Expert Corporate Governance Service (ECGS)
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Equinor - AGM 15 May 2019

In general, Equinor is in compliance with the Norwegian regulations relating to the organisation and procedures of the AGM.

ITEMS 8-10 and 19 are proposals made by shareholders. From an environmental perspective, ECGS recommends to vote FOR ITEMS 8, 9 and 10, and does not support ITEM 19.

Under ITEM 12.1, the board of directors seeks approval of the Company's remuneration guidelines. The proposed remuneration structure is not in line with ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE.

Under ITEM 12.2, the board of directors seeks approval of a share-related incentive arrangement. As ECGS is somewhat uncomfortable with the overall level of discretion of the board of directors, it recommends to vote OPPOSE.

ECGS notes that, following approval of the AGM in May 2018, the Company's name was changed from Statoil to Equinor. "Equi" is the starting point for words like equal, equality and equilibrium. "Nor" is signalling a company proud of its origin. The change is a follow up of the strategic development from a focused oil and gas to a broad energy company.

Equinor ASA

Equinor is engaged in oil and gas exploration and production activities. Co. is primarily focused on exploration, development and production of oil and gas on the Norwegian continental shelf (NCS). Co.'s operations are organized into four segments. The Development and Production Norway and Development and Production International segments explore, develop, produce and extract crude oil, natural gas and natural gas liquids. The Marketing, Processing and Renewable Energy segment markets, trades, transports and processes oil and natural gas and renewable energy. The Other segment consists of global well and project delivery, research and develpoment, and business development.


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