Code of
Conduct

Arjo AB (publ)

1. Introduction
As a world-leading provider of caregiver equipment, Arjo AB (publ) (“Arjo”) supports thedaily tasks of aiding, lifting and transferring health care patients. We promote early mobility,
facilitate patient hygiene and help prevent pressure ulcers and deep vein thrombosis.
The offering encompasses a broad number of products and solutions in areas such as Safe
Patient Handling, Prevention of Venous Thromboembolisms, Medical Beds, Intensive Care
Units, Early Mobility, Hygiene Systems, Bariatric Care, and Pressure Ulcer Prevention.
By helping to improve care results while increasing safety and productivity, our solutions
ensure that healthcare providers and hospital staff get a more efficient and ergonomicallysound working environment.
Arjo supports efforts to meet the growing demands within the elderly care sector. Our
solutions address the clinical needs for long term care residents and patients with chronic
health conditions. The product range includes positioning solutions, mattress systems,
hospital beds, hygiene systems and compression therapies that are safe, easy to use andhave a proven ability to address preventable injuries, such as pressure ulcers.
In addition to providing excellent products and solutions – Arjo wants to conduct business ina sustainable way. Arjo’s Guiding Principles have been created to foster a customer-centricculture and to build a sustainable and winning Arjo. This Code of Conduct – structured inaccordance with the four focus areas identified in the UN Global Compact (human rights,
labour conditions, environment and anti-corruption) – shall be applied in the production,
supply, support and sales of Arjo’s products and services worldwide.
In addition to this Code of Conduct, Arjo has a separate Business Partner Code of Conduct
where demands on and expectations of our business partners are specified. The Business
Partner Code of Conduct mirrors to a large extent Arjo’s expectations of its employees as
described in this Code of Conduct.

2. Arjo’s Guiding Principles
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Encourage growth and leadershipDear colleagues,
Our Code of Conduct is a guiding star for how to act as a representative for Arjo when weinteract with colleagues, customers, suppliers, authorities, shareholders and otherstakeholders.
Simply reading the code is not enough. We must live by it. Arjo's reputation – and in the end
our growth and profitability – has a direct connection to the way we as employees act within
the company and how we interact with external contacts.
Operating in the field of medical technology – with passion for life – requires very highstandards of ethics and integrity. This is the key to earn and maintain the trust of ourcustomers and shareholders as well as of the patients and caregivers that use our products
and services.
The Code of Conduct is designed to raise the awareness of our ethics and to support aculture of openness, integrity and accountability. Please study and consult it when you wantto ensure that you make the right decisions in your daily work and never hesitate to raise aquestion when you're unsure or don't find a clear answer.

With kind regards,

Joacim Lindoff
President & CEO
Arjo AB (publ)

3. General principles and scope of application
This Code of Conduct (the “Code”) has been established to emphasize the basic principles
that guide Arjo’s operations. The Code applies to the company, and all company employees,
directors, and officers (“employees”) and its subsidiaries and controlled affiliates.
The Code shall guide the daily production, supply, support and sales business of Arjo’s
employees in their relations with other employees, customers, suppliers, shareholders andthe community and is designed to help employees make the right decisions for themselves
and the company. The Code shall serve as Arjo’s overall policy – more detailed regulations
are found in policies available on Arjo’s intranet.
Arjo comply with all relevant laws, regulations and standards in all of the countries in which
Arjo operates. In addition, all employees shall comply with this Code even if it stipulates
higher standards than required by national laws or regulations. Should the Code be in
violation with national laws or regulations, the law shall always be complied with and prevail.
If such cases are identified, Arjo Management Team shall immediately be informed.
The Code is derived from the United Nations Universal Declaration of Human Rights; theInternational Labour Organisation’s Declaration on Fundamental Principles and Rights at
Work; OECD; Guidelines for Multinational Enterprises and the Ten Principles of the United
Nations Global Compact. They reflect our aim to respect human rights as described in the
United Nations Guiding Principles on Business and Human Rights.
The Code has been adopted by the Board of Directors of Arjo and will be reviewed annuallyand updated as necessary.

4. Human rights and labour conditions
4.1 International Human Rights
Arjo respects internationally recognized human rights. This means an undertaking to notcause, contribute to, or, through Arjo’s operations, be linked to negative effects on humanrights.

4.2 Freedom of association and employee consultation
Arjo strives to maintain a good communication with each employee through company
information and consultation procedures, recognizing the right of organization for employees
and the right to collective bargaining and agreements. Arjo also strives to maintain goodcommunication with and involvement of the unions where applicable and to always work for
openness and an open atmosphere where experience and ideas are shared in acollaborative way.

4.3 Forced labour
Arjo does not accept the use of forced labour or other forms of involuntary labour, including
prisoners, bonded workers, illegal workers, or other non-paid workers. Arjo complies withapplicable laws and international standards regarding forced labour.

4.4 Child labour
Arjo does not accept the use of child labour and complies with applicable laws andinternational standards regarding child labour. Arjo follows the ILO-definition of child labour,which is work that deprives children of their childhood, theirs potential and their dignity, andthat is harmful to physical and mental development.

4.5 Non-discrimination
Employees are recruited and promoted solely on the basis of their qualifications for the job,regardless of gender, transgender identity or expression, ethnicity, religion or other religious
belief, disability, sexual orientation, age, political opinion, union membership or marital
status. As Arjo believes that different perspectives are the best basis for any decision, Arjo
works actively to stimulate diversity. Arjo does not tolerate any form of harassment orviolence in the workplace.

4.6 Working environment
Arjo strives to be an attractive employer by creating a working environment based oncollaboration, ownership and openness where the employee’s engagement and passion areused to stimulate this culture. The well-being of employees, including safe and healthy
working conditions, shall be a highly prioritized matter. Arjo shall constantly strive to improve
working conditions. Working conditions are followed-up both locally and in reviews by Groupfunctions.

4.7 Compensation and development
Each employee shall be rewarded in a correct and fair manner in accordance with theircontribution to the company and their individual performance. Arjo focuses on eliminating
any improper wage differences. All employees shall be offered opportunities for appropriate
training to help them develop relevant skills, grow within the company and progress theircareers. Arjo’s employees are expected to take ownership within their area of responsibility
to develop both personally and professionally and strive towards excellence.

5. Environment
5.1 International environmental law principles
International environmental law principles are supported and respected. Arjo supports aprecautionary approach to environmental risks. Arjo also undertakes initiatives to promote
great environmental responsibility and to encourage the development and diffusion ofenvironmentally friendly technologies through, among other things, increased use ofalternative energy sources.

5.2 Environmental Impact
Arjo aims to reduce the negative environmental impact of the Arjo’s products throughout
their life cycles and is committed to prevent or otherwise minimize and mitigate any harmful
effects that Arjo’s operations or products may have on the environment.

6. Business ethics and anti-corruption
6.1 International rules on anti-corruption
International rules on anti-corruption are supported and respected. Arjo works against
corruption in all its forms, including extortion and bribery.

6.2 Gifts, hospitality and personal benefits
Gifts, hospitality and personal benefits may be offered to a third party only if they are
consistent with applicable laws, regulations and industry codes as provided for in Arjo’s
Global Anti-Corruption Policy. The same requirements apply to Arjo employees receiving
gifts, hospitality and personal benefits. Arjo keeps up-to-date with local law and industry
practice through cooperation with relevant partners and units in every country. Arjo also
makes sure that the employees have ways to report any irregularities, in accordance with set
policies.

6.3 Interaction with health care professionals and health care organizations
Arjo is committed to observe industry codes and guidelines that addresses interaction
between the industry and healthcare professionals and organizations.

6.4 Community involvement and contributions
Arjo seeks to make a positive and sustainable contribution to the communities in which Arjo
conducts its business. Employees are encouraged to participate in community affairs, but
Arjo does not support political parties and does not make political donations. Charitable
donations will generally be made to high-quality research and development in the medical
technical field in accordance with Arjo’s focus areas in different units and regions.
Investments in education is also in line with the ambition of Arjo as a sustainable andresponsible company.

6.5 Fair Competition Practices
While Arjo always will compete strongly for business opportunities, this must be done fairly
and in compliance with competition and antitrust laws. Such legislation generally prohibits
agreements or understandings between competitors that undermine competition, including
price fixing, allocation of customers or geographical markets, bid rigging or abuse of
dominant position. Of course, it is perfectly fine to collect business intelligence throughpublicly available sources. However, Arjo does not propose or enter into any agreements orunderstandings – whether expressed or implied, written or oral – with any competitor
regarding sensitive matters such as pricing, bids, terms and conditions etc. If in doubt,
always refer to Arjo Finance and Legal.

6.6 Conflicts of interest
No employee may be involved in an activity or hold a position outside Arjo that is in conflictwith the company’s business interests. Such conflicts of interest could also include
directorships, significant shareholdings or the employment of family members.

6.7 Customer safety
Arjo is committed to providing sustainable solutions, products and services yielding
consistently high value, quality and reliability. Product and patient safety are of the utmost
importance and Arjo shall use its best efforts to maintain product and patient safety at all
times. All Arjo’s products and services shall comply with relevant regulatory requirements inthis respect including good manufacturing practices and Arjo policies.

6.8 Accounting and communication with shareholders
Arjo will provide accurate, timely and transparent information on the company’s activities,
performance and financial situation to all shareholders in accordance with stock market
regulations. Arjo’s accounting statements will present a true and fair picture of thecompany’s financial performance in line with International Financial Reporting Standards.

6.9 Privacy
To the extent that Arjo collects, processes and handles confidential personal information of
consumers, employees and third parties, it will do so in compliance with applicable privacy
laws and relevant Arjo policies. Any such personal data shall be maintained securely andmay only be disclosed to individuals with proper authorization to receive such data, unless adisclosure is required by law.

6.10 Insider trading
Arjo employees may not disclose insider information to third parties, including friends orfamily, and may not buy or sell Arjo shares based on the insider information. Insider
information is information that is not public and could reasonably be expected to impact the
Arjo share price. Examples of insider information are significant financial changes to thecompany or the acquisition or divestment of a business. With the intention of further reducing
the risks of insider trading and other prohibited actions, the Board of Directors of Arjo has
adopted an Insider Policy as a supplement to applicable insider laws. The requirements set
forth in the Insider Policy are in some respects stricter than applicable laws. Violation of
insider trading laws may result in criminal liability and may cause damage to Arjo’s
reputation. If in doubt, always refer to Arjo Finance and Legal.

6.11 Taxation
Arjo has operations in several countries across the world and it is of utmost importance that
Arjo complies with guidelines for transfer pricing of inter-company transactions as well as
local tax legislation. Arjo strives to minimize its tax risks while being fully compliant with tax
laws. Arjo shall be a good citizen in the countries where the company has presence and pay
tax based on the economic outcome of the operations. This is of vital importance not theleast since the lion share of Arjo’s customers are either directly or indirectly financed by the
public sector relying on its fiscal income.

7. Implementation
This Code applies to all employees, contracted staff and all Arjo business activities,
regardless of location. It is intended to guide employees on how to act with integrity andgood judgment at all times. The implementation and observance of the Code is the
responsibility of Arjo leaders and overall by the Arjo Management Team. Arjo monitors
compliance with the Code through routine, periodic reporting and auditing of Arjo’s
operations within the sustainability area locally and at group level.
Arjo encourages all employees to raise any integrity concerns that may arise. If violations of
the Code or any other internal policies or laws and regulations are detected, employees
should raise any concerns with their immediate manager, local HR or other appropriate
superior. In case normal procedures cannot be used, employees should raise concerns
through Arjo’s whistleblowing system. Arjo’s Whistleblowing Directive details the types ofmatters that can be reported through the whistleblowing system. All concerns may besubmitted anonymously and will be investigated. No reprisal of any kind is tolerated againstcomplainants acting in good faith. Anyone violating the Code may be subject to disciplinary
action up to and including termination of employment.
When acquiring a new company, a time plan is set to complete the on-boarding process inrelation to the implementation of the Code as well as other global and local policies.
Acquired companies shall be on-boarded within one year from finalization of the acquisition.
The company’s overall environmental goal is to contribute to a sustainable society. We arecommitted to optimizing the use of energy and natural resources, minimizing our emissions
to air and reducing the environmental impact of our waste handling.