Remuneration Committee

In 2025, the Remuneration Committee consisted of Anna Belfrage, Johan Hagberg and Egil Dahl.

The tasks of the Remuneration Committee are to:

• prepare decisions on remuneration principles, remuneration and other terms of employment for the Executive Board
• Monitor and evaluate variable remuneration programmes for the Executive Board, subsidiary managers and other key staff.
• monitoring and evaluating the application of the guidelines for remuneration of senior executives decided by the annual general meeting and the current remuneration structures and levels in the company

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

The following main issues have been addressed:

• Evaluation and approval of the remuneration model for the Executive Board.
• Determination of the profitability-based variable remuneration programme for the Executive Board, subsidiary managers and other key staff, which ran during 2025.

After evaluations, the Remuneration Committee has concluded that:

• NOTE complies with the guidelines for remuneration of senior executives adopted by the 2025 AGM.
• The current remuneration model and levels are reasonable in light of the company's activities.
• Remuneration under the profitability-based, variable remuneration programme that ran during 2025 for Group management, subsidiary managers and other key employees amounted to SEK 5.9 million excluding social security contributions.