Decision by Nasdaq Stockholm’s Disciplinary Comm

The Disciplinary Committee of Nasdaq Stockholm AB has found that CybAero AB (“CybAero”) has breached the Nasdaq First North Nordic Rulebook (“the Rule Book”) in several respects and has therefore imposed a fine on CybAero of SEK 341,890, corresponding to three annual listing fees.

The Disciplinary Committee has determined that CybAero did not fulfill its disclosure obligations on a number of occasions. For example, information issued by press releases on January 17 and June 2, 2014 about two orders from Chinese customs and the Chinese company AVIC, respectively, was regarded as directly misleading since the particular risks associated with the orders were not disclosed.

As a result of the Company’s breaches, the Disciplinary Committee has also made the assessment that CybAero did not have the required organization or the required resources for information disclosure.

The Disciplinary Committee has taken a very serious view of the Company’s failings and concluded that the market ought to have been damaged as a result of these. The Disciplinary Committee thus decided that the sanction should be a fine corresponding to three annual listing fees.

A more detailed description of the matter case and the Disciplinary Committee’s decision are available at: http://www.nasdaqomx.com/listing/europe/surve...decisions/

Please see the attached documents for Swedish and English versions of the decision.

For further information about this exchange notice please contact Issuer Surveillance, telephone +46 8 405 60 00, or iss@nasdaq.com .