External Auditors

According to the by-laws, SSAB shall have one or two external auditors. At the 2007 General Meeting, PricewaterhouseCoopers was re-elected as auditor for an additional four-year term. The auditor-in-charge since 2005 is authorized public accountant Claes Dahlén, who is also the auditor-in-charge of the listed company, Karo Bio. In total, PricewaterhouseCoopers is the chosen auditor in 26 of the 72 companies in the Stockholm Stock Exchange’s “Large cap” segment and in 100 of a total of 280 companies.

The external audit of the financial statements of the parent company and the Group as well as management by the Board of Directors and President is conducted in accordance with generally accepted auditing standards in Sweden. The company’s auditor-in-charge participates at all meetings of the Audit Committee. The auditor
attends at least one board meeting per year at which he goes through the audit for the year and discusses the audit with the Directors, without the President being present.

For information regarding fees to the auditors, see Note 2 in the Annual Report for 2007.