Audit Committee

Bilot Plc’s Board of Directors decided to establish an Audit Committee, whose members were elected Riitta Palmén (Chairman of the Committee), Petri Niemi and Björn Mattsson.

The Audit Committee is responsible for, among other things:

• Monitor the company’s financial position
• Monitor and evaluate financial reporting processes
• Monitor statutory audit
• Monitor the company’s internal control and the effectiveness of risk management systems
• Monitor compliance with laws and regulations and company policies
• Monitor and evaluate the activities of the company’s auditor

The members of the Audit Committee are independent of both the company and the company’s largest shareholders.