Review Report in respect of the Annual Accounts

To the Annual General Meeting of Systembolaget AB, corporate identity number 556059-9473.

On behalf of the Swedish Parliament’s Board of Administration, we have examined the administration and internal controls of Systembolaget AB in the 2016 financial year. We have examined significant decisions, actions taken and circumstances in the company in order to be able to determine whether the company has been managed in an appropriate and financially acceptable manner and whether the company’s internal controls are adequate. Our examination did not reveal any circumstances giving cause for objection. We have also examined whether the company, its management and Board observed the guidelines laid down by the government with specific reference to Systembolaget AB and to State-owned enterprises in general. This examination also failed to reveal any circumstances giving cause for objection.

Stockholm, 23 March 2017

Lennart Axelsson              Jörgen Hellman              Maria Plass