Oskar Pedersen AS ("OP" or "Oskar Pedersen") is a family-owned company in its fourth generation and has supplied quality goods since its establishment in 1925. OP has 15 employees as of June 2026, and its head office is located in Kristiansand, Norway. OP is owned by three holding companies: TOP1 Holding AS holds 68 % of the shares; Topedersen Holding AS holds 25 %; and LUP Holding AS holds 7 %. None of the holding companies have employees or engage in any activities other than holding shares in OP. Consequently, this report will concentrate on OP's business operations and its efforts to ensure human rights and decent working conditions.

OP grew from being a ship chandler to become a major supplier of supplies, doing business in several sectors and with customers in both offshore- and marine-based activities. In the 1990s, OP shifted focus toward supplying operative solutions for the governments in the Scandinavian countries. This includes supply of uniforms, tents, tactical gear, operative solutions, and various equipment to public customers, including the military and the police. The company has no production of its own, but serves as e.g. tender advisors, bid managers, contract managers, and marketing agents for manufacturers/suppliers in regard to the customers, who are the public sector. After almost three decades honing this expertise, OP has become highly competent and competitive within this niche.

Our ambition is to be a leading company within both social- and environmental awareness, and we are dedicated to strengthening corporate social responsibility and sustainability throughout all of our supply chains. As a contractor for textile products for several government customers, we are always cognizant of the historic risk of poor working conditions and non-ethical work practices within the textile industry. Our goal is to ensure confidence for our customers and ourselves that Oskar Pedersen's supply chains are 100 % ethical and 100 % in compliance with any and all applicable CSR requirements.

Oskar Pedersen's quality management system provides guidelines and work processes to vet, review, and perform due diligence of our business partners where the industry, location, or circumstances deem there to be an inherent risk of breach of human rights and unacceptable working conditions. These guidelines include, but are not limited to, the following:

1. A cohesive bid/sales process that includes risk reviews.
2. Vetting and review of potential manufacturers and suppliers.
3. Procedures for informing stakeholders and seeking professional guidance for mitigating actions in accordance with the Norwegian Transparency Act.

Our due diligence reviews are performed by business intelligence experts, and can be tiered and scaled to accommodate the risk at hand and/or customer requirements. Oskar Pedersen's standard terms and conditions contain requirements for our partners to comply with all relevant conventions and international standards regarding human rights, worker rights, and anti-corruption practices. Further, OP has in place guidelines to ensure human rights and decent working conditions within the company.

OP's business activities in Norway primarily consist of administrative and sales activities, and OP has not identified any risks relating to human rights and decent working conditions in connection with these activities. During this reporting period, no injuries or accidents related to the work situation were reported. The employees have a good working environment, and they have employment contracts in accordance with applicable labor legislation. Moreover, in 2024 OP entered into an agreement for health insurance for its employees, ensuring prompt treatment, which has been further strengthened during 2025.

Given the low risks associated with the business operations in Norway, OP has prioritized allocating greater effort towards conducting due diligence assessments of the supply chains, with a particular focus on textile manufacturers and cut and trim providers.

Considering OP's activities, the following risks are deemed to be of utmost relevance in terms of human rights and decent working conditions:

1. Wages and compensation.
2. Migrant workers/third-party workers.
3. Working hours.
4. Health and safety.
5. Previous regulation and litigation actions.
6. Board member's/owner's previous history of unsatisfactory working conditions.
7. Civil and political rights.
8. Country-risk.

During this reporting period OP has continued its systematic risk-based due diligence work and conducted several on-site audits in Bangladesh, Estonia, Latvia, and the U.S., in addition to IDD screenings of new suppliers as well as suppliers added to existing supply chains. In alignment with the previous reporting period, the suppliers and subcontractors were selected through a combination of proactive risk assessment based on country of production and type of business, in addition to customer requirements and applicable law.

During this screening, no significant risks or actual adverse impacts relating to human rights and decent working conditions were identified. Further, no tangible risks that required actions were identified during this screening. Minor findings/room-for-improvement have been included in ongoing improvement processes as a means of mitigation with each supplier/subcontractor.

However, while no significant risks or actual adverse impacts related to human rights and decent working conditions have been uncovered so far, Oskar Pedersen remains committed to maintaining and strengthening its ongoing due diligence assessments to identify and promptly resolve any significant risk or actual adverse impacts that may be revealed during the process. Further, Oskar Pedersen has in place tools and action plans to conduct further due diligence assessments if necessary based on the findings made in the initial assessment phase. Since June 2025, OP has also increased the frequency of Integrity Due Diligence (IDD) assessments and visits to potential sub-suppliers at a much earlier stage of the commercial relationship, in an effort to further strengthen its due diligence of the supply chain.

If any instances of unacceptable human rights violations or working conditions are uncovered, Oskar Pedersen has implemented action plans to effectively address and guide the affected parties in achieving satisfactory working conditions in compliance with OP's standards. These actions may include contractual remedies stipulated in OP's contracts and action plans that are integrated into OP's quality system.