Axis AB: The Board of Directors of Axis has received a dividend proposal

The notice of the Meeting states the following: "In the light of the new ownership structure following the completion of the public cash offer by Canon Inc., the Board of Directors has resolved to withdraw its prior proposal. Instead, the Board of Directors proposes that no dividend is paid for the financial year 2014 and that the company's results are carried forward."

The Board of Directors has now received the following proposal for the Annual General Meeting.

PROPOSAL FOR RESOLUTION ON DIVIDEND IN AXIS AKTIEBOLAG (PUBL)
Elliot International, L.P. and Liverpool Limited Partnership (collectively "Elliot"), shareholders in Axis Aktiebolag (publ) ("Axis") with 2,411,506 and 4,681,158 shares respectively, hereby propose that the profits at the disposal of the annual general meeting of shareholders in Axis 2015 shall be appropriated as follows:

that a dividend of SEK 6.00 per share shall be paid to shareholders       SEK 416,767,500
to be carried forward                                                                            SEK 5,937,306
Total                                                                                                   SEK 422,704,806

The proposed dividend corresponds to the dividend distribution proposed by the Board of Directors of Axis in the financial report for the period ending 31 December 2014, and reiterated again in the report for the period ending 31 March 2015. The Board of Directors deemed the earlier proposed dividend appropriate considering that it stated that it "anticipates a continued positive trend [for Axis] during the 2015 fiscal year." In addition, the Board of Directors stated that it is their view "that the proposed dividend will not prevent the company from fulfilling its obligations over the short or long term or from making necessary investments." Elliot has no reason to believe that these assumptions would have changed as per the date of this proposal.

Wednesday 17 June 2015, is proposed as record date for the dividend.

The proposal of the Board of Directors set forth above remains unchanged. Canon Inc., holding approximately 85 percent of the shares of Axis, has stated that Canon will vote against Elliot's proposal. However, due to Elliot's proposal the Board of Directors is obliged to make a reasoned statement:

"The Board of Directors anticipates a continued positive trend during the 2015 fiscal year. The view of the Board of Directors is that the dividend proposed by Elliot will not prevent the company from fulfilling its obligations over the short or long term or from making necessary investments."