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 53.01 576.4 Grupo Securit as m e xico S A de C v 3 GS m 930817 u 48 M onterre y 5 000 99.98 14.5 Protect d. o . o . 4 66578003980 Rijek a – 85 44.3 Protect as S . A . C h –550–0084385–3 L ausanne 25 000 100 32.8 Seccredo h oldin g AB 4 556734–1283 Stockholm 510 51 41.8 Securit as Alert Ser vices Polsk a Sp .z o . o . K RS 0000289244 W a rs aw 2 000 100 10.0 Securit as Ar g entina S . A . 5 1587929 Buenos Aires 282 400 20 13.5 Securit as Asia h oldin g AB 556691–8800 Stockholm 100 000 100 197.0 Securit as B h d. o . o . 1–25315 S a raj e vo – 100 86.8 Securit as Canada L td 036580–6 m ontreal 4 004 100 85.6 Securit as CR s r o CZ43872026 Pr a gue 100 100 176.5 Securit as Deutschland f inanz h oldin g Gmb h h RB 33348 Dusseldor f – 100 2 572.3 Securit as Ees ti AS 10188743 T allinn 1 371 100 32.1 Securit as Egypt LL C 175560 Cairo 4 000 80 2.9 Securit as Group R einsur ance L td 317030 Dublin 50 000 000 100 576.5 Securit as h oldin g s Inc . 95–4754543 Par sippan y 100 100 2 208.0 Securit as In v es t AB 556630–3995 Stockholm 1 000 100 7.1 Securit as K F T Cg.01–09–721946 Budapes t – 100 11.6 Securit as m iddle Eas t and Africa h oldin g AB 556771–4406 Stockholm 100 000 100 94.8 Securit as m ontene gro d. o . o . 4 02387620 Niksic – 75 0.8 Securit as N v 6 0427.388.334 Brussels 1 000 99.90 272.8 Securit as Nor dic h oldin g AB 556248–3627 Stockholm 1 000 000 100 9 269.5 Securit as Polsk a Sp . z o . o . 000036743 W a rs aw 14 000 100 27.4 Securit as R ent al AB 556376–3829 Stockholm 1 000 100 3.6 Securit as SA Holdin g s P t y L td 2008–028411–07 Johannesbur g 701 70 55.6 Securit as Securit y Consultin g Holdin g AB 556087–1468 Stockholm 1 000 100 37.3 Securit as Se guridad h oldin g SL B83446831 m adrid 301 100 8 042.8 Securit as Ser vices d. o . o . 17487809 Bel gr ade – 100 131.4 Securit as Ser vices Holdin g U .K. L td 5759961 London 34 000 000 100 481.1 Securit as Ser vices International B v 33287487 Ams ter dam 25 000 100 1 535.1 Securit as Ser vices R omania SRL J40 / 2222 / 2001 Buk ares t 21 980 100 49.5 Securit as Sicherheitsdiens tleis tun g en Gmb h f N148202w v ienna 100 100 76.2 Securit as SK sro 8 36768073 Prie vidza – 4.65 0.8 Securit as T oolbo x L td 316907 B adhoe v edorp 100 100 0.0 Securit as T r ansport A viation Securit y AB 556691–8917 Stockholm 5  100   000 100 259.6 Securit as T reasur y Ireland L td 152440 Dublin 21 075 470 100 10 041.0 Securit as u AE LL C 7 615702 Dubai 5 725 49 / 51 10.6 Sigurnor s t Buz o v 955232263481 Sla v onski Brod 2 100 23.4 Securit as Hr v atsk a d. o . o 4, 9 33679708526 Za greb – 85 53.3 T ot al shares in subsidiaries 37 156.3 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 46.99 percent of Alert Ser vices h oldin g N v are held. 3 The remainin g 0.02 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 0.1 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 95.35 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   852.7 40 026.8 40 073.7 Acquisitions 74.1 73.0 177.0 Div es titures -41.5 -2.5 – Capit al contributions 4  125.5 492.4 4 328.7 Impairment losses 1 -8  602.3 -2 735.0 -4 552.6 R e v aluation of deferred consider ations -23.0 -2.0 – Dividend from subsidiaries 3   770.8 – – Closin g balance 37  156.3 37 852.7 40 026.8 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