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Code of Conduct

INTRODUCTION

Basware is the global leader in providing networked purchase-to-pay, e-invoicing solutions and financing services in the world of commerce.

Purpose of Code of Conduct

This Code of Conduct is designed to establish a set of common principles for employees in all the countries in which Basware operates.

The Code of Conduct provides Basware´s customers, other business partners and investors with information about the principles according to which Basware operates and expects its suppliers and partners to operate.

This Code of conduct will be reviewed and revised as frequently as is necessary to ensure the effectiveness of the model and make sure that the content hereof conforms to the ethical conduct and compliance issues that are most relevant for the company at any given time.

BASWARE VALUES

Basware company culture is based on high business ethics and company values that guide the operations. Our values lie at the very heart of the culture wherever we work.

Drive customer success

We work as one committed team helping our customers reach their goals. Our customers’ success is our success.

Lead the way

We are thought leaders who create innovative solutions and services. Dedication and continuous improvement make us market leaders positioning us as trusted partners with our customers.

Strive for excellence

We are great professionals seeking opportunities to improve. We are Rock Stars who always deliver our very best.

Inspire and be inspired

We are at the heart of our business bringing out the best in each other. Achieving great things takes courage, passion and inspiration. We have fun in our work and are proud to be Baswareans.

ETHICS/LEGAL COMPLIANCE

Acting ethically

Basware complies with all applicable laws and regulations in all locations where Basware operates. If applicable laws and regulations are more permissive than this Code of Conduct, Basware complies with this Code of Conduct. If applicable laws and regulations are more restrictive, we comply with the legal requirements. In addition, Basware always acts in accordance with high standards of business ethics.

Anti-bribery and corruption

As part of Basware’s commitment to conducting its business in an honest and ethical manner, Basware takes a zero-tolerance approach to bribery and corruption, and upholds all laws relevant to countering bribery and corruption in all jurisdictions in which it operates. Details of Basware’s position on this topic is set out in the separate Anti-Bribery & Corruption Policy (which accompanies this Code of Conduct), and sets out the responsibilities of all Basware staff in observing and upholding that position. The policy provides guidance on how to identify prohibited activities such as offering or accepting a bribe, bribing a public official, offering or accepting so-called ‘facilitation payments’ or ‘kickbacks’ and inappropriate client entertainment, gifts and hospitality practices.

Basware implements a series of proactive measures to address the risk of bribery and corruption to its business, including educating all staff, conducting necessary and on-going training according to functional needs, establishing a process for staff to seek guidance and providing a secure and anonymous tool to report suspected acts of bribery and corruption.

Please refer to the Anti-Bribery and Corruption Policy for further details.

Insider trading

Basware employees are prohibited from trading in Basware shares based on nonpublic information; that refers to the information public does not yet have access to, and this information may be deemed interesting for an investor when deciding whether to buy or sell shares. This rule also applies to other companies, where Basware employees may have access to such nonpublic information. Please note that even giving a tip to family and friends is prohibited, if this is to be used as a basis for buying or selling shares.

Intellectual Property Rights and personal data

Basware is committed to protect the confidentiality of the information of its customers and other business partners and shall not disclose such information improperly. Basware protects its customers´ and its other business partners’ intellectual property rights and expects the same from its partners regarding the intellectual property rights of Basware. Basware shall ensure that due attention is paid to the appropriate security and safe keeping of proprietary information.

Data privacy

Basware recognizes the importance of privacy of individuals and is committed to protecting the personal information received. Basware complies with privacy and information security laws and regulatory requirements when personal information is collected, stored, processed, transmitted or shared. Please see the Basware Privacy Policy for details at www.basware.com/privacy-policy.

Antitrust and competition Laws

Basware shall comply with appropriate competition laws in all countries of operation. For example fixing or controlling of prices with competitors is prohibited as well as dividing or allocating markets or customers. Violations of antitrust or competitive laws may result in serious penalties, including significant fines and imprisonment. Basware will obey these laws at all times.

Conflicts of Interest

Basware employees shall avoid any activities which may lead to conflicts of interests. It is strictly forbidden to participate in any relationship, situation or arrangement that conflicts with Basware’s interests or would compromise the ability to ethically fulfill contractual obligations to Basware.

Political involvement

Basware does not take political stands and therefore the company does not give financial or other kind of support or assistance to individual politicians, candidates, political parties or institutions. The Basware name, logo or any resources owned by Basware, shall not be used to promote the interests of political parties or candidates.

HUMAN RESOURCES

Equal opportunities

Basware supports diversity in workforce and promotes learning and development at an organizational, team and individual level.

Health and safety

Basware is committed to a safe and healthy workplace. Employees are expected to comply with safety and health laws and regulations that apply to our business activities.

HUMAN RIGHTS AND LABOR STANDARDS

Basware unconditionally supports and promotes human rights. The following human rights shall be considered fundamental and universal:

People are employed based on the principle of equal opportunity and without distinction to race, color, gender, religion, affiliation or origin. Basware will not tolerate child, forced or bonded labor, and will be specifically compliant with the relevant standards of the International Labor Organization.

Basware is committed to act according to the values declared within the United Nations’ Universal Declaration of Human Rights, and we commit to obey the United Nations’ Global Compact principles.

ENVIRONMENT

Basware complies with all the applicable environment regulations and it expects that suppliers and partners also obey these regulations. Basware pursues a precautionary approach to environmental challenges; undertake initiatives to promote greater environmental responsibility; and encourage the development and diffusion of environmentally friendly technologies.

WHISTLEBLOWING PROCESS

Whenever any kind of violation of the values, which are defined in this conduct, is distinguished, it should be reported to Basware immediately.

Basware employees may blow the whistle to the Basware Whistleblowing Committee. The identity of the person making the report will be confidential and known only to the people necessary to ensure that the case is handled properly. Any Basware employee who makes a whistleblowing report is protected from any repercussions, such as dismissal and other forms of reprisals.

Please send a report of a violation to EveryActionCounts@basware.com. To ensure that issues do not escalate to the point where they become a whistleblowing case, Basware focuses on communicating the company’s values, rules and regulations regarding ethical conduct and encourage open communication within the company. The Basware Whistleblowing Committee meets regularly to discuss possible issues. The company is in process of implementing a tool to enable anonymous reporting.

QUESTIONS OR SUGGESTIONS

If you have any questions regarding the proper conduct in a certain situation, or if you need assistance to take the appropriate action, please feel free to talk to your manager or contact the HR department at hr@basware.com.

If you have suggestions for improvements of this Code of Conduct, you may send your suggestions to IR@basware.com.

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