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Corporate Governance
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Corporate Governance

KMC Properties complies with the Norwegian Code of Practice for Corporate Governance, last revised on 17 October 2018, available at the Norwegian Corporate Governance Board’s web site. The company’s corporate governance framework is subject to annual reviews and discussions by the Board of Directors.

KMC Properties' annual statements on how the company adheres to the Code of Practice are included in the company's annual reports.

General Meetings

KMC Properties will hold its annual general meeting on 11 May 2023. Relevant documents will be published below in due course.

Documents

Articles of Association

ARTICLES OF ASSOCIATION
FOR
KMC PROPERTIES ASA


(reg.no. 990 727 007)

Last amended on 28 September 2023 (office translation from Norwegian)

§ 1

The company's name is KMC Properties ASA.

§ 2
The company's registered office is in the municipality of Trondheim.
The company may hold general meetings in the municipality of Oslo, Norway.


§ 3
The company's business shall comprise of trading, investment in real estate property and security instruments and other business operations in this relation, including participation in other companies with corresponding business through equity, loan or issuance of guarantees.

§ 4
The company's share capital is NOK 78,825,916, divided between 394,129,580 shares, each with a par value of NOK 0.2. The company's shares shall be registered with the Norwegian Central Securities Depository. The company's shares are freely transferable.

§ 5
The board of directors of the company shall consist of minimum 3 members. The chairperson of the board of directors alone, or two members of the board of directors jointly, shall have authority to sign on behalf of the company. The board of directors may designate procurators.

§ 6
At the annual general meeting, the following issues shall be considered and decided: (i) approval of the annual accounts and annual report, including the distribution of dividends, and (ii) other matters which by law or the articles of association belong to the general meeting.
Shareholders may cast a prior written vote on matters to be considered at general meetings of the company. Such votes can also be cast by electronic communication. The right to vote in advance is conditional on the existence of a reassuring method for authenticating the sender. The board decides whether such a method exists in advance of the individual general meeting. The board may also lay down more detailed guidelines for written advance votes.

§ 7
The nomination committee shall consist of three members. The members shall be elected for a period of two years, unless the general meeting decides a shorter period.
The nomination committee shall prepare proposals to the general meeting in relation to the following:
• The appointment of the members of the board of directors and the chairman of the board of directors.
• The appointment of the members of the nomination committee and the chairman of the nomination committee.
• The remuneration of the board of directors and the nomination committee.
• Any changes in the mandate of the nomination committee or in the articles of association.
The Norwegian Public Limited Liabilities Act paragraphs 6-7 and 6-8 shall apply correspondingly for the members of the nomination committee.

§ 8
When documents pertaining to matters which shall be handled at a general meeting have been made available for the shareholders on the company's website, the documents are not required to be sent to the shareholders. A shareholder may nonetheless demand to be sent documents that shall be dealt with at the general meeting.

§ 9
Each share carries one vote in the general meeting. A shareholder with its shares registered with a custodian in accordance with the Norwegian Public Limited Liabilities Act paragraph 4-10, is entitled to vote coherent with the number of shares registered with the custodian, if the shareholder no later than two days prior to the general meeting presents the company with name, address and a confirmation from the custodian stating that the shareholder is the beneficial owner of the custodian registered shares, provided however that the board of directors does not refuse approval of such beneficial ownership.
Shareholders who wish to participate in the general meeting must give the company notice of this in advance. Such notice must be received by the company no later than two working days prior to the general meeting. The board may, however, before the notice to the general meeting has been sent, set a later deadline for such notice.

§ 10
The chairman of the board of directors shall chair the general meeting, unless the board of directors have appointed another chair.