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General Meeting

According to the Swedish Companies Act (2005:551), the shareholders’ meeting is the highest decision-making body, at which the shareholders exercise their voting rights. In addition to the annual general meeting, extraordinary general meetings may be convened. The company’s annual general meeting is held in Växjö prior to the end of June of each calendar year. Extraordinary general meetings are held when necessary.

Right to participate at the annual general meetings

Shareholders who, five weekdays (including Saturdays) prior to the shareholders’ meeting, are registered in the share register maintained by Euroclear Sweden and who, not later than the date stated in the notice of the shareholders’ meeting, have notified Balco of their intention to participate, are entitled to participate at the shareholders’ meeting and to vote for the number of shares held by them. Shareholders whose shares are nominee-registered with a bank or other nominee must, in order to be entitled to participate at the shareholders’ meeting, in addition to informing Balco, request that their shares be temporarily reregistered in their own names in the share register maintained by Euroclear Sweden. Shareholders should inform their nominees in ample time prior to the record date. Shareholders may participate at shareholders’ meetings personally or through a representative and may be accompanied by not more than two assistants. In normal cases, shareholders may give notice of their intent to participate at shareholders’ meetings in several different ways as set forth in the notice to attend.

Shareholders’ right to initiate a matter

Shareholders who wish to have a matter addressed at the shareholders’ meeting must submit a written request to the board of directors. The request must normally be received by the board of directors not later than seven weeks prior to the shareholders’ meeting.