N O TE 48 Share s in sub sidiarie s 1 Subsidiar y name Corpor ate identit y no Domicile Number of shares o f share capit al v o ting right s Book v alue M SEK Alert Ser vices h oldin g N v 2 RPR617707 Brussels 3 311 669 5301 5764 Grupo Securit as m e xico S A de C v 3 GS m 930817 u 48 M onterre y 5 000 9998 145 Protect d o o 4 66578003980 Rijek a 85 443 Protect as S A C h 55000843853 L ausanne 25 000 100 328 Seccredo h oldin g AB 4 5567341283 Stockholm 510 51 418 Securit as Alert Ser vices Polsk a Sp z o o K RS 0000289244 W a rs aw 2 000 100 100 Securit as Ar g entina S A 5 1587929 Buenos Aires 282 400 20 135 Securit as Asia h oldin g AB 5566918800 Stockholm 100 000 100 1970 Securit as B h d o o 125315 S a raj e vo 100 868 Securit as Canada L td 0365806 m ontreal 4 004 100 856 Securit as CR s r o CZ43872026 Pr a gue 100 100 1765 Securit as Deutschland f inanz h oldin g Gmb h h RB 33348 Dusseldor f 100 2 5723 Securit as Ees ti AS 10188743 T allinn 1 371 100 321 Securit as Egypt LL C 175560 Cairo 4 000 80 29 Securit as Group R einsur ance L td 317030 Dublin 50 000 000 100 5765 Securit as h oldin g s Inc 954754543 Par sippan y 100 100 2 2080 Securit as In v es t AB 5566303995 Stockholm 1 000 100 71 Securit as K F T Cg0109721946 Budapes t 100 116 Securit as m iddle Eas t and Africa h oldin g AB 5567714406 Stockholm 100 000 100 948 Securit as m ontene gro d o o 4 02387620 Niksic 75 08 Securit as N v 6 0427388334 Brussels 1 000 9990 2728 Securit as Nor dic h oldin g AB 5562483627 Stockholm 1 000 000 100 9 2695 Securit as Polsk a Sp z o o 000036743 W a rs aw 14 000 100 274 Securit as R ent al AB 5563763829 Stockholm 1 000 100 36 Securit as SA Holdin g s P t y L td 200802841107 Johannesbur g 701 70 556 Securit as Securit y Consultin g Holdin g AB 5560871468 Stockholm 1 000 100 373 Securit as Se guridad h oldin g SL B83446831 m adrid 301 100 8 0428 Securit as Ser vices d o o 17487809 Bel gr ade 100 1314 Securit as Ser vices Holdin g U K L td 5759961 London 34 000 000 100 4811 Securit as Ser vices International B v 33287487 Ams ter dam 25 000 100 1 5351 Securit as Ser vices R omania SRL J40 2222 2001 Buk ares t 21 980 100 495 Securit as Sicherheitsdiens tleis tun g en Gmb h f N148202w v ienna 100 100 762 Securit as SK sro 8 36768073 Prie vidza 465 08 Securit as T oolbo x L td 316907 B adhoe v edorp 100 100 00 Securit as T r ansport A viation Securit y AB 5566918917 Stockholm 5 100 000 100 2596 Securit as T reasur y Ireland L td 152440 Dublin 21 075 470 100 10 0410 Securit as u AE LL C 7 615702 Dubai 5 725 49 51 106 Sigurnor s t Buz o v 955232263481 Sla v onski Brod 2 100 234 Securit as Hr v atsk a d o o 4 9 33679708526 Za greb 85 533 T ot al shares in subsidiaries 37 1563 1 A complete specifcation of subsidiaries can be obt ained from the Parent Compan y 2 Throug h the holdin g s in Securit as Se guridad Holdin g SL the remainin g 4699 percent of Alert Ser vices h oldin g N v are held 3 The remainin g 002 percent of Grupo Securit as M e xico S A de CV are held b y Securit as R ent al AB 4 Securit as has an option to acquire the remainin g shares 5 The remainin g 80 percent of Securit as Ar g entina S A are held b y Securit as Se guridad Holdin g SL 6 The remainin g 01 percent of Securit as NV are held b y Securit as R ent al AB 7 Securit as AB appoints the ma jorit y of the Boar d of Director s and has a controllin g interes t throug h a shareholder s a greement 8 The remainin g 9535 percent of Securit as SK sro are held b y Securit as CR sro 9 F ormer Z v onimir d o o Ch ANGE ANAL y SIS O f S h ARE S IN S u B SIDIARIE S M SEK 2012 2011 2010 Openin g balance 37 8527 40 0268 40 0737 Acquisitions 741 730 1770 Div es titures 415 25 Capit al contributions 4 1255 4924 4 3287 Impairment losses 1 8 6023 2 7350 4 5526 R e v aluation of deferred consider ations 230 20 Dividend from subsidiaries 3 7708 Closin g balance 37 1563 37 8527 40 0268 1 Impairment losses of shares in subsidiaries in 2012 w ere recogniz ed in con junction with the Parent Compan y ha vin g receiv ed dividends from subsidiaries and for the shares in Securit as M ontene gro d o o as a consequence of the impairment losses of g oodwill and acquisition related int an g ible assets that w ere recogniz ed for the cash g ener atin g unit Securit y Ser vices M ontene gro Impairment losses of shares in subsidiaries in 2011 and 2010 w ere recogniz ed in con junction with the Parent Compan y ha vin g receiv ed dividends from subsidiaries 128 Securit as Annual R eport 2012 Annual R eport Notes and comments to the Parent Compan y fnancial s t atements