The following table presents information pursuant to the Investment Recommendation Regulation § 2-5 (4), including quarterly statistics regarding the ratio of Recommendation categories issued by Fearnley Securities AS, as well as the corresponding ration of Recommendation categories issued with respect to Recommendation Subjects for which Fearnley Securities AS provided investment banking services during the preceding twelve months.

Rating distribution Investment banking relationship
Buy Accumulate Reduce Sell Buy Accumulate Reduce Sell
54% 19% 18% 9% 100% 0% 0% 0%

Last updated 20 November 2017