Rhenoflex attaches great importance to its economic, ecological and social responsibility towards employees and shareholders, customers and suppliers, society in general and all other stakeholders. As one of the leading companies in its field Rhenoflex has developed and deepened its awareness of the importance of an entrepreneurial sense of responsibility. It has led us to substantially increase our participation in activities in the field of the environment, social matters, and public welfare and to an internal self-commitment which guides us through our day-to-day life. This self-commitment starts with the managing director of Rhenoflex and its management and goes all the way through all levels of our organization.

Code of Conduct
In day-to-day business operations the employees of Rhenoflex are guided by the ethical guidelines of this code of conduct. These guidelines include in particular:

•  Fairness in business: We carry out all business operations in an honest and fair manner.
• Responsibility: We assume full responsibility for our activity and performance.
• Expertise and continuous improvement: We are always aiming at being best - in- class. We encourage everyone who works for us to make an outstanding contribution, to deliver highest quality, and to surpass himself or herself time and again. We expect from ourselves and from others to remain open to constructive criticism and to suggestions for improvement.
• Respect towards others: We treat everybody with dignity and respect, we appreciate different opinions and diversity in general, we look after our fellow human beings, and the work-life balance.
• Commitment to occupational safety: We are committed to protecting the health and safety of all people who work for us or are part of our community.
• Commitment to the environment: We conduct business in a respectful way and show consideration for our immediate as well as the global environment.

Based on these guidelines and governed by the multitude of different global laws, regulations, standards and commonly used practices the following principles shall be the foundation on which Rhenoflex is operating. They are at the same time the essential values determining our day-to-day business operations as well as the conduct of all Rhenoflex employees worldwide.

Legal Rules and Requlations
One of the Rhenoflex principles is the strictest adherence to all applicable laws, regulations, statutes, contracts, and standards wherever in the world we are operating.

• Human Rights and Labor Law: Rhenoflex venerates and observes internationally accepted human rights, complies with all labor laws and acknowledges all employees' rights of the countries in which we are operating. Rhenoflex maintains the following principles:
• Freedom of Association: Rhenoflex employees are free to organize themselves or to join trade union groups in order to jointly enter into collective-bargaining negotiations. Rhenoflex is practicing open communication with its employees.
•  Forced Labor: Rhenoflex does not avail itself of forced labor of any kind whatsoever. Rhenoflex forbids the use of physical or psychological violence or economic means of pressure to force people to work or to maintain an employment relationship.
• Child Labor: Rhenoflex observes the minimum age for work contracts as set by national laws in the countries in which we are operating.
• Discrimination and harassment: Rhenoflex employees are treated with respect and dignity. Rhenoflex does not tolerate discrimination or harassment of any kind against any person in particular on grounds of religion, nationality, race, ethnic origin, gender, sexual orientation, age, or a handicap. Rhenoflex supports equal opportunities for employees and job applicants.
• Remuneration and Working Time: Rhenoflex folows at least the local policies with regard to wages and salaries, social benefits, working hours, overtime, sickness benefit and vacation allowance. Rhenoflex pays fair wages and salaries to its employees and acknowledges the right of the individual to a private life. Rhenoflex commits to perform producing activities only in Rhenoflex authorized working conditions and environments.
• Lawful Employment: Rhenoflex only employs persons with valid documents and a work permit for the country concerned.
•  Health and Safety: Rhenoflex strictly adheres to the health and safety standards and regulations valid for the various occupational activities as well as to the local laws and international standards. Rhenoflex invests into further training of its employees and also with a view on enhancing health protection and safety measures not only in order to fulfil all the industrial norms and local standards but also in order to take preventive care of both the employees and the adjacent communities to protect them from potentially hazardous substances and processes at all locations.

Environmental Protection
Rhenoflex is committed to sustainability of its operations as well as to the environment, in particular to responsible use of natural resources, reduction of the environmental footprint, waste avoidance, and the principles of responsible conduct in terms of the life cycle of its products. Furthermore, we endeavor to use the best possible, state-of-the-art technologies available to the extent it is technically and economically justifiable. In areas where no general guidelines have been formulated yet we will apply our own standards on a voluntary basis.

Business Conduct
Rhenoflex conducts business in compliance with the highest standards of integrity. Rhenoflex does not avail itself of any illegal methods of gaining or keeping customers, suppliers, business dealings, permissions, licenses, or certifications. Rhenoflex will neither use nor tolerate bribery, corruption, fraud or any other unethical business method.

• Integrity of Accounting: Our books are kept according to the locally valid regulations, international law and the Generally Accepted Accounting Principles (GAAP).
• Anti-bribery and Anti-corruption: Rhenoflex respects the relationships with government authorities and offices and complies with all laws, regulations and applicable standards. Rhenoflex will not tolerate any dishonest influencing of decision makers and this includes direct and indirect bribery, or any other form of illegal activity.
• Antitrust and Competition: Rhenoflex commits itself to ethical, fair and brisk competition. Rhenoflex follows the antitrust regulations and the rules against unfair competition. It does not accept any unlawful conduct or unlawful agreements with customers, suppliers, competitors or others. In this context in particular price rigging, anti-competitive market sharing, sham bids and refusals to deal are regarded as strictly forbidden.

Ludwigshafen, March 15th, 2021.
This letter has been typed and is valid without signature.