Board of Directors’ report on Remuneration Committee’s evaluation of remuneration of senior executives

The Board of Directors has formed a Remuneration Committee which, since the 2011 Annual General Meeting, has comprised Göran Carlson (chairman), Magnus Johansson and Anders Thelin. The tasks of the Remuneration Committee include monitoring and evaluating programs of variable remuneration for company management, application of the company’s instructions for the remuneration of senior executives and the remuneration structures and remuneration levels prevailing in the company. In accordance with Rule 10.3 of the Swedish Code of Corporate Governance, the Board of Directors hereby issues the following report on the results of the Remuneration Committee’s evaluation:

The Remuneration Committee considers that the company’s instructions for the remuneration of senior executives, which were adopted by the 2011 Annual General Meeting, have fulfilled their purpose and functioned well. The Committee also considers that the company’s remuneration structures and remuneration levels are well balanced and in line with the market level.