IR Policy

The Company complies with the IR Code. Any future deviations from the IR Code will be explained as required by the IR Code.

Disclosure and reporting to the financial markets and contact with shareholders, investors and analysts shall be based on the following main principles:

(i)        Equal and simultaneous disclosure: All price-sensitive information shall be disclosed equally and simultaneously to all market participants.

(ii)       Clarity, accuracy, and consistency: All external communications shall be clear, accurate, and consistent.

(iii)      Public availability of presentation materials. All presentations related to financial results, the Capital Markets Day, and investor events shall be made publicly available at the time of the event or immediately thereafter.

(iv)      Consistency in investor meetings. Materials shared with individual investors shall not differ materially from information that is already publicly available.

(v)       Compliance with laws and regulations: All disclosure, communication and reporting shall be in compliance with the applicable laws and regulations, in particular the Norwegian Securities Trading Act, MAR, the Luxembourg Audit Act and the Rule Books. The Company shall also comply with the relevant recommendations and market practices for reporting financial and other IR information.

(vi)      Inside information: Unless exceptions apply and are invoked, the Company shall promptly disclose all inside information (as defined by article 7 of MAR).

(vii)     Language: All financial and other IR information shall be published in English. All stock exchange announcements shall be published in English.

(viii)    Information on value drivers: The Company shall publish accurate and relevant information about its historical earnings, operations, outlook and any other information that the Company has defined as significant and relevant for fair valuation of the Shares. Such information shall be balanced and consistent over time.

(ix)      Guidance: The Company may provide forward-looking information related to its forecasted financial results to guide market participants on the Company’s own estimates. Such information is generally known as guidance and should be based on the Company’s best estimates.

(x)       Quiet period: Three weeks before the announcement of quarterly results, contact with external analysts and investors is minimized. This is done to reduce the risk of information leaks and to avoid unequal information among market participants.

(xi)      Broad market access to information: The Company shall ensure broad and equitable access to information by disclosing information to shareholders and the market on the Company’s investor relations website as further set forth therein, and through NewsWeb.

(xii)     Analyst relations: Constellation commits to treat all analysts equally and provide accurate, clear, and relevant information. The Company does not comment on analyst forecasts, target prices, or recommendations, except to correct factual errors in publicly disclosed information.

This IR Policy shall be reviewed periodically to ensure alignment with regulatory requirements, market practices, and the Company’s strategic objectives.