3. Equity and dividends
Marine Farms shall have an equity capital at a level appropriate to the Company's objective, strategy and risk profile.

The Board of Directors' principal policy as regards the payment of dividends is to maximise returns on equity primarily in terms of increase in the share price. Dividend payments will be dependent on Marine Farms' earnings, financial situation and cash flow; possibilities for further value creation through investments taken into account.

Mandates granted to the Board of Directors to increase Marine Farms' share capital or to purchase own shares shall as a general rule be restricted to defined purposes. At each Annual General Meeting, the shareholders shall have the opportunity to evaluate and consider the board mandates granted. Thus, the mandates should be limited in time to no later than the date of the next Annual General Meeting. All mandates not in compliance with these guidelines should be accounted for in the Annual Report.