CODE OF ETHICSMISSONI GROUP

Complete version approved by the Board of Directors meeting on 22 June 2020
Revision no. 01

Approved by BoD

28.09.2022

Revision no. 02

Approved by BoD

15.06.2023

1. INTRODUCTION ....................................................................................... 4
2. MISSION AND ETHICAL VISION ......................................................... 4
3. THE CODE OF ETHICS ........................................................................... 4
4. SCOPE OF APPLICATION OF THE CODE ......................................... 5
5. GENERAL PRINCIPLES .......................................................................... 5
5.1 Compliance with the Law ......................................................................... 5
5.2 Honesty and fairness ................................................................................. 5
5.3 Centrality of the person ............................................................................ 5
5.4 Impartiality and equal opportunities ...................................................... 6
5.5 Transparency and completeness of information .................................... 6
5.6 Trust and collaboration ............................................................................ 6
5.7 Protection of Made in Italy products....................................................... 7
6. PRINCIPLES OF MANAGING BUSINESS ............................................ 7
6.1 Confidentiality of information ................................................................. 7
6.2 Protection of company secrets and of intellectual and industrial
property rights ................................................................................................. 7
6.3 Prevention of any conflict of interest ....................................................... 9
6.4 Protection and personal use of the company's assets ........................... 10
6.5 Customers................................................................................................. 10
6.6 Suppliers ................................................................................................... 10
6.7 Gifts, gratuities and other benefits ........................................................ 11
6.8 Fair competition ...................................................................................... 11
6.9 Sustainability ........................................................................................... 11
6.10 Repudiation of ill treatment of animals............................................... 12
6.11 Protection of cultural heritage ............................................................. 122

6.12 Anti-Money Laundering ....................................................................... 12
7. MANAGEMENT OF PERSONNEL ....................................................... 13
7.1 Human Resources .................................................................................... 13
7.2 Safeguarding health and safety in the workplace................................. 13
7.3 Sexual harassment ................................................................................... 15
7.4 Alcohol and drug abuse .......................................................................... 15
7.5 Respect for differences ............................................................................ 15
7.6 Employment of foreign workers and child labour ............................... 15
8. EXTERNAL RELATIONS ...................................................................... 16
8.1 Relations with the Public Administration ............................................. 16
8.2 Information entities ................................................................................. 16
8.3 Relations with Political Parties, Trade Unions and Associations ....... 16
8.4 Protection of personal data..................................................................... 17
9. ACCOUNTING MANAGEMENT AND CORPORATE
GOVERNANCE ............................................................................................ 17
9.1 Accounting records.................................................................................. 17
9.2 Corporate Governance............................................................................ 18
10. WHISTLEBLOWING ............................................................................ 19
11. SANCTIONS............................................................................................ 19
12. DISSEMINATION OF AND TRAINING ABOUT THE CODE OF
ETHICS .......................................................................................................... 20
13. FINAL PROVISIONS............................................................................. 21

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1. INTRODUCTIONMISSONI S.p.A. and its subsidiaries (hereinafter jointly referred to as the "Group"
and/or "MISSONI"), in order to clearly and transparently define the set of values theydraw inspiration from in order to achieve their objectives, have prepared this code of
ethics (hereinafter the "Code of Ethics"), compliance with which is essential for thecorrect functioning, reliability, reputation and image of the Group, which are thefoundations for its current and future success and development.
MISSONI's activities must, therefore, comply with the principles expressed in the Codeof Ethics.
The Group recognizes the importance of ethical and social responsibility in the conductof business and corporate activities. At the same time, it requires all employees and all
those who cooperate in the running of the Group companies to comply with thecompany rules and precepts set out in this Code.
2. MISSION AND ETHICAL VISION
The main objective recognised and pursued by MISSONI is the creation of value for its
shareholders, who are the target of the strategies and operational management inpursuing its mission as a leading player in the Fashion and Luxury sector.
The Group intends to maintain and develop the relationship of trust with its stakeholders
and to pursue its objectives by seeking the best balance of interests involved, incompliance with all legal provisions and the principles of honesty, impartiality,
reliability, loyalty, fairness, transparency and good faith.
3. THE CODE OF ETHICS
The Group has deemed it appropriate and essential to adopt and issue its own code of
conduct to clearly explain the values that all its directors, employees and collaborators
in various capacities need to comply with (accepting responsibilities, arrangements,
roles and rules), and if any breaches of the code occur, even though there is noconsequential corporate liability towards third parties, they assume personal
responsibility both within and outside the Group companies.

4Knowledge of and compliance with the code of conduct by all those who provide theirwork services in the Group are therefore primary conditions for the transparency andreputation of the individual companies. Furthermore, the code is made known to all
those with whom MISSONI has business relations.
Assessing the content and principles of the Code of Ethics and its application are theresponsibility of the Supervisory Body, which may also make proposals for additions
and changes to its content.
4. SCOPE OF APPLICATION OF THE CODE
The principles and provisions of the Code of Ethics are binding on directors, employees
and all those who work with Group companies on the basis of a contract, including
temporary ones. All the above mentioned individuals are hereinafter collectively
referred to as "Recipients".
5. GENERAL PRINCIPLES
5.1 Compliance with the Law
The Group acknowledges that compliance with the laws and regulations in force in all
the countries where it operates is an essential principle.
5.2 Honesty and fairness
Directors, employees and all those who work with Group companies on the basis of acontract agree to act fairly, honestly, ethically and in compliance with the laws in force,in all business dealings on behalf of the Group, including relations with customers,
suppliers and competitors.
No Recipients are authorised to gain unfair advantage over another (natural or legal)
person through manipulation, concealment, illicit use of inside or confidential
information, false representation of essential facts or any other unfair practice.
5.3 Centrality of the person
MISSONI promotes respect for the physical and cultural integrity of the person.

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It guarantees safe working environments and working conditions that are respectful ofthe dignity of each individual. It does not tolerate requests or threats aimed at inducing
people to act against the law and the Code of Ethics, or to adopt forms of behaviour that
may harm the moral and personal beliefs and preferences of each person.
MISSONI supports and respects human rights in compliance with the UN Universal
Declaration of Human Rights.
5.4 Impartiality and equal opportunities
The Group undertakes to avoid any form of discrimination on the basis of age, gender,
sexuality, state of health, race, nationality, political opinions, trade union membershipand religious beliefs, in all decisions affecting relations with its stakeholders.
5.5 Transparency and completeness of information
MISSONI undertakes to inform all stakeholders in a clear and transparent manner about
its situation and performance through the functions delegated for this purpose, without
showing favour to any interest group or individual.
5.6 Trust and collaboration
Relations with stakeholders, at all levels, must be based on conduct and criteria ofloyalty, honesty, collaboration and mutual respect through constant and transparent
dialogue. This is the only way to ensure continued relationships of trust andcollaboration for the mutual benefit and sustainable growth of the value created.
In particular, being convinced that one's actions in some way are beneficial to thecompany does not justify the adoption of conduct contrary to the above principles. All
those who work for the companies of the Group, without distinctions and exceptions,are, therefore, committed to observe and enforce these principles within the scope of
their own functions and responsibilities. This commitment is justified and requires thatthe parties with whom the Group companies have relations in any capacity, should also
act with rules and procedures inspired by the same values.

65.7 Protection of Made in Italy products
MISSONI protects and promotes the culture of craftsmanship and creativity in all Madein Italy products through the quality and research of materials, the evolution ofcreativity and design.
6. PRINCIPLES OF MANAGING BUSINESS
6.1 Confidentiality of information
MISSONI guarantees the confidentiality of the information in its possession andcompliance with the regulations on personal data.
All information available to Group companies is processed with respect for theconfidentiality and privacy of the parties concerned.
In this regard, every employee shall:oacquire and process only the data necessary and directly related to his/herfunctions;ostore such data in such a way as to prevent third parties from gaining access to it;

ocommunicate and disclose the data within the established procedures or with theprior authorisation from the person delegated for this purpose;odetermine the confidential nature of the information in accordance with therelevant procedures;omake sure that there are no obligations of confidentiality by virtue of relations ofany kind with third parties.

6.2 Protection of company secrets and of intellectual and industrial property
rightsGiven that MISSONI intends to operate with the utmost transparency with respect toits stakeholders, any information, of a technical, economic or any other nature, whichis acquired by employees of Group companies in the performance of their duties or by
the other Recipients of the Code of Ethics in the performance of contractual
relationships established with the individual companies, shall belong to the relevant

7Group company and constitutes an essential part of its intangible assets that are vitalfor the creation of value.
MISSONI protects confidential information in its possession and the industrial property
rights on ideas developed within the company organisation as a fundamental part of thecompany's assets and primary factor of value creation, and ensures the possibility ofobtaining patents, trademarks, and other industrial and/or intellectual property rights onthem and on industrial inventions developed through their application.
Employees and consultants must follow special rules of caution when communicatingsuch confidential information to other employees or consultants by telephone, fax, telex
and/or email, and in general take all other precautions that are not expressly provided
for herein but are in any case appropriate in order to prevent its unauthorised disclosureand consequent entry into the public domain.
It is strictly forbidden to disclose confidential information to third parties outside theGroup's corporate organisation who have not signed a confidentiality commitment.
MISSONI also requires that intellectual property rights of third parties are respected;
for this reason, all the Recipients of the Code of Ethics are obliged to request
collaboration from the relevant department.
In case of doubt about the interpretation of the laws protecting these rights in the various
countries in the world or about the extension of the titles (patents, trademarks, etc.), it
is obligatory to seek advice from the same department before taking any initiative that
may constitute an infringement of these laws.
This article applies to any type of information that is in the possession of the Group
companies and that is subject to confidentiality obligations, regardless of its economic,
commercial, legal, scientific and/or technical nature.
Examples of confidential information include marketing plans, economic data relating
to customers and suppliers, sales data, prices, scientific and technical data relating tomarketed products or those under development and the technologies used.

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6.3 Prevention of any conflict of interest
Recipients must avoid situations and/or activities that could lead to conflicts of interest
with those of the Group and of individual companies or that could interfere with theirability to make decisions impartially.
By way of example, but not limited thereto, a conflict of interest exists in the event of:oa shared interest (that is obvious or concealed, direct or indirect) of the Recipientin the business of suppliers, customers, competitors and, in any case, with external
parties seeking to enter into business with the Group;o

exploitation of one's functional position to pursue interests in conflict with thoseof the Group;o

use of information acquired in the performance of work activities for one's own
benefit or for the benefit of third parties and, in any case, in contrast with that of
the Group;oacting as a corporate officer or the performance of work activities, of any kind andeven indirectly, with customers, suppliers, competitors and third parties in general,
which is contrary to the interests of the Group;oacting as a broker, business procurer or other intermediary on behalf of third parties
in transactions concerning the Group or its interests.

If the Recipient is in a situation of conflict, even potential conflict, with the interests of
the Group, the Recipient must immediately inform his/her line manager and, in moresignificant cases, the Supervisory Body, and abstain from any activity connected withthe situation that is the source of the conflict.
In relations between Group companies and third parties, Recipients must act inaccordance with ethical and legal standards and are explicitly prohibited from resorting
to illegitimate favouritism, collusion, corruption or soliciting for personal benefits forthemselves or for others.
It is obligatory to promptly report to one's line manager and, in more significant cases,to the Supervisory Body any information that may be considered part of or leading to asituation of potential conflict of interest with the reference company and/or the Group.

9This is without prejudice to the rules governing conflicts of interest of members ofcorporate bodies in accordance with the law.
6.4 Protection and personal use of the company's assets
MISSONI personnel are required to protect the assets of Group companies and to ensurethat they use them in an efficient manner. Acts of theft, negligence and waste have a
direct impact on the results of the individual company and the Group as well as on theimage of MISSONI. Everything owned by the individual Group companies, such as
office supplies, computers, office space and equipment for office work must be used
exclusively for the legitimate purposes of each company, although personal use may
occasionally be permitted.
6.5 Customers
The style of behaviour with respect to customers is characterised by a willingness tohelp, respect and courtesy, with a view to a collaborative and highly professional
relationship.
Consistent with the principles of impartiality and equal opportunities, the Group
undertakes not to arbitrarily discriminate against its customers, to provide high-quality
services that meet the customer's reasonable expectations and protect their safety andsecurity and to stick to the truth in advertising and marketing communications or any
other communications.
6.6 Suppliers
Purchasing processes are geared to the search for maximum competitive advantage, thegranting of equal opportunities for each supplier and are based on fairness andimpartiality.
The selection of suppliers and the determination of purchasing conditions are based on
an objective assessment of quality, price and the ability to provide and ensure servicesof an adequate level. In detail, employees shall not:oreceive any form of payment from any person in return for carrying out an official
act or an act contrary to their official duties;

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oendure any form of conditioning from third parties in order for them to makedecisions and/or perform actions relating to their work activities.

6.7 Gifts, gratuities and other benefits
In relations with Customers, Suppliers and third parties in general, including Public
Officials, no direct or indirect offers or concessions, including inducements in the formof money, gifts or benefits of any kind in a personal capacity, are permitted with a viewto undue, real or apparent, advantages of any kind being obtained (e.g. gifts, promisesof economic advantages, favours, recommendations, promises of job offers) or, in any
case, that are aimed at acquiring or reserving favourable treatment in the conduct of any
activity related to the Group.
In any case, gifts and gratuities are allowed, provided that they do not exceed normal
acts of courtesy, and are, nevertheless, such as not to compromise the integrity andreputation or to influence the independent judgement of the beneficiary.
A Recipient who receives gifts beyond the limits of normal acts of courtesy, must refuse
them and immediately inform his/her line manager and/or the Supervisory Board.
6.8 Fair competition
MISSONI recognises the value of competition when inspired by the principles offairness, fair competition and transparency with respect to operators on the market.
The Group also undertakes not to unduly damage the image of its competitors and theirproducts.
6.9 Sustainability
MISSONI carries out its business activities with the primary objective of guaranteeing
the quality of its products and sustainability through economic, ethical, social andenvironmental conditions that may safeguard the environment and the community.
MISSONI recognises that environmental protection is of fundamental importance inensuring a coherent and balanced growth path; consequently, each Group company iscommitted to safeguarding the environment and contributing towards the sustainable11

development of the territory, also through the use of the best available technologies andconstant monitoring of company processes, as well as identifying industrial solutions
with the lowest environmental impact, also by reducing energy consumption, waste andthe wasteful use of resources. In this perspective, MISSONI is committed to eliminating
the use and release of hazardous chemicals in production processes and refraining fromcontributing to deforestation in its procurement of packaging and leather supplies.
The Group also pays particular attention to the trading of raw materials deriving from
species subject to the "Convention on International Trade in Endangered Species ofWild Fauna and Flora" and manages the production and marketing of its products incompliance with current regulations.
6.10 Repudiation of ill treatment of animals
MISSONI repudiates all forms of ill treatment of animals; therefore, in procuring its
raw materials of animal origin (such as leathers, down, feathers and the like), it requires
its collaborators and suppliers to ensure that these materials have not been obtained
through violent and cruel breeding and/or collection practices.
6.11 Protection of cultural heritage
The Group recognizes the value of cultural heritage and the need to help protect its
conservation, respect and enhancement, in compliance with the provisions of Art. 9 of
the Italian Constitution. To this end, it undertakes to operate in compliance with theprovisions of the Code of cultural heritage and landscape, as well as with any otherapplicable rule in any jurisdiction.
6.12 Anti-Money Laundering
MISSONI must not, in any way and under no circumstances, be involved in events
relating to money laundering or the receiving of stolen goods or those from illegal or
criminal activities.
The Group is committed to complying with all national and international standards andregulations regarding money-laundering.

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7. MANAGEMENT OF PERSONNEL
7.1 Human Resources
Human resources are an essential element for the Group's existence and a critical factor
in competing successfully in the market.
Honesty, loyalty, ability, professionalism, seriousness, technical preparation anddedication of the staff are, therefore, among the crucial conditions for achieving
MISSONI's objectives and represent the characteristics required by the Group from its
directors, employees and collaborators in their various capacities.
Therefore, the management of employment relationships and collaboration is inspiredby respect for the rights of workers and making the most of their contribution with aview to fostering their development and professional growth.
All employees and collaborators of each company of the Group are requested toundertake to act loyally in order to comply with the obligations assumed under theirwork contract and with the provisions of this Code of Ethics, ensuring due performanceand compliance with the commitments made to their respective companies.
In order to contribute towards the development of the company's objectives, and toensure that these objectives are pursued by everyone in compliance with the ethicalprinciples and values that MISSONI draws inspiration from, the company's policy aims
to select all its employees, consultants and collaborators in their various capacities,
according to the values and characteristics set out above. As part of the selection process- conducted in compliance with equal opportunities and without any discrimination as
regards the private sphere and opinions of candidates - MISSONI works to ensure thatthe human resources it acquires correspond to the profiles actually needed to meet thecompany's needs, avoiding favouritism and advantages of any kind.
7.2 Safeguarding health and safety in the workplace
MISSONI is fully committed to ensuring health and safety in the workplace.

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In this regard, each Group company adopts the most appropriate measures to avoid,
counteract and manage the risks associated with the performance of its businessactivities.
As part of its activities, the Group is committed to adapting its work to suit humans,
including the design of workplaces and the choice of work equipment and work andproduction methods, in particular to lessen monotonous and repetitive work and to
reduce the effects of such work on health.
Each Group company also undertakes to operate:a) by taking into account the level of technological development;b) by replacing anything that is dangerous with things that are not dangerous or that areless dangerous;c) by adequately planning safety practices and aiming at a coherent set of elements
which take account of work organisation, working conditions, social relations and theinfluence of factors in the working environment and make them an integral part thereof;d) by giving priority to collective protection measures over individual protection
measures;e) by giving appropriate instructions to personnel;f) by selecting suppliers who pay significant attention to occupational health and safety.
These principles are used by MISSONI to identify and adopt the measures necessary
for protecting the health and safety of workers, including the prevention of occupationalrisks, the provision of information and training and the preparation of an organisation
with the necessary resources.
Recipients must adhere to these principles, in particular when decisions or choices haveto be made and, subsequently, when they have to be implemented.

147.3 Sexual harassment
MISSONI does not tolerate any sexual harassment, in the sense of: the subordinationof salary or career prospects to the acceptance of sexual favours; proposals for privateinterpersonal relationships that are conducted despite express or reasonably-evident
disapproval, and which have the ability, in relation to the specific situation, to disturb
the serenity of the recipient.
7.4 Alcohol and drug abuse
MISSONI requires each employee to personally contribute towards maintaining aworking environment that respects the sensitivity of others. The following will
therefore be considered to be unjustifiable conduct: working under the effects of alcohol,
drugs or substances with similar effects; consuming drugs or transferring them to others,
under any terms, in the course of one's work.
7.5 Respect for differences
In conducting business, employees must respect the dignity and rights of individuals
without distinction. It is MISSONI's policy and value not to discriminate against
employees and to observe the principle of equal employment opportunities without
distinction of age, sex, race, religion, colour, physical handicap, citizenship, marital
status or sexual orientation. No form of bullying will be tolerated.
7.6 Employment of foreign workers and child labour
In each company of the Group, the personnel are hired under regular employment
contracts and no form of irregular work is tolerated. It is expressly forbidden to employ
foreign workers without a residence permit and/or to enter into contracts with themwhen the duration of the contract is longer than the duration of their residence permit.
Group companies do not employ any form of forced, compulsory or child labour, i.e.,they do not employ persons below the age established for starting work under the
regulations of the place where the work is performed.
MISSONI also undertakes not to establish or maintain business relations with suppliers
who employ child labour.

158. EXTERNAL RELATIONS
8.1 Relations with the Public Administration
The Group's relations with Public Administrations will be maintained solely by the
corporate functions delegated to maintain such relations.
When dealing with employees and representatives of public bodies, the members of thecompany organisation must maintain conduct in line with principles of transparency,
honesty and fairness.
Employees shall immediately inform the Chairman of the Board of Directors and/or the
Chief Executive Officer of any attempts of extortion against them by public officials or
persons in charge of a public service.
If a Group company assigns a third party with the task of representing it, so that it may
be represented in relations with the Public Administration, this third party shall be
subject to the application of the Code of Ethics, with particular reference to the rules on
the conflict of interest, as well as the instructions given within the task assignment.
8.2 Information entities
Relations between the Group and the media are the responsibility of the designatedcorporate function and must be carried out in accordance with the communication
policy defined by the Company and in accordance with the procedures provided for thispurpose. The Recipients may not, therefore, provide representatives of the media withany information without the authorisation of the competent functions.
8.3 Relations with Political Parties, Trade Unions and Associations
Relations with political parties, trade unions and other industry associations aremaintained by the company functions authorised to do so or by the persons delegatedby them, in compliance with the provisions in this Code of Ethics, as well as the Articles
of Association and special laws, with particular regard to the principles of impartiality
and independence.
MISSONI does not make direct or indirect contributions to political parties, nor to theirrepresentatives or candidates, and refrains from any direct or indirect pressure on

16political representatives (e.g. by accepting recommendations for recruitment,
consultancy contracts, etc.).
All employees must recognize that any form of involvement in political activities takes
place on a personal basis, in his or her own time, at his or her own expense and inaccordance with applicable laws.
Furthermore, MISSONI does not make any contributions to organisations with which
there may be a conflict of interest (such as trade unions, consumer protection
associations or environmentalists). Strictly institutional forms of cooperation are
possible when: the purpose is attributable to the Company's mission or refers to projectsof public interest; the allocation of resources is clear and can be documented; there isexpress authorisation from the relevant corporate functions.
8.4 Protection of personal data
In carrying out its activities and in order to guarantee the protection of personal data,
MISSONI undertakes to process personal data in compliance with the reference
regulations and in particular in accordance with the following criteria: transparency
towards the individuals to whom the data refers, lawfulness and correctness in theprocessing, pertinence of the processing with the declared and pursued purposes andguarantees on the security of the processed data.
9. ACCOUNTING MANAGEMENT AND CORPORATE GOVERNANCE
9.1 Accounting records
Precision and integrity in the keeping of the accounting books and records of eachGroup company are of primary importance for the success of MISSONI. The membersof personnel in charge are required to comply with the following instructions
concerning the financial documents of each Group company.
•

Accounting standards: Members of personnel are required to comply withgenerally-accepted accounting standards where applicable and all related
regulatory requirements. Members of personnel are required to execute all17

transactions in accordance with the policies and procedures of the Group and thecompany they belong to.
•

Recorded funds: All transactions and agreements, assets, liabilities, income andexpenses, must be recorded and described in the accounting books and documentsof the company they belong to.

•False records: No members of personnel are authorised to intentionally and forany reason make false or misleading entries in the books or documents of thecompany they belong to, or to contribute towards or facilitate any such conduct.

•

Recognition of credit and debit items: All income items must be recorded in theaccounts in the period in which they occur, and similarly all expense items must
be recorded in the accounts in the period in which they are made. Under nocircumstances is accelerated recognition (prior to the period of accrual), or
postponed recognition (subsequent to the period of accrual) or manipulated
recognition permitted in any way that involves a change to the recognized andcorrectly-applied accounting standards.

•

Authorisation: In order to have access to bank account funds or to carry out
payments by bank transfer, members of personnel must be authorised inaccordance with the cash management policies of each Group company. Personnel
may use the funds or other assets owned by the Company solely through priorauthorisation and exclusively for legitimate business purposes.

•

Payments: Members of personnel may not make any type of payment on behalfof the Company without adequate supporting documentation, or for any purpose
other than that described in such supporting documentation.

9.2 Corporate Governance
The Group creates the conditions so that shareholders may take part widely and with
due awareness in the decisions for which they are responsible; it promotes the equality
and completeness of information and protects their interests.
The Corporate Governance system adopted by each Group company complies with theprovisions of the law and is mainly aimed at:18

oensuring the regularity of management operations;ocontrolling risks;oachieving maximum transparency with regard to the company's stakeholders;omeeting the legitimate expectations of shareholders;oavoiding any kind of transaction that is detrimental to creditors and the otherstakeholders;ocomplying with labour law and occupational safety regulations, enhancing thework of human resources.

10. WHISTLEBLOWINGThe Recipients of the Code of Ethics shall report, at any time, any action deemedunlawful or irregular with regard to the principles and rules governing the activities ofeach Group company; reference is made to the specific whistleblowing procedure.
11. SANCTIONS
Compliance with the provisions of the Code of Ethics must be considered an essential
part of the contractual obligations of employees, pursuant to and for the purposes of
Article 2104 of the Italian Civil Code. Breach of the provisions in this document may
result in the application of disciplinary sanctions which - depending on the extent of theinfringement - may range from a simple warning (in less serious cases) to dismissal(including dismissal without notice) in more serious cases, together with the breachbeing reported to the judicial authorities (where the circumstances justify it).
All employees are required to comply with the provisions in the Code of Ethics, whichmust be considered additional to the governing rules already in force within each Group
company. In light of the provisions of Article 7 of Law no. 300/70, in the event of abreach of the provisions in this document, disciplinary measures will be applied against
the defaulting employee in line with the provisions of the law and the applicable
National Collective Labour Agreement for employees (hereinafter the "NCLA").

19

The relevant employee shall be required to provide compensation for damages resulting
from the breach of the Code of Ethics, according to the procedures specified in theapplicable legislation and/or NCLA.
Compliance with the Code of Ethics must also be considered an essential part of thecontractual obligations assumed by freelance collaborators and/or individuals having
business relations with Group companies. Breaches of the rules of the Code of Ethics
may constitute a breach of contractual obligations, with all legal consequences, alsowith regard to the termination of the contract and/or assignment and may result in thepayment of compensation for damages resulting from the same.
Similarly, directors and statutory auditors are required to comply with the provisions of
the Code of Ethics and breaches thereof entail the application of penalties in line withthe seriousness of the breach. Directors and statutory auditors shall be required toprovide compensation for damages resulting from the breach of the Code of Ethics.
12. DISSEMINATION OF AND TRAINING ABOUT THE CODE OF ETHICSMISSONI undertakes to disseminate the provisions of the Code of Ethics as widely as
possible, so that all Recipients are aware of prohibited, recommended and prescribed
forms of conduct.
The Code of Ethics will be displayed in paper format, as provided for by Article 7,paragraph 1, of Law no. 300 of 20 May 1970 and the applicable special laws, by posting
it in a place accessible to all employees.
The Code of Ethics will be published in electronic format in Italian and with atranslation in English, on the corporate website of each Group company (whereavailable), in order to be available to third parties and any additional interlocutors.
The Code of Ethics is also distributed to all members of the corporate bodies and to allmembers of personnel.
In order to ensure correct understanding of the Code of Ethics, regular communicationplans are prepared and implemented to promote awareness of the principles and ethicalrules contained in the Code of Ethics, taking into account the need to differentiate theactivities based on the role and responsibility of the resources involved, i.e. through the20

provision of more intense training characterised by an enhanced level of in-depth study
for those who qualify as "top management" in accordance with Legislative Decree
231/2001, as well as for those operating in areas that qualify as "at risk" under theOrganisational Model of each Group company.
In contracts with third parties, provision is also made for the introduction of clauses
and/or the signing of declarations aimed both at formalising the commitment to comply
with the Organisational Model and the Code of Ethics, and at regulating sanctions of acontractual nature, in the event of breaches of this commitment.
13. FINAL PROVISIONSThis Code of Ethics that acknowledges company practice, is approved by the Board of
Directors of the individual Group companies. Any changes and/or additions to the same
shall be approved by the Board of Directors and promptly circulated to the Recipients.

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