Company Code of Conduct

The Armando Alvarez, S.A. Code of Conduct is the core standard of conduct that the Company wishes to have observed throughout its corporate activity. This is a standard of conduct that is usually more demanding than the standard defined by applicable legislation in the various countries where the Company operates.

It is the expression of a series of principles/values for corporate behaviour, as well as for Company executives and employees. The Corporate Code of conduct is also a written statement of the public commitment made by the Company to these principles/values.

The Code of Conduct was defined by the Governing Board/Board members as the maximum governing entity and it is a commitment of the highest level.