Siri Beate Hatlen (1957)
Chairperson

Ms. Hatlen holds a MSc (Master of Science) in process engineering from NTNU/NTH and an MBA from INSEAD. She has a background from various management positions within the offshore sector, mainly from Statoil ASA. Ms. Hatlen was previously EVP of Statkraft and CEO of Oslo Universitetssykeshus. Ms. Hatlen has long experience from various Board of Directors, and has among other served as Chairman of the Board of Vinmonopolet and Helse Øst and as Board member of SMEDVIG ASA, PGS ASA, Kongsberggruppen ASA and NTNU.

Number of shares: 0   Number of share options: 0

Arne Smedal (1947)
Vice Chairman

Mr. Smedal was a founding shareholder of the Company has served as a member of the Board of Directors since the Company’s inception in 2001. Mr. Smedal holds an MSc in hydrodynamics from the Norwegian Institute of Technology (NTNU) in Trondheim. Mr. Smedal has previous experience as President and CEO of Navis ASA from 1997 to 2001; Executive Vice President of Hitec ASA from 1996 to 1997; founding shareholder and President of Marine Consulting Group and Advanced Production and Loading (APL) from 1989 to 1996; as well as various positions, incl. Project Manager, VP Marketing and President at Pusnes from 1979 to 1988; and Det Norske Veritas (DNV) from 1974 to 1979. Mr. Smedal has served as Board member of various companies within the shipping and electronics industries.

Number of shares:  482,624          Number of share options:   20,000

Lars Ola Tan Almås (1979)
Board member

Mr. Almås is Associate General Counsel of Teekay Shipping Norway (a part of Teekay Corporation). Mr. Almås joined Teekay’s Shuttle & Offshore Services’ management team in 2008 as Legal Counsel. His responsibilities include inter alia overseeing the legal affairs for the shuttle, FSO and offshore businesses managed out of Teekay’s Stavanger office. Mr. Almas’ experience includes several years in the shipping and offshore industry and he joined Teekay from Gard where he worked in the legal department. Mr. Almås holds a law degree from the University of Oslo. He is a Norwegian citizen.

Number of shares: 0   Number of share options: 0

Peter Lytzen (1957)
Board member

Peter Lytzen is CEO Teekay Petrojarl (a part of Teekay Corporation). He joined Teekay Petrojarl as President and Chief Executive Officer in 2007. Mr. Lytzen’s experience includes over 20 years in the oil and gas industry and he joined Teekay Petrojarl from Maersk Contractors, where he most recently served as Vice President of Production. In that role, he held overall responsibility for Maersk Contractors’ technical tendering, construction and operation of FPSO and other offshore production solutions. He first joined Maersk in 1987 and held progressively responsible positions throughout the organization. Mr. Lytzen holds a BsC in Mechanical Engineering from Danish Technical University. His international experience spans positions in the Far East and Europe. Mr. Lytzen is a Danish citizen residing in Copenhagen, Denmark.

Number of shares: 0  Number of share options: 0

Mari Thjømøe (1962)
Board member

Mrs. Thjømøe holds a Master’s degree in Economy and Business administration (Siviløkonom) from the Norwegian School of Management, is Chartered Financial Analyst (CFA) from the Norwegian School of Economics and Business Administration (NHH) and has completed the Senior Executive Programme at London Business School. Previously Mrs. Thjømøe has held positions as CFO and acting CEO in Norwegian Property ASA (Real Estate, Hotels), CFO in KLP (Life and Pension), SVP in Statoil and various senior positions in Norsk Hydro ASA (Oil and gas, Aluminium and Fertilizers). Mrs. Thjømøe is an independent consultant and Non- Executive Director of Tryg A/S (Insurance), Petoro AS (Oil and Gas), Alladin Oil and Gas ASA, Argentum Fondsinvesteringer AS (Private Equity), SinOceanic Shipping ASA and serves as Chairman of Seilsport Maritimt Forlag AS (Investments).

Number of shares: 7,050                  Number of share options: 0

Kari Berte Daasvatn Bye (1970)
Employee representative of the Board and Senior Process Engineer

Mrs. Bye is newly elected as a member of the Board of Directors. Mrs. Bye holds a Master of Science degree in chemistry from the Norwegian University of Science and Technology (NTNU) in Trondheim from 1997. Mrs. Bye has previous experience from the oil and gas industry, working for Kværner Process Systems (2001 – 2004) and Aker Kværner (1997 – 2001). Mrs. Bye has been working for Kanfa since 2004 and for Sevan Marine since 2007. Mrs. Bye is a Norwegian citizen with residence in Oslo, Norway.

Alf Reidar Sandstad (1975)
Employee representative of the Board and Manager Design and Layout

Mr. Sandstad holds a MSc in Naval Architecture from NTNU/NTH (1997-2002). He has been with Sevan Marine in various positions since 2005. His previous experience is from NTNU, where he took part in establishing Marine and maritime research as one of six strategic areas within NTNU. Prior to this he worked several years within the fish farming industry. Mr. Sandstad is a Norwegian citizen with residence in Arendal, Norway.

Number of shares: 0                         Number of share options: 1,250