Code of Ethical Conduct

Since its foundation, Ligo Electric SA (hereinafter Ligo) has adopted business practices governed by integrity, honesty, fairness and compliance with all applicable laws. Ligo employees have always upheld and shared this commitment in their daily activities and Ligo's reputation remains one of the company's main assets to this day.

Ligo respects this Code of Ethics and Conduct and requires the same from its suppliers.

Freedom of association and right to collective bargaining

Ligo and its suppliers:

• respect the right of workers to form trade unions in a free and democratic manner;

• do not discriminate against workers as a result of trade union membership

• respect workers' right to collective bargaining.

Suppliers do not prevent workers' representatives from contacting or interacting with them.

If suppliers operate in countries where trade union activity is not legal or free and democratic trade union activity is not permitted, they shall take this principle into account by allowing workers to freely choose their representatives with whom the company may have dialogue on workplace issues.

No discrimination

Ligo and its suppliers shall not discriminate, exclude or give preference to any person on the basis of gender, age, religion, race, caste, birth, social class, disability, ethnic and national origin, nationality, membership of workers' organizations, including trade unions, political affiliation or opinion, sexual orientation, family responsibility, marital status or any other condition from which discrimination may arise. In particular, workers must not be exposed to harassment or disciplinary actions as a result of the above reasons.

Adequate Remuneration

Ligo and its suppliers shall respect the right of workers to adequate remuneration sufficient to enable them and their families to live in dignity, and shall provide the social benefits guaranteed by law.

Ligo and its suppliers shall pay at least the minimum wage stipulated by law.

Wages must be paid on time, regularly and in their entirety by legal means of payment. Wages amount must reflect the worker's qualifications and level of training, with reference to regular working hours.

Deductions are only permitted under the conditions laid down in individual contracts and any collective agreements in accordance with the applicable law.

Reasonable working hours

Ligo and its suppliers ensure that workers do not work more than 45 regular hours per week. However, exceptions are recognized in the applicable laws (in Switzerland, in the Swiss Code of Obligations). Applicable legal provisions of individual states, industry benchmark standards or collective agreements are to be interpreted in the context of international framework conditions.

The use of additional hours must remain an exception and work must be performed on a voluntary basis. The probability of occupational hazards must not be significantly higher than for normal working hours. In addition, suppliers shall guarantee their workers the right to daily rest and the right to have at least two days, subject to exceptions available under the Labour Law to which each supplier is subject according to its country.

Protection of workers

Ligo and its suppliers comply with worker protection provisions or, where national provisions are insufficient or deficient, with international standards.

Ligo and its suppliers promote the right of workers and local communities to healthy working and living conditions. Young workers, young mothers and pregnant women as well as disabled persons enjoy special protection.

Active collaboration between company management and workers or their representatives is essential to implement systems that ensure a safe and healthy working environment. This can be achieved by setting up committees responsible for worker protection.

Ligo and its suppliers ensure that systems are in place to detect, assess, avoid and deal with hazards to workers' health and safety. They take effective measures to prevent potential accidents, injuries or illnesses of employees in connection with or occurring during the performance of work. As far as possible, these measures shall mitigate hazards related to the working environment.

Ligo and its suppliers insure employees in the event of accidents in accordance with the applicable legal provisions.

Within their own sphere of influence, suppliers shall take all appropriate measures to ensure the stability, safety and protection against any foreseeable emergencies of the facilities and buildings they use, including workers' housing facilities, if these are provided by the employer. Ligo and its suppliers shall respect the right of personnel to leave the company area without the company's permission in the event of imminent serious risks.

Ligo and its suppliers shall provide medical care in the workplace and the necessary facilities.

Ligo and its suppliers provide access to clean drinking water, safe and clean canteens and rest areas, and safe and clean storage facilities for foodstuffs. In addition, Ligo and its suppliers make effective personal protective equipment (PPE) available to all workers free of charge and at all times.

Prohibition of child labour

The direct or indirect employment, under any circumstances and in any form, of workers who have not attained the minimum age for compulsory schooling, i.e. 16 years, is prohibited. Suppliers who exploit such conduct committed by their sub-contractors risk charges of complicity.

Special protection of young workers

Ligo and its suppliers shall ensure that young people do not have to work at night and that they are protected from working conditions that may prejudice their health, safety, ethic and development. They also ensure that the type of activity does not adversely affect their health or development and that their working hours do not jeopardise their participation in vocational training programmes recognised by the competent body, or their success at school.

Ligo and its suppliers shall establish the necessary mechanisms for preventing, determining and containing harm to young workers.

Prohibition of precarious employment

Ligo and its suppliers guarantee that their conditions of employment do not entail either insecurity or social or economic dangers for their workers. Employment shall be carried out on the basis of a recognised and documented employment relationship, established in accordance with national regulations, customs or practices as well as international labour standards that, as the case may be, offer the greatest possible protection.

Before the start of the employment relationship, suppliers shall provide workers with clear information on rights, duties and working conditions, including working hours, remuneration and payment terms.

Ligo and its suppliers shall endeavor to offer decent working conditions that support workers, regardless of gender, including in their role as parents or child careers.

Ligo and its suppliers shall not exploit labour relations and in particular

• training programs that do not have as their purpose the transfer of qualifications or regular employment

• seasonal or occasional work

• piecework contracts

• subcontracting contracts

for the sole purpose of circumventing worker protection provisions.

Prohibition of forced labor

Ligo and its suppliers shall not use any form of slavery, forced or compulsory labor, servitude, human trafficking or involuntary labor.

If suppliers take advantage of these forms of labor applied by their sub-suppliers, they risk charges of complicity.

In the direct and indirect use of migrant workers, suppliers must proceed with particular caution.

Ligo and its suppliers grant their workers the right to leave the workplace and to terminate their employment

on condition that they give their employer reasonable notice.

Ligo and its suppliers shall ensure that workers are not exposed to inhuman or degrading treatment, corporal punishment, physical or psychological violence and/or insults.

All disciplinary measures shall be set out in writing and explained to workers orally in clear and comprehensible terms.

Environmental protection

Ligo and its suppliers take all necessary measures to avoid environmental damage.

Ligo and its suppliers undertake to monitor the effects of their operations and to establish guidelines and appropriate measures to reduce overall negative effects on the community, natural resources and the environment.

Ethical trading

Ligo and its suppliers do not engage in extortion or embezzlement, or any form of corruption, including the promise, offer or guarantee of a financial or other unfair inducement.

Suppliers are expected to provide correct information about their business in accordance with fair industry benchmarking practices.

Ligo and its suppliers must not participate in the falsification of this information, nor in any deception in the supply chain.

Furthermore, they must collect, use and process personal data (including data of workers, suppliers, customers and consumers within their sphere of influence) with appropriate accuracy. The collection, use and processing of personal data must be done in accordance with legal provisions and requirements concerning data protection and information security.