Swedish Match — Capital/Financing Update 2012

Mar 30, 2012

★★★ SWEDISH MATCH

CONFIRMATION LETTER – NOTE ISSUE

30 March 2012

To: Danske Bank A/S, 2-12 Holmens Kanal, DK-1092 Copenhagen K, Denmark

Dear Sirs,

SWEDISH MATCH AB (publ)
€100,000,000 3.125 per cent. Notes due 3 April 2019
(the Notes)

We refer to the amended and restated Programme Agreement dated 7 October 2011 (such agreement, as further amended, supplemented or restated from time to time, is referred to as the Programme Agreement) and hereby acknowledge receipt of your Dealer Accession Letter to us dated 30 March 2012.

We hereby confirm that, with effect from the date hereof, in respect of the issue of the Notes, you shall become a Dealer under the Programme Agreement in accordance with the provisions of subclause 11.2 of the Programme Agreement.

Yours faithfully,
SWEDISH MATCH AB (publ)

By:

cc: Deutsche Bank AG, London Branch as Principal Paying Agent
Per Andsberg / Per Møller /