Shareholder	Number of shares*	Propotion of capital, %	Propotion of votes,%
Backahill AB	52,108,718	15.75	16.56
John Fredriksen	37,757,551	11.42	12.00
Nordea Funds	13,625,496	4.12	4.33
Länsförsäkringar Funds	12,748,388	3.85	4.05
Vanguard	10,347,668	3.13	3.29
BlackRock	9,742,504	2.95	3.10
Handelsbanken Funds	8,050,086	2.43	2.56
Third Swedish National Pension Fund	7,875,429	2.38	2.50
E.N.A City Aktiebolag	7,144,796	2.16	2.27
Folksam	6,949,420	2.10	2.21
Norges Bank	6,466,230	1.95	2.06
APG Asset Management	5,292,663	1.60	1.68
AFA Insurance	5,250,753	1.59	1.67
BNP Paribas Asset Management	3,982,474	1.20	1.27
Cardano Asset Management	3,003,692	0.91	0.95
Total 15 largest shareholders	190,345,868	57.54	60.51
Total no. of shares outstanding	314,577,096	95.10	100
Treasury shares	16,206,048	4.90	-
Total no. of registered shares	330,783,144	100	100

*Per 31 December 2023. The verification date may vary for foreign shareholders. 

Source: Holdings by Modular Finance AB. Data compiled and processed from various sources, including, Euroclear, Morningstar, Swedish Financial Supervisory Authority.

Largest increases last 3 month**

Shareholder	Increase no. of shares	Total no.of shares	Total share of  equity
Handelsbanken funds	+587,807	10,298,364	3.11
BNP Paribas Asset Management	+510,875	3,931,181	1.19
AFA Insurance	+381,600	5,325,338	1,61
Norron funds	+278,874	1,212,525	0.37
Ruth Asset Management	+260,676	260,676	0.08

Largest decrease last 3 month**

Shareholder	Decrease no. of shares	Total no. of shares	Total share of equity
Avanza Pension	-1,050,894	832,175	0.25
BlackRock	-382,943	10,264,376	3.10
Öhman funds	-300,769	1,859,652	0.56
Uppsala Universitets Stiftelseförvaltning	-284,241	54,759	0.02
InsingerGilissen Asset Management	-221,300	16,700	0.01

** 31/07/23  to 30/09/23.

Compiled and processed data by Monitor. Sources: Euroclear, Morningstar, Swedish Financial Supervisory Authority, Nasdaq and Millistream.