The Transparency Act 1

The Transparency Act (Åpenhetsloven)

North Sea Shipping AS is committed to complying with all relevant laws and regulations governing transparency and disclosure. “The Norwegian Transparency Act” (“Lov om virksomheters åpenhet og arbeid med grunnleggende menneskerettigheter og anstendige arbeidsforhold (Åpenhetsloven)”), establishes legal requirements for larger enterprises’ duty to report on human rights due diligence, and their work to ensure compliance with fundamental human rights and decent working conditions within the enterprises, in their supply chains, and with their business partners.

We will provide access to information about our operations, decision-making processes, and the use of company resources to the extent required by law and consistent with our commitment to confidentiality and data privacy. We will also provide training and resources to our employees to ensure they are aware of their obligations under this law and other relevant transparency regulations.

As a part of our work to ensure compliance with the law and protecting fundamental human rights we have established routines for due diligence assessment and updated the company CSR-Policy. We have also implemented a “Suppliers Code of Conduct” (SCC). We will work to ensure that our suppliers and contracting partners are operating in accordance with basic human rights and decent working conditions.

As mentioned above North Sea Shipping North Sea Shipping has a routine for conducting a due diligence assessment. This assessment will be made available on our website and upon request. It is conducted yearly and follow up of concerns and remediating actions will be carried out if needed.

The Transparency Act 2