SKAGEN’s vote at Aveng AGM

Date: 02/12/15

SKAGEN voted against one proposal at the annual general meeting in Aveng on the 27. October 2015.

At the meeting SKAGEN voted, on behalf of SKAGEN Kon-Tiki which is a shareholder in the company, against one proposal related to a long term incentive plan for management. The reason is that we believe the plan equal to up to 5 percent of shares outstanding is too generous, that the performance criteria are not ambitious enough and that the link to only headline EPS might be a too narrow of a measure for overall performance.

SKAGEN held 20.7 million shares at the time of the meeting. This was equal to 4.98 percent of the company.

Date: 02/12/15

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