Axactor SE

AGM Information • May 26, 2014

NMG: Final proposal by the Nomination Committee of Nickel Mountain Group AB for resolutions to the Annual General Meeting of the Company

NMG: Final proposal by the Nomination Committee of Nickel Mountain Group AB for resolutions to the Annual General Meeting of the Company

The Nomination Committee of Nickel Mountain Group AB (publ) ("NMG") has

ahead of the Annual General Meeting on June 4, 2014 informed the Company

about its proposal for remaining resolutions. The AGM will begin at

15.00 in central Stockholm at Rica Hotel, Slöjdgatan 7. The Nomination

Committee has consisted of Mr. Stefan Persson, current Chair of the

Board of the Company, Mr. Håkan Eriksson representing Altro Invest AB

and lastly Mr. Erlend Dunér Henriksen representing Aroma Holding AS and

a number of other Norwegian minority shareholders.

Those agenda items, for which the Nomination Committee has not

previously published proposed resolutions, are the following: Election

of Chair of the Annual General Meeting, determination of the number of

directors and deputy directors, election of directors and Chair of the

Board of directors, election of auditor, resolution on remuneration and

other compensation to the directors, and resolution on remuneration

payable to the auditor. These are items 2 and 11 - 15 of the previously

published notice of the coming Annual General Meeting.

Proposal for Chair of the Annual General Meeting (agenda item 2 of the

AGM notice)

The Nomination Committee proposes that Mr. Sven Rasmusson, lawyer at law

firm Rasmusson & Parners Advokat AB, be Chair of the Annual General

Meeting.

Resolution on the number of directors and deputy directors (agenda item

11 of the AGM notice)

The Nomination Committee proposes that the number of directors be four

with one deputy director.

Election of directors and Chair of the Board of Directors (agenda item

12)

It is being proposed that the Board directors be Mr. Rikard Ehnsiö, Mr.

Bjorn Rohdin, Mr. Svein Breivik and Mr. Frank Dinhoff Petersen. Mr.

Erlend Dunér Henriksen is proposed as deputy director.

Mr. Rikard Ehnsiö is proposed to be the Chair of the Board of Directors.

Rikard Ehnsiö and Frank Dinhoff Peterson have not previously been on the

board and a short presentation of them is given below.

Election of auditor (agenda item 13)

The Nomination Committee proposes to re-elect Mr. Johan Kaijser,

chartered authorized accountant, as main auditor of the Company with his

colleague Samuel Bjälkemo as deputy auditor. Both represent the audit

firm Mazars Set AB.

Resolution on remuneration and other compensation to the directors

(agenda item 14)

It is being proposed that remuneration to board directors be unchanged

as compared to last year. This implies that the remuneration to the

Chair be 250,000 SEK while as each of the other directors get 150,000

SEK.

Resolution on remuneration payable to the auditor (agenda item 15)

The Nomination Committee proposes that the auditor be paid on current

account.

Short presentation of Mr. Rikard Ehnsiö

Mr. Rikard Ehnsiö is a Swedish citizen born in 1944. He is today among

other things owner of Altro Invest AB, which is the single biggest

shareholder of Nickel Mountain Group AB. Rikard Ehsiö is an

international business man today living in Spain. He has during his

career worked as well in the Swedish retail sector as in the service

sector. Since the 1990ies he has also been occupied with forestry

projects. His main business ventures today are Altro Invest AB (leasing

company) and forestry operations conducted in Africa. Mr. Ehnsiö is a

Board Director of Altro Invest AB and the subsidiaries forming the Altro

Invest group.

Short presentation of Mr. Frank Dinhoff Petersen

Mr. Pedersen is a Danish citizen born in 1949. He has more than 35

years' experience in the oil & gas- and minerals extraction industries.

Mr. Pedersen holds an M.Sc. and a Ph.D. in Economic Geology. He has

worked and led a large number of exploration, development and production

projects around the world, and has acquired a broad, and detailed

technical, commercial, legal and strategic insight into most aspects of

the oil and gas value chain. The main part of his career, Mr. Pedersen

has spent in Norway with major oil company Norsk Hydro ASA, where he has

served in many of the world's oil regions. Today Frank Pedersen is

heading his own consultancy in Norway, where he also lives permanently.

Frank Pedersen's major other Board directorships are the following:

Chairman of the Board of NUNAOIL A/S, the Greenlandic state oil company.

He is also deputy Chairman of the Board of Petronor Group Ltd, a Dubai

based petroleum service company.

For and on behalf of the Board of Directors of Nickel Mountain Group AB:

Torbjörn Ranta

Managing Director

For information, please contact:

Torbjorn Ranta

Managing Director

Tel: +46 8 402 28 00

Mobile: +46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

Or contact:

Erlend Dunér Henriksen

Deputy board member

Mobile: +47 920 18 950

E-mail: erlend@henriksen.as

Cautionary Statement: Statements and assumptions made in this document

with respect to Nickel Mountain Group AB's ("NMG") current plans,

estimates, strategies and beliefs, and other statements that are not

historical facts, are forward-looking statements about the future

performance of NMG. Forward-looking statements include, but are not

limited to, those using words such as "may", "might", "seeks",

"expects", "anticipates", "estimates", "believes", "projects", "plans",

strategy", "forecast" and similar expressions. These statements reflect

management's expectations and assumptions in light of currently

available information. They are subject to a number of risks and

uncertainties, including, but not limited to, (i) changes in the

economic, regulatory and political environments in the countries where

NMG operates; (ii) changes relating to the geological information

available in respect of the various projects undertaken; (iii) NMG's

continued ability to secure enough financing to carry on its operations

as a going concern; (iv) the success of its potential joint ventures and

alliances, if any; (v) metal prices, particularly as regards nickel. In

the light of the many risks and uncertainties surrounding any mineral

project at an early stage of its development, the actual results could

differ materially from those presented and forecast in this document.

NMG assumes no unconditional obligation to immediately update any such

statements and/or forecasts.