Circular to all Members At the Annual General Meeting of Assuranceforeningen Skuld (Gjensidig) (“the Association”) held in Oslo, Norway on 4 September 2014, members and clients received reports on matters of importance to the Association’s business and annual elections were held. 1. 2013 Financial Year The Board of Directors’ report and accounts for the Association for the year ending 20 February 2014 were approved by the Annual General Meeting. 2. Review of Policy Years 2011 Policy Year - The AGM decided to close the 2011 policy year without supplementary calls. 2012 Policy Year - The year will be kept open until 2015. 2013 Policy Year - The year will be kept open until 2016. 3. Statutes amendments Statutes On the Committee’s recommendation, the Meeting adopted amendments to the Statutes 1.10 and 1.12, based on recommendations from the Norwegian Financial Supervisory Authority (FSA). The amendments establish that the Audit Committee shall consist of 3 to 4 members instead of the full Board collectively. 4. Elections 4.1 Elected members of the Members’ Committee of Assuranceforeningen Skuld (Gjensidig) The members of the Members’ Committee are elected at the Annual General Meeting in accordance with statute 1.3.4. a) The following were re-elected for a two-year period until the Annual General Meeting 2016: Michael Ippich Hartmann Schiffahrts GmbH & Co. KG, Leer, Germany Gökhan Kiran Kiran Holding A.S., Istanbul, Turkey Odd-Christian Krohn Fred. Olsen Insurance Services AS, Oslo, Norway Jan van der Laan Feederlines BV, Groningen, The Netherlands Michalis D. Stefanos EPIC GAS Ltd. (Diamantis Pateras), Piraeus, Greece Leon S Patitsas Atlas Maritime Ltd, Athens, Greece Phil Rundle Versabar, Inc., Houston, USA Felix H. Tschudi Tschudi Shipping Company AS, Lysaker, Norway Nils Aardal Jo Tankers AS, Bergen, Norway b) The following were elected as new members for a one year period until the Annual General Meeting in 2015: Roberto Giorgi V.Ships, Monaco Mark Jansen Seatr