Axelent Sustainability report 2022

The future is here Sustainability Report 2022

Our vision

Create

the world’s safest workplaces by always putting people first.

Who we are

Axelent Group consists of five companies: Axelent AB, Axelent Safe-X AB, Axelent Engineering AB, Axelent WireTray AB, and Axelent Solutions AB. These five companies share the vision of making the Swedish industry competitive through automation, safety, efficient processes, functionality, and expertise.

Axelent AB is the largest company within the group, and we have always taken pride in developing innovative, user-friendly, and easy-to-install products. Safety has been our highest priority since our foundation in 1990. We are proud to provide products that offer a secure working

environment for employees in production and warehouses. For us, safety is not just about offering safe products, but also about sharing our knowledge and experience to reduce risks for our customers and colleagues.

Our headquarters are located in Hillerstorp, Sweden, where we develop and manufacture all our products. Axelent AB Group consists of 10 wholly-owned subsidiaries in Europe, Asia, Australia, and the USA. However, we also distribute our products through agents worldwide.

Today, we produce and sell products in a wide range of areas, including machine guarding, storage, impact protection, storage systems, and bicycle racks. We take pride in driving our industry forward and offering innovative solutions to create a safe working environment for everyone.

333 Employees

16,6% Profitability

139 Milion SEK in revenue

1

+20% Growth

From vision to reality

As we reflect on the past year for Axelent, we can proudly say that it has been a successful year. We have not only established new business relationships but also expanded our workforce and launched our own product range for impact protection. It’s great to see how our daily work has made a difference for more and more customers who now feel safe in their work environments thanks to our products.

Over the past year, Axelent has undergone a strategic transformation that has focused on development, synergies, and digitalization. It is important for us as a company to be open to changes in order to meet the challenges that the future brings. At the same time, it is also important for us to preserve our strengths, traditions, and values that have been part of our history and have shaped us into the company we are today. It is a delicate balance that requires courage, creativity, and a deep understanding of our history and culture. We have always had a special relationship with our customers, and it is important for us to maintain that sense of personal commitment and care that our customers appreciate.

We look forward to the upcoming year, and we are determined to continue making significant progress and strengthening our position in the market.

I am proud to be a part of Axelent and to know that we are working to make a real difference in the world. Prioritizing safety in everything we do is incredibly important, not just for me but also for my colleagues. I believe that when we take care of our planet and each other in a responsible way, we create a better future.

In terms of sustainability, we have taken significant steps forward. We have revised our strategy and set ambitious long-term goals to meet the demands placed on us both internally and externally. We know that the entire business community must work together to achieve the climate goals, and we are committed to be a contributer to this change.

We have also conducted comprehensive energy assessments at our facility, and we have already seen the results of this work with a 12% reduction in electricity consumption in 2022. We have also conducted a carbon footprint calculation to identify concrete actions to reduce our carbon emissions. This is just the beginning of our journey towards a more sustainable future.

At Axelent, we have a vision to create the world’s safest work environments by offering innovative and high-quality safety solutions to our customers. We actively work to drive industry development forward, always focusing on the individual and their safety. By creating safe and healthy work environments, we promote productivity and well-being, both for ourselves and for our customers. This is what drives us at Axelent, and we look forward to continuing to make a difference together.

I am excited about the future with Axelent, where we continue to evolve and adapt to a changing world while

preserving our traditions and core values. We have an exciting journey ahead, and I am proud to be a part of this company and our pursuit of making a positive difference.

Together, we are turning vision into reality!

Best regards,

Karin Sandén Ahlqvist CEO at Axelent AB

2022 in review

142,890 kWh produced through our own solar panels

2,595,954 kWh produced through our own* wind power

The energy usage per produced kilogram is 1.2 kWh

6.24 emissions per kilogram produced for our mesh walls

All components of our new impact protection system are recyclable

One Axelent

In 2022, we introduced One Axelent, a strategy that outlines how our offerings and brand can evolve as the world around us changes. It also focuses on how we can improve together by finding synergies among our companies and colleagues, and how knowledge and expertise can be shared to make us stronger tomorrow than we were yesterday. The One Axelent strategy is an ongoing development that provides us with the means to drive Axelent forward.

We strive to become the preferred partner for all our customers by continuing to grow and invest in productive solutions and products. By strengthening our growth and enhancing our products, manufacturing, and organization, we create room for a more sustainable and

high-quality experience of Axelent and our products and services. Our strategy focuses on four areas:

• Growth

• People

• Our customer

• Innovation

Dialogues

To define our priorities regarding sustainability issues, it is important for Axelent to consider our various stakeholders. These stakeholders are affected by our operations and activities and, in turn, also influence Axelent. Therefore, it is crucial to pay special attention to the key stakeholders in this work.

Subjects

Our customers

Our sales teams have an ongoing dialogue with our customers about subjects such as health and safety and general customer requirements. Additionally, our customers regularly conduct audits on us. We also engage in a dialogue with our customers regarding our sustainability efforts through our website and other digital channels.

Our employees

We maintain a constant dialogue with our employees through workplace meetings, employee surveys, and individual employee discussions where we follow up on key performance indicators, as well as opportunities for development and skill enhancement.

Our suppliers

Continuous dialogue between our procurement team and our suppliers regarding topics such as supplier performance, supplier capacity, and supplier assessments.

Our community

We are in dialogue with the municipalities and regions where we operate. We also collaborate with universities, high schools, and elementary schools. These collaborations are done at the local level, and our involvement is tailored accordingly.

Our owners

We have ongoing meetings with our owners, both in board meetings and in our day-to-day work.

• Environmental sustainability and emissions

• Product features; lifecycle, safety

• Health and work environment

• Code of conduct, ethics, and human rights

• Supplier management

• Environmental impact

• Skill development

• Gender equality

• Diversity and equal opportunities

• Ethics

• Code of conduct, ethics, and human rights

• Environmental impact

• Health and safety

• Environmental impact

• Employer branding

• Gender equality

• Ethics

• Health and safety

• Environmental impact

• Employer branding

• Diversity and equal opportunities

• Ethics

• Risk management

• Social engagement

-3%

Energy consumption

Our goal is to annually reduce by 3% measured in kWh per kilogram produced.

Safety

People’s health, safety, and well-being are our top priority. We have a clear zero-accident vision in our workplace.

100% 100%

Own energy

Our goal is to produce as much energy as we consume by 2025.

Sustainability risks and risk management

Our suppliers

Shortcomings in suppliers’ sustainability work

Axelent conducts ongoing audits of new and existing suppliers to ensure that they comply with the requirements of our code of conduct, both in terms of environmental aspects and respect for human rights. As much as 90% of our suppliers are located within a 10-mile radius of our manufacturing facilities. We always strive to use local suppliers, aiming to reduce environmental impact and establish long-term partnerships based on our values. Currently, we assess the risk of shortcomings in suppliers’ sustainability efforts as low, as we have proximity, good control, and follow-up over our supplier base..

Our employees

Ethics

We strive to promote a high ethical standard in all our commercial relationships and combat bribery, corruption, and other forms of unethical behavior. No cases have been reported through our whistleblower function.

Environmental risks

We continuously review and assess our suppliers.

Work environment

For us, safety is always a priority, as well as the health and well-being of our employees. We have a clear zero-accident vision in our workplace and continuously work to identify potential risks and take preventive measures. We engage in systematic safety work through our safety committee, which collaborates and coordinates actions to prevent accidents and ill health in the workplace. This is done through various means such as training, regular inspections, work instructions, protective equipment, and ergonomic aids.

Environment

To reduce our environmental impact and create a safe and sustainable working environment, we work on sorting and energy recovery of our waste, as well as efficient recycling of residual metal waste. We have clear procedures and training programs for chemical and waste management to safely minimize risks to health and the environment.

Ethics

As an employee within Axelent Group, it is of utmost importance that we maintain a high standard of integrity and ethics. It is strictly forbidden to give or receive any form of bribery. Bribery can take the form of gifts or other benefits intended to influence decision-making in a favorable direction. By adhering to our code of conduct, we can guarantee that our business relationships are built on fairness, honesty, and transparency, and that we continue to uphold high ethical standards within the company.

Risk description

Our manufacturing

Environment

Our customers

Work environment

Risk management

We focus on developing common work methods and processes, aiming to work according to best practices. We place great emphasis on ensuring that our machinery consists of high-performance equipment with a long lifespan and minimal maintenance, which contributes to higher efficiency and optimal, sustainable usage.

Environment

We create products that enable safe working environments for our customers, thereby minimizing accidents. Our products are tested according to standards.

Our customers can trust that we always consider the environmental perspective when developing new products and strive to reduce material usage.

Ethics

We actively work to combat corruption and bribery by identifying, understanding, and assessing the risks of corruption and implementing internal controls.

Our products Safety & Materials

Our transports Emissions

By utilizing high-strength materials and optimizing the design of our products, we can create a sustainable and efficient design. We also conduct regular testing to ensure that our products meet high performance requirements while minimizing material usage.

Our transportation activities contribute to carbon dioxide emissions that have a negative impact on the environment. Axelent aims to work with fewer and larger transport providers, and our goal is to maximize the load capacity in deliveries as much as possible. By doing so, we strive to reduce the environmental impact of our transportation operations.

Present and future

CURRENT SITUATION & NEXT STEPS

Completed activities in 2022

Energy mapping conducted at our facility

Implementation of a new external whistleblower function

Stakeholder analysis

Risk analysis

Climate calculation

Communication and work on Axelent’s values internally

Key performance indicators (KPIs) for HR monitoring and management

Sponsorship policy

Update of our Code of Conduct

Next steps 2023

Develop a vision and strategy for our ongoing sustainability work, a five-year plan, and relevant key performance indicators for each focus area. This includes environment and climate, social conditions, ethics, and human rights.

Update all policies.

Implement a digital training portal for our employees.

Implement an anti-corruption policy and training.

Require suppliers and agents to sign our code of conduct, which includes guidelines for environment, human rights, ethics, and social conditions.

Introduce a new policy and assessment process for Responsible Sales. Our challenges include identifying risks and influencing the behavior of other parties, even when it is beyond our direct control, including our agents. This includes environmental requirements and respect for human rights.

Our focus areas

Sustainability is a central part of Axelent and the value we create for our stakeholders. For us, sustainable development means taking steps towards a healthier and more prosperous world - for both current and future generations.

A sustainable society balances the needs of society, the environment, and the economy. At Axelent, we achieve this by incorporating sustainability throughout our value chain and by offering our customers solutions that preserve the Earth’s natural resources, keep people safe, and promote a vibrant, low-carbon society.

Our focus on sustainability also includes a commitment to responsible business practices. At Axelent, we build our corporate governance and business model on integrity and transparency. Promoting social development for our employees and in the communities where we operate is central to our purpose and our identity as a company.

Axelent has identified three focus areas for our sustainability efforts. These focus areas provide us with different perspectives on how we contribute to a safer and more sustainable world.

Reduced Climate and Environmental Impact

Our goal is to limit our negative environmental footprint while our business continues to grow. We are committed to reducing our greenhouse gas emissions throughout the company’s value chain, from our procurement processes, through our own operations, and ultimately post-use.

People at the Center

With clear values and a strong culture, we aim to become the most attractive employer in our industry, providing the best and safest possible work environment. Our approximately 300 employees are driven to grow and make a difference, seeking innovative solutions, always with the best interest of our customers in mind.

Community Engagement

Axelent has never been a company whose sole purpose is to sell as many products as possible. We value our roots and social responsibility, and see ourselves as part of a larger context.

United Nations Agenda 2030

The UN and world leaders have agreed upon 17 goals and 169 targets to address the most urgent social, economic, and environmental challenges by the year 2030. Based on Axelent’s identified focus areas, we have analyzed the company’s impact on the UN’s Sustainable Development Goals (SDGs) and determined the most relevant goals that are linked to our operations and where we can have the greatest positive impact.

#3 Good health and well being

One of our main focuses is to ensure health and well-being for all individuals and create a safe and healthy work environment. This includes both our own employees and our customers.

#12 Responsible consumption and production

As a producer, Axelent contributes to a more circular society by designing products that facilitate easier reuse. We also continuously work towards using less material in our production processes.

#5 Gender equality

All employees have the right to equal opportunities and advancement within Axelent, strictly based on merits, performance, and professional qualifications. We have a strong culture of diversity and inclusion that welcomes individuals from all backgrounds and lifestyles.

#8 Decent work and economic growth

Axelent is responsible for ensuring that all employees have good and fair working conditions, access to education, and a safe and secure work environment. We collaborate with other companies and organizations to create more sustainable and stronger societies and economies.

#13 Climate action

Axelent actively works to reduce our emissions, energy consumption, and use of natural resources to contribute to combating climate change and global warming.

Energy consumption

The energy consumption of our operations has an impact on the environment, and therefore, there is ongoing work to reduce it. During the year, we conducted an energy survey, which resulted in a 12% reduction in energy consumption compared to 2021, despite producing more weight. For 2022, the energy consumption amounted to 1.2 kWh per produced kilogram (wire and tube). Our goal is to annually reduce it by 3% measured in kWh per produced kilogram.

Axelent’s energy consumption primarily pertains to the operation of our production facility. Our premises are heated using geothermal energy, which involves several drilled holes in a small area. We also utilize water for cooling machines and offices. This way, we harness the heat from the holes and use it for heating later on. Axelent owns shares in wind power and has its own solar panels, which accounted for 88% of Axelent AB’s consumption in 2022 (73% in 2021). Our goal is to reach 100%.

ENERGY CONSUMPTION PER PRODUCED KILOGRAM

1,2 kWh / kilogram

PERCENTAGE OF OWN WIND AND SOLAR POWER OF ENERGY CONSUMPTION

88%

Recycling and waste

Axelent strives for high resource efficiency in the use of natural resources. As part of this effort, we promote systems for recycling and reusing materials. Axelent’s mesh panels are 100% recyclable, and we collaborate with market-leading players in the recycling industry.

We continuously work on streamlining our processes and manufacturing methods to minimize waste and scrap during production and improve raw material utilization.

We take responsibility for minimizing our impact on the environment and using fewer resources, as well as more environmentally friendly materials in our products, to protect our planet, nature, and biodiversity. We are committed to maintaining a high level of environmental sustainability and utilizing our resources in the best possible way. Each employee has a crucial role to play in fulfilling this commitment in our daily work.

Reduced climate and environmental impact

Climate calculation

For the year 2022, Axelent conducted its first Climate Calculation according to the GHG Protocol to gain greater transparency and understanding of the climate impact of the business. We also assessed our climate impact for the year 2021.

Scope 1 includes direct emissions from sources owned/ controlled by the company (e.g., emissions from inhouse energy production such as electricity and heat generation, emissions from fuel consumption of owned vehicles, and emissions generated in the manufacturing process).

Scope 2 includes indirect emissions from purchased energy.

Scope 3 includes other indirect emissions. These are a result of the company’s activities but come

EMISSIONS/PRODUCED KILOGRAM (CO2) FOR MESH PANELS

6,24

Our logistics

Optimizing our transportation is a central concern for us. To maximize the use of transport space, we actively work on optimizing our packaging and pallets for efficient packing. By maximizing the load capacity and strategically managing our deliveries, we can contribute to reducing the environmental impact of our transportation. Our deliveries primarily take place by sea or road, while short-distance deliveries to customers are made by road. We primarily collaborate with environmentally certified transporters who have specific goals and guidelines for actively reducing their environmental impact. In the event of delays or urgent needs, we occasionally resort to express deliveries by air or road. However, we continuously strive to minimize our negative environme -

from sources that are not owned or controlled by the company. Examples include transportation, business travel, raw material extraction and production in the supply chain, production and transportation of the fuels burned in the company’s vehicles, etc.

In summary, from the calculation, we can conclude that the emissions from scope 3 in 2022 decreased by 14.67% compared to 2021. Scope 3 accounts for the majority of the company’s emissions. The activity that contributed the most emissions in scope 3 in 2022, and thus had the largest climate impact, was the purchase of goods and services, followed by freight transportation. While purchased goods accounted for almost 84% of the emissions in scope 3, purchased services accounted for nearly 14%. Freight transportation represented just over 1.5%. For Axelent, it is important for us to explore our use of green or recycled steel to reduce our climate impact, along with developing products that require less material consumption.

ntal impact by limiting the use of air and express freight and maximizing the load capacity in our transports.

Personal transportation accounts for a smaller portion of our carbon dioxide emissions from transportation. Nevertheless, it is an aspect we actively work on to maximize our contribution to a more sustainable environment. We make extensive use of video conferences to minimize personal transportation. We have also adopted a new policy for company cars in Sweden, aiming to utilize environmentally friendly vehicles. By implementing such measures, we can take a step towards a more sustainable future.

Product development

We place great importance on optimizing our products to achieve maximum sustainability in their lifecycle and material usage, while still maintaining their purpose of protecting people. Sustainability is always a central factor in the development of new products, and our goal is to minimize environmental impact without compromising the functionality and performance of the product.

As an example, in 2022, we launched our own impact protection system where all parts are recyclable, and we have enabled customers to easily replace a part in the event of damage, extending the lifespan of the products.

Our suppliers

We place great importance on optimizing our procurement processes to reduce our environmental impact while maintaining high product quality. A crucial part of this process is ensuring that our suppliers meet our high standards for sustainability and social responsibility. We strive to collaborate with local suppliers to reduce our transportation footprint and promote our region.

We maintain strong and long-term partnerships with our suppliers, focusing on mutual support, open communication, and business ethics. To ensure high product quality and compliance with our standards, we conduct regular supplier assessments. We also categorize our suppliers from strategic partners to potential partners based on their ability to deliver goods and services that meet our high requirements.

We expect our suppliers to uphold the same high standards as we do in terms of environmental responsibility, human rights, working conditions, health, and safety. Together with our suppliers, we aim to promote sustainability throughout the supply chain and reduce our overall environmental impact.

Focus on people

Work environment

A systematic work environment approach involves, in daily work, recognizing and taking into account all conditions in the work environment that can affect the health and safety of co-workers. In line with Axelent’s vision of creating the world’s safest workplaces, Axelent aims to be best-in-class when it comes to the internal work environment. Efforts to promote good health and work environment are ongoing at various levels and in different forums. At Axelent, all employees should feel safe and well.

Through the company’s work environment delegation and safety committee, Axelent ensures that the company has a systematic work environment approach, that the company’s work environment policy is up-to-date and known throughout the company, and that risk assessments are conducted. We have a clear zero-tolerance policy regarding accidents in our workplace and closely follow up on each incident and

accident to prevent them from recurring, as well as implementing preventive activities.

The number of accidents, incidents, and absences is monitored monthly in the management group. In 2022, Axelent defined a rehabilitation process to ensure the management of both short- and long-term sick leave with clearly defined responsibilities. All personnel with managerial responsibilities receive training in the process to ensure consistent handling throughout the company. The rehabilitation process is documented and accessible to all employees through Axelent’s internal communication channel, Sharepoint.

We do not tolerate violence in the workplace, including threats, intimidating behavior, harassment, insults, and similar actions. We are committed to creating a safe workplace for everyone and maintaining our high standard of safety.

Since our foundation in 1990, our mission has been to protect people. Through our products, we create a safe working environment for employees in production and warehouses. We take pride in setting a good example and strive to make our own facility a secure workplace. In this way, we uphold our own principles and values while safeguarding those who work with us.

The customer’s work environment

A safe working environment should be considered a human right. While poor occupational safety and health incur costs, a well-managed one can become a growth opportunity. Companies with higher safety and health standards are thus more competitive and sustainable. Through our products, we contribute to an important part of their sustainability efforts. We see occupational safety and health as a win-win situationone that provides benefits for both employees and the company’s economy and long-term sustainability.

Equal opportunities

We are a global company with employees from many different countries, backgrounds, and cultures. We believe that our diversity and the commitment of our employees are a strength and competitive advantage. Mutual respect and tolerance are fundamental to how we work and communicate with each other. We believe that competence, commitment, performance, and potential should guide our employment-related decisions, such as recruitment, talent management, training opportunities, and promotions. We comply with applicable labor and employment laws in the jurisdictions where we operate, including regulations regarding wages and working hours, collective

For us, it is also important to share our knowledge and expertise, and we aim to turn complexity into simplicity. On our website, we have gathered all our knowledge on how the customer can protect their personnel, as well as information on machinery safety standards and achieving the highest level of machine safety on our safety portal. We also offer the opportunity to ask questions to our safety experts.

agreements, non-discrimination, and similar employment rules.

Our ambition to be an inclusive and equal workplace aims to provide equal opportunities for all, regardless of their background or location in the world. We want all our employees to feel valued and safe, and to be able to contribute in the best possible way without ever being subjected to harassment or discrimination.

We strive to treat our employees with respect and fairness, without discriminating based on gender, race, religion, age, disability, sexual orientation, nationality, political opinion, union affiliation, social or ethnic origin.

37,5% of Axelent’s board members are women

50%

53% of Axelent’s managers at the headquarters are women

34% of Axelent’s management team are women

of Axelent’s employees at the headquarters are women

Development opportunities

At Axelent, we believe that our employees are our greatest asset, and we strive to provide them with opportunities to develop and grow in their professional roles. We are not only focused on growing as a company but also on helping our customers, suppliers, and, most importantly, our employees to grow and succeed. As true entrepreneurs, we are convinced that sustainable growth is achieved by allowing space for personal and professional development.

We invest in training and further education, internal career opportunities, and a culture that encourages creativity and innovation. We believe that this benefits not only our employees but also promotes our company culture and strengthens our position in the market.

Business ethics

We strive to conduct our business relationships in a manner characterized by honesty, respect, fairness, and integrity. All companies within the Axelent Group are committed to complying with laws and regulations in the jurisdictions where we operate. We commit to not offering or accepting any rewards or benefits from customers and other business partners that contravene applicable laws or our code of conduct.

Trust, respect, integrity, and honesty are fundamental values for us. We believe that all forms of corruption undermine our goal of conducting good business. Within our group, the best interests of the group always guide our business decisions. We ensure that decisions are based on objective factors and not on personal considerations or relationships. We have not encountered any cases of corruption within our organization.

Human rights

To prevent risks related to human rights, we work to comply with national legislation and international agreements on human rights. Axelent has procedures for assessing and selecting suppliers and contractors based on their ability to meet the requirements of Axelent’s Code of Conduct, and we follow up on them through audits to ensure their respect for human rights. We believe in collaborating with our suppliers to find realistic solutions. We take into account cultural differences and other factors between countries, but we never compromise when it comes to safety and human rights. We continuously strive for zero tolerance towards corruption and work for human rights. We are working on developing relevant measurable key performance indicators as part of our forward strategy, as outlined on page 14.

Axelent is a company that strives to be more than just an employer or a provider of products and services. We want to be a positive force in the communities where we operate, and we see it as an important part of our business to contribute to society in various ways. Our commitment to charity projects and sponsorship is part of our vision to create a sustainable and positive future for all. We believe that as a company, we have a responsibility to be part of the solution to the challenges society faces today, and that our involvement can inspire others to do the same.

Community engagement

Local engagement

For Axelent, good relationships are crucial for long-term success, regardless of where we operate. We are aware that each community is unique, and therefore, we have a policy that each company within Axelent should strive to understand the society around us.

We believe that it is important to build relationships based on mutual respect, trust, and understanding. By understanding the cultural and social norms, as well as

Sponsorships

Axelent strives to effectively conduct its core business as the most significant contribution to the communities where it operates. However, as we value social, ethical, and environmental sustainability, we also provide significant room for local engagement in charity and sponsorship in the workplace.

Our sponsorship and donation commitments are managed by our local business units and focus on programs that support sports, culture, education, and other social or humanitarian initiatives. Our goal is to make a positive difference for individuals or teams by providing them with better opportunities to pursue their sport.

Charity work

Since the early 1990s, Axelent has been committed to seeing the bigger picture and looking beyond their own operations. An important part of our CSR strategy has always been to be an engaged and positive force in the communities where we operate. We feel a social responsibility towards people who are less fortunate and, for various reasons, are not as fortunate as we are.

For us, it’s about making a real difference in people’s lives. This can take the form of various charitable projects or sponsorship in culture, sports, and education. One

the political and economic circumstances in each community, we can create a more meaningful and longlasting presence. At Axelent, we actively work to engage with the community around us, not only by contributing to the local economy but also by supporting local initiatives and projects. Through our involvement, we want to demonstrate that we are part of the community and that we are committed to making a positive difference.

We are particularly aware that female athletes often face more challenging conditions than male athletes, with lower salaries, prize money, and limited training opportunities. Therefore, supporting female athletes in women’s sports is an important part of our sponsorship strategy.

At Axelent, we want to do our part in promoting gender equality and providing support to those striving to achieve their dreams and goals. Through our engagement, we hope to make a real difference for them.

example of our long-term commitment is the support for the DGSS orphanage in Egypt, where children in need are given a chance to escape poverty and life on the streets.

Through our engagement, we want to contribute to a more just and sustainable world. We believe that we can make a difference by collaborating with organizations and groups working towards a better future and by supporting projects that promote social and humanitarian initiatives. For us, this is a matter of course and a natural part of our social responsibility.

The auditor’s opinion on the statutory sustainability report

Assignment and Responsibility Allocation

It is the responsibility of the board of directors to prepare the statutory sustainability report for the year 2022 and ensure that it is prepared in accordance with the Annual Accounts Act.

Scope of the Audit

Our audit has been conducted in accordance with the recommendation RevR 12 from the Swedish Association of Auditors (FAR) regarding the auditor’s statement on the statutory sustainability report. This means that our audit of the sustainability report has a different focus and significantly less scope compared to an audit conducted in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. We believe that this audit provides us with sufficient basis for our statement.

Statement

A sustainability report has been issued.

Jönköping 20230607 PwC

Sweden

Daniel J. Lützen Authorized auditor