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Listed below we are presenting the General Principles on which are based all the activities and practices of Fiocchi Munizioni S.p.A. (from now on also “Fiocchi” or “Company”). These principles are extracted from the Code of Conduct of Fiocchi Munizioni which expresses commitments and ethical responsibilities in conducting business and activities undertaken by directors, managers, employees and collaborators. The Code of Conduct was approved by a resolution of the Board of Directors on May 10, 2011.


The fundamental principles and values, shared and recognized by Fiocchi are:

1 Legality

Fiocchi recognizes the compliance with the applicable laws and regulations as a fundamental principle. The stakeholders, performing their functions and carrying out their respective activities, are required to comply with all the rules of the legal systems in which they operate.

2 Integrity and impartiality

Fiocchi behaves in a way which conform on moral integrity, transparency and values of honesty, correctness and good faith. Fiocchi stigmatizes any form of discrimination based on sexual orientation, race, national and social origin, language, religion, political opinions, age, health, relations with political parties and labor unions, save as otherwise provided by the legislation in force.


3 Confidence

Fiocchi believes that it is possible to set up effective business relationships, both inside the Company and outside, only if a deep confidence is established between the parties.

4 Sharing

Fiocchi tries playing in full its role in stimulating sharing of information, knowledge, experience and professional skills, both inside the Company and, where appropriate,


5 Team working

Teamworking and sense of common objectives pervade all the Company's activities in the belief that Fiocchi's success depends on the staff work carried out at any level of the company organization, always respecting hierarchical directives and with a spirit of collaboration able to create new value for the Company.

6 Transparency and completeness of information

Without prejudice to the legitimate needs of confidentiality, Fiocchi is inspired by the principle of transparency and completeness of information while performing its institutional activities, in managing the financial resources used to carry out its business and consequently in reporting and/or bookkeeping, as well as - more generally, in

preparing the documents intended to be released outside the Company.

7 Responsibility towards the community

Fiocchi, in carrying out his activities, assumes its responsibilities towards the community, taking its inspiration from the values of solidarity and dialogue with the stakeholders. Fiocchi maintains and develops a relationship of trust and a continuous dialogue with the stakeholders, seeking, where possible, to get them informed and involved in the issues that concern them.

As part of its business, the Company is also inspired by the principle of protecting and safeguarding both environment and public health.

Finally, Fiocchi promotes the social, economic and occupational development, respecting standards and rights internationally recognized which concern the protection of fundamental rights, non-discrimination, child protection, prohibition of forced labour, protection of trade unions rights, health and safety at work, working time and


8 Staff policy

Fiocchi aims to create a serene working environment in which everyone can work

respecting laws, shared principles and ethical values.

Fiocchi ensures the confidentiality of information (also) towards employees and


Fiocchi is committed to take all necessary measures to ensure the best possible

protection of health and safety in the workplace.

Fiocchi ensures that its employees and collaborators are behaving and be treated with dignity and respect of the laws and related amendments provided by our legal system, as well as the applicable employment contracts.

Fiocchi does not tolerate any form of isolation, exploitation or harassment for any cause of discrimination, for personal or business reasons, by any employee or collaborator towards another employee or collaborator.

Fiocchi also prohibits any disciplinary sanction against employees or collaborators who have legitimately refused a work performance unduly requested by any person linked to the Company.

Sexual harassment of any kind is severely punished, even with the termination of work or

collaboration relationship.

The Company is contrary to any type of discrimination based on the diversity of race,

language, colour, faith and religion, political opinion and affiliation, nationality, ethnicity, age, sex and sexual orientation, status marital, invalidity and physical appearance, economic and social condition including to grant any privilege linked to the same reasons.

Fiocchi is against the "work of the books", child and underage work, as well as any other conduct that can be considered as unlawful against the individual. Each working and collaboration relationship is established with a regular contract signed by the parties. All employees and collaborators are correctly and fully informed on rights, duties and

obligations arising from the stipulation of the contract.

Fiocchi also promotes culture among its employees and enhances and supports their

know-how and training.

Fiocchi makes available to all employees the appropriate educational opportunities, trying to develop and grow the specific skills of each one.