Welding fume extraction solutions

Auditor

The auditor shall examine the Company’s annual report and accounts, as well as the management conducted by the Board of Directors and the CEO.

After each financial year, the auditor shall submit an audit report to the AGM. From 2011, the AGM appoints the auditor(s) for a period of one year. At the AGM held on 20 April 2016, Ernst & Young AB was elected with Staffan Landén as auditor in charge until further notice. Staffan Landén is an authorized public accountant and member of FAR (the institute for the accounting profession in Sweden). Staffan Landén has many years of experience auditing listed companies and major international audit assignments. He is currently the responsible auditor for, among other companies, Vattenfall AB, Capio AB, Academic Media AB, Papyrus AB, Thomas Concrete Group AB and National Electric Vehicle Sweden AB (NEVS). Staffan Landén is an exchange auditor appointed by Nasdaq Stockholm.

The Company's auditor reviews the annual accounts and annual report and the Company's ongoing operations and procedures in order to express his opinion on the financial statements and the management by the Board of Directors and the CEO. The audit of the annual accounts and annual report is carried out in January-February. In addition to Nederman, Staffan Landén is the auditor for Oxeon AB in which Latour AB has a 31.08 percent shareholding. Independence in regard to Nederman is not affected. Otherwise, Staffan Landén has no assignments in companies over which Nederman's principle shareholders, Board members or the CEO have any significant influence.