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GRI reporting by Solvang

The global reporting initiative framework allows Solvang to communicate our impacts on the economy, environment and people in a transparent way. The following GRI content index covers topics within governance, strategy, policies and practices, climate change mitigation and adaptation, emissions, waste and water management, and social responsibility. Disclosures will be available for all selected topics in the course of 2026.

updated 08. May 2026

Solvang's GRI content index

Universal standards
- General disclosures: GRI 2
Material topics standards 2025
List of omitted topics
List of omitted sections from GRI template 11 Oil & Gas

1. Universal standards

Mandatory for all, these define the principles of reporting, general disclosures (governance, strategy), and the process for determining material topics. These are the mandatory universal standards accounted for in Solvang's ESG report 2025. For omitted topics, see below.

General disclosures: GRI 2

1. Organization and its reporting practices

2-1 Organizational details

2-2 Entities included in the organization’s sustainability reporting

2-3 Reporting period, frequency and contact point

2-4 Restatements of information

2-5 External assurance

2. Activities & workers

2-6 Activities, value chain and other business relationships

Activities

Solvang operates within marine transportation, including shipping, ship management, and ownership of vessels. We divide our operation into six semi-refrigerated/ethylene carriers, seven LGC vessels, and six VLGC vessels, plus seven newbuild VLGCs under construction for delivery during 2026–2027.

In 2025, Solvang transported a total of 4.03 million tonnes of cargo over 1.58 million nautical miles. The value of the cargo transported in 2025 has an estimated value of 2.2 billion USD.

Value chain

Solvang maintains an integrated shipping organization headquartered in Stavanger, supported by suppliers and customers. Overview of value chain links.

Suppliers	In-house, Stavanger:	Customers
Shipyards	Headquarters	Charterers
Fuel providers	Technical operations	Cargo owners
Equipment and system service providers	Crewing	Port authorities and terminal operators
Manning agencies	Ship management, technical and safety management	Industrial users of liquefied gas
Classification	Oslo, Norway:	Petrochemical manufacturers, fertilizer producers
Port services	Commercial	LPG distributors
Insurance	Commercial operations
Legal and finance	Manila, Philippines:
Auditing	Crewing
Consulting	Riga, Latvia:
	Crewing

Other relationships

Solvang maintains business relationships beyond its direct value chain.

Joint ventures

Vessel management and ownership structure

Banks and financial institutions

Vessel financing, refinancing, loan facilities, guarantees in newbuilding and fleet operations

Insurance

(War Risk Club, P&I Clubs and Hull & Machinery insurers)
Risk underwriting, claims handling, compliance support, and loss-prevention services

Flag and Classification societies

Technical surveys, safety inspections, environmental compliance audits, and certification

Maritime associations

Safety-related, environmental and technological development, ethical conduct and anti-corruption networks

OCIMF and SIRE

Vetting

Technical consultants, engineering partners, research institutions

A.o. feasibility studies, alternative fuel assessments, ship design innovation, decarbonization strategies

2-7 Employees

3. Governance

2-9 Governance structure and composition

2-10 Nomination and selection of the highest governance body

2-11 Chair of the highest governance body

2-12 Role of the highest governance body in overseeing the management of impacts

2-13 Delegation of responsibility for managing impacts

2-14 Role of the highest governance body in sustainability reporting

2-15 Conflicts of interest

2-16 Communication of critical concerns

2-17 Collective knowledge of the highest governance body

2-18/19 Board of Directors’ Report

2-20/21 Financial statement

4. Strategies, policies and practises

2-22 Statement on sustainable development strategy

2-23 Policy commitments for responsible business conduct

2-24 Embedding policy commitments

2-25 Process to remediate negative impact

2-26 Mechanisms for seeking advice and raising concerns

The company ensures safe reporting channels for employees, contractors, and external stakeholders. Mechanisms include Whistleblowing and confidential reporting, with anonymity protected through anonymous reporting tools. Concerns are initially handled via established routines, and can be escalated via reporting lines, the DPA role, whistleblowing tools, or Onboard Complaint procedures. Employees are informed through ISM/MLC standards, company procedures, NIS flag CBAs, and employment briefings.

2-27 Compliance with laws and regulations; reporting incidents of non- compliance

2-28 Membership associations

5. Stakeholder engagement

2-29 Approach to stakeholder engagement

In line with GRI, the Norwegian Transparency Act, the UN social development goals and EU sustainability regulations, Solvang surveys our
stakeholder relations. The purpose is to apply feedback to improve as a company, to keep key stakeholders happy, and to gather support for our strategic dispositions.

Key stakeholders are defined as owners, own employees and terminal personnel (external). In addition, Solvang identifies contractors and subcontractors, financial institutions and customers as value chain stakeholders. Other related entities include government and regulators,
municipalities, interest organizations, national and international unions, and research institutions, which all play an important role in Solvang’s results.

2-30 Collective bargaining agreements

Material topics standards 2025

This section contains detailed, thematic disclosures used to report on material topics identified through our materiality assessments and taxonomy processes. All topic standard includes GRI "3-3 Management of material topics" - which is not listed in each topic.

The marked topics (grey boxes) are included in GRI template 11 Oil & Gas.

GRI 101: Biodiversity

11.4 Biodiversity

101-1 Policies to halt and reverse biodiversity loss

101-2 Management of biodiversity impacts

101-4 Identification of biodiversity impacts

101-6 Direct drivers of biodiversity loss

GRI 102: Climate change 2025

11.2 Climate adaptation, resilience, and transition

102-1 Transition plan for climate change mitigation

102-2 Climate change adaptation plan

102-4 GHG emissions reduction targets and progress

102-5 Scope 1 GHG emissions

102-8 GHG emissions intensity

102-9 GHG removals in the value chain

102-10 Carbon credits

GRI 103: Energy

11.1 GHG emissions

103-1 Energy policies and commitments

103-2 Energy consumption and self-generation within the organization

103-4 Energy intensity

103-5 Reduction in energy consumption

GRI 201: Economic performance 2016

201-1 Direct economic value generated and distributed

201-3 Defined benefit plan obligations and other retirement plans

201-4 Financial assistance received from government

GRI 202: Market presence

11.11 Non-discrimination and equal opportunity

202-2 Proportion of senior management hired from the local community

GRI 203: Indirect economic impacts

11.14 Economic impacts

203-1 Infrastructure investments and services supported

203-2 Significant indirect economic impacts

GRI 205: Anti-corruption

11.20 Anti-corruption

205-1 Operations assessed for risks related to corruption

205-2 Communication and training about anti-corruption policies and procedures

205-3 Confirmed incidents of corruption and actions taken

GRI 206: Anti-competitive behaviour

11.19 Anti-competitive behavior

206-1 Legal actions for anti-competitive behavior, anti- trust, and monopoly practices

GRI 303: Water and effluents

11.6 Water and effluents

303-2 Management of water discharge-related impacts

GRI 305: Emissions

11.3 Air emissions

305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions

GRI 306: Waste

11.5 Waste

306-1 Waste generation and significant waste-related impacts

306-2 Management of significant waste-related impacts

306-3 Waste generated

306-4 Waste diverted from disposal

306-5 Waste directed to disposal

GRI 308: Supplier environmental assessment

308-1 New suppliers that were screened using environmental criteria

308-2 Negative environmental impacts in the supply chain and actions taken

GRI 401: Employment

11.10 Employment practices

401-1 New employee hires and employee turnover

401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees

401-3 Parental leave

GRI 402: Labor/Management Relations

402-1 Minimum notice periods regarding operational changes

GRI 403: Occupational Health and Safety

11.9 Occupational health and safety

403-1 Occupational health and safety management system

403-2 Hazard identification, risk assessment, and incident investigation

403-3 Occupational health services

403-4 Worker participation, consultation, and communication on occupational health and safety

403-5 Worker training on occupational health and safety

403-6 Promotion of worker health

403-7 Prevention and mitigation of OHS impacts in business relationships

403-8 Workers covered by an occupational health and safety management system

403-9 Work-related injuries

403-10 Work-related ill health

GRI 404: Training and education

404-1 Average hours of training per year per employee

404-2 Programs for upgrading employee skills and transition assistance programs

404-3 Percentage of employees receiving regular performance and career development reviews

GRI 405: Diversity and equal opportunity (2016)

405-1 Diversity of governance bodies and employees

405-2 Ratio of basic salary and remuneration of women to men.

GRI 413: Local Communities

11.15 Local communities

413-1 Operations with local community engagement, impact assessments, and development programs

413-2 Operations with significant actual and potential negative impacts on local communities

GRI 414: Supplier social assessment (2016)

11.12 Forced labor and modern slavery

414-1a New suppliers that were screened using social criteria

414-2a Number of suppliers assessed for social impacts

414-2b Number of suppliers with social impacts

414-2c Social impacts identified in the suply chain

414-2d Percentage of suppliers with social impacts with which improvements were agreed

414-2e Percentage of suppliers with social impacts with which relationship was terminated, and why

List of omitted GRI topics

GRI topic	Description	Reason for omittance
2-8	Workers who are not employees	n/a, no relevant role
2-18	Evaluation of the performance of the highest governance body	Confidentiality constraints
2-19	Remuneration policies	Confidentiality constraints
2-20	Process to determine remuneration	Confidentiality constraints
2-21	Annual total compensation ratio	Confidentiality constraints
2-25	Processes to remediate negative impacts	Information unavailable/incomplete
2-27	Compliance with laws and regulations	Information unavailable/incomplete, compliance handled in separate channels, constraints on information sharing
101-3	Access and benefit-sharing	n/a, no locations
101-5	Locations with biodiversity impacts	n/a, no locations
101-7	Changes to the state of biodiversity	n/a, no locations
101-8	Ecosystem services	n/a, no locations
102-3	Just transition	n/a, no users
102-6	Scope 2 GHG emissions	n/a, insignificant volume
102-7	Scope 3 GHG emissions	n/a, no available data
103-3	Upstream and downstream energy consumption	n/a, no available data
201-2	Financial implications and other risks and opportunities due to climate change	Information unavailable/incomplete
202-1	Ratios of standard entry level wage by gender compared to local minimum wage	n/a
204-1	Proportion of spending on local suppliers	Information unavailable/incomplete
207-1	Approach to tax	Disclosed in annual financial statement
207-2	Tax governance, control, and risk management	Disclosed in annual financial statement
207-3	Stakeholder engagement and management of concerns related to tax	Disclosed in annual financial statement
207-4	Country-by-country reporting	Disclosed in annual financial statement
301-1	Materials used by weight or volume	Information unavailable/incomplete
301-2	Recycled input materials used	Information unavailable/incomplete
301-3	Reclaimed products and their packaging materials	Information unavailable/incomplete
303-1	Interactions with water as a shared resource	n/a, insignificant volume
303-3	Water withdrawal	n/a, insignificant volume
303-4	Water discharge	n/a, insignificant volume
303-5	Water consumption	n/a, insignificant volume
305-6	Emissions of ozone-depleting substances (ODS)	n/a, insignificant volume
306-4	Waste diverted from disposal	n/a
401-1	New employee hires and employee turnover	Information unavailable/incomplete
406-1	Incidents of discrimination and corrective actions taken	n/a, no incidents
407-1	Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk	Information unavailable/incomplete, no perceived risk
408-1	Operations and suppliers at significant risk for incidents of child labor	n/a, no significant risk
409-1	Operations and suppliers at significant risk for incidents of forced or compulsory labor	n/a, no significant risk
410-1	Security personnel trained in human rights policies or procedures	n/a, not relevant
411-1	Incidents of violations involving rights of indigenous peoples	n/a, no relevant locations or operations
415-1	Political contributions	n/a, no monetary transfers
416-1	Assessment of the health and safety impacts of product and service categories	Information unavailable/incomplete
416-2	Incidents of non-compliance concerning the health and safety impacts of products and services	n/a, no incidents
417-1	Requirements for product and service information and labeling	n/a, no private end-users
417-2	Incidents of non-compliance concerning product and service information and labeling	n/a, no private end-users
417-3	Incidents of non-compliance concerning marketing communications	n/a, no private end-users
418-1	Substantiated complaints concerning breaches of customer privacy and losses of customer data	n/a, no private end-users