Investor Presentaiton

Our dividend policy NOK billions 2.0 Operating cash flow growth of 15% CAGR 15% Dividend 1.5 payout 1.0 Solid operating cash flow 1.8 1.7 1.3 0.5 1.0 1.0 40-60% Moderated capital needs in core 0.0 0.1 of EPS -0.5 -0.7 -0.6 -0.5 -0.5 -0.5 -0.4 -0.4 -1.0 -1.5 2017 2018 2019 2020 2021 Cash Flow from Operations Capex Divestures/Acquisitions

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