FUND
31,835	DELTA MASTER TRUST
3,182	ALLIANZGI-FONDS DSPT
1,780	MINDEROO FOUNDATION LIMITED ATO THE MINDEROO FOUNDATION TRUST
457,155	KOMMUNAL LANDSPENSJONSKASSE GJENSIDIG FORSIKRINGSSELSKAP
32,917	THE WS ACCESS POOL AUTHORISED CONTRACTUAL SCHEME
10,890	MERCER GLOBAL ENHANCED LOW VOLATILITY SHARES FUND
171,449	JPMORGAN INVESTMENT FUNDS
189,150	VERDIPAPIRFONDET STOREBRAND NORGE
1,062,989	VERDIPAPIRFONDET KLP AKSJENORGE AKTIV
1,539	EXELON CORPORATION DEFINED CONTRIBUTION RETIREMENT PLANS
506	MASTER TRUST CC&L Q US EQUITY EXTENSION MASTER FUND LTD.
13,510	MUNICIPAL EMPLOYEES ANNUITY AND BENEFIT FUND OF CHICAGO
8.604	1199SEIU HEALTH CARE EMPLOYEES PENSION FUND
651	SHELL TRUST (BERMUDA) LTD AS TRUSTEE OF THE SHELL OVERSEAS
	CONTRIBUTOR
20,326	ATLANTIC HEALTH SYSTEM, INC.
1,091	CONSTELLATION PENSION MASTER TRUST
1,103	PEPPER L.P.
2 025	THE MEMORIAL HEALTH FOUNDATION, INC. RETIRED EMPLOYEE BENEFIT PLAN AND
84,430	SHRINERS HOSPITALS FOR CHILDREN
7,089	CONNOR CLARK & LUNN COLLECTIVE INVESTMENT TRUST
1,511,406	VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND
1,255	CC&L Q WORLD EX-USA EQUITY EXTENSION MASTER FUND LTD.
2,354	LAZARDA/VILMINGTON ACW EX-US SMALL CAP EQUITY ADVANTAGE FUND
1,180,675	VERDIPAPIRFONDET KLP AKSJENORGE INDEKS
2,556	UTAH STATE RETIREMENT SYSTEMS
18,193	ALTRIA CLIENT SERVICES MASTER RETIREMENT TRUST
1.605	NUNAVUT TRUST
5,917	STICHTING SHELL PENSIOENFONDS
1,100	UTAH STATE RETIREMENT SYSTEMS
5,194	POLICEMEN'S ANNUITY AND BENEFIT FUND OF CHICAGO
9,903	CONSTELLATION DEFINED CONTRIBUTION RETIREMENT PLAN TRUST
1,092,420	VERDIPAPIRFONDET STOREBRAND NORGE INSTITUSJON
2,116	AMERICAN CENTURY ETF TRUST-AVANTIS RESPONSIBLE INTERNATIONAL

Forhåndsstemmer / Advance votes

• EQUITY ET
• 14,653 TWO SIGMA ABSOLUTE RETURN PORTFOLIO, LLC
• 31,179 LAZARD/WILMINGTON EAFE SMALL CAP EQUITY ADVANTAGE FUND
• 137,759 VERDIPAPIRFONDET STOREBRAND AKSJE INNLAND
• 1,460 AMERICAN CENTURY ETF TRUST-AVANTIS INTERNATIONAL EQUITY ETF 118,287 VERDIPAPIRFONDET STOREBRAND VERDI
• 124,391 VERDIPAPIRFONDET DELPHI NORGE
  • 5 563 AMERICAN CENTURY ETF TRUST-AVANTIS INTERNATIONAL SMALL CAP
• EQUITY ETF 10,026 EXELON CORPORATION PENSION MASTER RETIREMENT TRUST
• 4,564 ARROWSTREET WORLD SMALL CAP EQUITY ALPHA EXTENSION FUND (CAYMA
• N) LIMIT 22,880 MARYLAND STATE RETIREMENT + PENSION SYSTEM
• 3,376 ARROWSTREET EAFE ALPHA EXTENSION TRUST FUND
• 2,990 MGI FUNDS PLC
• 6,984 CITY OF NEW YORK GROUP TRUST
• 1,330 TEXAS MUNICIPAL RETIREMENT SYSTEM

		Page: 4 Date: 7 May 2025 Time: 17:52
1,957	STICHTING PHILIPS PENSIOENFONDS	ADV
18,724	CITY OF NEW YORK GROUP TRUST
892 669	AMERICAN CENTURY ICAV AMERICAN CENTURY ETF TRUST - AVANTIS INTERNATIONAL EQUITY FUND
8,264	STATE OF NEW JERSEY COMMON PENSION FUND D
2,176	REGIME DE RENTES DU MOUVEMENT DESJARDINS
7,796	STATE OF ALASKA RETIREMENT AND BENEFITS PLANS
5,847	CITY OF NEW YORK GROUP TRUST
9,286	ARROWSTREET GLOBAL MINIMUM VOLATILITY ESG ALPHA EXTENSION TRUST FUND
3,048	LOS ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION
5,291	GOVERNMENT PENSION INVESTMENT FUND
2.949	BRIGHTHOUSE FUNDS TRUST II - BRIGHTHOUSE/DIMENSIONAL INTERNATIONAL SMA
2,220	NORTH ATLANTIC STATES CARPENTERS GUARANTEED ANNUITY FUND
1,956 6,462	VANGUARD FTSE DEVELOPED EUROPE ALL CAP INDEX ETF ARROWSTREET (CANADA) GLOBAL WORLD SMALL CAP FUND II
3,750	TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS
1,122	CITY OF NEW YORK GROUP TRUST
18,851	SSGA SPDR ETFS EUROPE II PUBLIC LIMITED COMPANY
83,052	CF DIVERSE EQUITY OPPORTUNITIES, LLC
3 517	VANGUARD INVESTMENTS FUNDS ICVC - VANGUARD ESG SCREENED D
5.950	ISHARES INTERNATIONAL SMALL-CAP EQUITY FACTOR ETF
1,500,000	SWEDBANK ROBUR SMABOLAGSFOND NORDEN
9,615	STATE STREET GLOBALADVISORS LUXEMBOURG SICAV
29.550 8,445	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM SPDR PORTFOLIO EUROPE ETF
11,729	MANULIFE INVESTMENT MANAGEMENT SYSTEMATIC INTERNATIONAL
	SMALL CAP CITY OF NEW YORK GROUP TRUST
8,320 944,639	VANGUARD DEVELOPED MARKETS INDEX FUND
22,179	VANGUARD FIDUCIARY TRUST COMPANY DEVELOPED MARKETS INDEX
11,919	TRUST TENNESSEE CONSOLIDATED RETIREMENT SYSTEM
63,125	VANGUARD TOTAL WORLD STOCK INDEX FUND
34,930	MGI FUNDS PLC
19,740	VANGUARD FTSE DEVELOPED ALL CAP EX NORTH AMERICA INDEX ETF
5,088	WASHINGTON STATE INVESTMENT BOARD
3,558	VANGUARD INVESTMENTS FUNDS ICVC-VANGUARD FTSE GLOBAL ALL CAP INDEX FUN
4,060	THE H. HOVNANIAN FAMILY
3,270	THE H. HOVNANIAN FAMILY
4,212 14.550	INTERNATIONAL PAPER COMPANY COMMINGLED INVESTMENT GROUP TRUST COMMISSION DE LA CAISSE COMMUNE
3,960	ACADIAN INTERNATIONAL SMALL CAP EQUITY II FUND LLC
97,940	MERCK AND CO., INC MASTER RETIREMENT TRUST
13,972	CCANDL Q GROUP GLOBAL EQUITY FUND
7	VOSTER, ASBJORN
1,206	CCANDL Q INTERNATIONAL EQUITY FUND
36,884 10,003	ADVANCED SERIES TRUST- AST GLOBAL BOND PORTFOLIO ENSIGN PEAK ADVISORS INC
245,876	VANGUARD EUROPEAN STOCK INDEX FUND
1,896	INVESCO FTSE RAFI DEVELOPED MARKETS EX-U.S. SMALL-MID ETF
346.315	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP INDEX FUND
52,057	CCANDL Q GLOBAL EQUITY FUND
94,350 13,500	WISDOMTREE INTERNATIONAL SMALLCAP DIVIDEND FUND CITY OF MEMPHIS RETIREMENT SYSTEM
13,418	WISDOMTREE DYNAMIC CURRENCY HEDGED INTERNATIONAL EQUITY FUND
34,321	WISDOMTREE EUROPE SMALLCAP DIVIDEND FUND
25,414	WISDOMTREE INTL HIGH DIV FUND 1001812
8,644	ARROWSTREET COLLECTIVE INVESTMENT TRUST
3,108	AZL DFA INTERNATIONAL CORE EQUITY FUND
1,722 24,981	CC&L Q WORLD EX-USA EQUITY EXTENSION MASTER FUND LTD LEGAL AND GENERAL UCITS ETF PLC
5,756	ALASKA PERMANENT FUND CORPORATION
7,138	ACADIAN ALL COUNTRY WORLD EX US FUND
4,349	THE GOLDMAN SACHS FOUNDATION
145.316	ACADIAN INTERNATIONAL SMALL CAP FUND
7,444	COLLEGES OF APPLIED ARTS AND TECHNOLOGY PENSIONPLAN
47,887 12,601	VIRGINIA RETIREMENT SYSTEM TEXAS PERMANENT SCHOOL FUND CORP
4,566	UPS GROUP TRUST
6,674	BOARD OF PENSIONS OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA
879,940	Verdipapirfondet DNB Norge Indeks
3,264,015	Verdipapirfond ODIN Norge
977,134	Verdipapirfondet DNB AM Norske Aksjer

Forhåndsstemmer / Advance votes

• 1,426,204 Verdipapirfondet Holberg Norge
• 4,000 ELLINGBOE, JOHN

Page: 5 Date: 7 May 2025 Time: 17:52 ADV

Forhåndsstemmer / Advance votes

7,395	INVESCO MARKETS PLC
8,021	INVESCO MARKETS PLC
4,465	INVESCO MARKETS PLC
1,162	INVESCO MARKETS PLC
2,963	INVESCO MARKETS PLC
3,778	INVESCO MARKETS PLC
7,304	INVESCO MARKETS PLC
1,292	INVESCO MARKETS PLC
1,317	INVESCO MARKETS PLC
10,825	INVESCO MARKETS PLC
1,282	INVESCO MARKETS PLC
1,419	INVESCO MARKETS PLC
4,273	INVESCO MARKETS PLC
10,214	INVESCO MARKETS PLC
28,973	QUONIAM FUNDS SELECTION SICAV - EUROPEAN EQUITIES
4,463	QUONIAM FUNDS SELECTION SICAV - EQUITIES CLIMATE TRANSITION
1,060,206	ARCTIC FUNDS PLC
24,534	GT INTERNATIONAL EQUITY OP FUND, LP
97,571	ARCTIC FUNDS PLC
809,791	VERDIPAPIRFONDET FIRST VERITAS

_________ 45,945,947

4,452,150

Styrets leder med fullmakt / COI ¹

Styrets leder med fullmakt / COB with Proxy

Votes	Representinq / Accompanyinq	Votinq Card
3,100,000	MUSTINVESTAS	CBP
562,417	Landkreditt Utbytte
214,220	MICHELET, JØRGEN GEORG
90,000	VPF LANDKREDITT NORDEN UTBYTTE
70,000	MUST, ANNELISE ALTENBURG
50,000	MUST, TRINE
50,000	MÆLAND, MARTIN
44,752	THORBJØRNSEN, ANNE
37,290	BERGAN, GUNVOR MARIT
29,595	DREYER, ROGER
25,000	GISKE, ARNE
24,750	JOHANNESSEN, ANNE KARIN BRENNHAUGEN EVENBY, PER IVAR
16,000 15,837	DYRSETH, TOR
15,000	BRIMARAS
10,000	BONDESSON, ANNE CAMILLA HUSE
9,800	MOLDE, JAN GUNNAR
8,546	FLADMARK, TOR ANDRE
7,704	BLOKKUM, GEIR
8,013	SUNDBYE, TOR-ARNE
6,100	HAGEN, PER MAGNAR
6,000	LEIFSEN, TERJE
6,239	UNDSETH, ELLEN
5,000	MUST, ERIK CHRISTIAN
4.500	SLAEN, STEINAR
3,610	VEGGUMSLØKKEN, HAKON ERIK
3,115	BROMANN, MARIT ØSTNES
2,909	BJØRKA, TROND REMI
3,119	HAGEN, MAGNUS RELLING
2,000	ASPNES, MORTEN AURSTAD
1,740	DREYER, GUDRUN KONSTANSE
1,700	EINAR WESTBY AS
1.500	MACQUARRIE, ALASTAIR
1,169	ALEXANDER KRISTOFF LIMITED NUF
1,150	MOEN, NILS KOLBJØRN
1,070	MYHRE, TOR GUNNAR
970	KNABENSCHUH, WALDEMAR GILBERT
970	SÆTHER, VIDAR
1,259	BRÅTEN, SVEIN VIDAR
1,125	INGVALDSEN, KENNETH
881	HØGLI, JØRN OVE
760	STUBBERUD, ANNE MARIE
705	JELSØ, TOR MARTIN
630	KRAGH, ARENT
600	KNUDSEN, CLAES
500	FALLETH, ROLF SVERRE
370	MIKALSEN, HULDA LOVISE
300	LUND, ELLEN REIDUN SÆTHER

300 SOLEM, FRED AAGE

Page: 6

Date: 7 May 2025 Time: 17:52

Styrets leder med fullmakt / COB with Proxy

• WESTBY, EINAR CBp
• HOLT, SIGRID MARGRETE
• Nilsen, Erlend Joakim
• WEHLIN, RONNY
• ALNE, JAN MAGNE
• ENGERHOLM, GEIR YNGVE
• HOLIEN, TORSTEIN
• GRØNHAUG, OLE TOBIAS REINERT
• MAGNUSSEN, SIMEN KILLINGEN
• NÆSS, INGAR
• BJØRNHAUG, TORMOD
• SYVERSTAD, THORBJØRN
• BEDIN, KJELL
• BODAHL, ODD ARILD GODSVEEN
• STUBØ, ERIK
• SKEIE, OVE
• FESSAHAYE, SAMUEL
• VIDVEI, ARNT
• BEKKEVOLD, MAGNAR HELLSTRØM
• KVÆRNE, TONNY
• SOLBAKKEN, RITA JOHANNE
• HAVAAS, TROND ARMAND RYDLAND
• OLSEN, RAGNHILD SYNØVE
• PRISILIA, GRACE
• LANDLØPET, ALEKSANDER HAMRE
• MACK, CHRISTINA KVAREKVAL
• BERGE, VIDAR
• TVEITEN, LASSE BJØRNSRUD

___________4,452,150

Styrets leder med instruksjoner ¹ 1,200

mstructions

Styrets leder med instruksjoner / COB with

Votes Representinq / Accomoanyinq Votinq Card 1,200 STRAALEN, HENDRIK ARIJ CB^|