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Work of the Board of Directors

The Board is regulated by the Swedish Companies Act, the company’s Articles of Association and after the listing on Nasdaq Stockholm also the Swedish Code of Corporate Governance

The work and work methodology of the Board is established annually in written rules of procedure. These rules govern the work and division of responsibility between the members of the Board and between the Chairman and the CEO. They also contain routines for financial reporting for the CEO. The Board also establishes instructions for the Board’s committees.

The Board of Directors’ tasks include adopting strategies, business plans and budgets, approving interim reports, year-end financial statements and annual reports, and setting instructions, policies and guidelines. The Board of Directors is also required to follow the financial development of the company and ensure the quality of financial reporting and internal control as well as evaluate the company’s operations based on the Board of Directors’ established objectives and guidelines. The Boardof Directors also decides on major investments and changes in the Group’s organization and operations.

The Chairman of the Board of Directors is in charge of the work of the Board of Directors, responsible for ensuring that the Board of Director’s work is carried out efficiently and that the Board of Directors fulfils its obligations in accordance with applicable laws and regulations. In particular, the Chairman shall, in close collaboration with the CEO, monitor the company’s performance and prepare and chair board meetings. The Chairman is also responsible for ensuring that the Board of Directors evaluates its work each year and always receives the information necessary to perform its work effectively. The Chairman represents the company in relation to the company’s shareholders.