Gjensidige Forsikring

The role of administrative, management and supervisory bodies The Risk Committee, the Audit Committee and the Organisation and Remuneration Committee consist of members of the Board. The Chair of the Board has broad expertise of sustainable development from several sectors, and has completed several courses and certifications in sustainability. Several members of the board have completed Gjensidige's sustainability course in 2022 and 2023. Many of the board members have also completed other courses and have experience of sustainability work through directorships in other companies. We believe that the board has sufficient sustainability competencies. THE NOMINATION COMMITTEE Responsible for ensuring that the board has the necessary expertise and experience THE BOARD Adopts sustainability goals and strategy (management responsibility), and follows up the status of measures and their effect (supervisory responsibility), and is responsible for everything that is dealt with in the subcommittees. THE RISK COMMITTEE Reviews proposals for sustainability targets, discusses identified influences, risks and opportunities, and ensures that risk appetite includes sustainability topics and risk exposure. THE AUDIT COMMITTEE Reviews quarterly sustainability report, internal control over non-financial reporting, sets materiality threshold and reviews the double materiality analysis. The committee determines the process for processing the annual report, including the sustainability report, and pre-processes the report for decision by the board. THE ORGANISATION AND REMUNERATION COMMITTEE Prepares the scorecard for the CEO, where the operationalization of several sustainability topics occurs and is measured. The Committee shall provide advice on matters relating to remuneration, and annually discuss with the CEO principles and specific frameworks for determining the remuneration of other senior executives. CEO Responsible for delivering on the goals set by the board, and setting sustainability goals downwards in the organization through the scorecards of the executive vice presidents EVPS AND MANAGING DIRECTORS OF SUBSIDIARIES Executive vice presidents and executives of subsidiaries implements sub-goals and action plans to deliver on the sustainability goals. Board members: 10 Executive board members: 3 Non-executive board members: 7 Employee representatives on the Board: 3 Nationalities represented on the Board: 2 Gender distribution on the Board (men/women): 50/50 Independent board members, non-executive: 100%

Strategy, business model and value chain Gjensidige creates value by carrying risk for customers and compensating losses that arise. One of our core competencies is thus assessing risk. Throughout our history, it has been natural for us to focus on preventing damage, and we advise customers and society at large on how to avoid or limit losses. Our business is conducted within the framework of our strategy, our ethical principles and strict compliance with laws and regulations in the countries in which we operate. We mainly perform all core processes ourselves. Sustainability is integrated into the strategy and our core processes. Our business model can be described through the following five core processes, in line with the UN Principles for Sustainable Insurance (UN PSI): RISK ASSESSMENT AND MANAGEMENT We need to understand the risk we take on and set the right price to cover future compensation for losses that may and will occur. We must also have sufficient capital to meet our obligations. Risk assessment is therefore a core competence in general insurance. We use this expertise to advise customers and society at large on damage prevention. PRODUCTS AND SERVICES We develop and offer insurance that covers customers' need for peace of mind, and develop related services for, among other things, damage prevention and claims processing. We generally distinguish between property and liability insurance, often called general insurance, and accident and health insurance. Property insurance compensates the financial loss the customer suffers if an insured object is damaged or lost. Compensation involves either repairing or replacing the damaged object with a similar object, or by the customer receiving a payment. Liability insurance compensates third parties for damage caused by the customer. The largest product groups in the property and liability category are motor vehicle and property insurance. Accident and health insurance compensates the customer's or next of kin's financial loss in the event of accidents, illness or death. Examples of such insurance include life insurance, disability insurance and medical treatment insurance. DISTRIBUTION AND SALES Our customer service centres account for most of our distribution, but we also sell insurance through partners, agents and brokers. All our sales representatives and advisers are well trained and certified in accordance with industry standards. We have an established culture of deep customer orientation and seek to foster long-term customer relationships. CLAIMS HANDLING Our customers shall receive the correct claims settlement as soon as possible after a loss has occurred. We increasingly use automated processes to achieve quick and precise settlements, while our experienced and competent claims handlers process complex cases. We keep accounts of GHG emissions from claims handling and work systematically on circular solutions to reduce emissions. RESPONSIBLE INVESTMENTS We manage substantial capital assets to ensure that we are able to meet our obligations to customers and other stakeholders at all times. The capital is managed with low risk exposure and with as high a return as the risk profile allows. We comply with internationally recognised principles for responsible investments, and have adopted a target of net zero emissions for the portfolios by 2050. Our corporate strategy follows from our mission to 'safeguard life, health and assets'. We have been doing that for more than 200 years, based on our vision to 'know the customer best and care the most'. Our overarching ambition is to be a leading general insurance company in the Nordic region. We will achieve this through continued profitable growth driven by three strategic focus areas: • Strong customer orientation throughout the value chain • Being the best at general insurance • Being an attractive alliance partner in larger ecosystems