Business conduct policies and corporate culture (G1-1)
Code of Conduct (CoC)
Our CoC outlines the appropriate business conduct and expected behaviors we all must follow to live up to the high ethical standards and integrity we hold ourselves to. It is based on applicable law and internationally recognized principles for how companies should conduct business responsibly. It summarizes the policies that apply to all companies in the Epiroc Group. It sets out important principles and outlines the channels through which we can raise a concern or obtain guidance. It guides our relationships with stakeholders, helping us maintain our reputation, and to continuing to earn their trust every day.
Epiroc is a signatory of UN Global Compact (UNGC) and is committed to conducting its business in accordance with:
- UN Guiding Principles on Business and Human Rights (UNGP)
- United Nations International Bill of Human Rights
- International Labour Organization Declaration on Fundamental Principles and Rights at Work and subsequent core conventions
- OECD’s Guidelines for Multinational Enterprises
- UN Sustainable Development Goals (SDGs)
- UN Convention against Corruption
- The Rio Declaration on Environment and Development
These commitments are reflected in Group policies and procedures.
The CoC is designed to help all Epiroc employees, including everyone acting on behalf of Epiroc, to do the right thing. It is applicable to situations that may occur in our workday and sets out the principles for interactions with our stakeholders. A CoC E-learning, mandatory for all employees to conduct once every year, is available in twelve languages.
Group functions and councils are responsible for oversight within their respective areas, and our divisions and local management drive the implementation of our CoC and our compliance governance framework at local level. Each manager is responsible for the implementation, day-to-day reinforcement and follow-up. It is the responsibility of each employee to make themselves familiar with and follow the CoC and be committed to living our values.
The CoC is reviewed regularly by VP Group Compliance and VP Sustainability and approved by the President and CEO. External stakeholders can access our CoC via our Group website, https://www.epirocgroup.com/en/sustainability/code-of-conduct.
Speak Up Policy
The purpose of this policy is to describe the reporting channels that Epiroc offers for receiving reports with information on misconduct. It includes information about what can be reported, how reports are handled, who can report and how. Epiroc will not tolerate retaliation against any employee for reporting an ethics or compliance issue or for participating in an investigation in good faith. The Speak Up policy states that Epiroc will not hinder reporting persons from reporting information, nor retaliate against them, those assisting them, related third parties (like colleagues or relatives), associated legal entities, or for consulting with their labor union.
The policy applies to all Epiroc entities. The manager of each entity is responsible for translating the policy into the local language and sharing it with the organization by publishing it on the intranet and other relevant platforms. The policy is reviewed annually by VP Group Compliance and approved by SVP General Counsel.
The Speak Up policy is highlighted in the mandatory annual CoC training for all employees to support the effective use of this channel.
Anti-Corruption Policy
The purpose of this policy is to guide our employees in adhering to Epiroc’s principles of abstaining from corrupt practices, never paying or accepting bribes, and competing fairly for business opportunities. It provides information about prohibited actions for employees and third parties, definitions of anti-corruption terms, procedures for reporting policy violations, and the consequences of non-compliance.
The policy applies to all Epiroc employees. Additionally, Epiroc expects its business partners to conduct themselves in an ethical manner consistent with the mandates in this policy and Epiroc’s Business Partner CoC. The General Managers at each Epiroc entity, with support from divisions, are responsible for fulfilling applicable requirements in this policy and local legal anti-bribery and anti-corruption requirements, in their respective organizations.
The policy is reviewed annually by VP Group Compliance and approved by SVP General Counsel. Epiroc’s internal policies and guidelines are published in the Epiroc Way.
Mechanisms for identifying, reporting and investigating concerns
Employees and external parties are encouraged to report violations of laws, regulations, or Group policies. To facilitate reporting, we have the Epiroc Speak Up system, managed by Group Compliance. This is a third-party phone and web-based reporting tool, allowing open or anonymous reporting of concerns in local languages. The Speak Up system can be used to report information, acquired in a work-related context, on misconduct in violation of applicable laws (including European Union law), other irregularities in respect of which there is a public interest, violations of the Epiroc CoC, Epiroc BP CoC or Group policies. For example, issues such as fraud and corruption, conflict of interest situations, non-compliance with environmental laws, health and safety issues, violations of human and labor rights, harassment, and diversity issues.
Reporting in Speak Up is open to all employees, business contacts, applicants, volunteers, trainees, self-employed persons, persons working under the supervision and control of customers, contractors, sub-contractors, suppliers or other undertakings or bodies, shareholders, persons who are members of administrative, management or supervisory bodies or available for such positions.
In addition to the Speak Up system, employees have other reporting channels available to them. They can directly approach their manager, their manager’s manager, the local HR representative, or internal resources within Compliance or Legal departments. These internal channels are the most common way for employees to raise concerns.
In the Speak Up process, receipt of report will be acknowledged within seven days, and impartial investigator(s) will be designated to investigate reported issues and provide feedback to the reporting person on the outcome of the investigation and potential actions taken, preferably within three months, as was the case in 78% of closed cases in 2025. The Legal and Compliance Board is provided with an overview of the matters handled in Speak Up, the outcome of the investigations and any actions taken, on a quarterly basis. As a learning organization, we embrace the lessons learned from the issues and concerns raised to us. Speak Up cases are reported to the Audit Committee once per year.
The system is widely recognized, with reports being received from all regions of our global operations. Information about Speak Up is displayed on posters at all sites and published on both the internal and external websites. For those without internet access, Speak Up can also be reached via phone, ensuring all employees have access.
In 2024, the system was upgraded to a new platform with enhanced features, such as better possibilities for statistics e.g. based on more detailed misconduct categories, additional outcome categories, etc. During 2025, the investigation process has been revised with Group Internal Audit and Assurance, alongside updates to the Speak Up Policy, Investigation Guidelines, and all regular investigators has received class-room training.
Epiroc is subject to the EU Whistleblowing directive (Directive 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law). By implementing the Speak Up Policy, the directive is adhered to.
Corporate culture
Epiroc’s vision “Dare to think new” challenge our ways of working, thinking, and acting to find new, effective, and sustainable solutions. This vision is embedded in our value-creating strategy. Our values are integrated into our Hire-to-Retire processes - from recruitment and onboarding to performance development and leadership programs. We promote our culture through ongoing communication and collaboration events for all our employees, such as Epiroc Day and Career Days. We foster an inclusive environment where everyone can develop, grow professionally, and build a career. Read more in ESRS S1 Own workforce.
Our CoC, supplemented by other policies, for example our Sustainability Policy and Speak Up Policy, provides direction for making ethical decisions and maintaining integrity. Given the varying laws and conditions across our regions, the CoC guides ethical business practices, promotes positive social and environmental impact, and supports a Speak Up culture. Epiroc conducts an annual employee survey to measure engagement and capture employees’ perceptions of our management. The survey includes a leadership index based on responses related to leadership expectations. Epiroc places a high focus on safety culture and behavior. Metrics such as sickness levels and employee voluntary turnover indicate how employees experience their environment.
By integrating these elements into our ongoing operations, Epiroc ensures that our corporate culture is continuously developed, promoted, and evaluated to align with our vision and strategic goals.