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For more information regarding the ADR programme and trading with ADRs.

What is an American Depositary Receipt (LEVEL 1 ADR)?

An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. ADRs are quoted and traded in U.S. dollars in the U.S. securities market. Also, the dividends are paid to investor in U.S.dollars. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by U.S. investor, and to provide a corporate finance vehicle for non-U.S. companies.

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What are the benefits of ADRs to US investors?

US investors generally prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle according to US market conventions. One of ADRs’ main advantages is the facilitation of diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information, if listed. ADR holders also appreciate dollar dividend payments and receiving corporate action notifications.

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What types of companies issue ADRs?

ADRs issuers are typically large multinational corporations. Any non-U.S. company seeking to engage the US market to diversify its investor base, raise capital in the U.S. or offer US-type employee plans.

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Is it easy to get information and updates on an ADR company?

Investors receive annual reports and proxy materials in English. ADR issuers generally have full information in English about themselves on their websites, as well as on the main depositary bank websites, and are better tracked by the main U.S. financial websites. ADRs listed on U.S. exchanges provide holders with the same level of information as any other U.S. security; trading information is readily available, financials are reconciled to U.S. Generally Accepted Accounting Principles (GAAP), and the SEC regulates the Company’s disclosure to investor. ORKLA’s ADRs are not listed on a US exchange, but trades in the over-the-counter market; ORKLA does not provide US GAAP financial statements.

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Where are ORKLA ADRs traded?

The ADRs are traded Over-The-Counter.

Symbol: ORKLY
CUSIP: 686331109
Exchange: OTC
Ratio: 1:1
Country: Norway
Industry: Food Producers
Depositary: BNY (Sponsored)
Effective Date: Nov 12, 2002
Underlying SEDOL: B1VQF42
Underlying ISIN: NO0003733800
U.S. ISIN: US6863311097

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Who is the ORKLA depositary for ADRs?

The Bank of New York Mellon. The depositary bank plays a key role in the process of issuance and as cancellation of ADRs. It also maintains the ADR holder register and distributes the dividends in US dollars. For additional information, please visit The Bank of New York Mellon’s website at www.adrbny.com and search for ORKLA’s Profile Page.

Registered holders can access :

Shareholder correspondence:
BNY Mellon Shareowner Services
P.O. Box 43006
Providence RI 02940-3078

Overnight Correspondence:
BNY Mellon Shareowner Services
150 Royall St., Suite 101
Canton, MA 02021

Website: www.mybnymdr.com
e-mail: shrrelations@cpushareownerservices.com

Toll Free Telephone Number in the US: 1-888-269-2377
Outside the US: +1-201-680-6825

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What is the difference between a Registered holder and a Beneficial ADR holder?

A registered holder is one whose name appears on the books of the depositary, as registrar; the registered holder is considered the owner of record. A beneficial holder is one whose holdings are held in a name other than their own, such as in the name of a broker, bank or nominee.

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How are ADR dividends paid and taxed?

Dividends are paid in U.S. dollars and are generally taxable, just like dividends on U.S. shares. In addition, taxes may be withheld by the ADR company’s local government. Depending on individual circumstances, foreign taxes withheld might be applied as a credit against U.S. taxes, or tax reclaim opportunities may be offered.

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How can I find out dividend and corporate action information on ORKLA?

For dividend and corporate action information, please visit www.adrbny.com. Go to the DR Corporate Actions or DR Dividends & Distribution buttons on the vertical scroll bar on the left and then enter company name, CUSIP or symbol.

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How can I buy ADRs via a US Broker?

You can buy an ADR through a broker, just as you would U.S. securities.

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How can I convert ordinary shares in ORKLA into ORKLA ADRs?

A) You will need to contact your local broker, advising the amount of local shares you wish to convert and where you want the resultant ADRs to be delivered too.

B) Upon safe receipt of these local Norwegian shares at local custodian DnB NOR Bank ASA, The Bank of New York Mellon will create the relevant ADRs and deliver then to the designated account provided in (A).

C) A fee per ADR issued is payable to The Bank of New York Mellon upon the delivery of the ADRs. Most commonly, when The Bank of New York Mellon delivers the ADRs to the specified DTC account, this is done on a delivery versus payment (DVP) instruction against the conversion fee. If an alternative method of payment is required, please contact the Broker Desk for further details. Where the DTC account is operated by a broker on behalf of a shareholder, the broker should confirm to the shareholder that it has received the ADRs and is holding them on his/her behalf.

Contact Information

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