Conditions of sale at beverage auctions These conditions apply as of

Conditions of sale at beverage auctions These conditions apply as of 2017-01-01 1. ALLMÄNT 1.1 Systembolaget AB, org. no. 556059-9473, Kungsträdgårdsgatan 14, 103 84 Stockholm ( Systembolaget ) has commissioned Bukowskis Auktioner AB, org. no. 556434-1369, Box 1754, 111 87 Stockholm ( Bukowskis ) to hold auctions of alcoholic beverages which are valuable collectibles in accordance with the Alcohol Act (2010:1622) and the agreement between Systembolaget and the State of Sweden. The definition of a valuable collectible is a wine, fortified wine, a spirituous beverage or beer which meets one or more of the following criteria: - The beverage is continuously sold at international beverage auctions. - The beverage has a broad documented demand on the Swedish auction market. - The beverage s price level is, for its origin and product type, high and is available in a limited amount due do, for example, age or limited edition. 1.2 In order to sell alcoholic beverages at beverage auction the seller, or a representative according to section 2.2 below, is required to be at least 20 years old and to bring a valuation statement issued by Systembolaget. If these requirements are met, Bukowskis undertakes as an agent on behalf of the seller under the following conditions to sell alcoholic beverages submitted by the seller at auctions. Bukowskis has the right to sell submitted alcoholic beverages at the auction that Bukowskis expects to give the best results or otherwise considers most appropriate. Bukowskis has the right to move, close or change the length of an auction due to technical reasons or other circumstances within or beyond Bukowskis control. 1.3 When applying for a valuation of alcoholic beverages at Systembolaget, or later in connection with Bukowskis acceptance of a sales assignment, and when creating a user account on Bukowskis website, Systembolaget requests in the first case and Bukowskis requests in the last two cases that certain personal data is provided such as name and contact information. 1.4 Both Systembolaget and Bukowskis wishes to evaluate completed beverage auctions in order to improve the provided service. Evaluation will be done primarily through questions directed both to the buyer and the seller in customer surveys or similar. By providing information, the seller approves that Systembolaget and Bukowskis may contact the seller in order to inform about and/or forward surveys for evaluation purposes. 1.5 The seller agrees that all personal data which the seller provides to Systembolaget and Bukowskis are dealt with in accordance with applicable personal data legislation, with the purpose to fulfill the agreement to sell alcoholic beverages in accordance with this agreement and to complete customer surveys in accordance with section 1.4 above. 1.6 Systembolaget is the controller for personal data that is left in order to sell alcoholic beverages by Bukowskis and personal data which are provided in connection with Systembolaget s customer surveys. Bukowskis is the controller for personal data that are left in connection with registration and the use of a user account and other connected services (for example news letter) at Bukowskis website, for personal data provided in connection with Bukowskis customer surveys and for personal data used for more than the single purpose to complete a alcoholic beverage auction. Systembolaget and Bukowskis will save the seller s personal data for two years after the seller s account was last active and thereafter delete them. Bukowskis will, however, save information of the seller for archival purposes in accordance with what is required according to law and other regulations. The seller can receive information about the processed personal data if the seller delivers a written and by the seller signed application to the respective controller for personal data. The buyer is entitled to revoke its consent regarding the process and request to have its data corrected or deleted. If the seller believes that the process of its personal data violates with applicable personal data legislation, the seller is entitled to submit a complaint to the competent regulatory authority; The Swedish Data Protection Authority, Drottninggatan 29, 111 51 Stockholm. The data protection officer of Systembolaget is Anna Wessberg, c/o Systembolaget Aktiebolag, 103 84 Stockholm. Please contact Bukowskis for more information about Bukowskis contact person regarding personal data. Conditions of sale at beverage auctions 170101 Page 1/5

2. SUBMISSION/ACCEPTANCE OF ALCOHOLIC BEVERAGES 2.1 The seller is responsible for ensuring that the seller has full and unrestricted rights to alcoholic beverages submitted to Bukowskis for sale or, if the alcoholic beverage is owned by a third party, that the seller has full and unrestricted rights to sell and collect payment for the alcoholic beverage. 2.2 If the seller does not own the alcoholic beverage that is submitted for sale, the seller must provide a document proving his/hers right to sell it. However, Bukowskis is not required to, without any particular reason, verify the seller s authority to sell the alcoholic beverage. 2.3 As soon as Bukowskis has decided to undertake the assignment to sell the alcoholic beverage, a written sales agreement shall be drawn up between Bukowskis and the seller, a so-called advice of receipt of acceptance/contract. 2.4 In case of doubt regarding the quality, the authenticity of the alcoholic beverage, the right of ownership to the alcoholic beverage or other circumstances that Bukowskis considers to be significant, Bukowskis reserves the right to unilaterally and without right to compensation to the seller withdraw from the sales assignment of certain alcoholic beverage. 2.5 Together with the above mentioned valuation statement, alcoholic beverages can be submitted during the whole year to Bukowskis in Stockholm and to Bukowskis branches in the country. 2.6 Withdrawal from the sales assignment shall be submitted in writing by the seller. Without the consent from Bukowskis, the seller is not in any case entitled to withdraw from the sales assignment later than ten (10) working days before the first day of the auction. 2.7 If the seller withdraws from the sales assignment, the seller shall compensate Bukowskis for the costs of handling management and valuation of the alcoholic beverage etc. by an amount equivalent to the sales charges according to section 4.1. If the sales assignment is withdrawn, the seller shall collect the alcoholic beverage within six (6) calendar days after the withdrawal. 2.8 All transportation of alcoholic beverages to and from Bukowskis is made at the seller s expense and on the seller s risk. 3. VALUATION AND CATALOUGIN 3.1 After application on a specific form provided by Systembolaget, Systembolaget carries out a market valuation of the alcoholic beverage. The valuation and the latter based estimate only serve as guidance. Therefore, the price to which the alcoholic beverage is sold can significantly differ from the estimate. 3.2 Bukowskis has full and unrestricted right to decide how the alcoholic beverage shall be described and if the alcoholic beverage shall be reproduced in printed catalogues and online. Alcoholic beverages are sold in accordance with Bukowskis description. Bukowskis and Systembolaget reserve the right to change such a description at any time. 3.3 Bukowskis and Systembolaget are not responsible for the valuation or information about authenticity, age, origin, etc. if these prove to be incorrect, unless the false information was submitted by gross negligence by Bukowskis or Systembolaget. 3.4 All photographs and reproductions are Bukowskis and Systembolaget s property and may, without special compensation, be used for purposes not related to the sales. Conditions of sale at beverage auctions 170101 Page 2/5

4. SALES CHARGES 4.1 Upon sale, for each auction item, there is a fee based on a percentage of the estimate in the table below, a photo fee and an insurance fee according to the prevailing price list. Estimate interval SEK Fee including VAT of the estimate 0 19 999 15 % 20 000 39 999 12,5 % 40 000 79 999 10 % 80 000 119 999 7,5 % 120 000 < 5 % 5. STORAGE AND INSURANCE 5.1 Submitted alcoholic beverages are from the receipt insured by Bukowskis against damage in connection with burglary, fire, water damage and theft up to a value corresponding to the estimate minus sales charges or after a finalized auction the hammered price minus sales charges. If the estimate is given in intervals, the lower price in the interval always applies. 5.2 Bukowskis is responsible to store submitted alcoholic beverages in a secure manner. 5.3 Bukowskis is not liable for damage resulting from natural changes in living materials such as bleaching in paper and likewise or wear and tear in connection with display. 5.4 Bukowskis is not liable for damage resulting from sealing errors that can be derived to previous incorrect storage conditions. These can be leakage, sudden changes regarding sealing etc. that have incurred after the submission for storage at Bukowskis in the professional environment until the auction or delivery. 5.5 Bukowskis is not responsible to compensate the seller for any damage exceeding the compensation obtained from the insurance for submitted alcoholic beverages in accordance with section 5.1 above. 5.6 Bukowskis liability for submitted alcoholic beverages is limited to what is stated in these conditions. 6. RESERVE 6.1 The seller has the right to request that Bukowskis, on behalf of the seller, ensures that a submitted alcoholic beverage is not sold below a certain price. The reserve price shall be confirmed on receipt/contract, by email or by telephone. 6.2 The object may normally be reserved of a maximum of 80 % of the estimate. In exceptional cases, Bukowskis may approve other reserve rules. However, the reserve price may not exceed the estimate. Agreed reserve price shall be approved by Bukowskis and shall be confirmed in the sales agreement or in writing at a later date upon agreement with Bukowskis. Reserves during the auction are handled by Bukowskis. 6.3 If an alcoholic beverage does not reach the reserve price the alcoholic beverage will be returned to the seller. 7. ACCOUNTS 7.1 After the end of the auction, the seller receives a preliminary statement of the auction result by e-mail. If the seller has not provided a valid e-mail address, the seller is urged to contact Bukowskis for a definite answer. Information on hammer prices is available at www.bukowskis.com. 8. PAYMENT Conditions of sale at beverage auctions 170101 Page 3/5

8.1 Payment to the seller is made no later than thirty-five (35) banking days after the end of the auction provided that full payment is received from the buyer and the buyer has not complained about the purchase or used the legal right to withdrawal. If the buyer s withdrawal period not has expired at the time of the regular payment, the payment to the seller will be postponed for three (3) business days after the end of the withdrawal period. 8.2 If the buyer has used the legal right to withdrawal within the withdrawal period, the sale will be terminated and the alcoholic beverage will be put up for a new sale with unchanged sales conditions. 8.3 If the buyer does not fulfill the provisions in the Alcohol Act (2010:1622), has not paid in full at the time of payment or if the buyer has complained about the alcoholic beverage in accordance with section 8.1 the sale will be terminated. Regarding the buyer s lack of payment, Bukowskis and the seller can agree to continue to require payment from the buyer. Bukowskis has no obligation to take actions against the buyer and is not responsible to the seller for the buyer s fulfillment of the purchase. 8.4 If the seller has an overdue debt to Bukowskis, Bukowskis is entitled to set off such a debt before payment is made to the seller. 9. UNSOLD ALCOHOLIC BEVERAGES 9.1 Unsold alcoholic beverages shall be collected by the seller no later than six (6) calendar days after the end of the auction if the seller does not want it to be republished. If the alcoholic beverage is not collected within the stipulated time, Bukowskis has the right to without prior notice to the seller reissue the alcoholic beverage for bidding. 9.2 Alcoholic beverages that are not collected within the stipulated time in section 9.1 will be charged a storage fee according to applicable pricelist. 9.3 If the seller has an overdue debt to pay to Bukowskis, Bukowskis has the right to retain unsold alcohol beverages as a security for the seller s payment of such debt. 9.4 If the seller fails to pay the overdue debt to Bukowskis, or to collect unsold alcoholic beverages according to section 9.1, Bukowskis has the right to take the following actions: (i) Hand over the alcoholic beverage for storage at an optional storage/transport agency. The seller shall bear all costs related to such transport and storage. (ii) If the alcoholic beverage is not collected within one (1) month after the seller has been requested to collect it and the request has stated that the alcoholic beverage otherwise could be sold after a certain period of time, Bukowskis has the right to resell the alcoholic beverage on behalf of the seller. Bukowskis has a full and unrestricted right to determine the form of auction, estimate and if the alcoholic beverage shall be assigned a reserve price or not. Bukowskis has the right to deduct compensation for all outstanding debts that Bukowskis has against the seller from the amount received for the sold alcoholic beverage. 10. WITHDRAWAL 10.1 The sales made through Bukowskis are subject to the right to withdrawal according to the Swedish Act on Distance Contracts and Off-Premises Contracts (2005:59) (Swe: lag om distansavtal och avtal utanför affärslokaler). If the buyer uses the right to withdrawal, Bukowskis reserves the right to without prior notice to the seller republish the alcoholic beverage for bidding in accordance with the reserve and the terms in section 9 above, whereas Bukowskis will bear no economic responsibility for changes of the alcoholic beverage s final price towards the seller at a reissue. 10.2 If the buyer uses the right to withdrawal, Bukowskis also reserves the right to recover any payment made to the seller. 11. LIABITITY FOR FAULTS 11.1 If Bukowskis is held responsible towards the buyer for inaccuracies of sold alcoholic beverages and thus Conditions of sale at beverage auctions 170101 Page 4/5

liable to pay damages, Bukowskis has the right to demand corresponding compensation from the seller. The seller accepts and is informed of the conditions that Bukowskis applies towards buyers at alcoholic beverage auctions. 12. FORCE MAJEURE 12.1 Bukowskis cannot be held liable for any sanctions if Bukowskis fails to perform its duties under these conditions due to circumstances beyond the control of Bukowskis and these circumstances prevent or is making fulfillment in due time significantly more difficult. A force majeure event is inter alia acts of war, currency restrictions, shortage of transport, fire, governmental actions, changes in legislation, labor disputes, general shortage of goods, restrictions of fuel, accidents or similar circumstances. If Bukowskis fulfillment of a certain duty is delayed more than three (3) months due to a force majeure event according to this section, the seller has the right to cancel the agreement by a written notice to Bukowskis. 13. ADDITIONAL LANGUAGE VERSIONS 13.1 These conditions have been translated into other languages (at present Swedish, English and Finnish). In case of any inconsistencies between the different language versions, the Swedish version shall prevail. 14. DISPUTES 14.1 Any dispute arising out of, or in connection with, these conditions shall be settled in accordance with Swedish law and by general court with the district court of Stockholm as first instance. Conditions of sale at beverage auctions 170101 Page 5/5