News release from the 2015 Annual Meeting of shareholders of Beijer Ref AB (publ)

April  09, 2015

Today, 9 April 2015, Beijer Ref AB (publ) held its Annual Meeting of shareholders for the 2014 financial year.

The Annual Meeting adopted the submitted profit and loss accounts and balance sheets for the Group and the parent company. The Board Members and the Chief Executive Officer were discharged from liability.

The Annual Meeting endorsed the Board of Directors’ proposal for a dividend of SEK 5 per share for the 2014 financial year and 13 April 2015 as the record day. The dividend is expected to be remitted by Euroclear Sweden AB on 16 April 2015.

In his speech at the Annual Meeting, the CEO of Beijer Ref, Per Bertland, gave an account of the company’s operation during 2014.

In addition, the Annual Meeting of shareholders passed the following resolutions:

That Bernt Ingman is appointed as Chairman of the Annual Meeting.

That the Board of Directors shall consist of seven Board Members and no Deputy Board Members.

That Peter Jessen Jürgensen, Bernt Ingman, Joen Magnusson, Philippe Delpech and William Striebe are re-elected as Board Members, that Frida Norrbom Sams and Monica Gimre are elected as Board Members and that Bernt Ingman is elected as Chairman of the Board.

That the Directors’ fees shall be SEK 1,650,000. The Chairman will receive SEK 550,000 and the Board Members who are not employed in the company or within the Carrier Group will receive SEK 275,000 each.

That the remuneration of the Auditors will be paid in accordance with the submitted quotation.

That the registered public accounting firm, PricewaterhouseCoopers AB, Malmö, is re-elected, with the Authorised Public Accountant, Lars Nilsson, as auditor in charge.

That senior executives shall be allowed to participate in a bonus scheme expected to comprise 42 persons in the Group, including the senior executives. The scheme shall run for three years between 1 January 2015 and 31 December 2017. On a maximum outcome, the scheme is estimated to give the senior executives a total of one year’s salary each during the three-year period. The calculation of the outcome is made on the basis of predetermined targets.

That guidelines are adopted for remuneration and other terms of employment for senior executives. The remuneration shall consist of a fixed salary, a variable salary, a pension and other remuneration such as a company car. The total remuneration shall be on market terms and support the interest of the shareholders by enabling the company to attract and retain senior executives. The fixed salary is to be renegotiated annually and takes into account the area of responsibility, competence, performance and experience of the individual. The variable salary is based on the outcome in relation to set financial targets. The individual will receive a maximum amount equivalent to ten months’ salary. An amount equivalent to 26 per cent of the gross salary is appropriated annually for the CEO and a maximum amount equivalent to 24 per cent of the gross salary is appropriated annually for the other Swedish Members of the Executive Management. For senior executives outside Sweden, other terms may apply as a consequence of legislation or market practice. Where notice of termination is given by the company, the CEO of Beijer Ref will receive 24 Months’ salary and the other

Members of the Executive Management 12 months’ salary, including salary at notice. Notice of termination by the CEO or other Members of the Executive Management does not trigger any severance pay. Senior executives can give six months’ notice. The Board of Directors prepares matters of remuneration and other terms of employment for the Executive Management and the Board of Directors as a whole constitutes the Remuneration Committee. The CEO does not participate in the work. The Board of Directors may abandon these guidelines if there are specific reasons for it in an individual case.

Malmö, 9 April 2015
Board of Directors
Beijer Ref AB (publ)

For further information, please contact:
Per Bertland, CEO
Telephone +46 40-35 89 00
Mobile +46 705-98 13 73

or
Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04

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