Corporate Governance

Rautaruukki Corporation is a Finnish limited company and the responsibilities of its governing bodies are provided by the law of Finland, the company’s Articles of Association and the principles of corporate governance determined by the company’s Board of Directors Rautaruukki has published a Corporate Governance Statement in accordance with Recommendation 54 of the Finnish Corporate Governance Code 2010 and with Chapter 2, Section 6 of the Securities Markets Act.

Corporate governance and decision-making at Rautaruukki are in compliance with the Finnish Limited Liability Companies Act, other similar legislation, other regulations applying to listed companies, the company’s Articles of Association and rules and regulations applying to listed companies issued by NASDAQ OMX Helsinki Ltd. (Helsinki Exchange) and the Financial Supervisory Authority (FINFSA).

Rautaruukki complies with the Finnish Corporate Governance Code 2010 published by the Securities Market Association, with the exception that the Nomination Committee does not comprise exclusively of members of the company’s Board of Directors. The 2009 Annual General Meeting decided to appoint a Nomination Committee to prepare nominations for appointments to the Board of Directors.

An unofficial English translation of the Finnish Corporate Governance Code 2010 may be viewed on the Securities Market Association website at www.cgfinland.fi.