Certified Advisor at First North

First North is an alternative marketplace run by the various stock exchanges in Nasdaq. It does not have the same legal status as a regulated market. Companies on First North are regulated by First North's rules and not by the legal requirements set for trading on a regulated market. An investment in a company trading on First North generally involves more risk than an investment in a company on a regulated market.

All companies whose shares are traded on First North have a certified advisor who monitors that the Company is complying with First North's regulations regarding the provision of information to the market and investors. FNCA Sweden AB, which is a member of and has an agreement with Nasdaq Stockholm AB, is the certified advisor for Klaria.

A certified advisor reviews companies whose shares are to be admitted for trading on First North. Nasdaq Stockholm AB approves applications regarding admission for such trading. Nasdaq Stockholm AB's surveillance function is respons­ible for checking that both companies and certified advisors comply with First North's regulations. Surveillance also monitors ­trading on First North.