Nordiska's organisation

The General Meeting is Nordiska's highest decision-making body. At a General Meeting, all shareholders are given the opportunity to exercise the influence that their respective shareholdings represent. Rules governing General Meetings, and what is to be dealt with at this meeting, can be found in the Swedish Companies Act and the Articles of Association.

The General Meetings, inter alias, appoints Board members and external auditors, approves annual reports, adopts articles of association, decides on dispositions regarding Nordiska's profit or loss, decides on discharge from liability for the Board of Directors and the CEO and determines remuneration for the Board and external auditors.

The Board of Directors appoints the Chairman of the Board of Directors (unless the General Meeting appoints the Chairman) as well as the CEO. The Board of Directors are responsible for ensuring that Nordiska has functions for internal audit, compliance and risk control. The Board of Directors reports to the General Meeting. The function for compliance and the function for risk control are subordinate to the CEO and reporte to the CEO and Board of Directors in accordance with Nordiska's adopted policies.

The function for internal audit is subordinate to the Board of directors and reports to the CEO and Board in accordance with Nordiska's adopted policies.

The CEO's work is mainly regulated in the Swedish Companies Act and in the CEO instructions adopted by the Board of Directors, as well as Nordiska's adopted policies. The CEO is responsible for ensuring that internal control operates adequately in its day-to-day operational activities. The CEO reports to the Board of Directors on an ongoing basis.

Other functions within Nordiska report directly to the CEO and are divided as follows:

• Legal affairs
• Operations
• Credit
• Finance
• Marketing and sales
• Business and Product development

These are led by a Function Manager.