Code of Conduct

Compliance with laws and the Code of Conduct

In all its operations, Ruukki complies with the laws and regulations in force, good practices and with the Code of Conduct, published in 2005 and renewed in 2011. The purpose of the Code of Conduct adopted by Rautaruukki’s Board of Directors is to highlight the company’s ethical values and to create for the personnel a consistent way to act responsibly around the world. Each Ruukki employee is required to be familiar with the legislation and policies applying to his or her own area of responsibility and, without exception, to comply with them.

Each of the company’s business areas (divisions) is responsible for ensuring compliance with the Code of Conduct and laws and regulations in force. Business area management is responsible for the internal control of operations to ensure that all employees in the business area are familiar with the laws, regulations and principles applying to their own work and that they comply with them. In conjunction with internal audits, the company seeks to ensure that control has been properly organised and works effectively. Internal audits are carried out by all corporate functions in addition to the internal audit unit.

Generally accepted ethical principles and compliance with laws are the basis of good business practice. Ethical and legal issues concerning the company’s operations as well as human rights, employment and environmental issues are to be recognized and handled according to these principles.

Responsible operations support the company’s success and competitiveness. Therefore the company requires that its business partners, suppliers and sub-contractors comply with this Code of Conduct.

Policies

Corporate policies applying to different areas of the business reinforce the commitment to achieving corporate financial and other targets and minimising business risks within the company. Some of these policies are in the public domain and can be found on the company’s website. Personnel have access to the policies on the company’s intranet pages.

The Code of Conduct is made known to the personnel during induction training for new employees and through continuous training and internal communication. The employment contracts of new employees include a condition about compliance with the Code of Conduct. In addition, employees taking part in training held in different countries sign to confirm that they have studied the Code of Conduct and that they undertake to comply with it.

Reporting misconduct

One of the aims of internal control is to prevent misconduct. Ruukki has instructions about how to report any misconduct. Employees are encouraged to report suspected misconduct either to their own supervisor, to other management or directly to the internal audit unit or legal department. Reports can also be sent through post or email (compliance@ruukki.com).

Each and every Ruukki employee is responsible for reporting any misconduct or procedure contrary to the Code of Conduct. Suspected misconduct is investigated immediately and confidentially. Proven misconduct is reported to the Board of Directors’ Audit Committee.