Work is continuously taking place on developing a system of rules and routines which ensure transparency, a clear division of responsibility between various bodies of the company as well as well functioning work by the Board of Directors.

SSAB applies the Swedish Code on Corporate Governance (the “Corporate Code”), which constitutes a part of the rules and regulations of the OMX Nordic Exchange Stockholm (Stockholm Stock Exchange). SSAB has no derogations from the Corporate Code. In accordance with the application instructions issued by the Swedish Corporate Governance Council, the corporate governance report for 2007 contains a separate section on the organization of the internal control regarding financial reporting. The report does not constitute a part of the formal annual report documentation and has not been reviewed by the Company’s auditors.