BUSINESS ETHICS

HOW WE WORK FOR A HEALTHY AND SUSTAINABLE ENVIRONMENT

Midsona works to reduce its negative impact on the environment and change towards an environmentally sustainable society. Our climate impact in the direct control of our own operations is mostly related to freight transport and energy use.

We joined DLF's Transport Initiative in Sweden, for a common goal of 100 percent fossil-free transport. At Midsona, this goal must also apply to other parts of the group.

Midsona's energy supply is increasingly based on renewable energy and consists almost entirely of renewable electricity in all offices, warehouses, and production departments, where we have influence over the electricity contract.

Our environmental work is regulated, among other things, in the Code of Conduct, the Supplier Code of Conduct, the Sustainability Policy and underlying procedures.

With Midsona's work for a healthy and sustainable environment, we support the following global goals for sustainable development.

EXPECTATIONS OF EMPLOYEES AND STAKEHOLDERS AT MIDSONA

Midsona has been a participant in the UN Global Compact for several years, and we thereby support the UN Declaration on Human Rights, the UN Convention against Corruption, the ILO's fundamental conventions and the Rio Declaration.

It is of the highest priority for Midsona to respect human rights and labor law and to protect health, safety and the environment. We also expect our suppliers and other collaboration partners to have the same priorities.

Our work around human rights is regulated, among other things, in the Code of Conduct, Supplier Code of Conduct, Supplier Self Assessment and the Personnel Policy as well as underlying procedures.

With Midsona's work to improve people's health and work for human rights, we support the following global goals for sustainable development

CREATE THE CONDITIONS TO OPERATE MIDSONA IN A HEALTHY AND SUSTAINABLE WAY

With governing documents, Midsona creates the conditions for responsible and motivated employees with the best interests of customers and consumers in mind.

Ethics and countering corruption

Midsona must be run in a healthy and sustainable manner. We are keen to always act in line with our values ​​and always counteract all kinds of corruption and irregularities. Midsona's employees are expected to act in an ethical manner in their relationship with the group's stakeholders and no corruption is accepted. Midsona's whistleblower service is for employees who have concerns about behavior that conflicts with the group's values ​​and governing documents. Our whistleblower service is managed by an external party and is completely confidential. It is possible to report a case anonymously.

The group's internal regulations

Midsona has developed a structure for the group's internal regulations to ensure that we work with a formalized model for internal controls that is in line with our culture and ethical values. Each governing document has a responsible person who ensures that routines for training and follow-up of the content of the document are in place.

Code of Conduct

The most important governing document is the Code of Conduct and all employees are expected to know its content. It is included as a natural part of the introduction of newly employed personnel. The individual employee, the board and everyone else who acts in Midsona's name must act in a responsible manner, with integrity, responsibility, loyalty and respect for other people and for the environment. Midsona's Code of Conduct is available - in addition to Swedish and English - also in Danish, Finnish, Norwegian, German, French and Spanish.

The Code of Conduct is included in all new employees' induction programs and a separate reminder of the content is posted once a year on the intranet. It is also always available on the intranet home page.

Midsona's work to maintain an ethical way of working in all situations and to combat corruption is regulated in the Code of Conduct, the Corporate Governance policy, Policy for communication and IR as well as in the Whistleblower policy.

With Midsona's work to counter corruption and irregularities, we support one of the global goals for sustainable development.

Midsona does not accept any form of discrimination and respects the employees' rights and freedoms. Midsona does not accept any form of forced and child labour. Midsona prioritises its employees' health and safety and offers a creative and developing working environment. In all contexts, Midsona seeks to encourage and act in line with sound competition principles. All communication should take place in accordance with applicable legislation and the Group's policies. Midsona's employees are expected to act in an ethical manner in relation to the Group's stakeholders and no corruction is accepted.

The Group's whistleblower policy is an important tool to quickly call attention to and combat conduct that is not in line with Midsona's values. Our employees can raise a concern anonymously by using our Reporting channel, managed by a third-party.

Examples of serious anomalies/improper behavior:

• Corrupt or fraudulent conduct of business
• Conduct that is a breach of the Group's Code of Conduct or policies
• Mismanagement of Midsona's resources
• Conduct that involves a serious risk to health or safety of employees or the public, or the environment
• Conduct that - if proven within the legal system - is criminal
• Conduct that would constitute grounds for dismissing or dispensing the employment within the Group of the person/-s involved
• Conduct that covers up earlier wrongdoings

Sustainability governance

Midsona’s view of sustainability

Midsona’s mission is to help people live a healthier life, which we do by offering sustainable, plant-based and organic products. In this way, we also contribute to a sustainable life.

It is important for Midsona to be valued not only on the basis of our financial results, but also on the basis of our work with the environment, working conditions and business ethics. Central to this is that we prioritize our employees’ health and safety, as well as their right to a creative and stimulating work environment pervaded by equality and diversity.

At Midsona, sustainability and profitability coincide. This means that our sustainability work and the targets we set must be an integral and transparent part of our operations, with sustainability risks being managed in the same way as other risks in the Company.

How our sustainability work is managed

In general, Midsona’s sustainability management addresses our handling of social and environmental issues, risks and opportunities, as well as how we act to minimize our negative impact. Based on this, we set meaningful targets, with efforts being supported by comprehensive leadership, attention to changes in society and consideration for the expectations of our stakeholders. Closely linked to this is our commitment to local communities, the health of our employees and our ambition to be a company that
is managed responsibly.

Midsona’s Board is responsible for the Group applying a realistic agenda for sustainable development. The CEO bears the overall responsibility for sustainability-related issues and is a member of the Company’s Sustainability
Steering Group and regularly reports the group’s decisions to the Board of Directors.

The Sustainability Steering Group, which is led by the Company’s CSO, holds quarterly sustainability forums where the sustainability strategy is established and the sustainability work is discussed in terms of strategy, targets, projects, activities and progress. In addition to the CEO and CSO, the group consists of Director Operations, Director Legal, Executive Assistant and the Company’s Division Director Nordics. The CSO is tasked with setting out the Group’s sustainability strategy with strategic measures and long-term targets, ensuring that we base our efforts on the best global frameworks and secure annual sustainability data by preparing and issuing a Sustainability Report. The CSO shall also ensure good sustainability management so that the Group’s decisions are implemented in a cross-functional Sustainability Group comprising representatives of the Group’s three divisions.

Specific line organisations in the Group’s divisions are responsible for implementing targets, sub-targets, projects, activities and reporting in connection with the sustainability work, and for integrating these into the day-to-day activities. The work is reported on quarterly directly to the relevant Division Director, who together with the division’s Sustainability Manager is responsible for their division’s results.

To support the work, Midsona’s management builds on a clear division of responsibilities in which all roles and their respective duties are detailed. In addition, clear KPIs and incentives are applied in the handling and implementation of target-related matters established in the day-to-day operations.

The Board of Directors is responsible for formally reviewing and approving the Sustainability Report. The CSO is operationally responsible for the Sustainability Report.

The reporting period for the data provided is the 2021 financial and calendar year. The most recent preceding report was for the 2020 calendar year, and was published in April 2021. The reporting cycle is annual.

The contact persons for questions regarding the Sustainability Report or its contents are the CEO and CSO. This report has been inspired by the Global Reporting Initiative (GRI) and is Midsona’s first step towards establishing a Sustainability Report in accordance with the GRI Standards: Core option. We have combined the two different basic methods for applying the GRI standards:

1. Use the GRI standards as a set of standards for preparing a Sustainability Report in accordance with those standards.

2. Use selected standards, or parts of their content, to report specific information.

We have partly applied the standards as a framework for producing a Sustainability Report in accordance with the GRI Standards. For certain areas, we have applied selected GRI information, or parts of its content, to report specific information with corresponding claims or descriptions of use. This is based on what is material for Midsona, in terms of what our stakeholders want to know and the quality of the data.

Midsona has chosen to connect the sustainability work to the UN Global sustainable development goals. The goals cover a large number of issues and we have analysed and mapped the way in which Midsona best contributes to
Agenda 2030. We have applied the GRI’s mapping tool “Linking the SDGs and the GRI Standards” as a basis for this work.

The GRI index (Annual Report 2021 page. 104-109) reports both the GRI index and our new updated SDG survey from 2021, the information reported and where this information can be found. Some disclosures are partially reported based on relevance.