Code of Conduct and Citizenship IAVF Antriebstechnik

Preface

IAVF Antriebstechnik GmbH recognises its social responsibilities. We face the challenges of an increasingly networked and global economy, guided by our awareness of our responsibility for social, ecological, and economic concerns. Our Code of Conduct is based on our corporate values like quality, performance and teamwork, and sets clear standards for integrity and business practices. We want to live these standards within our company and with our contractual partners and suppliers. Conscientious handling issues like independence, trust, risk management, respect and corporate citizenship is highly important to IAVF.

We advocate for treating all people with respect, tolerance, trust, openness, appreciation, and fairness. Our company guarantees equal opportunity for all. Discrimination on the basis of ethnic origin, religion, age, gender, sexual orientation and disability have no place within our company. We do not tolerate harassment or bullying. We base our work on internationally recognised principles for the protection of human and labour rights, and on relevant international environmental protection agreements.

I. Compliance with laws and regulations

We comply with the laws and regulations of the countries in which we conduct business. We apply the principles of this Code of Conduct in our work, and encourage our business partners to do the same.

II. Respect for human rights

Protecting human rights is required in the countries in which we operate. Through our activities, we avoid infringing on the human rights of others, and commit to counteracting negative impacts on human rights in which we are involved.

III. Ethical business practices and integrity

We follow legal business practices and respect fair competition principles, third party industrial property rights and anti-trust and competition law regulations. We reject all forms of corruption and bribery, and promote principles of responsible corporate leadership like transparency, accountability, responsibility, openness and integrity. Business partners must be treated fairly. Contracts must be complied with unless framework conditions change fundamentally. General ethical values and principles must be respected; this applies in particular to human dignity and internationally recognised human rights.

IV. Contributions to society

We understand our company as part of the society in which we work. Through our corporate actions, we contribute to society’s well-being, promotion, and sustainable development. We take direct and indirect impacts of our business activities on society and the environment into account, and work to balance all of these interests appropriately in economic, social, and ecological terms.

V. Labour laws and working conditions

We observe applicable labour standards and create a safe and human working environment.

VI. Freedom of assembly and collective negotiations

We respect the rights of employers and employees to form organisations of their own choosing and without prior approval to promote the interests of the employees or employer, and to join such organisations and freely elect their own representatives. We respect the rights of employers and employees to engage in collective bargaining negotiations regarding wages and working conditions. Employees may not suffer any disadvantage due to their membership in employee organisations related to their work. We respect the right of our employees to submit complaints without suffering disadvantages of any kind; these complaints are handled through a suitable process.

VII. Prohibition against forced labour

We do not accept any commercial activity carried out on the basis of forced work or compulsory labour, debt bondage or servitude. This includes any kind of work or service performed by an individual under the threat of punishment and which is not performed voluntarily.

VIII. Prohibition against child labour and protection for young employees

We work towards the effective elimination of child labour. We observe the statutory minimum age for permitting employees to work, which may not be less than the age at which compulsory schooling ends, and may not be less than 15 according to the provisions of the International Labour Organisation. Suitable mechanisms are used during the hiring process to determine employees’ ages and prevent child labour. We only hire young people from 16 years of age if the type or circumstances of work they perform does not endanger their life, health or decency, and if they have received appropriate training for the task or professional education in the relevant industry.

IX. Prohibition against discrimination in career and employment

We do not engage in any form of discrimination, exclusion or preferential treatment based on ethnic origin, skin colour, gender, religion, political opinion, nationality or social background which would interfere with or prevent equal opportunity or equal treatment in employment or career. In addition, we respect the principle of equal pay for equal work performed by male and female employees.

X. Wages

Wages specified by the state or by collective bargaining agreements must be fulfilled. Wages are paid out regularly in a reasonable manner to employees and are not withheld. Deductions from wages are permitted only in accordance with the law or collective bargaining agreements and must be indicated. Employees are informed regularly regarding the components of their wages.

XI. Employment relationships

The regulations of national labour law must be observed. Employees must be provided with easy to understand information on significant working conditions, including work hours, compensation, and payment and billing options. Employees have the right to end their employment relationships by observing applicable notice periods.

XII. Health and safety in the workplace

We are obligated to take reasonable measures to ensure the health and safety of the workplace in accordance with national requirements, in order to avoid work accidents in your work and protect the health of our employees. Valid local regulations on occupational protection, health and safety in the workplace, as well as building safety and fire protection have been observed, to reduce the risk of accidents and work-related illnesses to a minimum. Whenever necessary and reasonable, employees are provided with appropriate personal protective equipment (PPE). In immediately hazardous situations, employees have the right and the obligation to leave their work stations immediately and without requiring permission to do so. Persons requiring assistance, such as young employees, new mothers and pregnant women as well as people with disabilities receive special protection.

XIII. Humane treatment

We treat our employees with dignity and respect. We do not engage in any form of disrespectful treatment, abuse, harassment or intimidation, or illegal punishment of employees. Disciplinary measures are recorded in writing and in a manner which is understandable for the employee.

XIV. Environmental protection

We fulfil applicable laws, regulations, and administrative practices to protect humans and the environment in the countries in which we work. We carry out our business activities in a manner that contributes to the general goal of sustainable development. We have introduced an environmental management system for this purpose which allows us to review our operating activities for harmful environmental impacts. We work to consistently improve our environmental results over the long-term by promoting the introduction of suitable technologies and production processes to facilitate the efficient use of natural resources and energy, minimising emissions and thus improving air quality. These efforts include the economical use of raw materials, recycling, reuse and conservation of water and energy.

We strive to evaluate the chemicals we use, and try to select them in consideration of environmental, labour and consumer protection aspects, then replace the most detrimental chemicals. Professionally disposing of waste is important in attaining a closed-loop economy. Chemicals and other substances posing a hazard when released into the environment must be identified and handled, transported, stored, reprocessed or reused and disposed of safely by appropriate means.

XV. Implementation and enforcement

This Code of Conduct formulates minimum standards for our employees, contractual partners and suppliers. We communicate the contents of the Code of Conduct to employees, contractual partners, suppliers and third parties. We observe this Code of Conduct in our own actions, and encourage our business partners to apply it whenever possible. To achieve good corporate governance, we anchor the principles of responsible corporate management in the Code of Conduct in our strategic and operational management system.

IAVF Antriebstechnik GmbH