Code of Conduct

I.    Taaleri Code of Conduct in General

You decide.

Everyone at Taaleri will find themselves in situations where they must decide how to act. Taaleri’s values and this Code of Conduct clarify the ethical principles guiding our operations and what we think is the right way to act. This Code of Conduct serves as the foundation for all operations in Taaleri Group, and it cannot be compromised.

Underlying the Taaleri Code of Conduct are Taaleri’s values: ethicality, customer understanding, mutual respect and entrepreneurship.

In addition to the Taaleri Code of Conduct, Taaleri Plc’s Board of Directors has ratified certain prin-ciples and guidelines concerning the entire Group. They guide the operation of all companies in Taaleri Group in each business area and, based on them, the companies decide their own, more detailed operating and working instructions. The purpose of the above-mentioned instructions, along with this Code of Conduct, is to ensure that the administration of all Group companies is reliable and the key methods are faultless and consistent throughout the Group, taking the differences between business areas into consideration.

Each Taaleri employee is personally responsible for following this Code of Conduct and all other instructions issued by Taaleri that apply to them. Non-compliance with the Taaleri Code of Conduct, the laws and other principles or instructions may result in legal or administrative consequences to the person themselves, to other employees and to Taaleri, and this conduct may affect Taaleri’s reputation. All Taaleri employees have the obligation to maintain the reputation and ethical stand-ards of the company.

If a Taaleri employee observes business methods or other activity that may be or is against the Taaleri Code of Conduct, laws or regulations, they are encouraged to report it to their supervisor or report it following the Taaleri Whistle blowing instructions.

Honest and ethical business and compliance with all laws is in everyone’s interests at Taaleri.

This Code of Conduct applies to all companies in Taaleri Group and the people working in them.

II.    Business Principles

Compliance with laws and regulations

Taaleri is committed to following the laws, regulations and official orders of all countries where it carries on its business. Compliance with laws and responsible and ethical conduct are among the cornerstones of our business.

In addition to local laws and regulations, Taaleri is committed to observing internationally recognised human rights, as defined in UN Universal Declaration of Human Rights and the basic standards of the International Labour Organisation (ILO).

Taaleri Plc adheres to the Corporate Governance Code for listed companies maintained by the Securities Market Association, the rules of Nasdaq Helsinki Ltd (Helsinki Stock Exchange), securities market legislation and the official regulations issued by virtue of it.

Corruption and bribery

Taaleri does not approve of any kind of corruption, bribery or other activity that may create an im-pression of inappropriately influencing a business decision, yields an inappropriate advantage to a party or person or can be seen as trying to influence decision-making in other ways.

Taaleri or its employees may never offer or pay bribes to civil servants, private persons or compa-nies. Neither may Taaleri or its employees ever request or accept bribes.

Employees must ensure that all payments to third parties are appropriate, have an approved com-mercial basis and are recorded correctly.

In work-related relationships, only the giving and receiving of ordinary gifts and other benefits are allowed. Receiving a gift or other benefit must not lead to any dependency on the giver of the gift. The legislation and legal practice of each country determine what an ordinary gift or benefit is.

Conflicts of interests, and secondary occupations

Taaleri employees and those commissioned by Taaleri are always expected to act in the best inter-est of Taaleri. Those employed by Taaleri may not use their position at Taaleri for opportunism. In situations where personal interests may conflict with those of Taaleri, Taaleri employees must re-frain from making decisions and transfer the matter to a person who has no conflict of interests in the matter.

Taaleri Plc’s Board of Directors has approved the conflict of interests policy identifying situations in which a conflict of interests is considered to be created and instructions for these situations. Taaleri Plc’s Board of Directors has also approved the instructions concerning the management’s business transactions with related parties.

Taaleri employees must obtain a permit from Taaleri Plc’s CEO for taking a secondary occupation, exercising a profession or running a business. The secondary occupation or the above-mentioned economic activity may not interfere with the main occupation at Taaleri or cause a conflict of inter-ests between Taaleri and the person in question. Taaleri Plc’s Board of Directors has approved the instructions concerning the application and granting of permits for secondary occupation.

Prevention of money laundering and of the financing of terrorism, and related sanctions

Taaleri has zero tolerance for money laundering and the financing of terrorism. Laws and official regulations relating to the prevention of money laundering and the financing of terrorism must al-ways be complied with in Taaleri’s business operations.

Taaleri must know its customers and partners in ways required by the law. If Taaleri cannot be cer-tain of the origin of its customers’ funds or the compliance of its partners’ business operations with the law or generally accepted practice, Taaleri may not start a customer relationship or cooperation.

In its operations, Taaleri complies with the sanctions legislation binding on Taaleri and monitors the operations of its partners to avoid cooperating with parties on sanctions lists that are binding on Taaleri.

Taaleri Plc’s Board of Directors has approved the instructions governing the entire Group on the prevention and identification of money laundering and the financing of terrorism as well as the In-struction on Partners.

Confidential information and insider information

Taaleri’s confidential information received based on an employment or commission relationship may not be disclosed to outsiders or used for the benefit of oneself or third parties. Taaleri process-es personal data and protects it in accordance with the laws applicable at any given time.

Taaleri communicates as dictated by the security market laws and rules and protects all insider in-formation. To prevent abuse, insider trading and the divulgence and utilisation of insider information have been restricted, and instructions have been published for these situations.

Taaleri Plc’s Board of Directors has approved the Insider and trading regulations concerning the entire Group.

Anti-competitive behaviour

Competition legislation promotes effective competition. Taaleri only competes in a manner that complies with currently valid competition legislation.

III.    Stakeholders

Customers

Customer relationships must be taken care of with honesty, and customers must be treated equally. In any conflict of interests between the customer and Taaleri, the customer’s interest must be al-ways prioritised over that of Taaleri or a member of its personnel. Any conflicts of interests be-tween a customer and Taaleri are managed applying the Conflict of interests policy approved by Taaleri Plc’s Board of Directors.

Marketing directed at customers must be professional, and customers may never be given an in-correct or exaggerated picture of Taaleri’s products.

Taaleri makes easy appeal possible for unsatisfied customers.

Shareholders and debt investors

Taaleri Plc always strives to act in the best interest of its shareholders.

It is the company management’s task to ensure that the operations of the company are organised in an effective and goal-oriented fashion, complying with the Taaleri Code of Conduct and Taaleri’s other instructions. Taaleri treats all its shareholders equally.

To ensure that the value of Taaleri Plc’s share is determined objectively, Taaleri makes sure that the market always has correct, sufficient and up-to-date information on Taaleri’s strategy, opera-tions, business environment and economic status. For this reason, Taaleri Plc’s Board of Directors has approved the Disclosure policy.

Taaleri treats all its debt investors equally and observes the same openness towards them as to-wards shareholders, in compliance with the currently applicable security market regulations.

Personnel

Taaleri respects universal human rights as defined in the UN’s Universal Declaration of Human Rights.

Each employee is treated fairly and equally regardless of their sex, race, religion, nationality, age or physical characteristics. Discriminatory practices are not tolerated in recruiting, promotions, reward-ing or general behaviour at the workplace. Forced labour or child labour are not accepted under any circumstances.

Taaleri strives to create an equal, good and open work atmosphere that encourages entrepreneur-ship. With its management culture, Taaleri aims to commit and engage its employees on all levels of the organisation. Taaleri encourages its employees to develop personally and professionally.

Taaleri supports the health and well-being of its employees and provides them with a healthy and safe workplace.

Partners

Within its sphere of influence, Taaleri strives to ensure that all its cooperation parties and other part-ners comply with principles that are in tune with the Taaleri Code of Conduct.

Partners must be selected with care, and they must be required to comply with the law in their ac-tivities. Taaleri does not cooperate or enter into business relationships with partners that are known by Taaleri to operate against the law or good business practice.

In the selection of partners and cooperation with them, Taaleri’s interests must always be safe-guarded.

Taaleri looks into the background information of all its partners that are not minor, such as reports under the internal due diligence process as well as credit and other economic information, and en-sures that the partner is not on a sanction list. Partner information is regularly checked to ensure its up-to-dateness.

Authorities

Taaleri strives to maintain good relationships with all authorities and cooperate with them to promote open and active interaction. Taaleri also strives to participate in different ways in the development of the regulation of its current fields of business in an appropriate direction.

IV.    Taaleri and Responsibility

Through responsibility, Taaleri strives above all to support profitable growth of business operations. Responsibility enables Taaleri to respond to changes in the operating environment, stakeholders’ expectations and business activities. Responsibility is a key factor in improving our company.

Taaleri Plc’s Board of Directors has approved the Responsibility principles governing the entire Group.