Independence assurance

March  19, 2018

To the Audit Committee of Beijer Ref AB (Publ), 556040-8113.

Confirmation regarding impartiality and independence according to the European Parliament’s and Council’s (EU’s) Regulation Nr 537/2014 and the International Standard on Auditing (ISA 260).

Confirmation of impartiality and independence
Our assessment is that the auditing firm and audit team are impartial and independent to the degree required in applying the framework in question and that, therefore, there is no hinder to perform the audit assignment.

Key auditors who have participated in the audit

- Lars Nilsson, Engagement Partner

- Mikael Nilsson, Engagement Director

- Mats Åkerlund, Quality Risk Partner

Reporting of circumstances which can be of significance as regards impartiality and independence, and reporting of the services provided

In the auditing firm and in the network to which the firm belongs, there are processes and routines to ensure the auditor’s impartiality and independence. For more information, refer to the annual report of the auditing firm in which it presents its operations and which is available on the auditing firm’s web site.

A control has been undertaken to identify any possible threats of significance to the assessment of the impartiality and independence of the auditing firm and audit team in relation to the audit client. Nothing has come to ourattention that gives rise to the need to report to the Audit Committee.

For the financial year 2017 compensation paid by Beijer Ref Group to the audit firm amounted to 8 937 SEK specified as follows:

· Audit assignment (TSEK 6 278)

· Other statutory assignments (TSEK 581)

· Tax advisory servfices (TSEK 1 000)

· Other services (TSEK 1 078)

Estimated effects of the provision of non-audit services which are allowed according to Art. 5.3 (Auditors Ordinance)

Our assessment is that the tax and valuation services provided to the audit client during the financial year have had an insignificant or no direct impact on the financial reports.

Malmö, 7 March 2018
PricewaterhouseCoopers AB

Lars Nilsson    
Authorised Public Accountant      

Mikael Nilsson
Authorised Public Accountant