Remuneration of the Senior Management

The Board of Directors has established guidelines for the remuneration of the members of the Senior Management. These guidelines are presented to and approved by the Ordinary General Meeting and are described in the “Statement Regarding Determination of Salary and Other Benefits for Senior Management” which is included in “Board of Directors’ Statement on Policy for Corporate Governance” in the Annual Report.

Certain members of the Senior Management sit on the board of directors in the Company’s subsidiaries, but do not receive any board remuneration for these assignments.