The Swedish Code of Corporate Governance

The Swedish Code of Corporate Governance general aim is to form part of self- regulation in the Swedish business sector. Another aim is to enhance understanding and confidence in Swedish corporate governance on the part of foreign investors and other stakeholders in the international capital market. The code is based on the principle “comply or explain”.

The Board of Directors annually lays down the overall principles of corporate governance within Swedbank, which are in accordance with the Code. No deviations during 2009 have been made from the provisions of the Code.