KLP's ownership principles

14.08.2009

The purpose of our ownership principles is to signal to our stakeholders and the market who we are and what we stand for as an owner and investor.

1. We shall be a responsible financial investor and owner, taking account of social and environmental factors [“som sosiale og miljømessige hensyn”??]and aiming to achieve the best possible return over time, having regard for appropriate risk.
2. We may be represented in corporate governance bodies but shall not be represented on the boards of directors of stock exchange listed companies.
3. We can co-operate with other investors and organisations when appropriate.
4. We shall act in a careful and predictable way, and be conscious of the responsibility for negative consequences that may result from shareholders appearing passive.
5. We shall behave in a way that preserves long-term value creation for owners, customers and fellow shareholders, and contribute to sustainable development.
6. We shall act in line with the Company's values: open, clear, responsible and committed.

Our role as investor, owner and administrator of future pension funds is anchored in our vision and our values. In being the best partner for the days to come, the long-term view must be central to what we do. In addition we shall be an open, clear, responsible and committed player. These principles shall ensure that we act responsibly in regard to our fundamental values and that we take care of our financial interests through exercising ownership well.