Corporate governance

The company is a Swedish public limited liability company. The company’s governance is based on, inter alia, the Swedish Companies Act, the Annual Accounts Act, the First North rulebook, as well as internal rules and regulations. Governance of Calviks is exercised through several bodies. At the general meeting, shareholders exercise their voting rights regarding the composition of the board of directors and through the election of auditors. The duties of the board of directors are prepared in part through the company's chief executive officer. The chief executive officer is responsible for and manages the day-to-day operations in accordance with the guidelines of the board of directors.

The Swedish Corporate Governance Code (the ”Code”) applies to Swedish limited liability companies whose shares are admitted to trading on a regulated market in Sweden, currently Nasdaq Stockholm and NGM Main Regulated. Calviks is therefore not formally covered by the Code as the Company's shares are not intended to be admitted to trading on a regulated market. The Board of Directors has not currently chosen to apply the Code, but may choose to apply the Code in the future.