- Each holding's share of total assets as per December 31st 2011

| * | Holdings in AAK consist of MSAB's shares excluding the minority. The minority value in AAK (41.5%) amounted to MSEK 1 359 as per December 31st 2011. | |
- Each holding's share of total assets as per December 31st 2011

| * | Holdings in AAK consist of MSAB's shares excluding the minority. The minority value in AAK (41.5%) amounted to MSEK 1 359 as per December 31st 2011. | |