Remuneration Committee

During 2023, the Remuneration Committee consists of Anna Belfrage, Johan Hagberg and Bahare Mackinovski.

The duties of the Remuneration Committee are to:

• Consult on matters regarding remuneration principles, remuneration and other employment terms for group management.
• Monitor and evaluate programmes for performance-related pay for group management, subsidiary Presidents and other key staff.
• Monitor and evaluate application of the guidelines for remuneration to senior management that the AGM has resolved on and applicable remuneration structures and remuneration levels in the company.

In the financial year, the Remuneration Committee discussed remuneration issues and monitored compliance with adopted guidelines.

The following main issues were considered:

• Evaluation and approval of remuneration structures for the group management.
• Specifying the profitability-based, variable remuneration programme for group management, subsidiary presidents and other key individuals, which ran during 2023.

After an evaluation, the Remuneration Committee concluded that:

• NOTE is following the guidelines for remunerating senior management that the AGM 2023 resolved on.
• Applicable remuneration structures and levels are reasonable against the background of the company’s operations.
• Compensation from the profitabilitybased, variable remuneration programme that ran during 2023 for group management, subsidiary presidents and other key individuals amounted to SEK 5.2 million excluding social security contributions.