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Dividends

The Company aims to ensure that shareholder returns reflect the Company’s value creation and will consist of both dividends and a positive share price development. The Company will target a long-term dividend annual pay-out representing approximately 30 – 40% of its net profit on a consolidated basis. Since the Company is in a phase involving considerable investments, there is no plan for dividend payment for the financial year ending 31 December 2013. The Company has a high focus on value creation and will have a dividend policy that will preserve the interest of the Company and its shareholders.

When deciding whether to declare and pay an annual dividend, the Board of Directors will take into consideration market outlook, potential growth opportunities, contract backlog, cash flow generation, capital expenditure plans and funding requirements whilst maintaining adequate financial flexibility. The Board of Directors may revisit the dividend policy from time to time.

Dividends paid

NOK 0.30292 per share paid on 8 April 2014. Proposal and resolution date was 27 February 2014. Record date was 20 March 2014.