Nominating Committee’s Recommendation for Board of Directors of Axfood AB

Regulatory News:

Ahead of the Annual General Meeting on 12 March 2014, the Nominating Committee of Axfood AB (STO:AXFO) proposes the re-election of board members Antonia Ax:son Johnson, Peggy Bruzelius, Lars Olofsson, Fredrik Persson, Odd Reitan and Annika Åhnberg, and the new election of Caroline Berg.

Board member Marcus Storch has declined re-election.

Caroline Berg (b. 1968) holds a degree in media and psychology from Middlebury College in the USA. She is currently Vice President, Human Resources and Communications at Axel Johnson AB and a member of the management team. Her duties also include responsibility for sustainable business. Caroline Berg is a member of the boards of Axstores AB, Åhléns AB, Axel Johnson International AB, AxFast AB, Filippa K Group AB, and a deputy director of Martin & Servera AB. She is also Chairman of the Erik and Göran Ennerfelt Foundation for International Studies for Young Swedes. Ms. Berg will be elected as Vice Chairman of the Board of Axel Johnson AB at the company’s Annual General Meeting in March 2014. In conjunction with this, she will leave the management team, on which she has served since 2006.

Fredrik Persson is proposed by the Committee for re-election as Chairman of the Board of Axfood AB.

The Nominating Committee ahead of the 2014 Annual General Meeting had the following composition: Hans Dalborg, appointed by Axel Johnson AB (committee chair); Kristin S. Genton, Reitangruppen AS; Tomas Hedberg, Swedbank Robur funds; Johan Strandberg, SEB funds; and Jonas Hillhammar, Axfood’s Shareholder Association. The Nominating Committee’s members represent shareholders who together hold approximately 70% of all votes in the Company. The Nominating Committee’s complete recommendation – including proposals for a chairman to preside over the Annual General Meeting, election of auditors, directors’ and auditors’ fees, reasoned statement and information about the nominated board members, and guidelines for appointment of the Nominating Committee – is available at www.axfood.se.

The Annual General Meeting of Axfood AB will be held at 5 p.m. on Wednesday, 12 March 2014. Location: Cirkus, Stockholm.

Axfood AB conducts food retail and wholesale business in Sweden. Retail business is conducted through the wholly owned store chains Willys and Hemköp, comprising 252 stores in all. In addition, Axfood collaborates with a number of proprietor-run stores that are tied to Axfood through agreements. These include stores within the Hemköp and Willys chains as well as stores run under the Handlar’n and Tempo profiles. In all, Axfood collaborates with approximately 820 proprietor-run stores. Wholesaling is conducted through Dagab and Axfood Närlivs. Axfood is listed on Nasdaq OMX Stockholm AB's Large Cap list. Axel Johnson AB is the principal owner, with 50,1% of the shares.

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