The audit committee

The audit committee is responsible for monitoring the Company's financial reporting, risk management and internal control, as well as accounting and auditing. The audit committee also reviews and monitors the auditor's impartiality and independence, other services provided by the Company's auditor and assists the Company's nomination committee with the proposal for election of auditor.

The audit committee is to comprise three members of whom the majority are to be independent in relation to the Company and its executive management, and at least one of the members that are independent in relation to the Company and its management must also be independent in relation to the Company's major shareholders. The members of the committee shall also possess competence and experience within accounting, auditing and/or risk management allowing them to fulfil the obligations of the committee.

The current audit committee consists of three members: Peter Törnquist (chairman of the audit committee), Gustaf Martin-Löf and Satu Huber, all of which are independent to the Company and its executive management. Satu Huber is also independent of the Company's major shareholders.