The Code of Ethics of the Angelini Group

Second part

Ethical principles

We translate ethical principles into practice through their constant application in the conduct of business activities.

This set of ethical principles guides the activities of everyone working in or with the Group, with due regard to the importance of their roles, the complexity of their functions and the responsibilities entrusted to each individual in order to achieve the Group’s objectives.

Ethical conduct is not simply about determining what is legal in any given situation. It is also about acting morally and responsibly in our business affairs while never compromising on our founding principles.

The ethical principles we adopt and promote shape the corporate culture as well as the conduct of the Recipients and the ways in which they operate.

The relationships that we build with stakeholders are predicated on honesty and fairness, in both internal and external relationships.

Furthering the interests of the Group, or one of the Companies belonging to it, can never justify conduct which goes against the principles of honesty and fairness.

Equity is the principle on which trustworthy and impartial conduct is built. It describes the ability to maintain a constant balance between different interests: the specific and the general, those of the individual and those of the company, those of all shareholders and those of specific Stakeholders.

We are committed to impartiality, guaranteeing equal opportunities for all in terms of employment and access, and giving equal consideration to their abilities and merits.

In carrying out our activities, we act in compliance with the laws and all applicable regulations in the territories where we operate, as well as dutifully observing our Code of Ethics and corporate procedures.

The principle of legality is paramount, and all those who enter into relationships with the Group are subject to it.

Under no circumstances is the violation of this principle permitted and justifiable to achieve a personal gain or an advantage for the Group.

We promote clear, transparent and complete communication at all levels. We consider this, moreover, a crucial factor in enabling Stakeholders to make independent and informed decisions, without favouring any interest group or single individual.
We are committed to taking all necessary measures to prevent and avoid occurrences of corruption.

Corruption is not allowed as a means of conducting business. We forbid, under all circumstances bribing or attempting to bribe elected public office holders, public officials, public service providers or private citizens.

Specifically, none of usmay offer, promise or transfer money or other benefits for the purposes of improperly accelerating, favouring or facilitating the progress of an activity.

Moreover, it is not permitted to seek money or other benefits in return for the performance of undue services, nor is it permitted to accept sums of money, gifts or favours from third parties for the purposes of obtaining a direct or indirect advantage for our Group.

Our Group would not exist without the people within it.

We aspire to protect and nurture the value of our human resources, and are committed to promoting respect for the physical, moral and cultural integrity of the individual and to increasing their skill base.

We respect and protect the dignity, equality and freedom of human beings, the cultural and physical integrity of people, their opinions and, at the same time, their differences.

We recognise diversity as an asset to be treasured and a resource to be drawn upon to establish and fruitfully pursue corporate objectives.

We will not stand for any discrimination, whether direct or indirect, on the basis of age, gender, sexual orientation, gender identity, state of health, race or ethnic origin, nationality, religious beliefs, or political opinions of our associates. We protect the vulnerable, offering support to those who find themselves in difficult social or economic circumstances or who experience difficulties with their physical or mental health.