CORPORATE GOVERNANCE

As a Norwegian private limited group, Shearwater must comply with the Norwegian Private Limited Liability Companies Act and all other applicable laws and regulations. Shearwater endorses the Norwegian Code of Practice for Corporate Governance which is reflected in the Group’s corporate governance policy.

The policy is designed to establish a basis for good corporate governance to support the achievement of the Group's core objectives on behalf of its shareholders including sustainable profitability. How Shearwater is governed is vital to the value creation over time.

Shearwater believes that good corporate governance involves openness and trustful cooperation between all parties involved in the Group: the shareholders, the Board of Directors and executive management, employees, customers, suppliers, public authorities and the society overall.