ELEKTROIMPORTØREN AS
Org. no. 913 250 524

§ 1
The company's name is Elektroimportøren AS.

§ 2
The company's business office is in the municipality of Oslo.

§ 3
The company's purpose is to make investments through equity and loan transactions, and to act as a holding company, as well as everything related to this.

§ 4
The company's share capital is NOK 2,539,110 divided into 50,782,200 shares, each with a nominal value of NOK 0.05.
The company's shares shall be registered in a securities register.

§ 5
Acquisition of shares is not subject to the company's consent. The Norwegian Companies Act's rules on pre-emption rights, cf. Sections 4-19 - 4-23 of the Act, do not apply to shares that change ownership.

§ 6
The company's board of directors shall consist of at least 3 shareholder-elected board members.

§ 7
The company's company signature right shall be held by two board members acting jointly.

§ 8
The annual general meeting shall consider and decide:

1. Approval of the annual accounts and the annual report.
2. Utilisation of profits or coverage of deficits in accordance with the adopted balance sheet, and distribution of dividends.
3. Other matters that according to the law or the Articles of Association are the responsibility of the general meeting.

When documents relating to matters to be considered at general meetings of the company are made available to the shareholders on the company's website, the board of directors may decide that the documents shall not be sent to the shareholders. This also applies to documents that by law must be included in or attached to notices of general meetings. A shareholder may demand to receive documents relating to matters to be considered at the general meeting. The company may not charge any form of remuneration for sending documents to the shareholders.

Shareholders may cast advance votes in writing on matters to be considered at general meetings of the company. Such votes may also be cast by electronic communication. The right to cast advance votes is subject to the existence of a satisfactory method for authentication of the sender. The Board of Directors determines whether such a method exists prior to each general meeting. The Board of Directors may establish further guidelines for written advance votes. It shall be stated in the the notice convening the general meeting whether advance voting is permitted and what guidelines, if any, have been established for such voting.

§ 9
Nomination Committee

The company shall have a Nomination Committee consisting of at least two members. The members of the nomination committee, including the chair, shall be elected by the general meeting. The term of office is two years unless the general meeting has determined a shorter period. The members of the Nomination Committee may be re-elected. A majority of the members of the Nomination Committee shall be independent of the board of directors and the company's management. The CEO and other members of the company's management may not be members of the Nomination Committee. The chair of the Board and the CEO shall be given the opportunity to attend at least one meeting of the Nomination Committee annually.

The Nomination Committee shall submit proposals to the General Meeting regarding the election of the chair of the Board of Directors and shareholder-elected members, as well as remuneration to the members of the Board of Directors. The Nomination Committee shall justify its proposals.

In its work, the Nomination Committee shall comply with the Norwegian Code of Practice for Corporate Governance. The general meeting may establish further guidelines for the work of the Nomination Committee.

§ 10
Otherwise, the company legislation in force at any given time shall apply.