Note 38. Code of Conduct

Sandvik’s Code of Conduct is based on our Core Values and confirms our strong commitment to ethical and responsible business practices and compliance with relevant laws and regulations in all markets where we operate. The Code of Conduct describes the principles of behavior that our employees should adhere to and provides guidance in our actions and everyday business decisions. The Code of Conduct is a vital component in The Sandvik Way governance model, which encompasses common steering documents and processes. The Sandvik Way also describes a common culture and ways of working.

Sandvik has set up a target to train 100 percent of employees and long-term contractors hired for more than 90 days in the Code of Conduct. The training contains sections dedicated to anti-bribery and corruption. Every month a training report is generated to monitor this target. By the end of 2019, 96 percent (94) of employees and long-term contractors had completed the Code of Conduct training. All members of the Board of Directors as well as the Group Executive Management have undergone training in the Code. A target has also been set for onboarding of new employees, whereby 90 percent of new employees should be trained within three months. The outcome by the end of 2019 was 65 percent.