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DNB ASA – Changes to the Board of Directors

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On 23 April 2015, the Annual General Meeting approved new Articles of Association, including new requirements to the composition of the Board of Directors in accordance with the new Act on Financial Undertakings. Both the Act and the new Articles of Association are expected to enter into force as of 1 January 2016.

Against this background, the Supervisory Board today re-elected Jarle Bergo as a shareholder-elected board member in DNB ASA, with a term of office of up to two years.

In addition, the Supervisory Board re-elected Sverre Finstad and Carl A. Løvvik as board members elected by the employees and Jørn O. Kvilhaug and Hans-Kristian Sætrum as their deputies, with a term of office until the date the new Articles of Association enter into force.

With effect from the date the new Articles of Association enter into force Vigdis Mathisen and Carl A. Løvvik were re-elected as board members elected by the employees, with Jorunn Løvaas and Stian Samuelsen as their new deputies, all with a term of office of up to two years.

Until the date the new Articles of Association enter into force, the Board of Directors of DNB ASA will be comprised as follows:

Members elected by shareholders:
Anne Carine Tanum, chairman
Tore Olaf Rimmereid, vice-chairman
Jarle Bergo
Jaan Ivar Semlitsch
Berit Svendsen

Members elected by employees:
Sverre Finstad
Carl A. Løvvik
Vigdis Mathisen

Deputies elected by employees:
Jørn O. Kvilhaug
Marianne Haldis Steinsbu
Hans-Kristian Sætrum

With effect from the new Articles of Association enter into force, the Board of Directors of DNB ASA will be comprised as follows:

Shareholder-elected members (term of office up to):
Anne Carine Tanum, chairman (2016)
Tore Olaf Rimmereid, vice-chairman (2016)
Jarle Bergo (2017)
Jaan Ivar Semlitsch (2016)
Berit Svendsen (2016)

Members elected by employees:
Carl A. Løvvik (2017)
Vigdis Mathisen (2017)

Deputies elected by employees:
Jorunn Løvaas (2017)
Stian Samuelsen (2017)

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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