General meeting of Höegh LNG

The Norwegian Code of Practice for Corporate Governance article 7 recommends that the majority of the nomination committee should be independent of the board of directors. Furthermore, if a board member is appointed as a member of the nomination committee, such member should not offer himself or herself for re-election to the board. In Höegh LNG the chairman of the Board of Directors, Morten W. Høegh, is also a member of the Nomination Committee. Re-electing Morten W. Høegh as a member of the nomination committee is thus in conflict with the Norwegian Code of Practice for Corporate Governance; accordingly, Folketrygdfondet voted against item 7.2 on the agenda.