11 November

The Swedish Prosecution Authority (“Svenska Åklagarmyndigheten”) has today brought criminal charges against Chairman of the Board Ian H. Lundin and Director Alex Schneiter in relation to past operations in Sudan from 1999-2003 and 2000-2003, respectively. The charges also include claims against the Company for a corporate fine (“Företagsbot”) of SEK 3,000,000 and forfeiture of economic benefits (“Förverkande av ekonomiska fördelar”) of SEK 1,391,791,000, which according to the Swedish Prosecution Authority represents the value of the gain of SEK 720,098,000 that the Company made on the sale of the business in 2003. Following the bringing of charges, Ian H. Lundin has chosen not to stand for re-election as Chairman of the Board at the Company’s 2022 Annual General Meeting. The Company refutes that there are any grounds for allegations of wrongdoing by any of its representatives and does not foresee any impact on the operational and financial guidance that the Company has set out previously.