Sissener AS - Remuneration Policy

Sissener AS has a remuneration scheme for the company's employees which has been approved by the company's Board of Directors. The composition of fixed and variable remuneration shall be balanced, and the fixed part of the employee remuneration shall be sufficiently high in order for Sissener AS to fail to pay the variable part of the remuneration.

The company's employees receive a fixed salary which must be based on the individual's background and position. Sissener AS's salary policy is to offer competitive terms without being a wage leader.

Sissener AS also has variable remuneration for permanent employees. The purpose of the variable remuneration is to motivate good results and profitability both for customers and for the company in the short and long term. Board members receive fixed remuneration.

The variable remuneration is granted to the extent that the Company's financial position and results allow, in that a specified part of the company's profit is distributed at its discretion among employees. It is an absolute prerequisite for determining the bonus that the Company's risk-adjusted results in the two previous years are not considered to be an obstacle for the remuneration payout. In addition, variable remuneration is determined on the basis of an assessment of the employee's contribution to the company, the employee's responsibility, and attitude to Sissener AS's values.

Half of the variable remuneration to all senior executives, portfolio managers and employees with control tasks is withheld and paid out gradually over a three-year period. The retained share can be reduced if the profit in the company indicates this. Payment of the variable compensation presupposes, as a general rule, that the person entitled to the bonus is still employed by the company.

In order to take part in the remuneration process all employees are evaluated through an annual self-assessment Scorecard model. In accordance with Sustainable Finance Disclosure Regulation, employees that are part of the Investment Team, i.e. Analysts and Portfolio Managers, that take part in the investment decision process, will be further assessed and evaluated on sustainability risk and its relation to the investment decisions. Analysts and Portfolio Managers are then assessed in relations to our internal ESG Investment Policy (available on the website under ESG). Parameters that are included in the scorecard with the purpose to track and reduce sustainability risks are for instance; compliance to our ESG Investment Policy and contribution to the development of our ESG working models.