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Notice of Extraordinary General Meeting 2024 in Acconeer AB (publ)

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The Extraordinary General Meeting of Acconeer AB (publ), reg. no. 556872-7654, (the “Company”) will be held on 31 October 2024 at 15:00 at the Company's office at Västra Varvsgatan 19, in Malmö.

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Notification etc.
Those who wish to participate in the extraordinary general meeting must:

  1. be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances as per the record date of 23 October 2024; and
  2. give notice of intent to participate no later than 25 October 2024. Notification shall be made either in writing to Acconeer AB, att: Jenny Olsson, Västra Varvsgatan 19, SE-211 77 Malmö, or by email, info@acconeer.com.

The notice shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two (2). The notification should, where appropriate, be accompanied by proxies, registration certificates and other documents of authority.

In order to be entitled to participate in the meeting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the meeting, register its shares in its own name so that the shareholder is listed in the share register as of the record date of 23 October 2024. Such re-registration may be temporary (so-called voting rights registration), and a request for such voting rights registration shall be made to the nominee, in accordance with the nominee’s routines, at such time in advance as decided by the nominee. Voting rights registration that has been made by the nominee no later than the second banking day after 23 October 2024, will be taken into account in the presentation of the share register.

Proxies etc.
If a shareholder is to vote through a proxy, a written, dated and signed proxy by the shareholder must be provided at the general meeting. The proxy may not be older than one (1) year, unless longer validity (maximum of five (5) years) is stated in the proxy. If the proxy is issued by a legal entity, the current registration certificate or equivalent authorisation document for the legal entity must also be provided. To facilitate an easier passing, a copy of the proxy and other documents of authority should be enclosed with the registration for the general meeting. Proxy forms will be kept available on the Company’s website, www.acconeer.com, and at the Company’s head office and will be sent by post to shareholders who contact the Company and state their address.

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman of the meeting.
  3. Election of one or two persons to approve the minutes.
  4. Preparation and approval of the voting list.
  5. Approval of agenda.
  6. Determination as to whether the meeting has been duly convened.
  7. Resolution on the board of directors’ proposal for a resolution on an incentive programme for the CEO through a directed issue of warrants
  8. Closing of the meeting.

Item 7 – Resolution on the board of directors’ proposal for a resolution on an incentive programme for the CEO through a directed issue of warrants

The board of directors has proposed that the extraordinary general meeting resolves on a warrant-based incentive program for Ted Hansson, the CEO of the Company, in accordance with the conditions set out below (“Warrant Program 2024/2027”).

Background and motive
The purpose of the proposed program and the reasons for the deviation from the shareholders’ preferential rights are that the board of directors believes that a warrant program that allows the CEO to gain access to the Company’s value development promotes participation and accountability and brings increased motivation to promote favourable economic development for the Company.

In light of the above, the board of directors proposes that the meeting on an incentive programme for the Company's CEO through a directed issue of warrants of series 2024/2027, in accordance with below.

The Board of Directors' proposal for resolution on the implementation of Warrant Programme 2024/2027
For the implementation of Warrant Program 2024/2027, the board of directors proposes that the extraordinary general meeting resolves to issue a maximum of 350,000 warrants of series 2024/2027, implying an increase in the share capital upon full exercise with a maximum of SEK 17,500.

For the decision, the following conditions shall apply:

  1. No more than 350,000 warrants shall be issued.
  2. The right to subscribe for warrants shall, with deviation from the shareholders' preferential rights, be granted to Ted Hansson, the Company's CEO. The reason for the deviation from the shareholders' preferential rights is that the Warrant Programme 2024/2027 allows the CEO to gain access to the Company’s value development promotes participation and accountability and brings increased motivation to promote favourable economic development for the Company.
  3. Subscription of the warrants shall be made on a separate subscription list no later than 19 November 2024, the board of directors is entitled to extend the subscription period.
  4. The warrants shall be issued at the market value of the warrants at the time of subscription, which shall be determined by Optionspartner AB, or another independent valuation institute, using the Black & Scholes valuation model. According to a preliminary valuation, the market value of the warrants corresponds to approximately SEK 2.01 per warrant. The calculation is based on a share price of SEK 8.50, an exercise price of SEK 12.75 per share, a risk-free interest rate of 1.860 per cent and a volatility of 57 per cent, calculated according to the Black Scholes valuation model. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so-called illiquidity discount of 15.0 per cent has been applied to the warrants’ value. The final price for the warrants will be established in connection with the subscription occasion to the CEO and will be based on market conditions prevailing at that time.
  5. Payment for the warrants shall be made in cash no later than one week after subscription, the board of directors is entitled to extend the payment period. Over-subscription cannot occur.
  6. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  7. Subscription of shares under the warrants may take place during the period from 20 November 2027 up to and including 31 December 2027.
  8. The subscription price per share shall correspond to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days ending on 31 October 2024, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  9. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  10. Applicable re-calculation terms and other terms and conditions for the warrants can be found in “Terms and conditions for warrants series 2024/2027 for new subscription of shares in Acconeer AB (publ)”.
  11. The right to allotment of warrants in Warrant Program 2024/2027 assumes that (i) the CEO holds his position by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, and (ii) that the CEO has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant if the participant’s employment ceases or if the participant wishes to transfer the warrants before they can be exercised for subscription of shares, in some cases at an amount corresponding to the lower of the Company's CEO's acquisition value of the warrants and the market value, in other cases at the market value.
  12. The Board of Directors, the CEO, or the person appointed by the Board of Directors or the CEO is authorised to make the minor amendments required for the registration of the resolution with the Swedish Companies Registration Office or Euroclear Sweden AB or due to other formal requirements.

Award criteria
No award criteria, beyond what is stated above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a program that includes the CEO provides the best conditions to achieve the board of directors’ objectives in implementing the programme.

Costs
Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2024/2027 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios
As per the day of this proposal, there are 62,154,827 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2024/2027 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 350,000, which corresponds to a dilution of approximately 0.56 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company’s key ratios.

The Company currently has six ongoing share-based incentive programs: Warrant Program 2021/2024:1, Warrant Program 2021/2024:2, Warrant Program 2022/2026, Warrant Program 2023/2026, Warrant Program 2023/2027 and Warrant Program 2024/2028. All share-related incentive programmes in the Company have been recalculated due to the rights issue resolved on 5 March 2024.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Company’s wholly-owned subsidiary Acconeer Incentive AB, reg. no. 559156-2474 (the “Subsidiary”), which as of today holds 82,497 of these, through Warrant Program 2021/2024:1. The incentive program includes employees of the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 May 2024 to and including 30 September 2024, call for subscription of 1.18 new shares in the Company at a subscription price of SEK 47.09.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 192,862 of these, through Warrant Program 2021/2024:2. The incentive program includes employees of the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 November 2024 to and including 31 Mars 2025, call for subscription of 1.18 new shares in the Company at a subscription price of SEK 95.84.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 76,485 of these, through Warrant Program 2022/2026. The incentive program includes employees of the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 3 December 2025 to and including 16 January 2026, call for subscription of 1.15 new shares in the Company at a subscription price of SEK 51.23.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 166,197 of these, through Warrant Program 2023/2026. The incentive program includes employees of the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 25 March 2026 to and including 8 May 2026, call for subscription of 1.15 new shares in the Company at a subscription price of SEK 50.49.

The annual general meeting resolved on 27 April 2023 to issue a maximum of 500,000 warrants to the Subsidiary, which as of today holds 403,278 of these, through Warrant Program 2023/2027. The incentive program includes employees of the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 24 March 2027 up to and including 5 May 2027, call for subscription of 1.15 new shares in the Company at a subscription price of SEK 9.88.

The annual general meeting resolved on 23 April 2024 to issue a maximum of 500,000 warrants to the Subsidiary, which as of today holds 500,000 of these, through Warrant Program 2024/2028. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 February 2028 up to and including 30 April 2028, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days ending on 15 November 2024.

If (i) all outstanding warrants issued in connection with the ongoing incentive programs, including the warrants from Warrant Program 2024/2028 currently held by the Subsidiary, however, excluding the other warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2024/2027 in accordance with the proposal, and (iii) all warrants that can be issued in or in connection with Warrant Program 2024/2027 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 1,755,222 which corresponds to a total dilution of approximately 2.75 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms, but taking into account the recalculation due to the rights issue resolved by the Board of Directors by virtue of the authorisation on 5 March 2024. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal
The proposal for resolution on the implementation of Warrant Program 2024/2027 has been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO has not participated in the preparation of the proposal.

Majority requirements
A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the meeting.

Available documents
The complete proposals and other documents that shall be made available prior to the general meeting pursuant to the Swedish Companies Act will be made available at the Company and at the Company’s website, www.acconeer.com, at least three weeks prior to the extraordinary general meeting. The documents will also be sent free of charge to shareholders who so request and provide their address to the Company. In other respects, the board of directors’ complete proposals for resolutions are stated in the notice.

Information at the extraordinary general meeting
Shareholders present at the Extraordinary General Meeting have the right to request information in accordance with Chapter 7, Section 32 of the Swedish Companies Act (2005:551).

Shareholders who wish to submit a question in advance can do so by mail to Jenny Olsson at the address Acconeer AB, Att: “EGM 2024” Västra Varvsgatan 19, SE-211 77 Malmö or by email to info@acconeer.com. Submissions should include the name of the shareholder including such shareholder’s personal or organisation number. It is also recommended that the submission includes the shareholder’s postal address, email address and telephone number.

Shares and votes in the Company
The total number of shares and votes in the Company amount to 62,154,827, as per the date of this notice. The Company does not hold any own shares.

Processing of personal data
For information on how your personal data is processed, the Company refers to the integrity policy available on Euroclear Sweden AB’s website https://www.euroclear.com/dam/ESw/Legal/Privacy%20notice%20BOSS%20-%20final%20220324.pdf.

____________

Malmö in September 2024
Acconeer AB
The Board of Directors

Notice of Annual General Meeting 2024 in Acconeer AB (publ)

By

The Annual General Meeting of Acconeer AB (publ), reg. no. 556872-7654, (the “Company”) will be held on 23 April 2024 at 17:30, Clarion Hotel & Congress Malmö Live, Dag Hammarskjölds Torg 2 in Malmö.

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Notification etc.
Those who wish to participate in the annual general meeting must:

  1. be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances as per the record date of 15 April 2024; and
  2. give notice of intent to participate no later than 17 April 2024. Notification shall be made either in writing to Acconeer AB, att: Jenny Olsson, Västra Varvsgatan 19, SE-211 77 Malmö, or by email, info@acconeer.com.

The notice shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two (2). The notification should, where appropriate, be accompanied by proxies, registration certificates and other documents of authority.

In order to be entitled to participate in the meeting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the annual general meeting, register its shares in its own name so that the shareholder is listed in the share register as of the record date of 15 April 2024. Such re-registration may be temporary (so-called voting rights registration), and a request for such voting rights registration shall be made to the nominee, in accordance with the nominee’s routines, at such time in advance as decided by the nominee. Voting rights registration that has been made by the nominee no later than the second banking day after 15 April 2024, will be taken into account in the presentation of the share register.

Proxies etc.
If a shareholder is to vote through a proxy, a written, dated and signed proxy by the shareholder must be provided at the general meeting. The proxy may not be older than one (1) year, unless longer validity (maximum of five (5) years) is stated in the proxy. If the proxy is issued by a legal entity, the current registration certificate or equivalent authorisation document for the legal entity must also be provided. To facilitate an easier passing, a copy of the proxy and other documents of authority should be enclosed with the registration for the general meeting. Proxy forms will be kept available on the Company’s website, www.acconeer.com, and at the Company’s head office and will be sent by post to shareholders who contact the Company and state their address.

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman of the meeting.
  3. Election of one or two persons to approve the minutes.
  4. Preparation and approval of the voting list.
  5. Approval of agenda.
  6. Determination as to whether the meeting has been duly convened.
  7. Presentation of the annual report and the auditor’s report.
  8. Address by the CEO.
  9. Resolution on:
    1. Adoption of the income statement and balance sheet.
    2. Disposition of the Company’s profit or loss according to the established balance sheet.
    3. Discharge from liability of the board of directors and the CEO.
  10. Determination of fees to the board of directors and the auditors.
  11. Election of the board of directors and the auditor.
  12. Resolution on:
    1. Directed issue of warrants.
    2. Approval of transfer of warrants.
  13. Closing of the meeting.

Item 2 Election of chairman of the meeting
The board of directors has proposed that attorney-at-law Henric Stråth or, if he is prevented from attending, the person appointed by the board of directors shall be elected chairman of the meeting.

Item 9.B – Resolution on disposition of the Company’s profit or loss
The board of directors has proposed to the 2024 annual general meeting that no dividend is paid and that the funds at the disposal of the general meeting are carried forward.

Item 10 Determination of fees to the board of directors and the auditors
A group of shareholders have proposed that the fees to the board of directors, for the period until the end of the next annual general meeting, be paid out with a total of fourteen (14) price base amounts (Sw. prisbasbelopp), of which five (5) price base amounts to the chairman and three (3) price base amounts each to the other members elected by the annual general meeting who are not employed by the Company.

The board of directors has proposed that the fee to the auditor is to be paid according to approved invoice.

Item 11 Election of the board of directors and the auditor
A group of shareholders have proposed that the number of board members shall be four (4), that the number of auditors shall be one (1), and that no deputy auditors shall be appointed.

A group of shareholders have proposed that the board of directors shall consist of the following members: Lars-Erik Wernersson (re-election), Git Sturesjö Adolfsson (re-election), Thomas Rex (re-election) and Henric Stråth (new election). It is proposed that Thomas Rex is re-elected chairman of the board.

Henric Stråth, born 1982, is a board member and partner in the business law firm Moll Wendén Advokatbyrå AB. Henric Stråth has a Degree of Master of Laws from Lund University and have previously been a member of the board of directors in Lundon Marketing AB and Strathorn AB. Henric Stråth owns no shares in the Company.

Information regarding the proposed members of the board of directors is available on the Company’s website, investor.acconeer.com.

Furthermore, it has been proposed that the registered auditing company KPMG AB is re-elected for the period until the end of the next annual general meeting. KPMG AB has announced that, should the annual general meeting approve the proposal, the authorised public accountant Jonas Nihlberg will be the auditor-in-charge.

Item 12 – Resolution on a directed issue of warrants and approval of the subsidiary’s transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive
The board of directors has proposed that the annual general meeting resolves on a warrant-based incentive program for the individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO of the Company (“Employees”) in accordance with the conditions set out below (“Warrant Program 2024/2028”).

The purpose of the proposed program and the reasons for the deviation from the shareholders’ preferential rights are that the board of directors believes that a warrant program that allows the Employees to gain access to the Company’s value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors proposes that the annual general meeting resolves to (A) issue warrants of series 2024/2028 to the Subsidiary (as defined below) and (B) approve the transfer of warrants series 2024/2028 from the Subsidiary to the Employees in accordance with item 12.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 12.A – Directed issue of warrants
For the implementation of Warrant Program 2024/2028, the board of directors proposes that the annual general meeting resolves to issue a maximum of 500,000 warrants of series 2024/2028, implying an increase in the share capital upon full exercise with a maximum of SEK 25,000.

For the decision, the following conditions shall apply:

  1. No more than 500,000 warrants shall be issued.
  2. With the exception of shareholders’ preferential rights, the subscriber shall be the Company’s wholly-owned subsidiary Acconeer Incentive AB, reg. no. 559156-2474 (the “Subsidiary”), with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 15 February 2028 up to and including 30 April 2028. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days ending on 15 November 2024, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in “Terms and conditions for warrants series 2024/2028 for new subscription of shares in Acconeer AB (publ)”.
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor amendments to the annual general meeting’s decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office or, where applicable, Euroclear Sweden AB.

Item 12.B – Approval of transfer of warrants to Employees
Warrant Program 2024/2028 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 22 November 2024, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 12.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
    • On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one fifth (1/5) of the Employee’s annual income prior to income tax.
    • No more than 500,000 warrants in total may be allotted on each occasion.
  4. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee’s annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  5. Transfer of warrants may not take place after the annual general meeting 2025, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  6. The right to transfer warrants in Warrant Program 2024/2028 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii) that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors’ assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant’s company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant’s employment/consultancy assignment ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and amendments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.
  7. For participants in other jurisdictions than Sweden, it is implied that transfer of warrants is legally possible and that transfer, in the board of directors’ opinion, can be carried out with reasonable administrative and financial efforts at their established fair market value. The board of directors shall be authorised to amend the terms and conditions of the Warrants Program 2024/2028 to the extent required in order for allotment of warrants to participants in other jurisdictions, to the extent practically possible, to be carried out under the same conditions imposed by the Warrants Program 2024/2028.

Award criteria
No award criteria, beyond what is stated in item 12.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a broad program that includes all Employees provides the best conditions to achieve the board of directors’ goals of implementing the program: committed, motivated and competent co-workers.

Valuation
Subscription of the warrants shall be made at a price equal to the warrant’s fair market value the day of subscription. The warrants’ fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 7.60 at subscription and an exercise price of SEK 11.40 per share, SEK 1.80 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of 2.411 per cent and a volatility assumption of 55.3 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so-called illiquidity discount of 15.0 per cent has been applied to the warrants’ value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs
Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2024/2028 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios
As per the day of this proposal, there are 26,637,783 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2024/2028 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 500,000, which corresponds to a dilution of approximately 1.84 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company’s key ratios.

The Company currently has five ongoing share-based incentive programs: Warrant Program 2021/2024:1, Warrant Program 2021/2024:2, Warrant Program 2022/2026, Warrant Program 2023/2026 and Warrant Program 2023/2027.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 82,497 of these, through Warrant Program 2021/2024:1. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 May 2024 to and including 30 September 2024, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days ending on 23 April 2021.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 192,862 of these, through Warrant Program 2021/2024:2. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 November 2024 to and including 31 Mars 2025, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 28 October 2021.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 76,485 of these, through Warrant Program 2022/2026. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 3 December 2025 to and including 16 January 2026, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 11 November 2022.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 166,197 of these, through Warrant Program 2023/2026. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 25 March 2026 to and including 8 May 2026, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 3 March 2023.

The annual general meeting resolved on 27 April 2023 to issue a maximum of 500,000 warrants to the Subsidiary, which as of today holds 500,000 of these, through Warrant Program 2023/2027. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 24 March 2027 up to and including 5 May 2027, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market’s official curriculum list for shares in the Company during the period of ten (10) trading days ending on 8 March 2024.

If (i) all outstanding warrants issued in connection with the ongoing incentive programs, including the warrants from Warrant Program 2023/2027 currently held by the Subsidiary, however, excluding the other warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2024/2028 in accordance with the proposal, and (iii) all warrants that can be issued in or in connection with Warrant Program 2024/2028 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 1,681,959, which corresponds to a total dilution of approximately 5.94 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal
The proposal for resolution on the implementation of Warrant Program 2024/2028 and the proposals of resolutions according to item 12.A and 12.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2024/2028, has not participated in the preparation of the proposal.

Majority requirements
The resolution of the annual general meeting in accordance with the board of directors’ proposals under items 12.A–B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Available documents
The complete proposals and other documents that shall be made available prior to the annual general meeting pursuant to the Swedish Companies Act will be made available at the Company and at the Company’s website, www.acconeer.com, at least three weeks prior to the annual general meeting. The documents will also be sent free of charge to shareholders who so request and provide their address to the Company. In other respects, the board of directors’ complete proposals for resolutions are stated in the notice.

Information at the annual general meeting
The board of directors and the CEO shall, if any shareholder so requests and the board of directors believes that it can be done without material harm to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that can affect the assessment of the Company’s or its subsidiaries’ financial situation and the Company’s relation to other companies within the group.

Shareholders who wish to submit a question in advance can do so by mail to Jenny Olsson at the address Acconeer AB, Att: “AGM 2024” Västra Varvsgatan 19, SE-211 77 Malmö or by email to info@acconeer.com. Submissions should include the name of the shareholder including such shareholder’s personal or organisation number. It is also recommended that the submission includes the shareholder’s postal address, email address and telephone number.

Shares and votes in the Company
The total number of shares and votes in the Company amount to 26,637,783, as per the date of this notice. The Company does not hold any own shares.

Processing of personal data
For information on how your personal data is processed, the Company refers to the integrity policy available on Euroclear Sweden AB’s website https://www.euroclear.com/dam/ESw/Legal/Privacy%20notice%20BOSS%20-%20final%20220324.pdf.

____________

Malmö in March 2024
Acconeer AB
The Board of Directors

NOTICE TO EXTRAORDINARY GENERAL MEETING IN ACCONEER AB (PUBL)

By

The shareholders of Acconeer AB (publ), org. no. 556872–7654 (the "Company"), are hereby invited to the extraordinary general meeting to be held on 1 March 2024 at 09:00 CET at the Company's office at Västra Varvsgatan 19, in Malmö. Registration for the meeting commences at 08:30 CET.

Right to participate and registration
A shareholder who wishes to participate in the extraordinary general meeting must:

(i) be entered in the register of shareholders maintained by Euroclear Sweden AB on 22 February 2024; and
(ii) notify the Company of its attendance no later than 26 February 2024 to Acconeer AB (publ), "EGM", Västra Varvsgatan 19, 211 77 Malmö, Sweden, or via e-mail to info@acconeer.com. The notification shall state full name, personal registration number or company registration number, address and telephone number, number of shares held and proxies if applicable.

Nominee registered shares
Shareholders whose shares are held in the name of a nominee must, in order to be able to participate at the extraordinary general meeting and exercise their voting right, temporarily re-register the shares in their own name in the share register maintained by Euroclear Sweden AB (so-called voting right registration). When preparing the share register for the extraordinary general meeting per the record date, 22 February 2024, voting right registrations completed by the nominee no later than 26 February 2024 will be considered. This means that shareholders must request the nominee to complete such voting right registration well in advance of 26 February 2024.

Proxies
Shareholders represented by proxy shall issue a written and dated power of attorney. If the proxy is issued by a legal person, a certified copy of the registration certificate or similar papers of authorisation must be appended. The proxy, in its original form, as well as any registration certificates, should be submitted well in advance of the meeting to Acconeer AB (publ), "EGM", Västra Varvsgatan 19, 211 77 Malmö, Sweden. The power of attorney must not be older than one year unless a longer validity term is specifically stated in the power of attorney (however no longer than five years). Proxy forms are available on the Company's website, www.acconeer.com.

Proposed agenda

  1. Opening of the meeting
  2. Election of chairman of the meeting
  3. Preparation and approval of the voting list
  4. Election of one or two persons who shall approve the minutes of the meeting
  5. Determination of whether the meeting has been duly convened
  6. Approval of the agenda
  7. Resolution to amend the articles of association
  8. Resolution regarding issue authorisation
  9. Closing of the meeting

RESOLUTION PROPOSALS

Item 7 – Resolution to amend the articles of association
The board of directors proposes that the extraordinary general meeting resolves to amend the articles of association in accordance with items 7(a) and 7(b) below.

Resolutions according to items 7(a)-7(b) below are conditional upon that, and shall be submitted for registration with the Swedish Companies Registration Office after, the Company has resolved on a new issue of shares on the basis of and subject to the extraordinary general meeting's approval of the proposal regarding issue authorisation in accordance with item 8 below. Further, the board of directors proposes that the board of directors is authorised to submit for registration with the Swedish Companies Registration Office, the articles of association in accordance with item 7(a) or item 7(b) which limits for the minimum and maximum number of shares and share capital in the Company are compatible with the total number of shares and share capital in the Company after the board of directors has resolved on such a new issue. In the event that the total number of shares and share capital in the Company after the board of directors has resolved on such new issue is compatible with the amendments to the articles of association under both item 7(a) and item 7(b) below, the articles of associations that sets out the lowest number of shares and share capital in the Company shall be submitted for registration.

Item 7(a)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.

Current wording Section 4:
The share capital shall not be less than SEK 500,000 and not more than SEK 2,000,000.

Proposed wording Section 4:
The share capital shall not be less than SEK 1,250,000 and not more than SEK 5,000,000.

Current wording Section 5:
The number of shares shall not be less than 10,000,000 and not more than 40,000,000.

Proposed wording Section 5:
The number of shares shall not be less than 25,000,000 and not more than 100,000,000.

Item 7(b)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.

Current wording Section 4:
The share capital shall not be less than SEK 500,000 and not more than SEK 2,000,000.

Proposed wording Section 4:
The share capital shall not be less than SEK 5,000,000 and not more than SEK 20,000,000.

Current wording Section 5:
The number of shares shall not be less than 10,000,000 and not more than 40,000,000.

Proposed wording Section 5:
The number of shares shall not be less than 100,000,000 and not more than 400,000,000.

A resolution in accordance with items 7(a)-(b) above shall only be valid where supported by not less than two-thirds of both votes cast and the shares represented at the extraordinary general meeting.

Item 8 – Resolution regarding issue authorisation
The board of directors proposes that the extraordinary general meeting authorises the board of directors to, on one or more occasions, during the period until the next annual general meeting, resolve on issues of new shares, warrants and/or convertibles, with preferential rights for the Company's existing shareholders. The Company's share capital and number of shares may, by virtue of the authorisation, be increased with an amount and number that falls within the limits of the, at any time registered, or by the extraordinary general meeting adopted, articles of association.

New issues may be made against cash payment, in kind and/or through set-off, or otherwise be subject to conditions. The board of directors shall be entitled to determine the other terms and conditions for issues under this authorisation and who shall be entitled to subscribe for issued securities.

The board of directors also proposes that the board of directors, or the person appointed by the board of directors, shall be entitled to make the minor changes to the resolution of the extraordinary general meeting that may be required in connection with registration with the Swedish Companies Registration Office or for other administrative reasons.

Documentation
The board of directors' complete proposals (complete in this notice) and associated documents will be available at the Company’s office and on the Company’s website, www.acconeer.com, no later than two weeks prior to the extraordinary general meeting and will be sent to shareholders who so request and provide their postal address.

Shareholders’ right to request information
Shareholders are reminded of their right to request information from the board of directors and CEO in accordance with Chapter 7 Section 32 of the Swedish Companies Act.

Use of personal data
For information regarding the processing of your personal data, please see the integrity policy that is available at Euroclear Sweden AB’s website: www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

Acconeer AB (publ) has org. no. 556872–7654 and its registered office in Malmö.

N.B. This notice has been prepared in both Swedish and English language versions. In the event of any deviations between the versions, the Swedish version shall prevail.

_________________

Malmö in January 2024
Acconeer AB (publ)
The board of directors

For further information, contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

The information was submitted, through the agency of the contact person above, for publication at 20:30 CET on 29 January 2024.

About Acconeer AB (publ)
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Notice of Annual General Meeting 2023 in Acconeer AB (publ)

By

The Annual General Meeting of Acconeer AB (publ), reg. no. 556872-7654, (the "Company") will be held on 27 April 2023 at 17:30, Clarion Hotel & Congress Malmö Live, Dag Hammarskjölds Torg 2 in Malmö.

Notification etc.
Those who wish to participate in the annual general meeting must:

(i)  be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances as per the record date of 19 April 2023; and

(ii)  give notice of intent to participate no later than 21 April 2023. Notification shall be made either in writing to Acconeer AB, att: Jenny Olsson, Västra Varvsgatan 19, SE-211 77 Malmö, or by email, info@acconeer.com.

The notice shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two (2). The notification should, where appropriate, be accompanied by proxies, registration certificates and other documents of authority.

In order to be entitled to participate in the meeting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the annual general meeting, register its shares in its own name so that the shareholder is listed in the share register as of the record date of 19 April 2023. Such re-registration may be temporary (so-called voting rights registration), and a request for such voting rights registration shall be made to the nominee, in accordance with the nominee's routines, at such time in advance as decided by the nominee. Voting rights registration that has been made by the nominee no later than the second banking day after 19 April 2023, will be taken into account in the presentation of the share register.

Proxies etc.
If a shareholder is to vote through a proxy, a written, dated and signed proxy by the shareholder must be provided at the general meeting. The proxy may not be older than one (1) year, unless longer validity (maximum of five (5) years) is stated in the proxy. If the proxy is issued by a legal entity, the current registration certificate or equivalent authorisation document for the legal entity must also be provided. To facilitate an easier passing, a copy of the proxy and other documents of authority should be enclosed with the registration for the general meeting. Proxy forms will be kept available on the Company's website, www.acconeer.com, and at the Company's head office and will be sent by post to shareholders who contact the Company and state their address.

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman of the meeting.
  3. Election of one or two persons to approve the minutes.
  4. Preparation and approval of the voting list.
  5. Approval of agenda.
  6. Determination as to whether the meeting has been duly convened.
  7. Presentation of the annual report and the auditor's report.
  8. Address by the CEO.
  9. Resolution on:
    1. Adoption of the income statement and balance sheet.
    2. Disposition of the Company's profit or loss according to the established balance sheet.
    3. Discharge from liability of the board of directors and the CEO.
  10. Determination of fees to the board of directors and the auditors.
  11. Election of the board of directors and the auditor.
  12. Resolution on:
    1. Directed issue of warrants (Warrant Program 2023/2027).
    2. Approval of transfer of warrants.
  13. Resolution on authorisation for the board of directors to resolve on issue of shares.
  14. Closing of the meeting.

 

Item 2 Election of the chairman of the meeting
The board of directors has proposed that attorney at law (Sw. advokat) Henric Stråth, Moll Wendén Law Firm, be elected chairman of the meeting.

Item 9.B – Resolution on disposition of the Company's profit or loss
The board of directors has proposed to the 2023 annual general meeting that no dividend is paid and that the funds at the disposal of the general meeting are carried forward.

Item 10 Determination of fees to the Board and the auditor
A group of shareholders have proposed that the fees to the board of directors, for the period until the next annual general meeting, be paid out with a total of seventeen (17) price base amounts (Sw. prisbasbelopp), of which five (5) price base amounts to the chairman and three (3) price base amounts each to the other members elected by the annual general meeting who are not employed by the Company.

The board of directors has proposed that the fee to the auditor is to be paid according to approved invoice.

Item 11 Election of the board of directors and auditor
A group of shareholders have proposed that the number of board members shall be five (5), that the number of auditors shall be one (1), and that no deputy auditors shall be appointed.

A group of shareholders have proposed that the board of directors shall consist of the following members: Bengt Adolfsson (re-election), Lars-Erik Wernersson (re-election), Git Sturesjö Adolfsson (re-election), Thomas Rex (re-election) and Johan Paulsson (re-election). It is proposed that Thomas Rex is re-elected chairman of the board.

Information regarding the proposed members of the board of directors is available on the Company's website, investor.acconeer.com.

Furthermore, it has been proposed that the registered auditing company KPMG AB is elected for the period until the end of the next annual general meeting. KPMG AB has announced that, should the annual general meeting approve the proposal, the authorised public accountant Jonas Nihlberg will be the auditor-in-charge.

 

Item 12 Proposal for a decision on the directed issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive
The board of directors has proposed that the annual general meeting resolves on a warrant-based incentive program for the individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO of the Company ("Employees") in accordance with the conditions set out below ("Warrant Program 2023/2027").

The purpose of the proposed program and the reasons for the deviation from the shareholders' preferential rights are that the board of directors believes that a warrant program that allows the Employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors proposes that the annual general meeting resolve to (A) issue warrants of series 2023/2027 to the Subsidiary (as defined below) and (B) approve the transfer of warrants series 2023/2027 from the Subsidiary to the Employees in accordance with item 12.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 12.A – Directed issue of warrants
For the implementation of Warrant Program 2023/2027, the board of directors proposes that the annual general meeting resolves to issue a maximum of 500,000 warrants of series 2023/2027, implying an increase in the share capital upon full exercise with a maximum of SEK 25,000.

For the decision, the following conditions shall apply:

  1. No more than 500,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Company's wholly-owned subsidiary Acconeer Incentive AB, reg. no. 559156-2474 (the "Subsidiary"), with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 24 March 2027 up to and including 5 May 2027. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 8 March 2024, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2023/2027 for new subscription of shares in Acconeer AB (publ)".
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor adjustments to the annual general meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office or, where applicable, Euroclear Sweden AB.

Item 12.B – Approval of transfer of warrants to Employees
Warrant Program 2023/2027 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 15 March 2024, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 12.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
  • On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one fifth (1/5) of the Employee's annual income prior to income tax.
  • No more than 500,000 warrants in total may be allotted on each occasion.
  1. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee's annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  2. Transfer of warrants may not take place after the annual general meeting 2024, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  3. The right to transfer warrants in Warrant Program 2023/2027 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii) that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors' assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant's company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant's employment/consultancy assignment ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and adjustments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.
  4. For participants in other jurisdictions than Sweden, it is implied that transfer of warrants is legally possible and that transfer, in the board of directors' opinion, can be carried out with reasonable administrative and financial efforts at their established fair market value. The board of directors shall be authorised to adjust the terms and conditions of the Warrants Program 2023/2027 to the extent required in order for allotment of warrants to participants in other jurisdictions, to the extent practically possible, to be carried out under the same conditions imposed by the Warrants Program 2023/2027.

Award criteria
No award criteria, beyond what is stated in item 12.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a broad program that includes all Employees provides the best conditions to achieve the board of directors' goals of implementing the program: committed, motivated and competent co-workers.

Valuation
Subscription of the warrants shall be made at a price equal to the warrant's fair market value the day of subscription. The warrants' fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 38.57 at subscription and an exercise price of SEK 57.85 per share, SEK 7.44 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of 2.643 per cent and a volatility assumption of 48.6 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so-called illiquidity discount of 15.1 per cent has been applied to the warrants' value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs
Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2023/2027 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios
As per the day of this proposal, there are 26,331,798 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2023/2027 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 500,000, which corresponds to a dilution of approximately 1.86 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company's key ratios.

The Company currently has five ongoing share-based incentive programs: Warrant Program 2020/2023, Warrant Program 2021/2024:1, Warrant Program 2021/2024:2, Warrant Program 2022/2026 and Warrant Program 2023/2026.

The annual general meeting resolved on 14 April 2020 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 4 of these, through Warrants Program 2020/2023. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 1 May 2023 to and including 30 June 2023, call for subscription of a new share in the Company at a subscription price corresponding to 120 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 until 13 April 2020.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 82,497 of these, through Warrant Program 2021/2024:1. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 May 2024 to and including 30 September 2024, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 23 April 2021.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 192,862 of these, through Warrant Program 2021/2024:2. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 November 2024 to and including 31 Mars 2025, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 28 October 2021.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 76,485 of these, through Warrant Program 2022/2026. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 3 December 2025 to and including 16 January 2026, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 11 November 2022.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 166,197 of these, through Warrant Program 2023/2026. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 25 March 2026 to and including 8 May 2026, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 3 March 2023.

If (i) all outstanding warrants issued in connection with the ongoing incentive programs, excluding the warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2023/2027 in accordance with the proposal, and (iii) all warrants that can be issued in or in connection with Warrant Program 2023/2027 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 1,481,955, which corresponds to a total dilution of approximately 5.33 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal
The proposal for resolution on the implementation of Warrant Program 2023/2027 and the proposals of resolutions according to item 12.A and 12.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2023/2027, has not participated in the preparation of the proposal.

Majority requirements
The resolution of the annual general meeting in accordance with the board of directors' proposals under items 12.A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Item 13 – Proposal for a decision regarding authorisation of the board of directors to issue new shares
The board of directors proposes that the meeting authorises the board of directors until the next annual general meeting to, on one or more occasions, resolve to increase the Company's share capital by issue of no more than shares corresponding to twenty-five (25) per cent of the total number of shares in the Company at the time of the meeting's decision of authorisation.

However, such issues may not cause the share capital in the Company to exceed the Company's highest allowed share capital according to the articles of association. The board of directors may deviate from the shareholders' preferential rights. The reason for the board of directors' authorisation to deviate from the shareholders' preferential rights is to enable the Company to raise new capital and to take advantage of future opportunities to attract new long-term owners, and to finance the Company's growth strategy. The authorisation also includes the right to decide on payment for the issued shares by set-off, in kind or with other conditions as referred in Chapter 13, section 5, item 6 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). At a deviation from the shareholders' preferential rights, the issue rate shall be determined in accordance with market conditions, taking into account any discount on market terms.

For a valid resolution on the proposal in this item, the proposal has to be supported by shareholders representing at least two-thirds (2/3) of the votes cast as well as shares represented at the meeting.

Available documents
The complete proposals and other documents that shall be made available prior to the annual general meeting pursuant to the Swedish Companies Act will be made available at the Company and at the Company's website, www.acconeer.com, at least three weeks prior to the annual general meeting. The documents will also be sent free of charge to shareholders who so request and provide their address to the Company. In other respects, the board of directors' complete proposals for resolutions are stated in the notice.

Information at the annual general meeting
The board of directors and the CEO shall, if any shareholder so requests and the board of directors believes that it can be done without material harm to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that can affect the assessment of the Company's or its subsidiaries' financial situation and the Company's relation to other companies within the group.

Shareholders who wish to submit a question in advance can do so by mail to Jenny Olsson at the address Acconeer AB, Att: "AGM 2023" Västra Varvsgatan 19, SE-211 77 Malmö or by email to info@acconeer.com. Submissions should include the name of the shareholder including such shareholder's personal or organisation number. It is also recommended that the submission includes the shareholder's postal address, email address and telephone number.

Shares and votes in the Company
The total number of shares and votes in the Company amount to 26,331,798, as per the date of this notice. The Company does not hold any own shares.

Processing of personal data
For information on how your personal data is processed, the Company refers to the integrity policy available on Euroclear Sweden AB's website https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

____________

Malmö in March 2023
Acconeer AB
The Board of Directors

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

For further information, please contact:
Lars Lindell, CEO
Tel. +46 (0)10 218 92 00
ir@acconeer.com
www.acconeer.com 

The following documents can be retrieved from beQuoted
Acconeer Notice-AGM-2023.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Notice of Annual General Meeting 2022 in Acconeer AB (publ)

By

The Annual General Meeting of Acconeer AB (publ), reg. no. 556872-7654, (the "Company") will be
held on 26 April 2022 at 16:30, Clarion Hotel & Congress Malmö Live, Dag Hammarskjölds Torg 2 in
Malmö.

Notification etc.
Those who wish to participate in the annual general meeting must:

(i) be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances as per the record date of 14 April 2022;
and
(ii) give notice of intent to participate no later than 20 April 2022. Notification shall be made either in writing to Acconeer AB, att: Jenny Olsson, Västra Varvsgatan 19, SE-211 77 Malmö, or by email, info@acconeer.com.

The notice shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two (2). The notification should, where appropriate, be accompanied by proxies, registration certificates and other documents of authority.

In order to be entitled to participate in the meeting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the annual general meeting, register its shares in its own name so that the shareholder is listed in the share register as of the record date of 14 April 2022. Such re-registration may be temporary (so-called voting rights registration), and a request for such voting rights registration shall be made to the nominee, in accordance with the nominee's routines, at such time in advance as decided by the nominee. Voting rights registration that has been made by the nominee no later than 20 April 2022, will be taken into account in the presentation of the share register.

Proxies etc.
If a shareholder is to vote through a proxy, a written, dated and signed proxy by the shareholder must be provided at the general meeting. The proxy may not be older than one (1) year, unless longer validity (maximum of five (5) years) is stated in the proxy. If the proxy is issued by a legal entity, the current registration certificate or equivalent authorisation document for the legal entity must also be provided. To facilitate an easier passing, a copy of the proxy and other documents of authority should be enclosed with the registration for the general meeting. Proxy forms will be kept available on the Company's website, www.acconeer.com, and at the Company's head office and will be sent by post to shareholders who contact the Company and state their address.

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman of the meeting.
  3. Election of one or two persons to approve the minutes.
  4. Preparation and approval of the voting list.
  5. Approval of agenda.
  6. Determination as to whether the meeting has been duly convened.
  7. Presentation of the annual report and the auditor's report.
  8. Address by the CEO.
  9. Resolution on:
    A. Adoption of the income statement and balance sheet.
    B. Disposition of the Company's profit or loss according to the established balance sheet.
    C. Discharge from liability of the board of directors and the CEO.
  10. Determination of fees to the board of directors and the auditors.
  11. Election of the board of directors and the auditor.
  12. Resolution on:
    A. Directed issue of warrants (Warrant Program 2022/2026).
    B. Approval of transfer of warrants.
  13. Resolution on:
    A. Directed issue of warrants (Warrant Program 2023/2026).
    B. Approval of transfer of warrants.
  14. Resolution on authorisation for the board of directors to resolve on issue of shares.
  15. Closing of the meeting.

Item 2 – Election of the chairman of the meeting
The board of directors has proposed that attorney at law (Sw. advokat) Henric Stråth, Moll Wendén Law Firm, be elected chairman of the meeting.

Item 9.B – Resolution on disposition of the Company's profit or loss
The board of directors has proposed to the 2022 annual general meeting that no dividend is paid and that the funds at the disposal of the general meeting are carried forward.

Item 10 – Determination of fees to the Board and the auditor
A group of shareholders have proposed that the fees to the board of directors, for the period until the next annual general meeting, be paid out with a total of twelve (12) price base amounts (Sw. prisbasbelopp), of which four (4) price base amounts to the chairman and two (2) price base amounts each to the other members elected by the annual general meeting who are not employed by the Company.

The board of directors has proposed that the fee to the auditor is to be paid according to approved invoice.

Item 11 – Election of the board of directors and auditor
A group of shareholders have proposed that the number of board members shall be five (5), that the number of auditors shall be one (1), and that no deputy auditors shall be appointed.

A group of shareholders have proposed that the board of directors shall consist of the following members: Bengt Adolfsson (re-election), Lars-Erik Wenersson (re-election), Git Sturesjö Adolfsson (reelection), Thomas Rex (re-election) and Johan Paulsson (re-election). It is proposed that Thomas Rex is re-elected chairman of the board.

Information regarding the proposed members of the board of directors is available on the Company's website, investor.acconeer.com.

Furthermore, it has been proposed that the registered auditing company KPMG AB is elected for the period until the end of the next annual general meeting. KPMG AB has announced that, should the annual general meeting approve the proposal, the authorised public accountant Jonas Nihlberg will be the auditor-in-charge.

Item 12 – Proposal for a decision on the directed issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive
The board of directors has proposed that the annual general meeting resolves on a warrant-based incentive program for the individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO of the Company ("Employees") in accordance with the conditions set out below ("Warrant Program 2022/2026").

The purpose of the proposed program and the reasons for the deviation from the shareholders' preferential rights are that the board of directors believes that a warrant program that allows the Employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors propose that the annual general meeting resolve to (A) issue warrants of series 2022/2026 to the Subsidiary (as defined below) and (B) approve the transfer of warrants series 2022/2026 from the Subsidiary to the Employees in accordance with item 12.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 12.A – Directed issue of warrants
For the implementation of Warrant Program 2022/2026, the board of directors propose that the annual general meeting resolves to issue a maximum of 300,000 warrants of series 2022/2026, implying an increase in the share capital upon full exercise with a maximum of SEK 15,000.

For the decision, the following conditions shall apply:

  1. No more than 300,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Company's wholly-owned subsidiary Acconeer Incentive AB, reg. no. 559156-2474 (the "Subsidiary") with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 3 December 2025 up to and including 16 January 2026. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 11 November 2022, however, the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2022/2026 for new subscription of shares in Acconeer AB (publ)".
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor adjustments to the annual general meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office
    or, where applicable, Euroclear Sweden AB.

Item 12.B – Approval of transfer of warrants to Employees
Warrant Program 2022/2026 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 18 November 2022, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 12.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
    * On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one fifth (1/5) of the Employee's annual income prior to income tax.
    * No more than 300,000 warrants in total may be allotted on each occasion.
  4. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee's annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  5. Transfer of warrants may not take place after the annual general meeting 2023, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  6. The right to transfer warrants in Warrant Program 2022/2026 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii)
    that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors' assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant's
    company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant's employment/consultancy assignment
    ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and adjustments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.
  7. For participants in other jurisdictions than Sweden, it is implied that transfer of warrants is legally possible and that transfer, in the board of directors' opinion, can be carried out with reasonable administrative and financial efforts at their established fair market value. The board of directors shall be authorised to adjust the terms and conditions of the Warrants Program 2022/2026 to the extent required in order for allotment of warrants to participants in other jurisdictions, to the extent practically possible, to be carried out under the same conditions imposed by the Warrants Program 2022/2026.

Award criteria
No award criteria, beyond what is stated in item 12.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a broad program that includes all Employees provides the best conditions to achieve the board of directors' goals of implementing the program: committed, motivated and competent co-workers.

Valuation
Subscription of the warrants shall be made at a price equal to the warrant's fair market value the day of subscription. The warrants' fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 48.23 at subscription and an exercise price of SEK 72.34 per share, SEK 6.93 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of 0.549 per cent and a volatility assumption of 41.7 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so-called illiquidity discount of 15.2 per cent has been applied to the warrants' value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs
Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2022/2026 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios
As per the day of this proposal, there are 25,720,750 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2022/2026 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 300,000, which corresponds to a dilution of approximately 1.15 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company's key ratios.

The Company currently has four ongoing share-based incentive programs: Warrant Program 2019/2022, Warrant Program 2020/2023, Warrant Program 2021/2024:1 and Warrant Program 2021/2024:2.

The annual general meeting resolved on 9 April 2019 to issue a maximum of 600,000 warrants to the Subsidiary through Warrant Program 2019/2022. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 1 May 2022 to and including 30 June 2022, call for subscription of a new share in the Company at a subscription price corresponding to 140 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 26 March 2019 until 8 April 2019.

The annual general meeting resolved on 14 April 2020 to issue a maximum of 300,000 warrants to the Subsidiary through Warrants Program 2020/2023. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company.

The warrant holders have the right to, during the period from and including 1 May 2023 to and including 30 June 2023, call for subscription of a new share in the Company at a subscription price corresponding to 120 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 until 13 April 2020.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 82,497 of these, through Warrant Program 2021/2024:1. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 May 2024 to and including 30 September 2024, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 23 April 2021.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 192,862 of these, through Warrant Program 2021/2024:2. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 November 2024 to and including 31 Mars 2025, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 28 October 2021.

Besides Warrant Program 2022/2026, the board of directors proposes that the annual general meeting of 26 April 2022 resolves to implement Warrant Program 2023/2026 (see item 13).

If (i) all outstanding warrants issued in connection with the ongoing incentive programs, excluding the warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2022/2026 and Warrant Program 2023/2026 in accordance with the proposals, and (iii) all warrants that can be issued in or in connection with Warrant Program 2022/2026 and Warrant Program 2023/2026 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 1,824,641, which corresponds to a total dilution of approximately 6.62 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal
The proposal for resolution on the implementation of Warrant Program 2022/2026 and the proposals of resolutions according to item 12.A and 12.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2022/2026, has not participated in the preparation of the proposal.

Majority requirements
The resolution of the annual general meeting in accordance with the board of directors' proposals under items 12.A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Item 13 – Proposal for a decision on the directed issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive
The board of directors has proposed that the annual general meeting resolves on a warrant-based incentive program for individuals who are or will be Employees (including the CEO) in the Company in accordance with the conditions set out below ("Warrant Program 2023/2026").

The purpose of the proposed program and the reasons for the deviation from the shareholders' preferential rights are that the board of directors believes that a warrant program that allows the Employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors proposes that the annual general meeting resolve to (A) issue warrants series 2023/2026 to the Subsidiary and (B) approve transfer of warrants series 2023/2026 from the Subsidiary to the Employees in accordance with item 13.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 13.A – Directed issue of warrants

For the implementation of Warrant Program 2023/2026, the board of directors propose that the annual general meeting resolves to issue a maximum of 300,000 warrants of series 2023/2026, implying an increase in the share capital upon full exercise with a maximum of SEK 15,000.

For the decision, the following conditions shall apply:

  1. No more than 300,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Subsidiary, with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 25 March 2026 up to and including 8 May 2026. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 3 March 2023, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2023/2026 for new subscription of shares in Acconeer AB (publ)".
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor adjustments to the annual general meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office or, where applicable, Euroclear Sweden AB.

Item 13.B – Approval of transfer of warrants to Employees
Warrant Program 2023/2026 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 10 March 2023, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 13.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
    * On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one fifth (1/5) of the Employee's annual income prior to income tax.
    * No more than 300,000 warrants in total may be allotted on each occasion.
  4. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee's annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  5. Transfer of warrants may not take place after the annual general meeting 2023, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  6. The right to transfer warrants in Warrant Program 2023/2026 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii) that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors' assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant's company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant's employment/consultancy assignment ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and adjustments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.
  7. For participants in other jurisdictions than Sweden, it is implied that transfer of warrants is legally possible and that transfer, in the board of directors' opinion, can be carried out with reasonable administrative and financial efforts at their established fair market value. The board of directors shall be authorised to adjust the terms and conditions of the Warrants Program 2023/2026 to the extent required in order for allotment of warrants to participants in other jurisdictions, to the extent practically possible, to be carried out under the same conditions imposed by the Warrants Program 2023/2026.

Award criteria
No award criteria, beyond what is stated in item 13.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a broad program that includes all Employees provides the best conditions to achieve the board of directors' goals of implementing the program: committed, motivated and competent co-workers.

Valuation
Subscription of the warrants shall be made at a price equal to the warrant's fair market value the day of subscription. The warrants' fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 48.23 at subscription and an exercise price of SEK 72.34 per share, SEK 6.93 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of 0.549 per cent and a volatility assumption of 41.7 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so-called illiquidity discount of 15.2 per cent has been applied to the warrants' value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs
Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2023/2026 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios
As per the day of this proposal, there are 25,720,750 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2023/2026 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 300,000, which corresponds to a dilution of approximately 1.15 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company's key ratios.

The Company currently has four ongoing share-based incentive programs: Warrant Program 2019/2022, Warrant Program 2020/2023, Warrant Program 2021/2024:1 and Warrant Program 2021/2024:2.

The annual general meeting resolved on 9 April 2019 to issue a maximum of 600,000 warrants to the Subsidiary through Warrant Program 2019/2022. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 1 May 2022 to and including 30 June 2022, call for subscription of a new share in the Company at a subscription price corresponding to 140 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 26 March 2019 until 8 April 2019.

The annual general meeting resolved on 14 April 2020 to issue a maximum of 300,000 warrants to the Subsidiary through Warrants Program 2020/2023. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 1 May 2023 to and including 30 June 2023, call for subscription of a new share in the Company at a subscription price corresponding to 120 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 until 13 April 2020.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 82 497 of these, through Warrant Program 2021/2024:1. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 May 2024 to and including 30 September 2024, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 23 April 2021.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 192 862 of these, through Warrant Program 2021/2024:2. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 November 2024 to and including 31 Mars 2025, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 28 October 2021.

Besides Warrant Program 2023/2026, the board of directors proposes that the annual general meeting of 26 April 2022 resolves to implement Warrant Program 2022/2026 (see item 12).

If (i) all outstanding warrants issued in connection with the ongoing incentive programs, excluding the warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2022/2026 and Warrant Program 2023/2026 in accordance with the proposals, and (iii) all warrants that can be issued in or in connection with Warrant Program 2022/2026 and Warrant Program 2023/2026 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 1,824,641, which corresponds to a total dilution of approximately 6.62 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal
The proposal for resolution on the implementation of Warrant Program 2023/2026 and the proposals of resolutions according to item 13.A and 13.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2023/2026, has not participated in the preparation of the proposal.

Majority requirements
The resolution of the annual general meeting in accordance with the board of directors' proposals under items 13.A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Item 14 – Proposal for a decision regarding authorisation of the board of directors to issue new shares
The board of directors proposes that the meeting authorises the board of directors until the next annual general meeting to, on one or more occasions, resolve to increase the Company's share capital by issue of no more than shares corresponding to twenty-five (25) per cent of the total number of shares in the Company at the time of the meeting's decision of authorisation.

However, such issues may not cause the share capital in the Company to exceed the Company's highest allowed share capital according to the articles of association. The board of directors may deviate from the shareholders' preferential rights. The reason for the board of directors' authorisation to deviate from the shareholders' preferential rights is to enable the Company to raise new capital and to take advantage of future opportunities to attract new long-term owners, and to finance the Company's growth strategy. The authorisation also includes the right to decide on payment for the issued shares by set-off, in kind or with other conditions as referred in Chapter 13, section 5, item 6 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). At a deviation from the shareholders' preferential rights, the issue rate shall be determined in accordance with market conditions, taking into account any discount on market terms.

For a valid resolution on the proposal in this item 14, the proposal has to be supported by shareholders representing at least two-thirds (2/3) of the votes cast as well as shares represented at the meeting.

Available documents
The complete proposals and other documents that shall be made available prior to the annual general meeting pursuant to the Swedish Companies Act will be made available at the Company and at the Company's website, www.acconeer.com, at least three weeks prior to the annual general meeting. The documents will also be sent free of charge to shareholders who so request and provide their address to the Company. In other respects, the board of directors' complete proposals for resolutions are stated in the notice.

Information at the annual general meeting
The board of directors and the CEO shall, if any shareholder so requests and the board of directors believes that it can be done without material harm to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that can affect the assessment of the Company's or its subsidiaries' financial situation and the Company's relation to other companies within the group.

Shareholders who wish to submit a question in advance can do so by mail to Jenny Olsson at the address Acconeer AB, Att: "AGM 2022" Västra Varvsgatan 19, 211 77 Malmö or by email to info@acconeer.com. Submissions should include the name of the shareholder including such shareholder's personal or organisation number. It is also recommended that the submission includes the shareholder's postal address, email address and telephone number.

Shares and votes in the Company
The total number of shares and votes in the Company amount to 27,720,750, as per the date of this notice. The Company does not hold any own shares.

Processing of personal data
For information on how your personal data is processed, the Company refers to the integrity policy available on Euroclear Sweden AB's website https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

____________
Malmö in March 2022
Acconeer AB
The Board of Directors

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and
the English translation, the Swedish text shall prevail.

For further information, please contact:
Lars Lindell, CEO
Tel. +46 (0)10 218 92 00
ir@acconeer.com
www.acconeer.com

The following documents can be retrieved from beQuoted
Notice-of-Annual-General-Meeting-2022-in-Acconeer-AB.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA) and can be contacted via telephone +46(0)8 121 576 90 or via e-mail certifiedadviser@redeye.se. For more information: www.acconeer.com.

Notice of Annual General Meeting 2021 in Acconeer AB (publ)

By

The shareholders of Acconeer AB (publ), reg. no. 556872-7654, (the "Company") are hereby given notice that the Annual General Meeting will be held on 27 April 2021.

In order to prevent the spread of the virus causing covid-19, the board of directors has decided that the annual general meeting shall be held without the physical presence of shareholders, proxies or external parties and that the shareholders shall have the opportunity to vote by mail prior to the general meeting.

Information on the resolutions passed by shareholders will be disclosed on 27 April 2021, as soon as the outcome of the postal voting has been finally confirmed.

Notification etc.

Those who wish to participate in the annual general meeting must:

(i) be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances as per the record date of 19 April 2021; and

(ii) give notice of intent to participate no later than 26 April 2021, by casting their postal vote in accordance with the instructions under the heading "Postal voting" below, so that the postal voting form is received by the company no later than that day.

In order to be entitled to participate in the meeting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the annual general meeting, register its shares in its own name so that the shareholder is listed in the share register as of the record date of 19 April 2021. Such re-registration may be temporary (so called voting rights registration), and request for such voting rights registration shall be made to the nominee, in accordance with the nominee's routines, at such time in advance as decided by the nominee. Voting rights registration that have been made by the nominee no later than 21 April 2021, will be taken into account in the presentation of the share register.

Postal voting

The board of directors has decided that shareholders should be able to exercise their voting rights only by postal voting in accordance with section 22 of the Act (2020:198) on temporary exceptions to facilitate the execution of general meetings in companies and other associations. A special form must be used for the postal vote. The form for postal voting is available on the company's website www.acconeer.com and at the company's head office, Scheelevägen 27 in Lund. Completed and signed forms for postal voting can be sent by mail to Acconeer AB (publ), Scheelevägen 27, 223 70 Lund (mark the envelope "Postal voting AGM 2021") or by email to info@acconeer.com. Completed forms must be received by the company no later than 28 April 2021.

The shareholders may not provide special instructions or conditions to the postal vote. If so, the entire postal vote is invalid. Further instructions and conditions can be found in the postal voting form.

Proxies etc.

Shareholders who are casting postal votes via proxy should submit a power of attorney, dated and signed by the shareholder, together with the postal vote. Power of attorney forms are available on the company's website, www.acconeer.com and at the company's head office, Scheelevägen 27 in Lund. If the shareholder is a legal person, certificate of registration or other documents of authority shall be attached to the form.

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman of the meeting.
  3. Election of persons to approve the minutes.
  4. Preparation and approval of the voting list.
  5. Approval of agenda.
  6. Determination as to whether the meeting has been duly convened.
  7. Presentation of the annual report and the auditor's report.
  8. Resolution on:
    A. Adoption of the income statement and balance sheet.
    B. Disposition of the Company's profit or loss according to the established balance sheet.
    C. Discharge from liability of the board of directors and the CEO.
  9. Determination of fees to the board of directors and the auditors.
  10. Election of the board of directors and the auditor.
  11. Resolution on:
    A. Directed issue of warrants (Warrant Program 2021/2024:1).
    B. Approval of transfer of warrants.
  12. Resolution on:
    A. Directed issue of warrants (Warrant Program 2021/2024:2).
    B. Approval of transfer of warrants.
  13. Resolution on authorisation for the board of directors to resolve on issue of shares.
  14. Resolution on amendments to the articles of association.
  15. Closing of the meeting.

Item 1 Election of the chairman of the meeting

The board of directors has proposed that attorney at law (Sw. advokat) Henric Stråth, Moll Wendén Law Firm, be elected chairman of the meeting.

Item 3 – Election of persons to approve the minutes

The board of directors proposes Per Odenius and Björn Bengtsson, or if one or both of them are prevented from participating, the person(s) appointed by the board of directors, to approve the minutes. The assignment to approve the minutes also include checking the voting list and that the received postal votes are correctly reflected in the minutes of the meeting.

Item 4 – Preparation and approval of the voting list

The voting list proposed to be approved is the voting list prepared by the Company, based on the general meeting share register and received postal votes, controlled and checked by the persons assigned to approve the minutes.

Item 8.B – Resolution on disposition of the Company's profit or loss

The board of directors has proposed that no dividend is paid for the financial year 2020 and that the Company's funds available for distribution, including the loss of the year, is carried forward.

Item 9 Determination of fees to the Board and the auditor

A group of shareholders have proposed that the fees to the board of directors, for the period until the next annual general meeting, be paid out with a total of twelve (12) price base amounts (Sw. prisbasbelopp), of which four (4) price base amounts to the chairman and two (2) price base amounts each to the other members elected by the annual general meeting who are not employed by the Company.

The board of directors has proposed that the fee to the auditor is to be paid according to approved invoice.

Item 10 Election of the board of directors and auditor

A group of shareholders have proposed that the number of board members shall be five (5), that the number of auditors shall be one (1), and that no deputy auditors shall be appointed.

A group of shareholders have proposed that the board of directors shall consist of the following members: Bengt Adolfsson (re-election), Lars-Erik Wenersson (re-election), Git Sturesjö Adolfsson (re-election), Thomas Rex (re-election) and Johan Paulsson (re-election). It is proposed that Thomas Rex is re-elected chairman of the board.

Information regarding the proposed members of the board of directors is available on the Company's website, investor.acconeer.com.

Furthermore, it has been proposed that the registered auditing company Öhrlings PricewaterhouseCoopers AB is re-elected for a term of one year. Öhrlings PricewaterhouseCoopers AB has announced that, should the annual general meeting approve the proposal, the authorised public accountant Ola Bjärehäll will continue as the auditor-in-charge.

Item 11 Proposal for a decision on the issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive

The board of directors has proposed that the annual general meeting resolves on a warrant based incentive program for the individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO ("Employees") in accordance with the conditions set out below ("Warrant Program 2021/2024:1").

The purpose of the proposed program and the reasons for the deviation from the shareholders' preferential rights are that the board of directors believes that a warrant program that allows employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors propose that the annual general meeting resolve to (A) issue warrants of series 2021/2024:1 to the Subsidiary (as defined below) and (B) approve the transfer of warrants series 2021/2024:1 from the Subsidiary to Employees in accordance with item 11.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 11.A – Directed issue of warrants (Warrant Program 2021/2024:1)

For the implementation of Warrant Program 2021/2024:1, the board of directors propose that the annual general meeting resolves to issue a maximum of 300,000 warrants of series 2021/2024:1, implying an increase in the share capital upon full exercise with a maximum of SEK 15,000.

For the decision, the following conditions shall apply:

  1. No more than 300,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Company's wholly-owned subsidiary Acconeer Incentive AB, reg. no. 559156-2474 (the "Subsidiary") with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 15 May 2024 until 30 September 2024. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 23 April 2021, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2021/2024:1 for new subscription of shares in Acconeer AB (publ)".
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor adjustments to the annual general meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office or, where applicable, Euroclear Sweden AB.

Item 11.B – Approval of transfer of warrants

Warrant Program 2021/2024:1 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 2 May 2021, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 11.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
    o On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one tenth (1/10) of the Employee's annual income prior to income tax.
    o No more than 300,000 warrants in total may be allotted at each occasion.
  4. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee's annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  5. Transfer of warrants may not take place after the annual general meeting 2022, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  6. The right to transfer warrants in Warrant Program 2021/2024:1 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii) that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors' assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant's company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant's employment/consultancy assignment ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and adjustments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.

Award criteria

No award criteria, beyond what is stated in item 11.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believe that a broad program that includes all Employees provides the best conditions to achieve the board of directors' goals of implementing the program: committed, motivated and competent co-workers.

Valuation

Subscription of the warrants shall be made at a price equal to the warrant's fair market value the day of subscription. The warrants' fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 29.86 at subscription and an exercise price of SEK 31.81 per share, SEK 4.99 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of -0.217 per cent and a volatility assumption of 40.3 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so called illiquidity discount of 15.2 per cent has been applied to the warrants' value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs

Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2021/2024:1 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios

As per the day of this proposal, there are 23,300,500 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2021/2024:1 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 300,000, which corresponds to a dilution of approximately 1.27 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company's key ratios.

The Company currently has three ongoing share-based incentive programs: Warrant Program 2018/2021, Warrant Program 2019/2022 and Warrant Program 2020/2023.

The annual general meeting resolved on 5 April 2018 to, through the Warrant Program 2018/2021, issue a maximum of 200,000 warrants to the Subsidiary, which as of today holds 118,000 of these. The incentive program includes the Company's employees. The warrant holders have the right to, during the period from and including 1 May 2021 to and including 30 June 2021, call for subscription of a new share in the Company at a subscription price corresponding to 140 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 27 April 2018 until 7 May 2018. The annual general meeting resolved on 9 April 2019 to issue a maximum of 600,000 warrants to the Subsidiary through Warrant Program 2019/2022. The incentive program includes the Company's employees. The warrant holders have the right to, during the period from and including 1 May 2022 to and including 30 June 2022, call for subscription of a new share in the Company at a subscription price corresponding to 140 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 26 March 2019 until 9 April 2019. The annual general meeting resolved on 14 April 2020 to issue a maximum of 300,000 warrants to the Subsidiary through Warrants Program 2020/2023. The incentive program includes people who are or will be employed by the Company (but not fixed-term employees) including the CEO. The warrant holders have the right to, during the period from and including 1 May 2023 to and including 30 June 2023, call for subscription of a new share in the Company at a subscription price corresponding to 120 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 until 13 April 2020.

Besides Warrant Program 2021/2024:1, the board of directors proposes that the annual general meeting of 27 April 2021 resolves to implement Warrant Program 2021/2024:2 (see item 12).

If (i) all outstanding warrants issued in connection to ongoing incentive programs, excluding the warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2021/2024:1 and Warrant Program 2021/2024:2 in accordance with the proposals, and (iii) all warrants that can be issued in or in connection to ongoing incentive programs, Warrant Program 2021/2024:1 and Warrant Program 2021/2024:2 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 982,000, which corresponds to a total dilution of approximately 4.04 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal

The proposal for resolution on the implementation of Warrant Program 2021/2024:1 and the proposals of resolutions according to item 11.A and 11.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2021/2024:1, has not participated in the preparation of the proposal.

Majority requirements

The resolution of the annual general meeting in accordance with the board of director's proposals under items 11.A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Item 12 Proposal for a decision on the issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive

The board of directors has proposed that the annual general meeting resolves on a warrant based incentive program for individuals who are or will be Employees in accordance with the conditions set out below ("Warrant Program 2021/2024:2").

The purpose of the proposed program and the reasons for the deviation from the shareholders' preferential rights are that the board of directors believes that a warrant program that allows employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors proposes that the annual general meeting resolve to (A) issue warrants series 2021/2024:2 to the Subsidiary and (B) approve transfer of warrants series 2021/2024:2 from the Subsidiary to Employees in accordance with item 12.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 12.A – Directed issue of warrants (warrant program 2021/2024:2)

For the implementation of Warrant Program 2021/2024:2, the board of directors propose that the annual general meeting resolves to issue a maximum of 300,000 warrants of series 2021/2024:2, implying an increase in the share capital upon full exercise with a maximum of SEK 15,000.

For the decision, the following conditions shall apply:

  1. No more than 300,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Subsidiary, with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 15 November 2024 until 31 March 2024. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 28 October 2021, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2021/2024:2 for new subscription of shares in Acconeer AB (publ)".
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor adjustments to the annual general meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office or, where applicable, Euroclear Sweden AB.

Item 12.B – Approval of transfer of warrants

Warrant Program 2021/2024:2 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 2 November 2021, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 12.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
    o On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one tenth (1/10) of the Employee's annual income prior to income tax.
    o No more than 300,000 warrants in total may be allotted at each occasion.
  4. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee's annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  5. Transfer of warrants may not take place after the annual general meeting 2022, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  6. The right to transfer warrants in Warrant Program 2021/2024:2 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii) that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors' assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant's company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant's employment/consultancy assignment ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and adjustments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.

Award criteria

No award criteria, beyond what is stated in item 12.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a broad program that includes all Employees provides the best conditions to achieve the board of directors' goals of implementing the program: committed, motivated and competent co-workers.

Valuation

Subscription of the warrants shall be made at a price equal to the warrant's fair market value the day of subscription. The warrants' fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 29.86 at subscription and an exercise price of SEK 31.81 per share, SEK 5.51 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of -0.186 per cent and a volatility assumption of 40.3 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the inliquidity in the warrants, a so called illiquidity discount of 17.7 per cent has been applied to the warrants' value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs

Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2021/2024:2 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios

As per the day of this proposal, there are 23,300,500 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2021/2024:2 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 300,000, which corresponds to a dilution of approximately 1.27 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company's key ratios.

The Company currently has three ongoing share-based incentive programs: Warrant Program 2018/2021, Warrant Program 2019/2022 and Warrant Program 2020/2023.

The annual general meeting resolved on 5 April 2018 to, through the Warrant Program 2018/2021, issue a maximum of 200,000 warrants to the Subsidiary, which as of today holds 118,000 of these. The incentive program includes the Company's employees. The warrant holders have the right to, during the period from and including 1 May 2021 to and including 30 June 2021, call for subscription of a new share in the Company at a subscription price corresponding to 140 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 27 April 2018 until 7 May 2018. The annual general meeting resolved on 9 April 2019 to issue a maximum of 600,000 warrants to the Subsidiary through Warrant Program 2019/2022. The incentive program includes the Company's employees. The warrant holders have the right to, during the period from and including 1 May 2022 to and including 30 June 2022, call for subscription of a new share in the Company at a subscription price corresponding to 140 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 26 March 2019 until 9 April 2019. The annual general meeting resolved on 14 April 2020 to issue a maximum of 300,000 warrants to the Subsidiary through Warrants Program 2020/2023. The incentive program includes people who are or will be employed by the Company (but not fixed-term employees) including the CEO. The warrant holders have the right to, during the period from and including 1 May 2023 to and including 30 June 2023, call for subscription of a new share in the Company at a subscription price corresponding to 120 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 until 13 April 2020.

Besides Warrant Program 2021/2024:2, the board of directors proposes that the annual general meeting of 27 April 2021 resolves to implement Warrant Program 2021/2024:1 (see item 11).

If (i) all outstanding warrants issued in connection to ongoing incentive programs, excluding the warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2021/2024:2 and Warrant Program 2021/2024:1 in accordance with the proposals, and (iii) all warrants that can be issued in or in connection to ongoing incentive programs, Warrant Program 2021/2024:2 and Warrant Program 2021/2024:1 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 982,000, which corresponds to a total dilution of approximately 4.04 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal

The proposal for resolution on the implementation of Warrant Program 2021/2024:2 and the proposals of resolutions according to item 12.A and 12.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2021/2024:2, has not participated in the preparation of the proposal.

Majority requirements

The resolution of the annual general meeting in accordance with the board of director's proposals under items 12.A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Item 11 – Proposal for a decision regarding authorisation of the board of directors to issue new shares

The board of directors proposes that the meeting authorises the board of directors until the next annual general meeting to, on one or more occasions, resolve to increase the Company's share capital by issue of no more than shares corresponding to twenty-five (25) per cent of the total number of shares in the Company at the time of the meeting's decision of authorisation.

However, such issues may not cause the share capital in the Company to exceed the Company's highest allowed share capital according to the articles of association. The board of directors may deviate from the shareholders' preferential rights. The reason for the board of directors' authorisation to deviate from the shareholders' preferential rights is to enable the Company to raise new capital and to take advantage of future opportunities to attract new long-term owners, and to finance the Company's growth strategy. The authorisation also includes the right to decide on payment for the issued shares by set-off, in kind or with other conditions as referred in chapter 13 section 5 item 6 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). At a deviation from the shareholders' preferential rights, the issue rate shall be determined in accordance with market conditions.

For a valid resolution on the proposal in this item 11, the proposal has to be supported by shareholders representing at least two-thirds (2/3) of the votes cast as well as shares represented at the meeting.

Item 14 – Proposal to amend the articles of association

The board of directors of Acconeer AB (publ) proposes that the articles of association is supplemented with terms that make it possible for the board of directors to collect power of attorneys in accordance with the procedure specified in chapter 7 section 4 second paragraph of the Swedish Companies Act (2005:551), and that the board of directors may decide that the shareholders shall be able to exercise their voting right by post before the general meeting in accordance with the procedure specified in chapter 7 section 4 a of the Swedish Companies Act. The purpose of the proposal is to give the board of directors increased flexibility in the conduct of general meetings, even after the Act (2020:198) on Temporary Exemptions to Facilitate the Conduct of General Meetings has ceased to apply. Furthermore, the board of directors proposes that the registered office, due to moving to new premises in Malmö, is amended to the Municipality of Malmö. Finally, a number of amendments due to legislative changes, as well as certain editorial amendments, are proposed. Due to the insertion of two new sections (§ 9 and § 10), it is proposed to renumber the sections, whereby the previous § 9 becomes § 11.

For a valid resolution on the proposal in this item 14, the proposal has to be supported by shareholders representing at least two-thirds (2/3) of the votes cast as well as shares represented at the meeting.

Current wording

Proposed wording

§ 1. Name

The name of the Company is Acconer AB. The Company is public (publ).

§ 1. Business name

The business name of the Company is Acconeer AB (publ). The Company is public (publ).

§ 2. Registered office

The board of directors shall have its registered office in the Municipality of Lund.

§ 2. Registered office

The board of directors shall have its registered office in the Municipality of Malmö.

§ 8. Notice convening general meetings

Notices convening a General Meeting shall be published in "Post- och Inrikes Tidningar" and on the website of the company. The fact that notice has been given shall be published in "Dagens Industri".

Shareholders wishing to attend a General Meeting shall notify the Company no later than on the day specified in the notice convening the meeting, stating the number of assistants. This day must not be a Sunday, other public holiday, Saturday, Midsummer Eve, Christmas Eve or New Year's Eve, and may not be earlier than the fifth weekday before the general meeting.

§ 8. Notice of general meetings, etc.

Notices of a general meetings shall be made through announcement in "Post- och Inrikes Tidningar" and on the website of the company. The fact that notice has been issued shall be announced in "Dagens Industri".

Shareholders wishing to attend a general meeting shall notify the Company of the intention to attend no later than on the day stipulated in the notice of the general meeting, stating the number of assistants. This day must not be a Sunday, other public holiday, Saturday, Midsummer's Eve, Christmas Eve or New Year's Eve, and may not be earlier than the fifth weekday prior to the general meeting.

A shareholder may be accompanied by assistants at a general meeting only where the shareholder has given the company notice of the number of assistants (not more than two) as specified in the previous paragraph.

§ 9 Collecting of powers of attorneys and vote by post

The board of directors may collect powers of attorney in accordance with the procedure described in chapter 7 section 4 second paragraph of the Companies Act (2005:551).

The board of directors has the right before a general meeting to decide that shareholders shall be able to exercise their right to vote by post before the general meeting.

§ 10 The right for persons not being shareholders to attend a general meeting

The board of directors may resolve that persons not being shareholders of the company shall be entitled, on the conditions stipulated by the board of directors, to attend or in any other manner follow the discussions at a general meeting.

§ 11. CSD Clause

The Company's shares shall be registered in a CSD (Central Securities Depositary) register under the Financial Instruments Accounts Act (1998:1479).

§ 13. CSD Clause

The Company's shares shall be registered in a CSD (central securities depositary) (CSD) register in accordance with the Central Securities Depositories and Financial Instruments Accounts Act (1998:1479).

Available documents

The complete proposals and other documents that shall be made available prior to the annual general meeting pursuant to the Swedish Companies Act will be made available at the Company and at the Company's website, www.acconeer.com, no later than three weeks prior to the annual general meeting. The documents will also be sent free of charge to shareholders who so request and provide their address to the company.

Information at the annual general meeting

The board of directors and CEO shall, if any shareholder so requests and the board of directors believes that it can be done without material harm to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that can affect the assessment of the Company's or its subsidiaries' financial situation and the Company's relation to other companies within the group.

Request for such information shall be made in writing to the Company no later than ten (10) days prior to the annual general meeting, i.e. no later than 17 April 2021, to the address Acconeer AB (publ), Scheelevägen 27, 223 70 Lund (mark the envelope "Disclosure Annual General Meeting 2021") or by email to info@acconeer.com. Such a request should include the name of the shareholder including such shareholder's personal or organisation number. It is also recommended that the submission includes the shareholder's postal address, email address and telephone number. The information will be available on the Company's website www.acconeer.com and at the Company's head office at Scheelevägen 27 in Lund no later than 22 April 2021. The information will also be sent, within the same period of time, to the shareholder who has requested it and stated its address.

Shares and votes in the Company

The total number of shares and votes in the Company amount to 23,300,500. The Company does not hold any own shares.

Processing of personal data

For information on how your personal data is processed, the Company refers to the integrity policy available on Euroclear Sweden AB's website https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

____________

Lund in March 2021
Acconeer AB (publ)
The board of directors

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

For further information, please contact:

Lars Lindell, CEO

Tel. +46 (0) 10 218 92 00

ir@acconeer.com

www.acconeer.com

The following documents can be retrieved from beQuoted
Notice-of-Annual-General-Meeting-2021-in-Acconeer-AB-publ.pdf

Acconeer AB in brief

With groundbreaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA) and can be contacted via telephone +46(0)8 121 576 90 or via e-mail certifiedadviser@redey.se

Notice of Annual General Meeting 2020 in Acconeer AB (publ)

By

The shareholders of Acconeer AB (publ) (the "Company") are hereby invited to the Annual General Meeting on Tuesday 14 April 2020 at 5:30 p.m. CEST in Ideon Gateway (second floor) Scheelevägen 27, 223 63 Lund. Registration for the Annual General Meeting begins at 4:30 p.m. CEST.

The right to participate in the Annual General Meeting have shareholders that:

are recorded in the company's register of shareholders in their own name (not trustee-registered) maintained by Euroclear Sweden AB on Monday 6 April 2020,

have notified the Company of its intention to participate in the Annual General Meeting by Monday 6 April 2020, by post to Acconeer AB (publ), Scheelevägen 27, 223 63 Lund, by phone +46 (0) 10 218 92 00 on weekdays 09.00-17.00 CEST (to either Jenny Olsson or Henrik Ljung) or by e-mail to info@acconeer.com. For the registration of proxies (two maximum) the same time and address etc. applies.

The notice must state the name, civil identity number or corporate registration number, address, telephone number (daytime), number of shares and, if applicable, representatives and/or proxies names. Shareholders whose shares are registered in the name of a trustee, must register the shares in their own name with Euroclear Sweden AB in order to participate in the meeting. Such registration must be in effect by Monday 6 April 2020. Interested shareholders should notify their trustees well in advance of this date. Such registration may be temporary.

A proxy form is available with the Company and on the Company's website, www.acconeer.com.

Proposed agenda

  1. Opening of the meeting
  2. Election of Chairman of the meeting
  3. Preparation and approval of the voting list
  4. Election of one or two persons to approve the minutes
  5. Determination as to whether the meeting has been duly convened
  6. Approval of agenda
  7. Address by the CEO
  8. Presentation of the annual report and the audit report
  9. Decisions on the following:
    (a) Determination of income statement and balance sheet
    (b) Disposals regarding the Company's profit or loss according to the established balance sheet
    (c) Discharge from liability of the Board of Directors and the CEO
  10. Determination of fees payable to the Board of Directors and the auditors
  11. Election of the Board of Directors and the auditor
  12. Resolution on the issue of warrants and the approval of the subsidiary's transfer pursuant to Chapter 16, Section 4, second paragraph, of the Companies Act
  13. Authorisation of the board of directors to issue new shares
  14. Closing of the meeting

Item 2 – Proposal for election of the chairman of the meeting

The Board of Directors have suggested that attorney at law Henric Stråth, Moll Wendén Law Firm, be elected chairman of the meeting.

Item 9b – Proposals for the Company's profit or loss

The Board of Directors has proposed that no dividend be paid for the financial year 2019 and that the Company's unappropriated funds of SEK 94,750,605, including the loss of the year of SEK -68,539,494, will be carried forward.

Item 10 – Proposal for remuneration to the Board and the auditors

A group of shareholders have proposed that the remuneration to the Board of Directors be paid out with a total of twelve (12) price base amounts, of which four (4) price base amounts to the chairman and two (2) price base amounts each to other members elected by the Annual General Meeting who are not employed by the Company.

The Board of Directors has proposed that remuneration to the auditor be paid in accordance with approved invoice.

Item 11 – Proposal for election of the Board of Directors and auditor

A group of shareholders have proposed that the number of Board members be five (5), that the number of auditors should be one (1) and that no deputy auditors should be appointed.

A group of shareholders have proposed that the Board of Directors shall consist of the following members: Bengt Adolfsson (re-election), Lars-Erik Wenersson (re-election), Git Sturesjö Adolfsson (re-election), Thomas Rex (re-election) and Johan Paulsson (re-election). It is proposed that Thomas Rex is elected chairman of the Board.

Information regarding the proposed members of the Board of Directors is available on the Company's website, investor.acconeer.com.

Furthermore, the re-election of the registered audit company Öhrlings PricewaterhouseCoopers AB has been proposed for a term of one year. Öhrlings PricewaterhouseCoopers AB has announced that, in the event that the audit company is elected, Ola Bjärehäll will continue as the chief auditor.

Item 12 – Proposal for a decision on the issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16, Section 4, second paragraph, of the Companies Act

The Board has proposed that the Annual General Meeting resolves on an incentive program for individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO ("Employees") in accordance with the conditions set out below ("Warrant Program 2020/2023").

For the implementation of the Warrant Program 2020/2023, the Board has proposed that the Annual General Meeting resolve to (A) issue warrants series 2020/2023 with deviation from shareholders' preferential rights and (B) approve the transfer of warrants to Employees under the following conditions. Items A-B constitutes a single proposal and shall be handled by the Annual General Meeting through a joint decision.

A. Issue of warrants

  1. No more than 300,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Company's wholly-owned subsidiary Acconeer Incentive AB (the "Subsidiary") with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with paragraph B below.
  3. The Subsidiary shall pay a cash consideration for the respective warrants corresponding to the market value of the warrants at the time of allotment, which shall be determined by an independent valuation institute immediately following the Annual General Meeting using the Black & Scholes valuation model.
  4. Subscription of warrants shall be made on a special subscription list no later than 20 April 2020. The Board of Directors is entitled to extend the subscription period.
  5. Payment for the subscribed warrants shall be made in cash by 5 May 2020. The Board of Directors is entitled to postpone the payment date.
  6. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  7. Subscription of shares under the warrants may take place during the period from 1 May 2023 until 30 June 2023.
  8. The subscription price per share shall correspond to 120 percent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 through 13 April 2020, however the subscription price per share shall never be less than the quotient value.
  9. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  10. Applicable translation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2020/2023 for new subscription of shares in Acconeer AB (publ)".
  11. The Board of Directors, or the one the Board of Directors appoints, is authorised to make minor adjustments to the Annual General Meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office and Euroclear Sweden AB.

The reasons for the deviation from the shareholders' preferential rights are that the Board of Directors believes that a warrant program that allows employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

B. Transfer of warrants to Employees

Warrant Program 2020/2023 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 20 April 2020 and on 2 November 2020 to the Employees in accordance with the guidelines set out in section B.3.
  2. Transfer according to item B.1 shall be made at market value at the respective transfer dates, which shall be determined by an independent valuation institute using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
    • Every Employee on each transfer date shall be given the opportunity to acquire warrants to an amount equivalent to no more than one tenth (1/10) of the Employee's annual income prior to income tax.
    • No more than 150,000 warrants in total may be allotted at each occasion.
  4. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with the numbers subscribed for. In the alternative, allotment shall be made by the drawing of lots exercised by the Company.
  5. Transfer of warrants may not take place after the Annual General Meeting 2021, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration office for duly registration. The right to transfer warrants in Warrant Program 2020/2023 assumes that the Employee holds his position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated.
  6. Allotment requires that both the acquisition of warrants legally can be made, and that the acquisition of warrants can be made under reasonable administrative and economical efforts.

Costs, dilution and impact on key ratios

As the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise in case the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2020/2023 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Assuming that all 300,000 warrants in Warrant Program 2020/2023 are exercised for subscription of new shares, the Company's share capital will increase by no more than SEK 15,000, resulting in a maximum dilution effect of approximately 1.54 percent. The key figure earnings per share for the full year 2019 had changed in such a way that the loss per share had decreased by approximately SEK 0.06 from about SEK 3.58 to about SEK 3.52. In addition, existing warrant programs includes 853,000 new shares in the Company, corresponding to a dilution effect of approximately 4.25 percent. Overall, existing warrants and Warrant Program 2020/2023 can result in a maximum dilution effect of approximately 5.65 percent.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal

The Board of Directors' proposal has been prepared by the Board of Directors together with external advisors. Board members will not be allotted.

Majority requirements

The resolution of the Annual General Meeting in accordance with the Board's proposals under items A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution be supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the Annual General Meeting.

Item 13 – Proposal for a decision regarding authorisation of the board of directors to issue new shares

The Board of Directors proposes that the meeting authorises the Board of Directors until the next Annual General Meeting to, on one or more occasions, resolve to increase the Company's share capital by issue of no more than shares corresponding to twenty-five (25) percent of the total number of shares in the Company at the time of the meeting's decision of authorisation.

However, such issues may not cause the share capital in the Company to exceed the Company's highest allowed share capital according to the articles of association. The Board of Directors may deviate from the shareholders' preferential rights. The reason for the Board of Directors' authorisation to deviate from the shareholders' preferential rights is to enable the Company's possibilities to raise new capital and to take advantage of future opportunities to attract new long-term owners and to finance the Company's growth strategy. The authorisation also includes the right to decide on payment for the issued shares by set-off, in kind or with other conditions as referred in Chap. 13 Sec. 5 item 6 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). At a deviation from the shareholders' preferential rights, the issue rate shall be determined in accordance with market conditions.

For a valid resolution on the proposal in this item 13, the proposal have to be supported by shareholders representing at least two-thirds (2/3) of the votes cast as well as shares represented at the meeting.

Available documents

Accounting documents, auditor's report and the Board of Directors' complete proposal for a decision under item 12 will be available with the Company and on the Company's website, www.acconeer.com, no later than 24 March 2020, and will be sent to the shareholders who request it and state their postal address. Copies will also be available at the Annual General Meeting.

Information at the Annual General Meeting

At the Annual General Meeting, the Board of Directors and the CEO shall, if any shareholder requests it and the Board of Directors believes that it can be done without material harm to the Company, provide information on circumstances that may affect the assessment of matters on the agenda as well as conditions that may affect the assessment of the Company's financial situation.

The number of shares and votes in the Company

The total number of shares in the Company amounts to 19,238,500. The company only has one class of shares and the total number of votes in the Company amounts to 19,238,500.

Processing of personal data

For information on how your personal information is handled, the Company refers to the integrity policy available on Euroclear's website https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

Lund in March 2020
Acconeer AB (publ)
Board of Directors

For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, Mail: ir@acconeer.com

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

The following documents can be retrieved from beQuoted
Notice-of-Annual-General-Meeting-2020-in-Acconeer-AB-publ.pdf

About Acconeer AB

Acconeer is a leading radar sensor company based in Lund, south Sweden, in Ideon, the country's hottest region for wireless technologies. Acconeer is developing a truly leading ultra-low power, high precision 3D sensor which will revolutionize the way that mobile devices interpret their surroundings. Acconeers ultra-low power and millimeter precision sensor will be a robust and cost-effective solution for applications ranging from virtual reality and gaming to security and robot control. Information from the sensor can also be used to identify different materials, these are just some examples of the wide range of possibilities of application areas for the sensor. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA) and can be reached via telephone +46 (0)8 121 576 90 or via mail certifiedadviser@redeye.se. For more information: www.acconeer.com