Code of Conduct and Compliance Declaration

Dear Sir or Madam, dear employees,

Mutual trust, predictability and honesty both internally and externally are basic principles that are firmly anchored at GARREIS. The commitment to these shared values can already be found in the corporate mission statement drawn up by the employees in 2005 and the Ethics and Environmental Declaration published in 2010. This is not only about compliance with applicable rules and laws, but also about the appropriate attitude of employees. These are essential for the sustainable success of the company. We encourage the willingness to think independently and act responsibly and at the same time requiring compliance with applicable internal rules as well as national and international laws. To make this attitude transparent to our customers, partners and employees, we have summarised our mission statement, our ethics and environmental declaration and our management principles in this GARREIS compliance declaration.

The requirements that all employees of the GARREIS company have to observe are defined here. They know the content and are responsible for adhering to the principles and rules of conduct. Our compliance declaration is borne by the members of the Garreis family. The management and executives of our companies have a role model function and bear special responsibility. With this background and in the interest of Garreis and all employees, we urge you to work every day to ensure compliance with the contents of this declaration.

Thomas Garreis

SCOPE OF APPLICATION

This compliance declaration applies to all employees of the GARREIS Group.

This declaration describes the principles of conduct for all employees. It is to be regarded as a guideline and is intended to support everyday working life in making decisions in accordance with applicable laws, rules and values at GARREIS. This serves to protect the company and thus its employees.

The provisions in this compliance declaration are mandatory. If certain country-specific conditions or different business models of the Garreis companies require further regulations, these will be supplemented after review and approval by the management.

In addition, these principles of conduct also apply when dealing with customers, suppliers, business partners and interested parties.

We expect that you too will feel bound by these rules. Compliance with the law, honesty, reliability, respect and trust are universal foundations of good cooperation.

CODE OF CONDUCT

We pay attention to the reputation of our company in our actions.

The perception of the GARREIS Group is essentially conveyed by the behaviour of the employees. Misconduct can lead to damage, disruption and even penalties which may affect the individual employee and the companies.

In our work we take care to protect and promote the reputation of GARREIS. Trustworthiness and reliability are cornerstones of our corporate culture.

We receive orders from our customers because we inspire them with solutions and service. We negotiate with our suppliers in a spirit of partnership and consistently and fairly. Contracts and agreements are honoured.

We always comply with applicable laws and internal regulations

As a company, we are part of the global society in which we operate. We are subject to their rules and laws. It is part of our self-image that we, as employees of the GARREIS Group, comply with the applicable laws and regulations in every country and in every situation. The same applies to internal instructions and guidelines.

Legal action requires knowledge of the relevant national laws and regulations. It is the responsibility of the employees to independently find out about the laws and regulations necessary for their work.

Regardless of this, it is the responsibility of the managerial staff to inform their employees about relevant laws and regulations and to ensure compliance with them.

Compliance with laws, rules and guidelines has priority at all times.

We work responsibly and with mutual respect.

The corporate culture at GARREIS is characterised by mutual respect and respectful interaction with each other. This applies in cooperation with customers, suppliers and business partners as well as in cooperation with each other.

By providing regular information we want to inspire our employees with enthusiasm for our corporate objectives, motivate them and strengthen their sense of belonging to the company, to our vision, strategy and aims.

At GARREIS we maintain a cooperative management style. We entrust our employees with responsibility and information for their work. Our managerial staff make decisions transparent and understandable by providing additional information.

We grant personal responsibility and freedom of action as often as possible.

We respect human rights and human dignity.

We respect and protect the dignity of each individual person, their privacy and personal rights. We see every person with his or her experiences and cultural differences as an enrichment for our company.

We do not allow any discrimination on the basis of ethnic origin, religion, age, disability, sexual identity or gender. Furthermore, we do not tolerate violence, intimidation, bullying or sexual harassment at work.

Decisions are made solely on the basis of appropriate considerations. We adhere to the ‚Universal Declaration of Human Rights‘.
We reject any form of forced and child labour.

We handle the property of companies and interested parties responsibly.

The facilities, equipment, business documents and data made available to us for the performance of our tasks are the property of the GARREIS Group or its customers, suppliers and business partners. We handle these responsibly and carefully and use them only for a specific purpose.

Neither negligent nor intentional acts against the company‘s own or third-party property will be tolerated.

We provide jobs that comply with legal requirements and current standards

The health of our employees is important to us. Protecting them and preventing hazards is our top priority. We want to offer our employees a modern, safe working environment. We therefore ensure that regulations, laws and standards on occupational safety and health are complied with.

We consider it our duty to comply with existing legal and internal regulations on working hours, breaks and recreation times.

We protect the environment through responsible action.

Our earth‘s resources are limited. That is why we strive to use them in an ecologically sensible way. This not only means that we comply with existing laws on environmental protection and sustainability,
but also avoid wasting resources where this is economically feasible and possible.

Every employee is asked to implement sensible measures to conserve resources and protect the environment.

We strictly reject corruption and bribery

Corruption and bribery damage free competition and prevent innovation. As a result, society and companies lose prosperity and reputation.

GARREIS does not tolerate any form of corruption or bribery. Neither offering and granting nor demanding and accepting inappropriate benefits is permitted.

We refuse to pay bribes to obtain orders or to speed up administrative processes and we observe the guidelines for accepting and granting benefits from customers, suppliers and business partners.

These principles apply not only to all employees, but also to other people and organisations who act on behalf of or in the interest of the GARREIS Group

We are committed to free and performance-oriented competition.

The GARREIS Group is committed to a free and social market economy. This means that we do not engage in cartels or other unfair or anti-competitive practices.

We enter into agreements with market participants to the extent permitted by law.

We also do not participate in the exchange of competition-relevant or internal, sensitive information and do not circulate any rumours.

We urge our employees to always act with prudence, caution and responsibility when dealing with competitors.

Should a competitor try to induce an employee of the GARREIS Group to engage in unauthorized agreements, the latter must refuse this and immediately inform his or her executive officer or a responsible body.

We do not participate in money laundering or terrorist financing.

We strictly reject the concealment of the origin of funds from illegal sources such as terrorism, drug trafficking, bribery etc.
We only want business relationships with reputable partners who obtain their funding from legal sources and we do not participate in the financing of illegal activities. We comply with applicable laws against money laundering and terrorist financing.

Legal requirements are complied with and we cooperate with the responsible state authorities. Our employees are requested to report suspected cases.

We follow all applicable export control and customs laws.

In international trade of our goods and services, we observe export bans, sanctions and embargoes. The export processes are followed by our employees. If we have any questions or are unsure, we contact the responsible authorities.

Information and technology are also affected by the restrictions. These may not be passed on without permission. Violations may result in damages to the GARREIS Group.

All employees are called upon to act cautiously and not to disclose information without permission. In cases of doubt, our employees can and should contact their executive officer or the responsible office in the company.

AVOIDANCE OF CONFLICTS OF INTEREST

We do not compete with GARREIS companies.

An employee of the GAREIS company may not work for a company that competes with GARREIS companies and / or acquire respectively participate in such a company.

In particular, we avoid conflicts between private and business interests.

Regular sideline activities of employees must not conflict with the interests of GARREIS and are only permitted with the prior consent of the management.

We are pleased about the voluntary commitment of our employees in society and support this as far as possible.

HANDLING KNOWLEDGE AND INFORMATION

We do not take advantage of our internal knowledge for our own benefit or that of third parties.

We often have knowledge about GARREIS companies or their customers, suppliers and business partners, which is not known to outsiders and therefore not publicly available. Such inside information can be valuable as it can influence developments and decisions in the market.

Therefore it is prohibited to disclose this knowledge to others inside or outside the companies with or without taking advantage of it, or using inside information to acquire or sell securities etc., or to recommend their purchase or sale to third parties.

We handle data responsibly.

Confidential information of the company and its customers, suppliers and business partners must always be kept secret. They must not be passed on to unauthorized persons and must be protected from access.

Such confidential information includes, for example, business and internal reports, presentations, communications, product and market information as well as instructions or business and trade secrets.

Only the responsible and authorized body of the GARREIS Group communicates to and with external bodies (e.g. management, executives, human resources department or commissioned consultants such as legal, tax and management consultants).

The obligation to maintain the confidentiality of information also applies beyond the duration of employment and contractual relationships.

We all adhere to data protection and data security.

We treat personal and business data carefully and ensure that privacy and personal rights - taking into account the applicable data protection laws - are protected in our business processes.

The preparation of records, files, etc., for which confidential information of the company is used, is only permitted if it is in the interest of GARREIS and the rights of third parties are taken into account.

The protection of our data and the prevention of data misuse have priority. In terms of technical protection against unauthorized access, the standards that correspond to the current state of technology must be observed.

We make our contribution to responsible digitization.

Sustainably shaping the digital transformation of our society and economy is our ambition and guides our actions - in the interests of our customers, partners and employees.

With digital technologies, we drive the development of our companies without unconditionally implementing everything that is technically possible.This is how we contribute to the responsible handling of digitization and the use of artificial intelligence (AI).

We are committed to giving everyone access to technological advances as they arise. In doing so, we aim to ensure that the personal data remains with the respective person and that this person is able to determine and shape his or her digital life.

IMPLEMENTATION OF THE COMPLIANCE DECLARATION

Employees of the GARREIS Group make decisions.

In specific situations in everyday working life, we often have to make decisions that are not clearly described by the compliance declaration, other GARREIS guidelines or applicable laws.

We make conscientious decisions. In doing so, we are guided by our common sense and our sense of values, decency and integrity.

If we are unsure about a decision, we do not continue to act, but consult with our executives or the management.

Management and executives serve as role models.

Management and executives lead through exemplary behaviour, friendly support and constructive suggestions rather than bei rigid orders. They are available to their employees in case of ambiguities and questions, and they help them to fulfill their tasks and duties.

Instructions are made transparent and understandable through additional information.

The conduct of the managers and the close contact with their departments support the motivation of the employees.

Every manager must emphasize the importance of ethical behaviour and compliance with laws and guidelines, address them and promote them through their management style and regular training.

Management and executives are also available as trustworthy contacts to whom employees can turn in the event of professional or personal concerns.

However, the responsibility of the manager does not release the employees from their own responsibility.

CONTACT PERSON IN THE GARREIS GROUP

We call on all employees not to allow misconduct.

If there is a reasonable suspicion that someone is violating our compliance declaration, applicable law or binding rules, we will notify and act accordingly.

We can only react appropriately if we deal openly with possible violations. This helps us to avert damage from GARREIS, our employees as well as our customers, suppliers and business partners.

The doors of the business and division management are open to everyone.

The first point of contact is the head of division. Employees can also approach the management directly at any time. The respective HR department is also a suitable partner for HR issues. Information is handled in strict confidence. The whistleblower suffers no disadvantage.

As management we do not tolerate any violations of the compliance declaration

Violations can lead to serious disadvantages for the GARREIS Group. Therefore we do not tolerate any disregard of the law, the compliance declaration or internal guidelines.

Depending on the severity of the violation, misconduct can result in consequences under labour legislation, civil rights or criminal law for the persons concerned.

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