Corporate Governance Structure

The Thule Group (publ.) is a Swedish public limited liability company, which means that corporate governance is based primarily on the fundamental rules in the Swedish Companies Act covering the organization of the company as well as internal instructions and rules. After being listed on the NASDAQ Stockholm, the company will comply with the Swedish Corporate Governance Code and NASDAQ Stockholm’s Rule Book for Issuers.

The general meeting of shareholders is the highest decision-making body of the Thule Group. Shareholders are provided the opportunity to exercise their influence as represented by their shareholding at the general meeting of shareholders.

The Board bears ultimate responsibility for the Thule Group’s organization and administration of its operations. The Board comprises members elected by the shareholders at the general meeting of shareholders.

Following the listing on NASDAQ Stockholm, the largest shareholders appoint the Nomination Committee in line with the principles adopted by the general meeting of shareholders. At the Annual General Meeting (AGM), one of the tasks of the Nomination Committee is to propose candidates for the Board and directors’ fees as well as auditor’s fees and auditors.

The Board appoints the President and CEO, who is responsible for the day-to-day administration and daily operation of the Thule Group in line with the Board’s instructions. The President is assisted by the Group Management.

The Thule Group’s external auditors, who review the company’s financial reports and accounts as well as the administration of the Board and the President, are elected at the AGM.