Board Committees

The Board of Directors currently has two Board committees, the Remuneration Committee and the Audit Committee. The composition and tasks of the Board’s Committees are regulated in the Board of Directors’ Internal Regulations. Below is a brief description of the Committees as per the current Internal Regulations (which are continuously reviewed and if deemed appropriate by the Board of Directors amended).

Remuneration Committee

The Remuneration Committee shall regularly review, and recommend changes to Board members’ remuneration to ensure that it is at an appropriate level, and effectively managed, to best advance the business objectives of Cavotec and assist the Board of Directors in the establishment of remuneration policies and practices for, and in discharging the Board of Directors responsibilities relative to remuneration setting and review of, the Company’s CEO, other senior executives, and Board members. The compensation plans should reflect market conditions in the various countries where Cavotec is operating.

The current members of the Remuneration Committee in Cavotec are Peter Nilsson (Chairman), Patrik Tigerschiöld and Keith Svendsen.

Audit Committee

The objective of the Audit Committee is to assist the Board of Directors in discharging its responsibilities relative to financial reporting and regulatory compliance. Members of the Audit Committee shall comprise members of the Board appointed by the Board and in accordance with the Code. The members of the Audit Committee shall be not less than three, all of whom shall be Board members with a majority to be independent Board members. One member must have a financial or accounting background.

The current members of the Audit Committee in Cavotec are Annette Kumlien (Chairman) and Patrik Tigerschiöld.