Remuneration Committee

The Remuneration Committee evaluates and consults on matters regarding remuneration and employment terms, and considers proposals and guidelines for compensation to the Chief Executive Officer and senior executives for approval by the AGM. The Remuneration Committee should ensure that remuneration is commensurate with prevailing market conditions for corresponding executives in other companies, and accordingly, that the company’s offering to its employees is competitive. The Chief Executive Officer’s compensation is approved by the Board of Directors. Compensation to other senior executives is decided by the Chief Executive Officer after consulting with the Remuneration Committee.

The Remuneration Committee has the following members: Juan Vallejo (Chair), Adam Philpott and Christian Lagerling.

Audit Committee

The Audit Committee’s duty is to support the work of the Board on ensuring high quality and efficiency within internal controls, financial reporting and external audits. This includes reviewing interim reports and annual financial statements prior to publication, and considering all critical accounting issues and judgments regarding assessments of risk. The Audit Committee meets the external auditor at least once per year and reviews and monitors the auditors’ impartiality and independence, and identifies particularly where the auditor is supporting the company on other services than auditing, and provide support on proposals for AGM resolution and election of auditors.

The Audit Committee has the following members: Alexander Kotsinas (Chair), Christian Lagerling and Dimitrij Titov.