A comply or explain principle 

The report from the WWH board is based on the requirements covered in the Norwegian Code of Practice for Corporate Governance (the code), the Public Limited Companies Act and the Norwegian Accounting Act.

The report is published as part of the company’s annual report. The report is also available on the company’s webpage.

The code is built on a “comply or explain” principle, which means that reasons must be given for possible divergence from its provisions. WWH has a majority owner which
controls more than 50% of the votes at the general meeting. The shareholder structure implies that it would be inconvenient to implement all of the code’s provisions in full. Justification for deviations and what alternative solution the company has chosen are
given where applicable.