Justified statement 2014

March  25, 2014

The Election Committee has studied an internal evaluation of the work of the Board of Directors.

In addition, the Election Committee has interviewed Board Members and met the Company's Managing Director who has reported on the business of the group. The proposal submitted to the Annual Meeting of shareholders has been produced in accordance with the framework for the work of the Election Committee decided by G & L Beijer's 2013 Annual Meeting of shareholders.

As new Chairman of the Board of Directors the Election Committee has proposed Bernt Ingman. Peter Jessen Jürgensen the present Chairman of the Board of Directors has declined re-election, but accepted to remain as a Board Member.

Bernt Ingman has an industrial background, among others as CFO in AB Husqvarna, and he has been a Member of the Board of G & L Beijer AB since 2006.

The proposed Board of Directors is deemed to have the versatility, range and competence, as well as the experience and background required taking into account the Company's business, phase of development and conditions in general.

The Election Committee has discussed the issue of the Board Members' independence.

The Election Committee has formed the opinion that all Members are independent in relation to the Company Management. Five of seven Members are considered to be independent of the Company. In addition to Joen Magnusson, Harald Link is to be regarded as dependent of the Company. Two of seven Members, Anne-Marie Pålsson and Bernt Ingman, are regarded as independent of large shareholders. The proposal for composition of the Board of Directors, therefore, fulfils the applicable requirements for independent Board Members in accordance with the Swedish Code for Corporate Governance.

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