Lundin Energy AB

At the Lundin Energy AB extraordinary general meeting on 16 June 2022, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against items 10, 11(a), and 11(b) for the following reasons:

Item 10: Resolution in respect of Board LTIP 2022
Rationale:

Folketrygdfondet takes the view that board members should not participate in any incentive or share option programs, since this may weaken the board’s independence. Here, the board of Lundin Energy is included in the incentive program designed for executive management, including share option grants.

Item 11(a): Resolution in respect of delivery of shares under the Board LTIP 2022 through an issue and transfer of warrants of series 2022 
Rationale:

We refer to the rationale for item 10.

Item 11(b): Resolution in respect of delivery of shares under the Board LTIP 2022 through an equity swap arrangement with a third party
Rationale:

We refer to the rationale for item 10.


 

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