Proud ownership Aker ASA’s sustainability report 2018 2 Corporate responsibility in Aker ASA 2018 Aker’s corporate responsibility

CR is an integral part of Aker ASA’s (Aker’s) active ownership. This report provides an account of Aker’s role as shareholder in its operational Contents portfolio companies. Aker’s corporate responsibility 2 Integrity 4 Kjell Inge Røkke is an active owner of Aker Norwegian cooperation model also being Zero tolerance for corruption 4 and Chairman of the Board. Through his employed in the international segment of private company The Resource Group, Aker-owned companies. People 5 TRG AS, he owns 68.2% of Aker’s shares. People create Aker 5 Mirroring Røkke’s active role as Aker’s The company’s most important Employees at Aker 6 owner, Aker is an active owner of its stakeholders are share- and bondholders, This is the Aker model 7 portfolio companies, such as Aker BP, investors, analysts, employees, trade The environment 8 Aker Energy, Aker Solutions, Akastor, unions, union representatives, the Taking responsibility for Kvaerner, Aker BioMarine, Ocean Yield, portfolio companies’ managements, the environment 8 Cognite and FP Eiendom. These are banks, financial institutions and the Climate challenges on the agenda 9 operational companies. In this report authorities. Aker wants to engage in they will be referred to as Aker-owned open dialogue and build on transparency Society 10 companies and portfolio companies. to develop trustful relations with all its Creating value for society 10 stakeholders. Giving back 11 The investments are followed up through Aker’s representatives on the Responsible ownership companies’ respective boards and by Aker’s primary task is to further develop Aker’s management. In this work, they are profitable, forward-looking companies The report has been supported by the company’s investment and work places. Responsible and active prepared in accordance team and other key staff. In following up ownership is based on: with section 3-3C of the its investments, Aker takes into account Norwegian Accounting financial, market, ethical, legal, societal §§ The vision of proud ownership. Act and concentrates on and environmental criteria. §§ The core values knowledge-oriented, Aker ASA’s (Aker’s) role as opportunities-oriented, cooperation- owner. This includes the Interacting with society at large oriented and results-oriented. company guidelines, how the Aker was created and has developed §§ The Code of Conduct is the company works on corporate in interaction with Norwegian society. company’s overarching governing responsibility, objectives and Historically, farsighted politicians and document and contains ethical the results it has achieved. authorities have created the necessary guidelines for employees and conditions for a positive model of partners, and principles on worker The portfolio companies Aker cooperation in Norway. Politicians have rights, human rights, anti-corruption, BP, Aker Solutions, Akastor, created the framework conditions societal issues, health, safety and the Kvaerner, Ocean Yield and that have helped Norway do well on environment (HSE) and the external Aker BioMarine publish their international rankings as a transparent environment. The Code document own CR reports. society with high living standards and also expresses Aker’s expectations to quality of life. This groundwork and the portfolio companies’ own Codes position have given Aker and Aker-owned of Conduct. companies the opportunity to recruit top candidates, good engineers, highly skilled In addition, Aker has governing workers and generally attract talent. documents for good ownership management and corporate governance, The Aker-owned companies are risk management and internal control. Norwegian companies founded on top This directs Aker in its actions as a expertise and industries in areas where sustainable and responsible player. Norway is particularly favoured. The The governing documents have been hallmark of all Aker-owned companies adopted by Aker’s Board of Directors. is that they operate in international The board of each portfolio company markets. As owner, Aker is focused on the adopts their own governing documents Corporate responsibility in Aker ASA 2018 3

The four main areas: in accordance with their operational Aker’s value creation – back to society requirements. Stakeholders and and philanthropic objectives. In the first challenges may vary from company to phase, Røkke has decided to give back company. to four main objectives: his own local community, talents that may have a Aker facilitates a forum for sustainability positive impact on the development of and corporate responsibility (CR) Norwegian society and business and INTEGRITY How Aker addresses corruption with key personnel from Aker-owned industry going forward, ocean-related and ethical challenges companies. The objective of the CR challenges and opportunities and rights Forum is to promote discussion and for persons with impairments. learning across the companies. The network currently involves about 20 So far, Røkke has given or committed individuals. Since 2006, Aker has defined to giving several billion kroner to these four priority areas as its most important objectives. PEOPLE to the company’s CR efforts: Integrity, How Aker relates to people, People, the Environment and Society. Aker has taken a role in two of the human rights and employee rights These priorities are based on the UN’s initiatives: Global Compact. A description of the four areas are given on pages 4-10. §§ Running Aker Scholarship, which awards grants to postgraduate Giving back to society studies, including PhDs, at Aker was established by the navy officer internationally recognised THE ENVIRONMENT Peter Steenstrup in 1841. For generations, universities. How Aker deals with environmental and climate-related challenges the sea and nature’s resources have been the basis for Aker-owned businesses. §§ The establishment of the foundation Kjell Inge Røkke has been Aker’s main Stiftelsen VI as a centre for owner since 1996. resources and skills for persons with impairments. Røkke is a member of The Giving Pledge,

SOCIETY committing him to give at least half A more detailed description is available How Aker relates to society through of his fortune – including his share of on pages 11–13. its operations 4 Corporate responsibility in Aker ASA 2018 Integrity: How Aker addresses corruption and ethical challenges

Zero tolerance for corruption

Aker does not tolerate any form of corruption. This applies to all employees of Aker and the portfolio companies.

CHALLENGE: Unethical actions and Solutions, Akastor and Kvaerner have companies Aker BP, Aker Energy, Aker corruption impact negatively on good and appropriate systems and Solutions, Akastor, Kvaerner, Aker society, companies, individuals and procedures for following up their supply BioMarine and Ocean Yield have their markets. Corruption is a serious form of chains and that working conditions own whistleblowing channels. The Audit crime which must be combatted. are in accordance with statutes and Committee in the investment company regulations. Aker is briefed on and involved on Aker’s Code of Conduct and Anti- significant compliance matters and corruption Policy contain principles Whistleblowing channel potential cases that may be in breach of on relevant issues such as bribes, gifts, Aker has an open third-party the company’s anti-corruption policy. services and other forms of corruption. whistleblowing channel on its home All employees at Aker are familiar with page where suspected censurable RESULTS 2018 AND GOALS the Code of Conduct and the Policy. activities such as breaches of HSE rules, In cooperation with Aker Solutions harassment, insider trading, money and Akastor, Aker has developed Aker’s employees are expected to lead laundering, fraud, bribes and kickbacks an e-learning programme on anti- by example, exhibiting good ethics or other violations of ethical guidelines corruption issues. Employees in Aker- and morals — built on Aker’s core can be reported. It is possible to report owned companies have had e-learning values and governing documents. All matters and maintain anonymity in on this topic. This is important Aker employees have been through an relation to Aker and indicate one’s work that builds values and will be e-learning programme on this, and the identity to the third party only. Aker intensified in 2019. industrial portfolio companies update will not at any time retaliate against and revise their respective Codes of persons reporting suspected censurable Aker has a dedicated whistleblowing Conduct in accordance with Aker’s activities. channel. No whistleblowing reports expectations. Aker follows up that the relating directly to Aker were received portfolio companies, as a minimum, Any whistleblowing reports to Aker on in 2018. deliver on Aker’s expectations. Aker matters in its portfolio companies will be reports annually to its Audit Committee addressed via the appropriate channel During the past year, Aker’s employees with key figures showing performance in the company in question, assuming have completed a digital training indicators on familiarity with and that this is considered an appropriate programme on topics related to the knowledge of the content of the Code of and sound manner of proceeding. Aker’s company's Code of Conduct. Conduct. Audit Committee is briefed on how relevant matters are handled. In 2018, Aker launched a project to Aker wants its companies to maintain a ensure that all major Aker-owned high standard throughout their supply Expectations companies have rules that are as chains. This entails certain requirements Aker-owned companies have procedures homogeneous as possible to safeguard as to mapping, qualification, following- for reporting relevant issues to Aker in that sub-suppliers at all times comply up and evaluation of suppliers and the event of situations or matters that with the norms and rules that apply to business partners. Aker’s review shows are – or could be – in breach of the Aker-owned companies. that supplier companies such as Aker anti-corruption policy. The portfolio People: How Aker relates to people, human rights and employee rights Corporate responsibility in Aker ASA 2018 5

from the European Works Council (EWC) to become the Global Works Council (GWC) was signed on 3 May 2018. The work to expand this collaboration has brought results, as can been seen from the creation of a liaison body to promote dialogue between management and employee representatives in India and Malaysia. A similar body had already been established in Brazil previously. Aker’s CEO and top management in its operational companies participate actively in the dialogue with the GWC and two formal GWC conferences were held in 2018. The international GWC delegates emphasise that the international framework agreement is an important tool in corporate responsibility efforts. An evaluation of the framework agreement, in cooperation with the trade union People create Aker IndustriALL, is planned for 2019. Aker has an international framework agreement that governs working Lifestyle and health conditions, which commits and unites Aker and its portfolio companies. Aker wants to provide conditions that enable the company’s own and its portfolio companies’ employees to CHALLENGE: Markets and environment (HSE) work, pay, working safeguard their health and deliver results businesses undergoing change and hours and employment conditions. In through working with others. Across the development must rely on open the agreement, Aker and its industrial companies, employees can participate and trusting cooperation among companies have undertaken to respect in two initiatives: the company health union representatives, employee and support fundamental human rights service Aker Care and the training and representatives and management. Good and trade union rights in the countries in lifestyle portal Aker Active. cooperation models in industry and which the portfolio companies operate. working life are critical to success The applicable principles are laid out in the RESULTS 2018 AND GOALS Universal Declaration of Human Rights, Aker works actively to reduce absence For Aker as owner, the key factor is that the OECD Guidelines for Multinational due to illness to the lowest possible the companies have able, motivated Enterprises and the ILO Declaration on level. At Aker this is known as achieving and healthy employees enjoying good Fundamental Principles and Rights at Work. the highest possible rate of healthiness. and professional working conditions. This helps create a diverse, inclusive and The agreement comprises Aker and its The rate of healthiness at Aker and positive working environment. Aker’s industrial portfolio companies that have Aker-owned companies was 97.1% representatives on the boards of the international operations: Aker Solutions, (corresponding to absence due to illness respective portfolio companies follow up Akastor, Kvaerner and Aker BioMarine. of 2.9%), compared with 97% in 2017. important matters such as competencies, Together with its industrial portfolio Efforts to raise the rate of healthiness professionalism and diversity. companies, Aker shall also deploy its continue. influence to ensure that the companies’ International framework agreement supply chains and customers comply with In 2018, no breaches of the international Aker practices zero tolerance for the principles set out in the agreement. agreement Aker entered into with discrimination, harassment and degrading Fellesforbundet, IndustriALL Global Union, treatment of employees. This is also set out The management and employee NITO and Tekna were reported. The parties in the international framework agreement representatives for technical plan to evaluate the agreement in 2019. with the Norwegian trade unions administrative personnel and skilled Fellesforbundet, IndustriALL Global Union, workers/union representatives in the EU’s new General Data Protection NITO (the Norwegian Society of Engineers respective portfolio companies are Regulation (GDPR) was implemented in and Technologists) and Tekna (the responsible for ongoing follow-up. Aker’s Aker and its portfolio companies in 2018. Norwegian Society of Graduate Technical CEO and group employee representative, and Scientific Professionals). In Aker, there who is also the chairperson of the Global It is important to continue efforts to is room for and a tradition of taking up Works Council, maintain an open and further develop competent organisations. matters or potential issues as part of the direct dialogue. The Aker-owned companies operate in dialogue between union representatives industries that have traditionally been and management. The global works council male-dominated. Aker’s stance is that, Together with its portfolio companies assuming otherwise equal qualifications, The agreement sets out fundamental and union representatives, Aker has an women should be selected for positions workers’ rights and refers to standards international works council. The agreement over men. 17% of the group’s employees governing health, safety and the to expand the international works council are women. 6 Corporate responsibility in Aker ASA 2018 People: How Aker relates to people, human rights and employee rights

2018 Key figures, Aker-owned companies 21 627 NUMBER OF EMPLOYEES 20 798 in 2017 17% SHARE OF WOMEN 17% in 2017 97.1% RATE OF HEALTHINESS CEO Øyvind Eriksen conversing with Aker Scholars. 97.0% in 2017 Employees at Aker

Aker ASA has 39 employees, of which 22 are men and 17 are women, all on permanent contracts. Aker’s management consists of the CEO, the CFO and the Chief Investment Officer.

2018 Key figures, Employees are offered full wages in RESULTS 2018 AND GOALS Aker ASA connection with birth and adoption. A review of the data concludes that Furthermore, the company pays full Aker’s working environment is positive. wages when employees’ children or the This has been documented by means person caring for the children, or other of staff surveys, most recently in 2018. close family members are ill, providing Specialist personnel at Moloklinikken that the national insurance scheme’s have conducted personal interviews criteria for payment of care benefits or with employees to discuss the working 39 NUMBER OF EMPLOYEES attendance allowance are met. Aker’s environment survey. The clinic’s report 37 in 2017 personal insurances cover mandated shows that Aker’s employees consider occupational injuries insurance, as well themselves to be part of an inclusive, as personal accident insurance, group life positive working environment. No insurance, sickness, disability and travel censurable conditions were reported insurance. or uncovered. Aker has an expanded occupational It is Aker’s ambition to maintain a good 44% health service for its staff through its working environment with high levels SHARE OF WOMEN 43% in 2017 contract with Moloklinikken. All Aker of well-being, high rates of healthiness employees have access to a physician, (low levels of absence due to illness) health counselling and medical treatment and highly-skilled and motivated insurance, and are offered an annual employees. medical exam to prevent illness as well as individual follow-up as required. All employees are given a fitness centre membership and membership of the 98.6% RATE OF HEALTHINESS training and lifestyle portal Aker Active. 97.8% in 2017 People: How Aker relates to people, human rights and employee rights Corporate responsibility in Aker ASA 2018 7

The meetings with the union representatives are arenas for open dialogue and discussions on issues such as strategy, development, HSE, ethics, cooperation, the market, capacity adjustments and staffing adaptation.

Aker’s group employee representative Atle Tranøy heads the Global Works Council. This is the Aker model

Aker has a long tradition of cooperation among the main shareholder, management and union representatives, and of conducting an open dialogue with the authorities and social partners. This is referred to as the “Aker model”.

Aker’s group employee representative such as strategy, development, HSE, Atle Tranøy and CEO Øyvind Eriksen ethics, cooperation, the market, capacity stress that Aker’s cooperative culture is adjustments and staffing adaptation. This just as important at the informal level collaboration gives Aker a clear direction as the formal one. In a joint statement, and strong implementation ability. Tranøy and Eriksen say: The employees are in a position to exert “Cooperation and dialogue are based on formal influence on decisions. The union the statutes and agreements governing representatives are represented in the working life, but the day-to-day informal boardrooms of Aker and its portfolio exchanges and interaction built on companies, Aker BP, Aker Solutions, mutual trust, openness and respect play Akastor, Kvaerner and Aker BioMarine. an even greater role. It is by their means Aker’s Board of Directors has five that most matters are resolved and the shareholder-elected representatives foundation is laid for cooperation in – three of whom are women and two respect of development, productivity men. The majority of these directors are and improvement.” independent of Aker and its principal shareholder. In addition, the directors Aker’s CEO also attends annual union include four members elected among the representative conferences organised portfolio companies’ employees, none by Norwegian trade unions. The of whom represent the management. conferences and meetings with the One of the employee representatives is a union representatives are arenas for member of the Audit Committee, which open dialogue and discussions on issues also handles compliance. 8 Corporate responsibility in Aker ASA 2018 The environment: How Aker deals with environmental and climate-related challenges

Aker Solutions’ technology for capturing carbon dioxide has been tested, with good results, for Norcem Brevik, which is owned by HeidelbergCement. Norcem is taking a leading role in the Carbon Capture and Storage field and has a good partnership with Aker Solutions. Norcem Brevik is one of three potential Norwegian plants that could be realised with a full scale solution for CO2 capture. Taking climate and environmental responsibility

Aker encourages its portfolio companies to increase resource efficiency and reduce greenhouse gas emissions.

CHALLENGE: The world is facing As owner, Aker gives particular attention to: Aker’s wholly-owned subsidiary, Aker tremendous climate and environmental BioMarine, has since 2006 worked with challenges. The oil industry is often §§ Reduction in the negative WWF on sustainable harvesting of krill mentioned as an important factor in environmental impact from the in the Antarctic Ocean. The krill and this context. Good solutions are created operations of its portfolio companies. biotechnology company has tailored by means of innovation, centres of §§ Focus on the portfolio companies’ its activities according to the UN’s technology and knowledge, and efforts and solutions to address sustainable development objectives. changing people’s behaviour. environmental and climate challenges. §§ Awareness of environmental Expectations Aker is an investment company with outcomes and consequences. Aker places certain demands and no operating activities, and its direct has expectations as to how the Aker- negative impact on the environment, Approximately 75% of Aker’s investments owned companies handle climate risk apart from work-related travel, is and values are in the oil and gas sector and report relevant information on minimal. In 2018, Aker has prepared – both as the majority owner of Aker climate-related matters. Each company climate accounts. These have been BP and of the oil service technology takes responsibility above and beyond verified by the third party KPMG, the companies Aker Solutions, Akastor and complying with relevant international company’s auditor. Kvaerner. Aker BP’s transactions on the and local statutes and standards with Norwegian Continental Shelf and the a view to minimising its environmental The company’s modern and energy- establishment of the oil company Aker impact. The portfolio companies work to efficient premises, where source Energy with operations in Ghana have minimise their environmental and climate separation is the norm, have low levels boosted Aker’s oil and gas investments impact and are responsible for reducing of emissions. The largest source of CO2 in 2018. their respective negative environmental emissions are Aker’s private planes. The impacts individually. The companies level of emissions therefore naturally Aker believes that oil and gas will publish information on significant and reflects the company’s level of activities. continue to be an important element relevant environmental issues in their In the light of Aker’s operations and in the energy mix for many decades respective CR and sustainability reports. value creation over economic cycles, the to come. The risks associated with oil company’s greenhouse gas emissions are production are an important issue in the Aker BP has defined it targets for CO2 modest. debate going forward. Risk management reduction in accordance with the Paris must be addressed by innovation, with agreement. In 2018, 38.7 per cent of attention being given to safety and Aker BP’s oil production was produced climate challenges. with power from the shore. As owner, The environment: How Aker deals with environmental and climate-related challenges Corporate responsibility in Aker ASA 2018 9

Aker wants its exploration and production companies to act responsibly, abiding by a high HSE standard, and contributing to more environmentally- friendly oil and gas production by reducing production emissions and discharges in their operations, as well as carrying out research and development. The cooperation with the Aker-owned software company Cognite will help promote safer operations for people, the environment and material assets, as well as more sustainable petroleum activities. Aker BioMarine, has since its establishment in 2006, worked with WWF on sustainable harvesting of krill in the In Aker Solutions, Akastor and Kvaerner, Antarctic Ocean. Aker wants the supplier companies to continue to develop and supply products and technologies as part of resolving As the owner of Aker Solutions, Aker In January 2019, Aker BioMarine climate and environmental challenges. has prompted the technology company took delivery of a new vessel for krill Aker’s agenda is to also assist in the to explore commercial opportunities in harvest. This is a more energy-efficient commercialisation of technologies and renewable energy. In 2018, Aker Solutions vessel than previous vessels and solutions that improve oil recovery bought a minority stake in Principle Power will help bring down CO2 emissions in existing fields. Compression and Inc. The company’s wind technology solution, significantly in the harvesting part of pumping technologies and CO2 injection WindFloat, is a floating support structure the production chain. are examples of such efforts. Since for offshore wind power production. 1996, Aker Solutions has been a leading Aker’s CR Forum again had engineering and technology company in Aker is the main shareholder in Ocean environmental and climate challenges the field of handling CO2 challenges in Yield, which charters out ships on long- on its agenda in 2018. The main relation to offshore petroleum activities. term contracts. In its capacity as owner, issue is how Aker and its portfolio The company supplies technology to Aker is focused on ensuring that Ocean companies identify and handle climate a value chain that includes capturing, Yield maintains a modern fleet of low- risk and how this is integrated in the transporting and injecting CO2 in offshore emission ships. company’s business strategy and risk fields, either for permanent storage or management. Efforts continue in 2019. to increase recovery rates. Land-based RESULTS 2018 AND GOALS industry, too, can benefit from CO2- In 2018, Aker again participated in the Taken together, Aker-owned companies capturing technology to reduce emissions. Carbon Disclosure Project (CDP). CDP is are a major player on the Norwegian an international non-profit organisation Continental Shelf as both operator Aker Solutions has over the past few which encourages companies to report and supplier. Aker continues its work years tested its technology and had their impact on the environment and to make the Norwegian Continental good results. Aker is cooperating with natural resources and implement Shelf an international benchmark the Federation of Norwegian Industries measures to reduce this footprint. In for safe and profitable offshore oil to accelerate the decision-making the CDP report, Aker was awarded a D, and gas production that is also as process for full-scale plants. compared with C/Awareness in 2017. environmentally-friendly as possible. Climate challenges on the agenda

Aker is on the board of Norsk Industri (the Federation of Norwegian Industries), the largest association under the umbrella of NHO (the Confederation of Norwegian Enterprises), which works for enhanced value creation and lower greenhouse gas emissions.

COP 21 (the Paris agreement) adopted Aker and its companies have involved Unions) – which includes Fellesforbundet ambitious climate targets to reduce the rise themselves in this effort, and Aker believes (the Norwegian United Federation of in the global average temperature to well that co-ordinating targets and action Trade Unions) and Industri Energi (the below two degrees Celsius compared with plans through industry organisations and Norwegian Union of Industry and Energy the preindustrial era. COP 21 also agreed national associations is important. The road Workers) – and Norges Rederiforbund that global, man-made greenhouse gas map for the Norwegian Continental Shelf (the Norwegian Shipowners' Association). emissions between 2050 and 2100 should has been drawn up by Norsk Industri and Aker BP has defined its climate targets not exceed levels that can be absorbed Norsk Olje og Gass (Norwegian Oil and with a view to meeting the expectations by nature and through carbon capture, Gas), working together in the collaboration enshrined in the Paris agreement for the storage and use. arena KonKraft. Other members include reduction of CO2 by 2030. LO (the Norwegian Confederation of Trade 10 Corporate responsibility in Aker ASA 2018 Society: How Aker relates to society through its operations

By exercising active ownership, Aker takes responsibility for how and where values are created.

Creating value for society

As the owner of its portfolio companies, Aker helps create values for shareholders, employees, customers and society.

CHALLENGE: Profitability and value suppliers, regions and local communities. communities. Most of Aker-owned creation are prerequisites for the As owner, Aker wants to strength the companies operate in the oil and gas creation of forward-looking work companies’ competitiveness, keep industry which is typically cyclical, places and communities of knowledge. core competencies, carry out projects leading to fluctuations in operating This poses certain demands on the according to plan and in line with levels. Difficult down-sizing processes allocation and investment of capital. budgets, continue improvement efforts have at times tried the partnership and win new contracts. The international between the portfolio companies’ Aker invests equity and knowledge in oil service industry is undergoing a management and the employee companies that by virtue of responsible consolidation process; in as far as organisations. The reports Aker has operations deliver long-term, satisfactory transactions have the potential to bolster received indicate that consensus has financial results. By exercising active the industrial foundation for Aker-owned generally been achieved on solutions ownership, Aker takes responsibility for companies, Aker is positive to this. through processes that have been how and where values are created. demanding yet constructive. Expectations Through its stake in Aker Kvaerner Aker expects all its portfolio companies RESULTS 2018 AND GOALS Holding (AKH), Aker has joint ownership to engage in open dialogue with Aker is a driving force in the with the Norwegian government. The all affected parties and partners. development of knowledge-based company owns 40% of the shares in Aker Each company is responsible for industry that creates values for its Solutions, Akastor and Kvaerner. Aker further developing its relations to its shareholders, customers and society. owns 70% of AKH, while the Ministry stakeholders, both locally, nationally and The goal is to achieve long-term of Trade, Industry and Fisheries holds a internationally. value creation through responsible 30% share. The Norwegian government and forward-looking workplaces in its has two directors on the board of AKH. Willingness and ability to adapt are portfolio companies with a required As part of the collaboration, Aker holds decisive for the creation of forward- rate of return of at least 12% per year a meeting with the Ministry every year looking companies. Successful calculated as an average over an on issues associated with corporate change, development and adaptation economic cycle. responsibility and sustainability. to the market is contingent on good cooperation with union representatives Aker's net asset value totalled NOK The oil service companies Aker Solutions, and their organisations. 562 at both the beginning and end of Akastor and Kvaerner undergo continual the year. Including the dividend paid change as a result of oil price fluctuations Aker has a long history of involving in 2018, value growth amounted to 3%. and varying levels of activity. The and including union representatives Aker’s share price, including dividend, resulting capacity adjustments lead to in processes that are likely to impact rose with 19%. The target of minimum knock-on effects for employees, sub- significantly on businesses and local 12% annual rate of return is unchanged. Society: How Aker relates to society through its operations Corporate responsibility in Aker ASA 2018 11

Through “Prosjekt Tilhørighet” (“Project Belonging”), Røkke has over the past 11 years given more than NOK 125 million to teams, associations and organisations that sell season tickets to Molde FK Football club’s arena Aker Stadion, a gift from Røkke. The major contributions are currently associated with REV Ocean to address the challenges in the seas, Aker Scholarship and the Foundation Stiftelsen VI. Giving back

It is the ambition of Aker’s main owner Kjell Inge Røkke to give back at least half of his fortune – including his share of Aker’s value creation – to the community. Aker has taken a role in three of the initiatives: Aker Scholarship, the foundation Stiftelsen VI and the World Ocean Headquarters.

Aker has been a driving force for the 75 talented Aker Scholars development of knowledge-based industry Aker Scholarship awards grants to since 1841 and will help ensure that Aker students who can make a difference to and Aker-owned companies continue to the development of industry and society develop and be work places that attract at large. The grant is awarded by Anne talents. In the autumn of 2018, Aker and Grete Eidsvig and Kjell Inge Røkke’s Aker-owned companies repeated the Charitable Foundation for Education, preceding year’s success, namely the funded by donations from Kjell Inge event “Aker Talent Day” for students Røkke’s private company TRG. Aker at universities and university colleges handles the running of the foundation of applied science. Aker Scholarship is Aker Scholarship, with CEO Øyvind Norway’s largest and most comprehensive Eriksen as Chairman of the Board. private provision for postgraduate studies, including PhDs, at some of the world’s Aker Scholarship gives students the most renowned universities. opportunity to benefit from new impulses, networks and first-rate 12 Corporate responsibility in Aker ASA 2018 Society: How Aker relates to society through its operations

In the autumn of 2018, a new intake of Aker Scholars departed for studies at some of the world’s most renowned universities. This photograph is from the kick-off event outside the premises where Aker was founded in 1841 by the river Akerselva in Oslo.

knowledge. Over the course of three disability suffer from reduced life years, 75 students have received grants, of quality, poorer health and higher levels which 30 were awarded grants in 2018. of isolation than non-disabled persons. The foundation Persons with impairments are also given Stiftelsen VI works Students with abilities, documented fewer opportunities to engage in physical social engagement and personal activity or other interests. to promote equal potential in all academic and knowledge fields are eligible for grants. An academic In Norway, there are 605 000 individuals opportunities to committee evaluates the candidates’ that have an impairment – one in nine perform. academic qualifications. Support is persons. Both the living conditions provided for the full period of study, and survey published by Statistics Norway the scheme is designed to supplement and other studies show that there is a other schemes so that recipients receive large gap in the opportunities afforded full coverage of all costs, including non-disabled persons and persons living accommodation and living expenses, with disability. The foundation Stiftelsen for the duration of their stay. This means VI faces up to and seeks to address this that students can be debt-free after important societal issue. All measures completing their studies. and initiatives aim to develop knowledge and competencies with a view to The foundation Stiftelsen VI addresses benefiting everyone. a societal issue The foundation Stiftelsen VI was Kjell Inge Røkke’s private company TRG established in the autumn of 2018 and finances the foundation’s basic capital works for persons with impairments of NOK 25 million, and also covers all being given the same opportunities to costs associated with the foundation’s perform well as non-disabled persons. administration and operations. Aker and nine Aker-owned companies Persons with impairments are an contribute a further NOK 10 million each important resource. However, it is a to financing measures and activities for fact that many persons suffering from persons with impairments over a five- Society: How Aker relates to society through its operations Corporate responsibility in Aker ASA 2018 13

Kjell Inge Røkke, Aker and Aker-owned companies have opted to lead by example. In 2018 they established the basis for the foundation Stiftelsen VI – a centre for resources and competencies to promote opportunities for and the rights of persons suffering from disability. This photograph is from the launch event in September 2018. From the left: Aida Dahlen, Kristin K. Aasen, Anniken Hauglie, Bjørnar Erikstad, Øyvind Eriksen, Princess Märtha Louise, Knut Nystad, Cato Zahl Pedersen and Marit Bjørgen.

year period, bringing total donations Taking responsibility for the oceans up to NOK 100 million. The first VI The sea and its resources and the companies are Aker, Aker BioMarine, resources in the seabed have formed Aker BP, Aker Energy, Aker Solutions, the basis for industrial development and Akastor, Cognite, FP Eiendom, Kvaerner value creation in Aker-owned businesses and Ocean Yield. New external partners for generations. Aker’s main owner, Kjell are joining the VI project. As at the Inge Røkke, has built his activities on the end of 2018, the programme partners same resources. included the law firm Bahr and the consultancy firm McKinsey. Work is REV Ocean, which is owned by Røkke, ongoing to recruit more VI companies. has commissioned the world’s most The foundation’s first project is being advanced research and expedition carried out in collaboration with the vessel. Røkke’s contribution to society Norwegian Olympic Sports Centre and is to put in place measures to support Confederation of Sports. research that can help resolve the problem of plastic at sea as well as other Together with Norway’s Skiforbund ocean-related challenges. In the autumn (the Norwegian Ski Federation) and of 2018, REV Ocean launched its plans to the Ministry of Culture, the foundation establish the World Ocean Headquarters. Stiftelsen VI has laid the basis for the Aker supports the initiative to create an first winter world championship for international ocean centre. Paralympic skiing sports at Lillehammer in February 2021. The championship has been awarded by the international organisation for Paralympic sports IPC. Tania Goffredo Design. Goffredo Design: Tania companies. portfolio and Akers Images: Ilja Hendel, Erik Norrud, Olympiatoppen

AKER ASA Oksenøyveien 10, NO-1366 Lysaker, Norway Post: P.O Box 243, NO-1326 Lysaker, Norway Telephone: +47 24 13 00 00 E-mail: [email protected] www.akerasa.com