Proposed distribution of earnings

With respect to the information presented above and other information that has come to the knowledge of the Board of Directors, it is the Board’s opinion that a comprehensive assessment of the company and Group’s financial position entails that the dividend is justifiable considering the requirements that the nature, scope and risks of operations place on the amount of the company’s and the Group’s equity and considering the company’s and the Group’s consolidation requirements, liquidity and financial position in other respects.

The consolidated accounts and annual accounts have been prepared in accordance with the international financial reporting standards referred to in Regulation (EC) No 1606/2002 of the European Parliament and of the Council of July 19, 2002 on the application of international accounting standards, and generally accepted accounting principles, and provides a true and fair view of the Group’s and Parent Company’s financial position and results. The Board of Directors’ report for the Group and the Parent Company provides a true and fair overview of the Group’s and Parent Company’s operations, financial position and results and describes material risks and uncertainties faced by the Parent Company and the companies included in the Group.