Orkla ASA - The proposal from the elective committee

Harald Arnkværn, Tore Lindholt, Allan Åkerstedt and Elisabeth Grieg have acted as representatives for the shareholders in the elective committee of Orkla ASA.

Additionally, Harald Johansen has represented the employees in the proposal for chairman.

All members of the Board of Directors except Kjell Almskog are to be elected. According to the Statutes §10 cf. §4 third subsection, up to seven members of the Board of Directors are to be elected by the shareholders' representatives in the Corporate Assembly.

The elective committee proposes the re-election of
Christen Sveaas - for two years
Svein Jacobsen - for two years
Frode Alhaug - for one year
Bjørn Savén - for one year

The elective committee proposes the following as new members of the Board:
Tom Ruud - for two years
Åse Aulie Michelet - for two years

After such an election the members of the Board elected by the shareholders will be: Kjell Almskog, Christen Sveaas, Svein Jacobsen, Frode Alhaug, Bjørn Savén, Tom Ruud, Åse Aulie Michelet

According to the Statutes §10, the chairman of the Board is to be elected by the Corporate Assembly.

The elective committee - including Harald Johansen as representative for the employees - proposes that Tom Ruud be the new chairman.

All proposals are unanimous.

The Corporate Assembly elects the Board of Directors on Thursday 23 August.