The Board

In accordance with MIPS’s Articles of Association, the Board of Directors shall consist of three to eight members. The Board of Directors currently consists of seven members who were elected at the AGM, 2016. No member of the Board of Directors elected by the shareholders’ meeting is employed by MIPS. Five of the members elected by the shareholders´ meeting are considered to be independent of the company and senior management. One of the other two have had consultancy assignments for MIPS and the other is employed by BRG Sports, previously a customer to MIPS. Five of the board members are considered to be independent to the major shareholders while two are representing the major shareholders in MIPS.

Thus, MIPS meet the requirements of the Code regarding the independence of the Board in relation to the company, the senior management and the company’s principal shareholders.