SBBs dividend policy is: To generate a steadily increasing annual dividend.

The AGM 2020 resolved that dividend is distributed to the Preference shareholders with an amount of SEK 35 per Preference share, to the common shareholders with SEK 0.60 per Class A and Class B share and SEK 2 per Class D share. Payment shall be made quarterly.

Common share profit distribution

All Common Shares shall have the same rights to dividend without preferential rights in relation to each other. If any dividend is declared, the following shall apply: Class A and Class B common shares are entitled to the same dividend per share. Class D common shares are entitled to five (5) times the total dividend on Class A and Class B common shares, however, no more than SEK two (2) per share and year. If the dividend on Class D common share is less than SEK two (2), the maximum permitted dividend of SEK two (2) shall be increased so that the shortfall of up to SEK two (2) per year may be distributed later if sufficient dividends on common shares are declared subsequently, whereupon the maximum permitted dividend shall once again be SEK two (2). Disbursement of dividends relating to Class A and Class B common shares shall be made in a single instalment or in four (4) equal instalments in which case the record dates for payment of dividends shall be the last business day in June, September, December and March. Disbursement of any dividend relating to Class D common shares shall be made in four (4) equal instalments. Record dates for payment of dividends shall be the last business day in June, September, December and March with the first record date for payment of dividends relating to Class D common shares to be the last business day in March 2019.

Preference share profit distribution

The Preference Shares shall have preferential rights to dividend

If the shareholders meeting resolves on dividend distribution, the Preference Shares shall have preferential rights over the Common Shares to dividend, as per the below.

Calculation of Preference Share distribution

Preference Shares shall give preferential rights over common Shares to an annual distribution of dividends per Preferential Share of SEK thirty-five (35) (“Preference Share Distribution”), with quarterly payments of SEK eight point seventy-five (8.75) per Preference Share, with payment dates as per the below.

Payment of profit dividend

The payment of profit dividend for Preference Shares shall be made quarterly in arrears in SEK, with a quarter of the Preference Share Distribution being paid at each payment date. The payment dates for payment of dividends shall be on 10 January, 10 April, 10 July, and 10 October. In which case such date is not a banking day, the payment date shall be the previous banking day. “Banking day” refers to a day which is not a Sunday, other public holiday or a day which, when paying for debentures, is equivalent to a public holiday (such equivalent days are at the time for adopting these articles of association Saturday, Midsummer Eve, Christmas Eve and New Year’s Eve).

Calculation of Outstanding Sum

If no dividend has been paid to Preference Shares, or if only dividends less than the Preference Share Distribution has been paid, the Preference Shares shall entitle to, in addition to future Preference Share Distribution, also receive an amount, evenly distributed on each Preference Share, corresponding to the difference between what should have been paid as above and the actually paid amount (“Outstanding Sum”), before dividends to holders of Common Shares may occur. The Outstanding Sum will be indexed with an annual interest rate of ten (10) percent accrued. Indexation shall start with the quarter when the part of the dividend was paid (or should have been paid, if no dividend at all was been paid). The distribution of the Outstanding Sum also requires a decision on distribution of profits from the general meeting of shareholders.

Conversion at certain corporate actions

If the number of Preference Shares is changed by way of reverse share split, share split or other similar corporate actions, the amounts to which the Preference Share is entitled shall be recalculated to reflect this change. Conversion at certain corporate actions If the number of Preference Shares is changed by way of reverse share split, share split or other similar corporate actions, the amounts to which the Preference Share is entitled shall be recalculated to reflect this change.

The company’s resolution

If the company is dissolved, Preference Shares shall entail preferential rights over ordinary shares to receive from the Company’s assets an amount per Preference Share corresponding to what would have been obtained if the shares were redeemed in accordance with the following provision, before distribution to owners of ordinary shares.

Other

The preference shares shall otherwise not entail any right to a dividend or a transfer share.

Dissolution of the company

If the company is dissolved, Preference shares shall confer preferential rights over ordinary shares to receive from the company’s assets an amount per Preference Share equal to what would have been received if the shares were redeemed in accordance with the above provision, before distribution to owners of ordinary shares.

Other

Preference shares shall otherwise not carry any right to a share of any distribution.