The Board

The Board has 10 members, three of whom are employee representatives. Board members elected by the shareholders are elected for one year at a time by the Annual General Meeting, based on recommendations made by the nomination committee and in accordance with the Articles of Association's requirements to the composition of the board of directors related to expertise, gender and location. Employee representatives are elected for two years at a time by the employees.

The work of the Board follows a fixed annual plan and is conducted in accordance with established rules of procedure. The Board holds meetings regularly and they have agreed in advance on nine meetings each year. Additional meetings are held depending of the matters to be considered and the situation. These meetings may be held as telephone meetings.

The Board has established three working committees: a remuneration committee, an audit committee and a risk committee.

The Board has established instruction for the CEO, and it performs an annual self-evaluation.

Rules of procedure

Gisele Marchand

Chair

Gisele Marchand (1958) holds an MBA from Copenhagen Business School.

Marchand was elected Chair of the Board in 2018, and has been a member of Gjensidige’s Board of Directors since 2010. She is Chair of the Organisation and Remuneration Committee and a member of the Risk Committee.

Marchand is a board member and Chair of the Audit Committee in Norgesgruppen ASA and Chair of the Board of Norgesgruppen Finans Holding AS. Furthermore, she is a member of the board and Chair of the Audit Committee of Scatec ASA. She is a member of the board of Selvaag Bolig ASA, where she is also a member of the Remuneration Committee and Chair of the Audit Committee. She is a board member of Eiendomsspar AS, Victoria Eiendom AS, and Chair of the Board of Nationaltheatret AS Boligbygg Oslo KF. She is a member of Entra Eiendom AS’s Nomination Committee. She also has previous experience from a number of other boards, including at Norske Skog ASA and Oslo Børs AS.

Marchand has previously been CEO of the law firm Haavind AS, Eksportfinans AS, the Norwegian Public Service Pension Fund, and the Bates Group and Executive Vice President at Den norske Bank, with responsibility for retail and commercial customers in Norway.

Marchand has extensive management experience from the financial sector, in addition to insurance expertise through many years on Gjensidige Forsikring’s Board. Marchand also has broad expertise in sustainable development from several different sectors.

Gisele Marchand is independent of key employees, main business partners and the main shareholder.

Marchand attended all the board meetings in 2022.

Marchand is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 1,481

Ellen Kristine Enger

Eivind Elnan

Board member

Eivind Elnan (1974) has been a member of Gjensidige’s Board of Directors since 2017 and is a member of the Audit Committee.

He holds an MSc in Industrial Economics and Technology Management (sivilingeniør) from the Norwegian University of Science and Technology (NTNU).

Elnan is Chair of the Board of Ax Innovasjon AS, Industrivegen 10 Verdal AS, FPS Holding AS and Boligbyggelaget Midt. Elnan is also a member of the board of Gjensidigestiftelsen.

Elnan has founded and built up several technology companies, including Securo AS and Hypoxic Technologies AS, which in 2017 become part of the German Wagner Group, and where he is now general manager.

Elnan has previous work experience from Securo AS, Innherred Vekst AS and Accenture and other firms.

Eivind Elnan is independent of key employees and main business partners.

Elnan attended all the board meetings in 2022. Elnan is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 2,200

Vibeke Krag

Board member

Vibeke Krag (1962) has been a member of Gjensidige’s Board of Directors since 2018 and is Chair of the Audit Committee.

Krag has a master’s degree in law (cand.jur.) from the University of Copenhagen, and a Board Leadership Masterclass from Copenhagen Business School.

She is a member of the board of Nykredit A/S, Nykredit Realkredit A/S, Heimstaden AB, Heimstaden Bostad AB (Publ) and Konkurrencerådet (the Danish competition authority), appointed by the Danish government. Krag is also a member of the board of the Danish pension group ATP (Arbejdsmarkedet Tilleggspænsion) and a member of the Nomination Committee for the University of Copenhagen.

Krag has broad management experience, legal expertise and extensive expertise and experience in insurance. She also has considerable experience of board work in a number of companies in the insurance, finance and energy sectors as well as public boards and committees.

Vibeke Krag is independent of key employees, main business partners and the main shareholder.

Krag attended all the board meetings in 2022.

Krag is up for re-election in 2024.

Number of shares in Gjensidige 31.12.2022: 1,500

Sebastian Buur Gabe Kristiansen

Board member

Sebastian Buur Gabe Kristiansen (1987) joined Gjensidige’s Board of Directors as an employee representative in 2020 and is a member of the Risk Committee.

He is the union representative for Forsikringsforbundet at Gjensidige Forsikring in Denmark.

Gabe Kristiansen has a financial degree in insurance, pension and secured credit from Niels Brock in Copenhagen, and supplementary education from the Danish Insurance Academy.

Gabe Kristiansen has held various positions at both Alka Forsikring and If. At Gjensidige, he has worked on claims processing and system development.

Gabe Kristiansand attended all the board meetings in 2022. Gabe Kristiansen is up for re-election to the Board in 2025.

Number of shares in Gjensidige 31.12.2022: 800

Tor Magne Lønnum

Board member

Tor Magne Lønnum (1967) was elected to the Board of Directors for the first time in 2020 and is a member of the Audit Committee.

Lønnum is a registered public accountant from BI Norwegian Business School, and holds the exam for stateauthorised public accountants from the Norwegian School of Economics (NHH), as well as an Executive Master of Business and Administration from the University of Bristol and Ecole Nationale des Ponts et Chaussées. Lønnum is a member of the board of Remedy Bidco. He is currently CFO of Kverva AS.

Lønnum has experience as Chair of the Board of Lindorff, and a board member of TGS Nopec Geophysical Company ASA, Bakkafrost and SR Bank. He has previous experience as CFO of Aimia Inc., Tryg AS, Tryg Forsikring AS and Falck A/S. Lønnum also has experience as Manager of KPMG AS, CFO and EVP for Strategy and Group Development of Gjensidige NOR Forsikring and as CFO of Gjensidige Forsikring ASA.

Tor Magne Lønnum is independent of key employees and the main shareholder.

Lønnum was absent from one board meeting in 2022.

Lønnum is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 12,000

Hilde Merete Nafstad

Board member

Hilde Merete Nafstad (1963) has been a member of Gjensidige’s Board of Directors since 2017 and is Chair of the Risk Committee.

Nafstad holds an MBA degree (siviløkonom) from BI Norwegian Business School.

Nafstad is a member of the board of Gjensidigestiftelsen, and holds several directorships in Equinor’s international subsidiaries. Nafstad is VP of Finance and Control at Equinor. Nafstad has previously held several senior positions at Equinor (formerly Statoil), Norsk Hydro, Saga Petroleum and the Ministry of Petroleum and Energy.

Hilde Merete Nafstad is independent of key employees and main business partners.

Nafstad attended all the board meetings in 2022. Nafstad

is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 3,946

Ruben Pettersen

Board member

Ruben Petersen (1988) was elected employee representative to Gjensidige’s Board of Directors in 2020 and is a member of the Audit Committee.

Pettersen holds a bachelor’s degree in business and administration with a major in economics from Trondheim Økonomiske Høgskole.

He has worked in Gjensidige Forsikring since 2013. He is the main employee representative for the Private division at Gjensidige Forsikring.

Pettersen was absent from one board meeting in 2022.

Pettersen is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 1.010

Terje Seljeseth

Terje Seljeseth (1960) has been a member of Gjensidige’s Board of Directors since 2018 and is a member of the Risk Committee.

Seljeseth is an ADB candidate/IT from Oslo Computer College (Datahøgskolen i Oslo) and holds a degree in mathematics/informatics from the University of Oslo.

Seljeseth is Chief Product Officer and member of the board of Videocation.no AS, which he also founded. Until recently, he also worked on investments and analytics at Blommenholm Industrier, the biggest owner of Schibsted, with a controlling interest. Seljeseth is a member of the Advisory Board of TX Markets in Switzerland, Chair of the Board of Nettbil.no, and a member of the board of Spond AS and Blommenholm Industrier AS in Norway. He held the position of CEO of Schibsted for many years and was responsible for developing Schibsted Classified Media (now Adevinta) and the business area Products and Technology. In addition, he has held various executive positions in technology at Schibsted, where he in 1999 started FINN.no and managed the company the first ten years.

Seljeseth is independent of key employees, main business partners and the main shareholder.

Seljeseth was absent from one board meeting in 2022.

Seljeseth is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 2,505

Gunnar Robert Sellæg

Board member

Gunnar Robert Sellæg (1973) was elected to the Board of Directors for the first time in 2020, and is also a member of the Organisation and Remuneration Committee.

Sellæg holds an MSc degree (sivilingeniør) from the Department of Chemical Engineering at the Norwegian University of Science and Technology (NTNU) / the Norwegian Institute of Technology (NTH), with emphasis on process control.

He is Chair of the Board of Catenda AS, Mimiro AS, Dogu-SalesScreen AS and Laft.io AS, and a member of the board of Amedia AS and Dossier Solutions AS.

Sellæg has broad experience of startups, digital initiatives, innovation and internationalisation, including services such as WiMP/Tidal, E24, Min Sky and Appear.in/Whereby. He has held various positions at Schibsted, including as CEO of Aftenposten Multimedia AS, CEO of Aspiro AB, and Chief Product Officer and EVP Markets at Telenor Group ASA. In 2017, he was one of the three entrepreneurs who started Spring Capital Polaris.

Gunnar Robert Sellæg represents Gjensidigestiftelsen and is independent of key employees and main business partners.

Sellæg was absent from one board meeting in 2022.

Sellæg is up for re-election to the Board in 2024.

Number of shares in Gjensidige 31.12.2022: 1.000