Exclusions

The result of Storebrand's restrictive screening analysis is that some companies are excluded from our investment universe; consequently Storebrand's managers cannot select any of these companies when buying shares or bonds.

Storebrand's responsible investment criteria cover all of Storebrand's funds.
The following table shows Storebrand's restrictive criteria and the respective number of exclusions for each criterion.

Criteria	Exclusions pr. Q2 2010
Human rights	16
Corruption	8
Severe environmental degradation	11
Landmines	3
Cluster munitions	6
Tobacco	18
Nuclear weapons	14
10 % worst performers in high risk industries	37

There are 99 excluded companies in total as of Q2 2010.

* Some companies are excluded on the basis of several criteria
**High risk industries are amongst others defined as Oil& Gas, Chemicals, Textiles, Metals & Mining, Marine, Pharmaceuticals, Electric Utilities, Paper & Forest