Governance issues

The rules of the OMX Nordic Exchange provide that the Swedish Code of Corporate Governance (the ‘‘Corporate Governance Code’’) is to be applied by all companies on the OMX Nordic Exchange with a market value exceeding SEK 3 billion. Systemair will comply with the Corporate Governance Code following completion of the listing. The Corporate Governance Code is based on the principle of ‘‘comply or explain,’’ meaning that a Company may deviate from the provisions set forth therein, provided that each such deviationis properly explained.