Equinor ASA: Minutes from the Annual General Meeting 2024

May 14, 2024

On 14 May 2024, the annual general meeting in Equinor ASA (OSE: EQNR, NYSE: EQNR) approved the annual report and accounts for Equinor ASA and the Equinor group for 2023, as proposed by the board of directors.

Further, the annual general meeting approved an ordinary dividend of US dollar (USD) 0.35 per share and an extraordinary dividend of USD 0.35 to be distributed for the fourth quarter of 2023.

The fourth quarter 2023 dividend accrues to the shareholders as registered in Equinor’s shareholder register with the Norwegian Central Securities Depository (VPS) as of expiry of 16 May 2024. Subject to ordinary settlement in VPS, this implies that the right to dividend accrues to shareholders as of 14 May 2024. The shares will be traded ex-dividend on the Oslo Stock Exchange (Oslo Børs) from and including 15 May 2024. Same dates will also apply for the dividend under the US ADR (American Depository Receipts) program. Shareholders whose shares trade on Oslo Børs will receive their dividend in Norwegian kroner (NOK). The NOK dividend will be communicated on 24 May 2024. The payment date for the dividend in NOK and in USD under the ADR program is 28 May 2024.

The general meeting authorised the board of directors to resolve dividend payments based on the company’s approved annual accounts for 2023. The authorisation is valid until the next annual general meeting, but no later than 30 June 2025.

Eight proposals from shareholders were up for voting. The shareholders’ supporting statements and the board of directors’ responses are available at www.equinor.com/agm. None of the shareholder proposals were adopted. Details are included in the attached minutes.

The general meeting endorsed the board’s report on Corporate Governance and the board of directors’ 2023 Remuneration report.

Remuneration to the company’s external auditor for 2023 was approved.

The general meeting adopted the nomination committee’s recommendation on election of members to the corporate assembly and the nomination committee, effective as from 15 May 2024 and until the annual general meeting in 2026. See attached minutes for details on elected members.

In accordance with the proposal from the nomination committee, the general meeting adopted the remuneration to the corporate assembly and to the nomination committee, effective from 15 May 2024.

The general meeting authorised the board of directors on behalf of the company to acquire Equinor shares in the market to continue the company’s share-based incentive plans for employees. The authorisation is valid until 30 June 2025. The previous authorisation, granted by the annual general meeting 10 May 2023, shall remain valid until the new authorisation is registered in the company register.

As part of the company’s share buyback programme, the general meeting approved a reduction in capital through the cancellation of own shares and the redemption of shares belonging to the Norwegian State.

To enable Equinor’s board of directors to utilise the share buyback mechanism permitted by the Norwegian Public Limited Liability Companies Act with respect to the distribution of capital to the company’s shareholders, the general meeting authorised the board of directors on behalf of the company to acquire Equinor shares in the market. It is a precondition that the repurchased shares are subsequently cancelled through a resolution by a new general meeting to reduce the company’s share capital. The authorisation is valid until the next annual general meeting, but no later than 30 June 2025.

Minutes of the AGM is enclosed.

Contact persons:

Investor relations:
Bård Glad Pedersen, senior vice president,
+47 918 01 791

Media relations:
Sissel Rinde, vice president,
+47 412 60 584

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

Attachment

Minutes from Annual General Meeting in Equinor ASA 14 May 2024

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