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The work of the Board

The Board of Directors is the highest decision-making body after the General Meeting. According to the Companies Act, the Board is responsible for the management and organisation of the company. The Board of Directors must continuously assess the company’s financial situation and ensure that the company’s organisation is such that the accounting, cash management and other financial conditions of the company are controlled in a satisfactory manner. Furthermore, the Board of Directors shall determine the overall objectives of the company’s activities and decide on the company’s strategy for achieving those objectives, and shall continuously evaluate the company’s management. The Board is also responsible for ensuring that the company’s financial reports are prepared in a timely manner. In addition, the Board appoints the CEO.

The Board follows written rules of procedure, which are revised annually and usually adopted at the inaugural Board meeting each year. The rules of procedure regulate, among other things, the functions and division of work between the Board and the CEO. At the inaugural Board meeting, the Board also establishes the CEO’s instructions, including financial reporting instructions, delegation rules and authorisation and authorisation instructions. The Board meets according to an annual schedule. In addition to these meetings, additional Board meetings may be convened to deal with matters that cannot be referred to an ordinary Board meeting.

‍CEO and senior executives

The CEO is subordinate to the Board of Directors and is responsible for the day-to-day management and operations of the company in accordance with the Swedish Companies Act. The division of labour between the Board and the CEO is set out in the Rules of Procedure for the Board and the Instructions to the CEO.

The management of Yubico shall ensure that Yubico complies with all regulations for listed companies.