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H&M Hennes og Mauritz AB

At the Hennes og Mauritz annual general meeting on 7 May 2020, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against items 11.4 and 11.6 for the following reasons:

Item 11.4: Election of Lena Patriksson Keller to the board of directors

Rationale:
In Folketrygdfondet’s view, board members should not undertake assignments for the company
outside of their duties to the board. Folketrygdfondet’s concern is that such assignments may
negatively affect the board member’s independence and ability to perform his or her supervisory
functions properly. Lena Patriksson Keller owns Patriksson Communication AB, which received
SEK 6 million in consulting fees from Hennes & Mauritz during the past fiscal year. For this
reason, Folketrygdfondet voted against item 11.4.


Item 11.6: Election of Erica Wiking Häger to the board of directors

Rationale:
In accordance with the rationale for item 11.4, Folketrygdfondet likewise voted against item 11.6.
Erica Wiking Häger is a partner at Mannheimer Swartling, which received SEK 4.5 million from
Hennes & Mauritz for legal services provided during the past fiscal year.