Board Committees

The Audit Committee consists of three to four members appointed by and among the Board members. The committee reports to the Board of Directors. The tasks of the committee include the review of accounting, auditing, risk, and control matters, which are dealt with at meetings with the external auditors, the CFO, and the heads of the accounting and internal audit functions. The committee is furthermore tasked with reviewing related party transactions. The committee determines the frequency of its meetings, and it usually meets six to seven times per year. The tasks of the Audit Committee are described in the rules of procedure approved by the Board of Directors and available below. ALL members are independent.

In 2025 the Audit Committee held seven meetings. The attendance rate for the year was 95.2%

In 2019 the Board of Directors established the Nomination Committee. The committee consists of three members, one of whom is the Chair of the Board. The members are elected by and among the Board members and the Board appoints the chair of the committee. The committee assists the Board by establishing an overview of competencies required and represented on the Board and the Executive Board. It reviews the structure, size, composition, succession planning, and diversity of these. The committee further reviews the application of the independence criteria and initiates the recruitment of new candidates, makes an evaluation, and prepares the Board’s recommendation of Board candidates for (re)-election at the general meeting. The tasks of the committee are described in the rules of procedure approved by the Board of Directors and available below.

In 2025 the Nomination Committee held seven meetings. The attendance rate for the year was 100%

The Remuneration Committee consists of three Board members, one of whom is the Chair of the Board. The members are elected by and among the Board members. The committee prepares proposals to the Board of Directors for the remuneration of the members of the Executive Board. The committee further makes proposals to the Board e.g. with regards to the remuneration report, remuneration policies and incentive guidelines, and reviews incentive schemes. The Remuneration Committee shall ensure that the remuneration policy and practices as well as incentive programmes support the strategy of APMM and create value for the shareholders. The committee usually meets four times a year. The tasks of the committee are described in the rules of procedure approved by the Board of Directors and available below. The majority of the members are independent.

In 2025 the Remuneration Committee held seven meetings. The attendance rate for the year was 95,2%

The Energy Transition Committee consists of three to four Board members. The members are elected by and among the Board members. The Committee supports the development of the Company’s strategic direction on Energy Transition related matters in the company’s journey to Net Zero, while securing the most competitive operating margins, acting both as a sparring partner to Management and supporting the Board. The Energy Transition Committee shall ensure oversight of critical and impactful Energy Transition related matters. The Committee’s focus areas are determined by the Board on a yearly basis and are appended to the Rules of Procedure which are available below.

The Energy Transition Committee shall also, when relevant, define internal Energy Transition measures and targets for scorecards, provide an assessment as to the outcome of such indicators at the end of the scorecard period and prepare a recommendation of such as part of the Remuneration Committee’s proposal of scorecards for the Board’s approval.

In 2025 the Energy Transition Committee held three meetings. The attendance rate for the year was 100%