Governance

Responsible business conduct is a prerequisite for Rugvista’s long-term value creation and for the trust of customers, investors, and business partners. Within Governance, we work to ensure transparency, ethical business conduct, and compliance through clear codes of conduct, supplier requirements, and structured monitoring. Governance provides the framework for our sustainability work and ensures that activities within Planet and People are integrated into the company’s governance, monitoring, and risk management, and are conducted in accordance with applicable regulations.

Material topic

Business conduct

Rugvista’s business is built on long-term relationships with suppliers and other business partners. Through responsible sourcing practices, clear requirements, and continuous monitoring, we work to promote good working conditions, responsible business relationships, and continuous improvement across the supply chain.

We also work to strengthen awareness of business ethics and responsible conduct throughout the organisation. This includes preventive measures, clear internal guidelines, and mechanisms to identify, report, and address deviations.

Codes of conduct and governing documents

Rugvista’s codes of conduct and policy documents are key governance tools to ensure ethical business conduct and compliance within both our own organisation and the supply chain. These documents define the requirements and expectations applicable to employees, suppliers, and other business partners. Policies and guidelines are reviewed regularly and updated as needed.

Key governing documents include:

• Rugvista's code of conduct for employees
• Rugvista's code of conduct for suppliers
• Rugvista's anti-corruption policy
• Rugvista's whistleblowing policy
• UK Modern Slavery Act statement

Rugvista’s Board of Directors, management, and all employees are subject to the company’s Code of Conduct and are expected to act in accordance with our ethical guidelines, company principles, and applicable laws. The Code of Conduct is communicated upon employment and is available to all employees. Compliance is monitored through internal controls, training initiatives, and established reporting channels.

For suppliers, signing the Supplier Code of Conduct is a requirement as part of the business relationship. Compliance is monitored through third-party audits and structured dialogue related to identified risks and areas for improvement.

Compliance with laws and regulations

Rugvista works to ensure compliance with applicable laws and regulations, as well as internal governing documents. This includes internal controls and ongoing monitoring of relevant risks related to sustainability and business conduct.

In 2025, Rugvista had no material cases of non-compliance with laws and regulations. There were also no fines or sanctions related to regulatory breaches.

 

Anti-corruption and prevention

Corruption risks may arise in some of the regions where our suppliers operate. Rugvista has zero tolerance for corruption and works proactively through clear guidelines, requirements for business partners, and training initiatives for relevant roles within the organisation.

In 2025, no confirmed cases of corruption were identified. There were no reported cases of employees being dismissed or subject to disciplinary action due to corruption, and no business relationships were terminated or not renewed due to corruption-related breaches.

Transparency in the supply chain

Transparency in the supply chain is a key part of Rugvista’s work on responsible business conduct. We work with a limited number of strategic suppliers, prioritising long-term partnerships and continuous improvement in social and environmental compliance.

All production facilities are subject to regular third-party audits conducted through amfori BSCI or Label STEP. Prior to entering into new partnerships, we conduct risk assessments with a particular focus on working conditions, environmental impact, and compliance with our requirements.

To strengthen traceability and integrate sustainability risks into our supplier governance, we work systematically to map the supply chain beyond Tier 1. During the year, we mapped 100% of our Tier 2 suppliers as part of our risk-based due diligence process. The next step is to continue mapping Tier 3 and Tier 4, with a focus on the parts of the value chain where sustainability risks are assessed to be greatest. This work aims to progressively increase transparency, strengthen risk assessments, and ensure responsible business relationships across the value chain.

External whistleblowing function

Rugvista provides an external whistleblowing service via 2Secure, enabling anonymous reporting of suspected misconduct or violations related to our codes of conduct. The service is available to both employees and workers within our supply chain. All reports are handled confidentially and assessed in accordance with Rugvista’s whistleblowing policy. In 2025, Rugvista received no reports through the whistleblowing channel.