The Company’s objective, as set out in § 3 of the Company’s articles of association (the “Articles of Association”), is “to deliver products and services to the oil industry and activities related to this, and investing in other companies”. The Board of Directors is of the opinion that the business objectives laid down in the Articles of Association provide predictability and direction for the Company’s business strategy and the activities that it may conduct, acquire or initiate. The Articles of Association is available at the Company’s website.

The Company’s vision is to be a world-class company in some of the technologically challenging segments of the offshore oil and gas market. The Company focuses on utilizing its competitive advantages within design, engineering, project execution and operations to offer cost-efficient and innovative products and solutions to its clients, based on the proprietary Sevan design.