The arms industry is in an expansion phase and is becoming more debated as the world situation and society have changed during the current international conflicts. Companies operating in this controversial industry therefore place great importance on legitimizing their activities to their stakeholders. In order to legitimize their activities towards stakeholders, companies use different strategies with the aim of justifying their activities, where minimizing or reducing negative information is in the interest of the companies. 

The study examines the legitimization strategies used in the sustainability reports of two companies with significant market shares in arms exports in Europe and the stakeholders involved. The results of the research showed that the studied companies make extensive use of legitimization strategies in their sustainability reports when disclosing negative information. Corrective action is the strategy that was significantly used most in the sustainability reports for the years 2019, 2021 and 2023 for both companies. Sustainability reports are also permeated by stakeholders such as partners and other organizations, where these stakeholders can be used as a kind of tool for companies to achieve legitimacy. When comparing companies' stakeholders and legitimization strategies, it is possible to see clear similarities in the choice of strategy, and the companies studied are keen to highlight innovations and developments in response to negative consequences to which their activities contribute.