Corporate Governance report

Swedish Match applies the Swedish Code of Corporate Governance.

The Code is based on the “comply or explain” principle, meaning that a company that applies the Code may deviate from regulations of the Code, but must provide explanations for each deviation.

The Company is not reporting any deviations from the Code for 2012, except with regard to the Code’s regulation that auditors are to review the Company’s half year or nine month report. The reason for this deviation is that the Board of Directors, with reference to the Company’s stable operations, is of the opinion that the extra cost that would be incurred by such a review is not warranted and that sufficient control is achieved through the Company’s internal reporting and control systems.

Swedish Match Corporate Governance reports have been examined by the Company’s auditors but does not represent part of the formal annual report.

For updated information see the Corporate Governance pages on the website.