1. INTEGRATED REPORTING – INVESTORS` PERSPECTIVE CEO Idar Kreutzer, Finance Norway EY Integrated Reporting Seminar 20. Mai 2014

2. 2 The objective

3. A Simple Model 3 State clearly what you intend to do and why Implement and report on progress Evaluate, learn and improve Measure the effects and report on financial and non- financial indicators

4. Risk Cash flow Competitiveness Agility 4 Investors perspective

5. 4 drivers 5 Consumer behaviour Risk management Cost of capital Innovation

6. Adjusted business models 6 Business Fluctuating prices and availability of raw materials Increasing complexity of risk Changing consumer behavior Evolving framework conditions Rising cost of capital Kilde: World Business Council for Sustainable Development, Vision 2050

7. Environmental Profitable Social Sustainable value creation A sustainable business model 7

8. The road to integrated reporting 8 Purpose: Increase transparancy Forward-looking reporting Focus on value-drivers Dilemma: Increased demands for traceability and audits Increased requirements on reporting process and system. Non-financial measurements

9. What you measure is what you get 9

10. Based on KPI`s 10 Company strategy Goals and action plans Incentives and compensation Reporting and control Efficient processes Satisfied customers Motivated employees Integrated reporting must build on the strategic value drivers and business strategies

11. A piece of Advice 11

12. 12 The price of greatness is responsibility Winston Churchill