Building a Culture of Integrity in DNV

1. Building a Culture of Integrity in DNV Cecilie Hultmann, senior consultant, Det Norske Veritas (DNV)

2. Integrity at the core Independent foundation established in 1864 Self-owned with no shareholders We use profits to continuously develop our people and our research and innovation Stakeholders are represented in our governing bodies and committees 2

3. Highly skilled people around the world 300 offices 130 countries 9,000 employees, of which 76% have university degree 3

4. Purpose: To safeguard life, property and the environment Vision: for a safe and sustainable future.

5. DNV’s core competence identify assess manage risk 5

6. Turning risks into rewards

7. BUSINESS CHALLENGE BUSINESS RESPONSE • Manage risks • Get relevantdecision support • Build trust and confidence towards stakeholders • Achieve and maintain safe and sustainable performance Turn risks into rewards

8. Our main services

9. A trusted player in shipping 130 Authorised by 130 national maritime authorities 17% DNV classed 17% of the world fleet orderbook in 2009 (in Gross Tonnes) 15.5% 15.5% of the world’s sailing fleet is to DNV Class (in Gross Tonnes)

10. Walk the talk What we deliver How we work Foundation established 1864 10

11. CR in DNV Timeline 2002 2004 2007 2008 2003 2006 2008 2009 2005 CR in DNVs strategy plan CR Action Plan 2003-2005 DNV signs partnership with Red Cross DNV signs UN Global Compact CR ActionPlan 2006-2008 CR ActionPlan 2009-2011 Ombudsman scheme established Anti-corruption instructions 1st TBL report published Country analysis instructions Reporting Misconduct Supply Chainmanagement DNV Members of Transparency International Dealing with Dilemmas Crossing the Line UN Global Compact - Climate change commitments 11

12. Anti-corruption in DNV: Policies 2011 revision of policy documents • Corporate Responsibility policy • Code of Business Conduct • Code of Personal Conduct • Supplier Code of Conduct ”We condemn any form of bribery and corruption… We will not give or receive any gifts or other benefits which may be perceived as influencing our impartiality or business behaviour… We do not act in a way that can lead to dependence on other parties so that our integrity and impartiality may be hampered.”

13. Anti-corruption in DNV: Procedures • Independant Ombudsmann (DNVs CR Officer) – responsibility for receiving, recodring and handling reports made on actual or reported misconduct • New procedures for dealing with misconduct

14. Anti-corruption in DNV: dilemma training

15. Corporate integrity profile: Background and objectives Why an assessment of DNVs resistance towards fraud and corruption? DNV is dependent on its brand and trust As a global organisation DNV is exposed to fraud and corruption A need to understand the robustness of the organisation Measure improvements since last assessment in 2007 Objectives of the assessment Assess how robust DNVs culture and systems are to deal with fraud and corruption Assess DNV’s recent initiatives and whether they have increased DNV’s resistance towards F&C Identify improvements areas 15

16. The 12 components of the assessment What's the culture and commitment from the top? How is this communicated and understood? 1 Do we know what the fraud and corruption risks are? 2 Do we do something about the risks once we have identified them? 3 Are internal controls effective in preventing and detecting fraud and corruption? 4 Are people aware of fraud and corruption risks? Have employees taken awareness programs? 5 12 6 How effective and independent is the internal audit process with respect to F&C? 7 How effective is the monitoring of the executive board and senior management? 8 Has the organisation established an effective F&C monitoring and detection process? 9 How well is the organisation managing incidents of suspected fraud and corruption? 10 Is the organisation willing to learn from cases of fraud and corruption? 11 Are identified risks systematically followed up when internal changes occurs ? Is the review and reporting of F&C related risks managed systematically and is information disclosed to stakeholders? 16

17. Scope of interviews and scoring Interviews Report and score Overall results for DNV Corporate Benelux Benelux China China Criteria for selection: Criteria for selection of units to be included have been:, DNV core businesses, high growth in markets, difference in size, locations not assessed in 2007, representatives from corporate level • Scores: • Score on elements 1,2, 3,4,5,6,9,10 and 11 is based on all interviews. • Score on element 7, and 12 is mainly based on interviews from Corporate with control questions in all interviews 17

18. Assessment process Collect data Survey sent out to all participants Informal interviews with key personnel as a basis for a preliminary F&C risk assessment of DNV Involvement Risk workshop Risk workshop 20.01.2011 with selected key personnel Self assessment according to the 12 CIP elements Development of a F&C risk matrix and risk register Interviews Development of interview- guide Interviews at Høvik, Benelux and China incl F&C risk identification Analysis Report CIP profile for DNV CIP profile of China CIP profile of Benelux 18 18

19. Measuring and manage Integrity – DNV’s 12-components 19

20. Safeguarding life, property and the environment www.dnv.com