Corporate Governance

The company has implemented guidelines for corporate governance based on
the recommendations and guidelines given by the Oslo Stock Exchange. The
purpose of these guidelines is to clarify the division of roles between shareholders,
the General Meeting, Board of Directors and day-to-day management
beyond what follows from the legislation.

These principles cover key elements such as:

• Instructions for the Board of Directors and Managing Director
• Company’s core values and ethical standards
• Guidelines for planning and budget work, handling of price-sensitive information and insider trading
• Approval of remuneration to be paid to senior executives
• Guidelines for use of the auditor
• Guidelines for information from the company

The company has decided for the time being not to have a separate nomination committee or
corporate assembly, since the Board of Directors does not see any advantages of this for a company
with Eidesvik’s structure. The corporate governance guidelines do not discuss the dividend policy. In
connection with the stock exchange introduction in the summer of 2005, it was announced that the
company would follow a moderate and predictable dividend policy, taking into consideration the
future investment needs and growth rate.   Coporate GovernanceCorporate Governance