Prior to the listing of the Shares on Nasdaq Stockholm, the corporate governance of Munters has been based upon Swedish law and internal rules and guidelines.

Swedish Corporate Governance Code

The Swedish Corporate Governance Code ("the Code") applies to all Swedish companies whose shares are listed in a regulated marketplace in Sweden and must be observed as of the first day of trading. The Code outlines a standard for sound corporate governance at a higher level of ambition than that of the Swedish Companies Act and the minimum criteria stipulated in other regulations. The Swedish Corporate Governance Code is based on the "comply or explain" principle, meaning that the company is not compelled to always comply with every rule of the Code, and is instead free to opt for other solutions that are deemed to better suit the circumstances in a particular case, provided that the company transparently reports every such deviation, describes the alternate solution, and states the reasons for said actions in its corporate governance report.

Munters expects to comply with all rules in the Code?from the date of the listing of the Shares on Nasdaq?Stockholm, with the exception of rules 9.7 and 9.8 of the?Code.?Deviations from the Code will be reported?in the Company’s annual corporate governance reports.

Munters’ corporate governance structure

?Illustration of Munters' corporate governance structure


Articles of association

Adopted by the Extraordinary General Meeting on 7 May 2017. The General Meeting’s resolution to adopt the Articles of Association is conditional on completion of the Offering, and the Articles of Association are expected to be registered on 19 May 2017.

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The Board

Chris Curtis

Chairman of the Board, member since 2015.?
Born: 1957.?

Principal education and professional experience: BA, LeMoyne College. Studies in History and Economics. CEO of Wencor Group. Non-executive director of S&C Electric Company.


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John Peter Leesi

President and Chief Executive Officer since? 2014. Born: 1961.

Principal education and professional experience: BA in Business and Finance, Stockholm University. Chairman of the Board of Munters 2012-2015. Former CFO of Sony Ericsson.


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