Norges Bank Investment Management (NBANK) investor relations material

Opening themes and context

• Conference focused on defining and building a winning culture as the only true competitive advantage in a world where strategy, talent, and technology can be copied.

• Sessions explored how culture is built, transformed, and scaled, especially as AI reshapes organizations.

• Leaders from diverse industries shared their approaches to culture, from high-performance finance to low-cost airlines and global retail.

Insights on building and sustaining culture

• Culture is shaped by leadership behaviors, not slogans, and is transmitted through daily actions and decisions.

• High agency and ambition drive long-term success, with winning cultures enabling speed, innovation, and risk-taking.

• Companies that survive generational transitions have cultures focused on customers, employees, and societal value, not just profit.

• Empowering junior staff with decision-making authority and fostering learning from both success and failure are key to leadership development.

Transformation and adaptation

• Transforming culture in established organizations requires clarity of purpose, simplicity, and alignment of incentives.

• Leaders must address confusion, not just resistance, and repeatedly communicate core missions to embed change.

• Concrete changes to practices, such as reducing bureaucracy and flattening management, help drive transformation in legacy firms.

• Transparency, respect, and intentional succession planning are essential for smooth leadership transitions.