The Board of Directors

The Board of Hofseth BioCare includes five members, of which two women, in addition to one deputy board member, which corresponds to the Company’s Articles of the Associations Section 5, stating that the Board should have from three to ten members.

Members of the Board are selected in the light of an evaluation of the Company’s needs for expertise, capacity and balanced decision-making, and with the aim of ensuring that the Board of Directors can operate independently of any special interests and function effectively as a collegiate body.

The majority of the Board of Directors shall be independent of Hofseth BioCare’s management and its main business connections. At least two of the members of the Board shall be independent of the Company’s main shareholder(s). The Board of Directors does not include executive personnel.

Board member Roger Hofseth is the Company’s largest shareholder. Mr. Hofseth is also related to several of the Company’s business connections and is thus not considered independent.

The board members Kjetil Olsen, Bjørn Tunheim and Marit Liland Sandvold are considered independent of management, business connections and the Company’s main shareholders.

Henriette Godø Heggdal is an employee of the company as a Bio Engineer, however, is the shareholder elected representative to the Board of Directors.

The term of office for members of the Board of Directors is two years. An updated overview of the members of the Board of Directors of Hofseth BioCare, including their employment, education and professional background is provided on the Company’s website.