Authorizations

The Annual General Meeting on April 12, 2018 resolved on the proposal of the Board of Directors to authorize the Board of Directors to, in one or more transactions, decide on the issuance of shares and the issuance of options and other special rights entitling to shares referred to in chapter 10 section 1 of the Companies Act as follows:

The number of shares to be issued based on the authorization may in total amount to a maximum of 11,150,000 shares, corresponding to approximately 20.0 % of all the shares in the company.

The Board of Directors decides on all the terms and conditions of the issuances of shares, options and other special rights entitling to shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares. The issuance of shares and special rights entitling to shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue).

The authorization cancels the authorization given by the Annual General Meeting on 5 April 2017 to decide on the issuance of shares and special rights entitling to shares.

The authorization is valid until the close of the following Annual General Meeting, however, no longer than until 30 June 2019.

The Extraordinary General Meeting on May 3, 2018 resolved on the proposal of the Board of Directors to authorise the Board of Directors to decide on a share issue according to the pre-emption rights of shareholders.

The authorisation entitles the Board to issue a maximum of 390,410,237 shares. The share issue may be implemented by issuing new shares or transferring shares now in possession of the company.  The Board can use the authorisation in one or more parts. The Board of directors was authorised to decide on any other conditions of the issuance of shares.

The authorisation is valid until 31 December 2018. The authorisation does not revoke any prior authorisations granted to the Board of Directors.