Subject:

Date:

Code of Conduct

2021-08-13

Author:Version:Clas Gunneberg

1.1

Approved:

Approval date:

Board of Directors

2020-10-22

Introduction
Piab globally offers a broad range of mainly vacuum-based components andproducts for applications in gripping, lifting and moving of various kind of Materia
to OEM’s, Integrators and End-users, mainly in the FMCG, Logistics/Warehousing,Food, Pharma and Chemical market segments. We do this by Innovating,
Developing, Designing, Sourcing, Assembling, Marketing, Selling and Distributing
our products, and we go to market through our own sales force, 3rd party
distributors and e-Commerce.
The foundation of our business is the ability to build and maintain mutually
beneficial long-term relationships with our stakeholders, to develop sustainable
and innovative automation solutions and to attract motivated and talented people.
We aim to guard this foundation by being committed to conducting our businessin a legally, ethically, socially, and environmentally responsible manner. As amember of the UN Global Compact, the company submits an annual progress
report that describes our efforts to implement the ten principles of the UN Global
Compact (www.unglobalcompact.org/what-is-gc/mission/principles).
Our Common Value Base, which includes our Core Purpose, Mission, Vision, Core
Values, and our Credo, help us define our short- and long-term goals and give
guidance on how we should act to reach them. It describes who we are, what we
aim for and how to behave when performing our tasks. What we do is important,and how we do it is just as important. Every action we take, shapes the character of
Piab and ultimately differentiates and strengthens us in the marketplace.
For Piab, it is all about evolving automation. That’s what we are passionate about
and strive for every day at work. It’s our core purpose. Evolving automation means
to relentlessly focus on how the automation can be improved from a functionality,
safety, and sustainability point of view. Our mission, Evolving automation throughprogressive gripping, lifting and moving solutions, provides direction, our vision, an
automated world where no resources are wasted, and no humans are injured, tells
us what to aim for, and our core values, Commit, Explore and Lead, how to act on
our way to the vision.

COMMIT – means to take responsibility, to do what we say that we should do, tokeep our promises and to be true to our values. With COMMIT as a core value webuild trust among our stakeholders.

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EXPLORE - means to be curious, to dare, to be open to new things, to show
entrepreneurship, to innovate, to try new ways. With EXPLORE as a core value weevolve ourselves, our offer, and our business.
LEAD - means to have a sense of urgency, to be in the forefront, to act as a rolemodel, to show the way, to focus, to have the perseverance to remain in the front,
to do the right things, to have the courage to make decisions and to act. With
LEAD as a core value we move our business in line with our strategies and in the
direction of our targets.
Finally, our Credo summarizes it all. Credo comes from Latin and means” I believe”.
At PiabWe believe in an automated world where no resources are wasted, and no humans
are injured, by evolving automation through progressive gripping, lifting, andmoving solutions.
In this quest we are curious explorers. We lead and find opportunities in theunknown. We focus our energy on where we can make a difference. We do what wesay. We are evolving ourselves, evolving our customers, and evolving automation.
Together, we are evolving the world.

Clas Gunneberg - CEOPage 2/8

ScopeOur Code of Conduct addresses ethical behaviour in our work environment,
business practices and relationships with internal and external stakeholders. We
shall behave appropriately towards existing and potential customers, suppliers,
employees, investors, and other business partners, as well as towards thecommunities in which we act.
This Code of Conduct helps us put our core values into action in our everyday
work situations and it provides guidance for how we are expected to act.
The Code of Conduct shall provide guidance to aspects relating to:• How we respect human rights both inside and outside our company• How we maintain sound business ethics• How we ensure that we operate in an environmentally responsible way
The Code is applicable to all employees within the Piab Group (Piab) worldwide
and its Board of Directors. Moreover, our business partners, including suppliers,
consultants, and independent contractors, must adhere to standards similar to
those reflected in our Code. Our suppliers, as well as others with whom they dobusiness, including employees, subcontractors and other third parties, areexpected to establish and maintain appropriate management systems and actively
review, monitor and modify their management processes and business operations
to ensure they align with the principles set forth in this Code of Conduct. The
official language in Piab is English and all our policies are in English only, with the
exception of this Code of Conduct which is translated to every local language
where we have any kind of official presence.

The Code is split into the key areas Business ethics and integrity, Social ethics,
Environmental responsibilities, and Governance and monitoring of the Code. Where
relevant, the Code refers to more detailed policies, or guiding documents at group
and/or local level. If any local policies and guiding documents vary from or arecontradictory to our Code of Conduct, this Code shall prevail.
Business ethics and integrity
Legal compliance
We and our business partners, comply with the applicable laws, standards, andother legal provisions of the countries in which we operate. We are aware of thecontinuous development of International Regulations and social standards andcontinuously adopt those that are relevant to our business.

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Competition
We are committed to fair competition. Laws protecting competition, especiallyanti-trust laws and other regulations that regulate competition, shall be observed.
Companies and employees must never engage in any anti-competitive activity
such as illegal fixing of prices or the sharing of markets. Further details are
specified in our Anti-Trust Directive.
Anti-corruption and -bribery
We are committed to working against corruption in all its forms, including
extortion and bribery. No such illegal activity is tolerated either in action or as
negligence by any of our employees, suppliers, and business partners. We use
suitable means to promote transparency, trading with integrity, responsible
leadership and company accountability. We shall comply with the applicablecriminal law on corruption. Further details are specified in our Anti-Corruption
Directive.
Gifts and entertainment
Neither Piab employees, nor anyone acting on our behalf, may solicit, give or
receive, directly or indirectly, gifts, gratuities, special allowances or a benefit which
could influence the judgement of the recipient or is deemed unreasonable in thecontext. However, we also recognise and accept that occasional modest – and in
the context of business – reasonable, gifts or hospitality can make a valuable
contribution to our business relationships. Further details are specified in our AntiCorruption Directive.
Non-complicity
We cooperate with customers and business partners in observing the potential use
of our products and services for illegal purposes. A detailed Trade Compliancepolicy supports these principles.
Confidentiality
Confidentiality is maintained by Piab and our employees with regard to ourbusiness partners’ commercial secrets, and vice versa, i.e. we require our Business
Partners to keep Piab’s information confidential. The communication ofconfidential information to third parties or the public is prohibited. The obligation
to observe secrecy continues to apply after the end of employment for all
employees in line with applicable legislation. The obligation to observe secrecy
continues to apply also for our business partners after the relationship with Piabhas ended

Company assets
Piab employees are expected to be loyal and share the responsibility of protecting
the company’s assets from loss, damage, misuse, and destruction. Company assets
shall not be used for personal purposes or in support of activities outside of Piab’sbusiness.

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SocialHuman rights
We support and respect the protection of internationally proclaimed human rights(www.ohchr.org) and we ensure that company activities are not complicit in humanrights abuses, for example, in our relationships with our suppliers. In practice thismeans that:• We comply with applicable legal requirements relating to human rights.
• We identify, prevent, and address actual or potential human rights infringements.

Discrimination and harassment
We, and our business partners, condemn discrimination in hiring and employment.
No existing or potential employee should be discriminated against because of, forexample, race, colour, gender, sexual orientation, marital status, pregnancy,
parental status, religion, political views, nationality, ethnic background, social origin,social status, disability, age or union membership. We disapprove psychological,
physical or sexual abuse and verbal harassment or abuse. Integrity, privacy andfreedom of expression are guaranteed.

Freedom of association
We, and our business partners, respect the right of employees to establish or jointrade unions and representative organisations of their own choosing in line withapplicable local legislation.

Forced labour

We and our business partners, shall not engage in or support forced,
bonded or compulsory labour, nor do we accept any form of deposit orconfiscation of identification papers from employees. Employees are free toleave their employment after reasonable notice as required by law andcontract.
Child labour
We, and our business partners, do not tolerate child labour (<15 years old) and any
form of exploitation of children and adolescents (<18 years old). Any tasks deemed
to be dangerous may not be performed by any employee under 18 years. Any
local legislation must be followed.

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Labour practices
We, and our business partners, are committed to providing fair compensation andworking conditions for all our employees. Working hours shall be set according to
the domestic laws in force or industrial standards, but never more than 48 hours.
All employees are informed and have the right to know the basic terms andconditions of their employment.
Health and occupational safety
Domestic and international regulations to ensure occupational health and safety inthe workplace are to be followed, both by Piab and by our business partners. By
supporting risk analyses, training programmes and other precautionary measures,
we ensure that our employees can perform their work in a safe and healthymanner.
Product safety
We apply risk analysis and corresponding mitigating actions and strict proceduresin our operations, as well as maintain a high level of expertise in the application
areas of our products, thereby contributing to increased safety in the use of our
products. We aim to comply with General Product Safety Directives in markets
where we operate.
Land rights of communities
We accept and support that land rights of communities and indigenous peoples,
will be protected and promoted.

Environmental responsibility
We recognise that environmental responsibility is a precondition for the survival
and prosperity of all living beings. Consequently, environmental responsibility for
us means that our products are designed, produced and distributed withenvironmental consideration. We, and our business partners, always apply withexisting environmental legislation.
Environmental protection
We promote sustainability across all aspects of the business, fulfil the requirements
and standards for environmental protection and act in an environmentallyconscious way in all locations in which we operate. In this context, we strive forenvironmentally compatible processes and a considerate use of our planet’s
resources.
Sustainable products
We actively work to optimize our products from a material usage perspective andfrom a functionality perspective, aiming at minimizing negative environmental
aspect from the used material, as well as minimizing the energy consumption in
their fields of application. We also aim to make them fully recyclable. All materials
used in our products must be in accordance with the latest REACH and RoHS
directive and should not contain any conflict material as per the EU regulation on
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conflict materials and the US Dodd-Frank Act. We also aim to comply with General
Product Safety Directives in markets where we operate. We are in compliance withall relevant EU directives (CE) regarding safety and we aim to comply with otherdirectives in other markets.
Operations
We operate our business and provide products in a way that minimises
environmental impact. The overall aim is to minimise environmental impact that
relates to our activities, products, and services. We therefore support aprecautionary and careful approach to environmental challenges.
Governance and monitoring of the CodeThis code is approved by Piab’s Board of Directors. All employees should befamiliar with our Code of Conduct and other policies relevant to their jobs andapply them in their work. Directors are responsible for assuring that the policy is
known by all employees within their respective organization and that, if applicable,
the necessary parts are included in local rules and procedures, in addition to thoseanyway required for compliance with local legislation. In addition, all employees
should sign off that they have understood and will apply the code. Audits will
support the monitoring of compliance with this policy.

Upon request, a business partner must, by way of providing information and/or
allowing Piab or its representative, access to their premises, verify to ourreasonable satisfaction, that they comply with this, or a similar, Code of
Conduct.
Non-compliance with the CodeViolations of this Code of Conduct will always be taken seriously and may lead to
disciplinary action up to and including termination of employment. In addition,
violating the law may result in substantial criminal fines, custodial sentences and/or
civil damages for us or for an individual employee.

Our business partners are solely responsible for full compliance with this Codeof Conduct, or similar, and shall inform Piab Group if they discover a breach tothis code in their own operations.

Reporting violations
All employees and other stakeholders who suspect a breach of this policy shallreport the matter to relevant supervisors, managers or a Human Resources
representative. If necessary, anyone can use the Piab whistleblowing service.
Contact information is available online (www.report.whistleb.com/Piab). The
whistleblowing service is an external service for reporting suspected breaches ofour values and Code of Conduct where reporting parties may remain anonymous.
All communications will be investigated as appropriate and will be kept asconfidential as possible. No employee acting in good faith will be subject toPage 7/8

disciplinary measures for providing information concerning suspected violations oflaw or company policy.
Practical guidance
In our daily work we may face situations from time to time which are not explicitly
covered by our Code of Conduct or other policies and guiding documents. Often
it is a question of common sense or prior experiences. If we are unsure about thecorrect behaviour in a specific situation, we should ask ourselves, or discuss with acolleague, the following questions:• Does the behaviour seem legal?
• Am I a good role model doing this?
• Do I risk becoming dependent on someone from my behaviour?
• Have I made a decision or an action that would stand close examination by
media?

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