Board Comittees

The Board has established an Audit Committee under the Swedish Companies Act and a Remuneration Committee under the Code.

The current composition and duties of the committees are described below.

Audit Committee

The Company has an Audit Committee consisting of three board members: Lennart Pihl (Chairman), Charlotte Darth and Christian Hammenborn. The duties of the Audit Committee are set out in the rules of procedure, which are established annually. Without affecting the Board’s responsibilities and other duties, the Audit Committee shall, among other things, monitor the Company’s financial reporting; monitor the effectiveness of the Company’s internal controls, internal audit and risk management; remain informed of the audit of the annual accounts and the consolidated accounts; monitor the management of related transactions; review and monitor the impartiality and independence of the auditor, paying particular attention to whether the auditor provides the Company with services other than auditing services; and assist in preparing proposals for the election of auditors at the Shareholders’ Meeting.

Remuneration Committee

MilDef has a Remuneration Committee consisting of two board members: Björn Karlsson (Chairman) and Jan Andersson. The duties of the Remuneration Committee are set out in its rules of procedure, which are established annually. The Remuneration Committee shall prepare proposals regarding remuneration principles, remuneration and other terms of employment for the Company’s senior executives. The Remuneration Committee also has the task of tracking and evaluating the Company’s ongoing and completed programs for remuneration to senior executives over the year, as well as the application of the guidelines for remuneration to senior executives that the Shareholders’ Meeting is required to decide by law, as well as the applicable remuneration structures and levels in the Company.