Equinor : UK gender pay gap report 2023

Equinor UK Limited Gender Pay Gap report 2023

Equinor in the UK has today published its gender pay gap results for the Seventh year in line with the government's Gender Pay Gap regulations introduced in April 2017. As required by government regulation for gender pay reporting, we include data for Equinor UK Limited, with 477 employees, and figures from Equinor Production Limited, with 256 employees. This represents a complete overview of Equinor's UK activities in five locations across commercial, commodity trading, onshore/ offshore business areas and corporate functions. Median Pay Gap for Equinor UK is positive for women, Median Bonus Gap for Equinor UK is also positive for women. The breakdown below provides a more detailed representation of the company's gender demographic.

Equinor UK Limited gender pay gap

136341

Female employees Male employees

*Mean pay: a comparison of the average pay/bonus for a woman and the average pay/bonus for a man *

*Median: a comparison of the "middle pay" for a woman of all pay/bonus amounts were sorted from low to high and the "middle" pay/bonus amounts for a man

Equinor Production UK Limited gender pay gap

50206

Female employees Male employees

In Equinor UK we are committed to driving gender equality and inclusion across our business so that we make better business decisions and work to our full potential. We work hard to strengthen our organisation to reflect the communities and customers we serve, aligned with our values of being open, collaborative, courageous and caring. Our 2022 Gender Pay Gap report signalled progress in narrowing the pay gap. Our 2023 report continues that theme and supports that Equinor UK is focused on introducing adjustments to how we attract, select, develop, and equally reward employees. As part of our ambitions in Renewables, Equinor supports sector action to support offshore wind commitments to increase diversity in the workforce with an ambition of 40 per cent women employed in the sector by 2030. In 2022 we strengthened equal pay evaluation as part of Equinor's annual salary review process, addressing any gender-based pay parity.

In January 2024 Equinor conducted a Mercer regression analysis on gender pay, which found an adjusted pay gap of

0.9% for direct compensation in the UK, which includes salary and annual bonus. This was a significant achievement for the company, given that the national gender pay gap in the UK was 15.5% in 2023, according to the Office for National Statistics. We attribute this success to our commitment to fairness, transparency, and accountability in all aspects of our operations. We have also implemented various initiatives to foster a more inclusive workplace culture. The company provide training programs such as inclusive leadership, raise awareness of unconscious bias and encourage respectful and inclusive behaviour. Equinor also provide flexible working policies, such as hybrid working and reduced hours, to support our employees in having a good work/life balance. In 2023, a Women in Equinor UK employee resource group was formed, this is an employee led group whose objective is to build awareness, share ideas and support a diverse and inclusive work environment.

We acknowledge the need to address female representation at all levels in our Operations and Commodity Trading businesses, and senior representation across all Equinor UK business areas. Changes we are confident will be visible in future reporting.

Declaration

We confirm that Equinor UK Limited gender pay gap calculations are accurate and meet the requirements of the Regulations

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Signed by Alex Grant, Country Manager Equinor UK