Corporate Governance Guidelines, 2015

Iceland Current 2015

The Guidelines were published by the Iceland Chamber of Commerce, SA – Business Iceland and Nasdaq Iceland, and are aimed at assisting managers and boards to meet their corporate governance obligations. Companies need to comply with or explain deviations from the Guidelines. Chapter 2 requires the company Board to set a policy for social responsibility for the Company and a written code of ethics for the Company’s Board members, its managers and employees. The Guidelines expect a separate chapter in the annual accounts or Annual Report with a statement on the company’s governance (section 6.1.1). The statement shall include, among others, details of the Company’s policy on social responsibility and ethical standards. The Company shall also reserve a section of its website for good corporate governance.

Scope

Governance

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

Large companies (listed & unlisted ) - public interest entities, financial institutions and insurance undertakings

Issuer type

Chamber of Commerce

Type of instrument

Code of conduct or guideline

Mandatory or voluntary

Mandatory

The geographical scope

National

Project Partners