Corporate Governance

Arise Windpower AB (publ) is a Swedish limited company.

In order to achieve its plans for expansion, Arise Windpower intends, at a time deemed to be suitable by the Board of Directors, to ap ply to list its shares on the NASDAQ OMX Nordic Exchange in Stockholm or an equivalent market. Arise Windpower is therefore not yet under any obligation to follow the Swedish Code of Corporate Governance (“the Code”), but has nevertheless started to make adaptations in accordance with the Code during the year. The corporate governance of Arise Windpower currently follows the Code in a number of respects, and is thus based on principles which comply with legislation, listing agreements, guidelines and good practice. This corporate governance report has been drawn up primarily in accordance with the provisions of the Code and relates to the 2008 financial year. The report has not been reviewed by the company’s auditor.