NF3 Code of Conduct

The Sandvik Code of Conduct, rooted in our core values, underscores our strong commitment to ethical and responsible business practices, ensuring compliance with relevant laws and regulations across all our markets. The Code of Conduct defines the principles governing individual and corporate behavior, providing guidance for our actions and everyday business decisions.

To uphold these standards, Sandvik has set a target to train 100 percent of employees and long-term contractors who have been employed for over 90 days, in the Code of Conduct. This training covers critical topics such as anti-bribery, corruption, diversity and inclusion, among others. The target is monitored via compliance reports and training dashboards. By the end of 2023, 97 percent (95) of employees and long-term contractors had completed the Code of Conduct training. All members of the Group Executive Management and the Board of Directors have undergone training in the Code.

The goal for onboarding new employees is to train 90 percent within three months of their hiring. By the end of 2023, the outcome was 83 (77) percent. Additionally, refresher training, reinforcing Code of Conduct principles, is automatically deployed to employees who completed the training more than two years previously. As of December 31, 2023, 91 (89) percent of the invited population had successfully completed this refresher training.