The shareholder’s supporting statement: Due to growing climate disasters worldwide, I as a grandmother have been worrying for many years about my grandchildren’s future living conditions. I have therefore been a member of BKA for 13 years. This concern is not just related to my own grandchildren, but also the children and grandchildren of all of you present here. Whether you are shareholders, members of Equinor’s board and corporate executive committee, cabinet ministers, or the state’s representative from the Ministry of Trade, Industry and Fisheries, your decisions will determine whether your children and grandchildren can also have a livable future. According to UN Secretary General Antonio Guterres we must stop all exploration for more oil and gas in order to reach the goals of the Paris agreement. He maintains that the failure of world leaders to address climate change must be regarded as criminal. The International Energy Agency (IEA) has also stated for several years that there is no room for any new oil and gas fields if we are to avoid the worst consequences of climate change. In spite of this, the government has this year opened bidding for 47 new exploration areas and submitted another 92 areas for consultation, most of them in the vulnerable Barents Sea. Common to all of them is a long distance to existing infrastructure. In the event of a discovery, the development will be expensive and there will be no revenues until in the 2040s. Moreover, the oil activity in the Barents Sea has been a failure for Norway, both in terms of discoveries and economy. The Office of the Auditor General has also pointed out that oil spill preparedness in the Barents Sea is inadequate. On 30 March, Minister of Trade and Industry, Jan Christian Vestre, stated at the conference ”The Bridge to the Future” that the Government will invest heavily in renewable energy and green industry. We in BKA find this is very positive. But the Minister did not problematize the fact that the oil industry is draining the country of most of our skilled labour. New green businesses are unable to find qualified workers. Equinor must therefore step down its oil-related activities and instead become a leading player in the production of renewable energy and the development of new, green industry

Equinor plans to greenwash production by electrifying oil platforms to reduce Norwegian greenhouse gas emissions. Unfortunately, it does not help when Norwegian oil and gas are combusted abroad. The plans for electrification of Melkøya represent one such project, powering the plant from shore. This will result in major encroachments on untouched nature and Sami areas, in addition to a severe shortage of electric power for households and businesses in Northern Norway. Instead, the possibilities for carbon capture and storage must be explored. Here Norway can become a leading nation. Article 112 of the Norwegian Constitution is both a human rights clause and an environmental clause. Although Young Friends of the Earth Norway and Greenpeace lost the climate lawsuit in the Supreme Court, the verdict contains clear guidelines that concern the Norwegian oil industry. The Norwegian National Human Rights Institution (NIM) understands the ruling to mean that future production licences for oil and gas must be balanced against the impact these will have on our ability to reach the 1.5-degree target. Equinor must therefore present a step-down plan for oil and gas production, enabling Norway to become net-zero by 2050, as we have committed to. For the Grandparents’ Climate Campaign Bente Marie Bakke (sign.) Member of the National Executive Committee Former group leader for the Green Party in the local council of Vestby Former Member of Parliament for the Conservative Party (1981-89)