Modern Slavery Act Statement 2024

Slavery, forced labor, and human trafficking are infringements of fundamental human rights with profound and severe negative effects on people’s lives. Stokke has a zero-tolerance approach to any form of modern slavery within its operations or value chain. Stokke defines modern slavery as encompassing slavery, slave-like practices, serfdom, forced or compulsory labor, child labor, and trafficking of human beings.

Stokke‘s core values are aligned with the United Nations Guiding Principles (UNGPs) on Business and Human Rights. Stokke commits to respect all internationally recognized human rights as set out in the International Bill of Human Rights, including the Universal Declaration of Human Rights (UDHR), the International Covenant on Civil and Political Rights (ICCPR), and the International Covenant on Economic, Social, and Cultural Rights (ICESCR). This commitment also extends to the International Labor Organization’s (ILO) Declaration of Fundamental Principles and Rights at Work. With a commitment to responsible business practices, Stokke has policies aligned with the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises. Stokke continuously reviews and improves its approach to ensure compliance and strive for best practice.

Stokke understands that its global business can potentially impact the lives of many people, directly and indirectly, throughout the supply chain. It is strongly committed to making a positive impact through its purpose, its products, and its sustainability strategy. At the same time, the business remains aware of the potential for negative impacts it may cause or be linked to. For this reason, Stokke recognizes its responsibility to regularly assess, mitigate, and remediate any infringement on human rights occurring within Stokke’s supply chain and affecting the company’s numerous stakeholders. Stokke is committed to taking swift action when needed to ensure that its impact is as positive as possible.

Stokke is a proud Norwegian company, internationally recognized for best-in-class products for children, including high chairs, strollers, nurseries, baby carriers, and more. Combining Scandinavian design with innovation, it creates premium solutions that support child development and foster family connection. Its mission is to empower children to thrive and explore their full potential. From launching award-winning innovations to evolving beloved classics, the company remains committed to delivering long-lasting value to families worldwide.

With a heritage spanning over nine decades, Stokke continues to honor its Scandinavian roots, craftsmanship, and dedication to uncompromising quality. Its journey into children’s products began in 1972 with the introduction of the iconic Tripp Trapp® chair, designed by Peter Opsvik. Made in Europe and regarded as a true design classic, Tripp Trapp® has found a place in more than 15 million homes worldwide and is featured in prestigious institutions such as MoMA in New York, the V&A in London, and Centre Pompidou in Paris.

Today, Stokke’s product portfolio includes a wide range of award-winning solutions designed to enhance daily life for children and their parents, at home and on the go. Signature products include the YOYO® stroller, Sleepi™ bed, Snoozi™ bassinet, Yoga™ bouncer and swing, Flexi Bath™, Limas™ carrier and the JetKids™ BedBox suitcase. Inspired by the early years, Stokke’s designs promote closeness and connection between parent and child.

Sustainability is a core value at Stokke. The business prioritizes the use of durable, high-quality materials to ensure its products are long-lasting, reduce waste and support a more sustainable future.

Stokke employs a talented global workforce of 387 employees across Europe, Asia and the USA. Its timeless products are sold within 95 markets across the globe, including via direct and indirect distribution. The brand is built on Scandinavian design principles, durability, safety, and child development. Since 2014, Stokke has been owned by NXMH, a Belgian investment company specializing in technology investments. NXMH itself is owned by NXC, a South Korean holding company.

Stokke operates an asset-light business model with outsourced manufacturing across 14 countries. As of 2024, it maintains business relationships with 32 tier 1 suppliers. Approximately 70% of Stokke’s suppliers have worked with the business for more than three years, reflecting long-term partnerships and mutual transparency.

Stokke is a lean, agile organization driven by the purpose of supporting parents and children by enhancing their everyday lives with innovative, beautiful and durable solutions, including timeless furniture that grows with the child and compact products ready for travel. The company sources, transports and sells a wide variety of products across many international markets, and thus the supply chains are long and often complex, including suppliers large and small. While sourcing and logistics represent a key company function, Stokke recognizes that managing the complexity of the supply chain continues to remain a significant challenge. In order to ensure responsible business conduct across the entire Stokke supply chain and mitigate any potential risks, the company has a framework that integrates governance, transparency, ethical business practices, and sustainability into every aspect of its business structure.

Stokke’s approach to preventing modern slavery is guided by the following key policies and documents:

• Responsible Business Conduct Policy (Stokke Policy for responsible business conduct: Approved by Stokke’s Board of Directors in 2022 after thorough formulation and revision, this policy reinforces the company’s expectations for responsible sourcing and ethical conduct throughout the value chain. By adhering to the Stokke Policy for Responsible Business Conduct, the company remains committed to ensuring that both customers and business partners can trust in its dedication to mitigating any adverse effects on society and the environment. The policy reflects Stokke’s company-wide commitment to ethical business practices. It is publicly accessible to all of Stokke’s employees and is highlighted during the onboarding process as well as employee training, with emphasis placed on the collective responsibility to uphold these principles across all facets of Stokke’s operations.

• Stokke Supplier Code of Conduct (Stokke Code of Conduct: Based on the United Nations (UN) and International Labor Organization (ILO) conventions, all suppliers are required to sign and comply with this Code. It explicitly prohibits child labor, forced labor, human trafficking, and any form of coercion or exploitation. The code sets forth the minimum expectations Stokke maintains for all its partners. At its core is the principle that suppliers must adhere to the legal frameworks of their respective regions and production sites. Whenever national laws align with its guidelines, Stokke consistently upholds the highest international standards. Throughout 2024, Stokke remained dedicated to refining policies and practices that support its business partners in aligning with the principles outlined in its Supplier Code of Conduct. By the end of 2024, 100 percent of the business’ primary suppliers had received and accepted its Supplier Code of Conduct.
• Anti-Corruption Policy: Embedded in both above documents, Stokke has an anti-corruption policy that prohibits any corrupt practices by employees or suppliers. In 2024, the business did not receive any reports of corruption through its whistleblowing mechanism (details below), and there were no confirmed incidents of bribery or corruption.
• Whistleblowing Mechanism: Over the last few years, Stokke has implemented an independent, third-party grievance channel aligned with the EU Whistleblower Directive, allowing anonymous reporting by employees. This external whistleblowing channel is managed by the SANDS law firm in Norway so that the company’s employees are able to report improper conduct in a timely, safe and anonymous manner. The link to the grievance mechanism is available on Stokke’s intranet for all global employees regardless of location, type of employment, or seniority. The company encourages anyone aware of potential breaches of Stokke’s responsible business framework throughout the supply chain to speak up so that any relevant incident or risk can be addressed thoroughly and swiftly. Stokke plans to introduce the whistleblowing mechanism to its suppliers’ workforce in the near future.

Stokke operates an agile, asset-light business model that enables it to maintain strategic centralization as well as operational decentralization, empowering its various supply chain partners and guaranteeing flexibility and excellence on the ground. As of year-end 2024, Stokke products are manufactured by independent contractors across 14 countries, and the company maintains business relationships with 32 tier 1 suppliers.

Stokke sources its products globally, with manufacturing concentrated in Europe (75%), China (15%), and Taiwan (10%). Key risk areas include textiles (China, Vietnam), assembly (Taiwan), and wooden components (Eastern Europe).

In line with the OECD guidelines, Stokke strives to proactively identify and assess any risks or potential adverse impact on people, society, and the environment. This evaluation encompasses not only Stokke’s supply chain but also its business relationships. The objective for the business is to effectively manage and mitigate these risks to ensure responsible and sustainable practices throughout its operations. Stokke performs risk assessments on an annual basis to identify and assess any impact within the supply chain, ensuring active monitoring and evaluation of potential adverse effects on individuals, society, and the environment.

At an overall level, Stokke has implemented systems to collect and analyze data about its suppliers and supply chain, providing a comprehensive overview. Stokke’s products and key raw materials undergo detailed risk assessments. The business has a systematic approach to assessing risks in its supply chain, which includes four parts:

1. Annual risk assessment (using the SEDEX system, based on third-party data across specific countries’ and industries’ risk factors).
2. Third-party audits (SMETA; frequency of audits depending on identified risk level).
3. Site visits and frequent follow -up (monthly to annual visits depending on the nature of collaboration).
4. Analysis of supplier self-assessment.

The 2024 annual risk assessment identified key concerns in the areas of working hours, freedom of association, wage compliance, and health and safety. Countries identified as higher-risk for Stokke’s supply chain included Romania, Bulgaria, Slovenia, China, Vietnam, and Taiwan. These risk classifications are based on SEDEX’s evaluation of 14 issue areas tied to country- and industry-specific data.

To address the risks identified through its annual assessments, Stokke places strong emphasis on supplier engagement and oversight as a cornerstone of its due diligence approach. Each supplier is evaluated and assigned a risk score, which helps prioritize the most critical issues across the supplier portfolio. This systematic evaluation enables Stokke to focus efforts where they are most needed, ensuring that risks are effectively managed.

Stokke’s commitment to responsible and ethical practices is reflected in its ongoing monitoring efforts, which aim to protect the well-being and safety of workers involved in the production of its products. Stokke views its first-tier suppliers as system suppliers, responsible for managing sub-suppliers on behalf of Stokke. Close relationships are maintained with first-tier suppliers through frequent visits and collaborative efforts to drive continuous improvement across various aspects of the business.

In 2024, Stokke conducted 12 audits with 44 non-conformities (compared to 66 in 2023), mostly related to working hours and health & safety. The risk assessment confirmed that no incidents of child labor, forced labor, or major environmental violations were identified at tier 1 suppliers. Positive progress was seen, particularly in environmental practices, while working hours and wage compliance remain areas for continued focus. Overall, Stokke’s structured due diligence approach, close supplier engagement, and targeted improvement plans are helping to proactively manage risks, strengthen responsible practices across the supply chain, and support continuous progress year over year.

Tracking the implementation and impact of the company’s actions is vital to ensuring effective due diligence. Oversight of the efforts remains with the Director of Sourcing and Production, who monitors supplier performance through continuous dialogue, audit follow-ups, and evidence-based assessments.

Key 2023–2024 progress includes:

• A significant reduction in audit findings related to overtime was recorded: 12 audits were conducted in 2024 with 44 non-conformities, compared to 66 in 2023.
• Health and safety practices are a regular agenda item during management meetings with suppliers, driving continuous focus on personal protective equipment (PPE) use and fire safety. Stokke’s ongoing commitment to strong due diligence practices across the supply chain has enabled the effective identification, prevention, and mitigation of key risks.
• A major recent achievement was preparing the Tripp Trapp® chair supply chain sourcing for FSC® certification, a milestone that underscores Stokke’s dedication to sustainability and responsible sourcing.
• The company’s efforts to measure and reduce carbon emissions have remained a core focus, particularly in addressing scope 3 emissions across the value chain. In line with its SBTi commitments, Stokke has set ambitious mid- and long-term emission reduction targets for 2030 and 2050. Building on the comprehensive climate assessment completed in 2020, Stokke continues to implement its roadmap with a strong emphasis on product manufacturing and transportation, where supplier engagement and collaboration with all business relations is essential in order to move the needle. Such efforts contributed to an overall emission reduction of 8% year-on-year achieved in 2024.

More broadly, through structured tracking and close engagement, Stokke continues to strengthen the effectiveness of it risk mitigation efforts across the supply chain in order to ensure ethical and responsible practices throughout its operations as well as all its business partners and suppliers.

To ensure a robust understanding and implementation of responsible business practices in 2024, Stokke delivered e-learning on responsible business conduct to all employees globally. In addition, sourcing teams received targeted training on interpreting third-party audit findings and identifying potential human rights risks during site visits. Stokke also engaged directly with its suppliers to ensure they were fully briefed on the company’s mechanisms, reinforcing expectations for transparency, accountability, and ethical conduct throughout the supply chain.

Stokke continuously monitors the effectiveness of its due diligence efforts to ensure meaningful progress. In 2024, the company achieved a 33% reduction in audit findings compared to the previous year, demonstrating tangible improvements in supplier compliance. All tier 1 suppliers were fully onboarded to the SEDEX platform, enhancing transparency and enabling systematic risk monitoring. No incidents related to modern slavery were reported through internal or external channels, and all non-conformities identified during the year were addressed and remediated in close collaboration with suppliers.

Looking ahead, Stokke will continue to strengthen its commitment to ethical sourcing and risk mitigation. Key priorities for 2025 include expanding FSC® traceability across its wooden product lines to ensure full supply chain transparency and sustainable forest management. Internally, the company will focus on improving planning accuracy to reduce last-minute changes that can lead to excessive overtime in production. Training and due diligence efforts will be deepened, particularly in the textile supply chain, and Stokke will begin extending its risk assessments beyond tier 1 suppliers to gain better visibility into indirect sourcing risks and drive more comprehensive improvements.

This statement was approved by the Board of Directors and the CEO of Stokke in June 2025.