Independence assurance

March  15, 2017

To the Audit Committee of Beijer Ref AB (publ), 556040-8113

Reporting and assurance according to International Standard on Auditing (ISA 260)

According to ISA 260, an auditor shall report to the Audit Committee annually on all possible circumstances and other issues between the audit firm, companies in its network (henceforth the audit firm) and the company whose financial reports are the subject of audit (henceforth the audit client), which, according to the auditor’s professional judgment, may reasonably be thought to have an impact on independence and impartiality. The auditor shall also present a written assurance regarding the audit firm’s and audit team’s impartiality and independence.

Reporting of circumstances which can have an impact on the impartiality and independence, and reporting of the service provided

A check has been carried out in order to identify any possible threats which can be of significance for the assessment of the audit firm’s and the audit team’s impartiality and independence in relation to the audit client. No circumstances have been noted which should be reported to the Audit Committee.

For the financial year 2016 compensation paid by Beijer Ref Group to the audit firm amounted to 9 463 kSEK specified as follows:

- Audit assignment 7,008 kSEK

- Audit services other than the audit assignment 150 kSEK

- Tax advisory services 866 kSEK

- Other services 1,439 kSEK

Measures

In the audit firm and the network to which the firm belongs, there are processes and routines for ensuring the auditor’s impartiality and independence. For further information, refer to the audit firm’s yearly report on its operations which is available on the audit firm’s website.

Assurance regarding impartiality and independence

Our assessment is that the firm and the audit team are impartial and independent to the degree required by the applicable regulations and that, no hindrance exists to the fulfilment of the audit engagement.

Malmö, March 9 2017
PricewaterhouseCoopers AB

Lars Nilsson
Authorized Public Accountant
Auditor in Charge

Rikard Fransson
Authorized Public Accountant