The audit committee’s main tasks are to monitor the Company’s financial reporting, and in respect of the financial reporting, monitor the efficiency of the Company’s internal controls, internal audits and risk management, keep itself informed regarding audit of the annual report and group accounts, review and monitor the impartiality and independence of the auditor, and assists in conjunction with preparation of proposals to the general meeting’s resolution regarding election of auditors and compensation to the auditors.

The audit committee and the board regularly receive presentations from the Company’s auditor, which ensures that the Company’s internal and external reports fulfill the requirements of a company whose shares are listed on a regulated market.

The Board has decided not to appoint a separate Audit Committee; the tasks of the Audit Committee are performed by the entire board. Johan Stuart presides over the management of issues under the purview of the Audit Committee.

The company’s auditor must participate in at least one Board meeting.