Internal Control and Audit

According to the Swedish Companies Act (2005:551), the Board of Directors has the overall responsibility for ensuring that the Company’s organization is designed so that the bookkeeping, the financial management and the Company’s financial conditions in general are monitored in a satisfactory manner. Teneo AI AB’ internal control structure is based on the division of responsibilities between the Board and the Chief Executive Officer (CEO). Regular reporting and auditing of financial outcomes takes place in both the operational units’ management bodies as well as within the board.

According to the Articles of Association of Teneo AI AB, one or two auditors with or without deputy auditors, or one or two registered auditing firms, shall be appointed by the General Meeting. The auditor and deputy auditors, if applicable, are appointed yearly at the Annual General Meeting for the period until the next Annual General Meeting has been held.

The auditor reviews the annual report of Teneo AI AB, and accounting, as well as the administration of the board and the CEO.

Auditors

Grant Thornton Sweden AB has been the Company’s auditor since 2019; it was elected at the Extraordinary General Meeting on January 28, 2019 and was re-elected at the 2024 Annual General Meeting, for the period until the 2025 Annual General Meeting. Carl-Johan Regell (born 1963) is the chief auditor. Carl-Johan Regell is an authorized auditor and member of FAR (the industry organization for auditors in Sweden). Grant Thornton Sweden AB’s address is Kungsgatan 57, Box 7623, 103 94 Stockholm.

Öhrlings PricewaterhouseCoopers AB was the Company’s auditor during the period covered by the historical financial information in the Company description up to and including the Extraordinary General Meeting on January 28, 2019. The chief auditor during the period from the Annual General Meeting 2018 until the end of the Extraordinary General Meeting on January 28, 2019 was Nicklas Kullberg. The chief auditor during the period covered by the historical financial information up to and including the Annual General Meeting 2018 was Dick Svensson. Both Nicklas Kullberg and Dick Svensson are authorized auditors and members of FAR (the industry organization for auditors in Sweden).

The reason for the change of auditor was to select the same auditor for the entire Group after the Reverse Acquisition.

Certified Adviser

In its role as Certified Adviser, Redeye Sweden AB guides and monitors the company’s compliance with the Nasdaq First North Growth Market rules. Redeye Certified Adviser can be reached at certifiedadviser@redeye.se.