Board composition

Elected by the Annual General Meeting



Appointed by the employees

Independence

All members of the Board, elected by the AGM, are by the Nomination Committee considered as being in compliance with the requirements for independence stipulated by the Swedish Code of Corporate Governance. 1)

1) According to the Swedish Code of Corporate Governance, the majority of the directors elected by the shareholders' meeting shall be independent in relation to the company and its executive management. At least two of these shall also be independent in relation to the company's major shareholders. A directors independence in relation to the company and the executive management is determined by a general assessment of all factors that may give cause to question the individuals independence. A director who is employed by or a director in a company that is a major shareholder (directly or indirectly controlling 10 percent or more of the shares or votes) is not considered independent in relation to the company's major shareholders.