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CHAPTER 6 | GOVERNANCE AND MONITORING OF CORPORATE ETHICS AND RISK

aimed at compliance with the Chinese legislation
in force in matters of privacy, recently updated The Group’s ethical principles
with the “Personal information protection law
(Pipl)” and which is likely to be implemented The 9 principles of the Code of Ethics which underpin the governance
during the first half of 2022. and the management of the Group’s activities:

The Code of Ethics l Legality, loyalty and probity l Prevention of conflict of interests
The Group’s Code OF Ethics, updated in 2018, l Respect for the individual and l Integrity and the fight against
summarises all elements on which the company’s development of our personnel corruption
identity and culture is based, and to which all l Safeguarding health and safety l Transparency and anti-money
subjects must adhere who act in the name of or and the environment laundering
on behalf of the Group and, in various ways and l Social accountability l Freedom and duty to report
at various levels, maintain relationships with the l Safeguarding the trademarks, violations
various companies. The main recipients, who patents and original works
are explicitly referred to, are: the Directors, the
Statutory Auditors, all the employees of all the The Code of Ethics may be consulted by accessing the Communications area
companies in the Ratti Group, all freelance workers, of Ratti’s self-service human resources portal or the website www.ratti.it
all external collaborators (consultants, trading in the section: “Investitori / corporate governance / procedure e codici”
partners, agents) and suppliers. (Investors / corporate governance / procedures and codes).

The Code stipulates the rules of conduct that
recipients must follow when conducting corporate
business and activities, and when managing
people and information. In order to manage
any reports of violations of the Group’s Code of
Ethics a procedure has been defined that is valid IN ORDER TO BOLSTER THE ROLE OF ITS
for all the Group’s companies. This identifies the CODE OF ETHICS, RATTI ESTABLISHED A
operating modality and the rules to follow. GROUP ETHICS COMMITTEE.
ITS TASK WAS TO ENSURE THE
The Remuneration Committee CONSISTENT APPLICATION OF THE
The Remuneration Committee, in accordance with GROUP’S ETHICAL PRINCIPLE.
the Code of Corporate Governance, consists of
non-executive independent directors. It evaluates
the consistency and application of the policy for The Ethics Committee
remuneration of directors and executives with In order to bolster the role of its Code of Ethics,
strategic responsibility, formulating proposals or Ratti established a Group Ethics Committee.
expressing opinions on the matter. This was carried out through a resolution of the
The Remuneration Committee has been given Board of Directors for the whole of the period
the task of: stipulated for its appointment. Its task was to
ensure the consistent application of the Group’s
l Assisting in the development of remuneration ethical principles, spreading these principles
policy; and investigating and managing any reports of
violations or requests for clarification.
l Presenting proposals or expressing views on
the remuneration of executive directors and Appointment as members of the Ethics
other directors who cover particular roles, Committee depends on the satisfaction of the
as well as setting performance objectives individual requirements of honesty, integrity,
relating to the variable component of that respectability and independence, as well as
remuneration; the absence of any reason for incompatibility
with the appointment in question, such as, for
l Monitoring the practical application of example, a potential conflict of interests with the
the remuneration policy and, in particular, role and the duties associated with the position.
verifying that the performance objectives
have been reached; All recipients of the Group’s Code of Ethics,
should they become aware of situations which,
l Periodically evaluating the adequacy and either actually or potentially, could represent a
overall coherence of the remuneration policy significant violation of the Code of Ethics, must
for directors and top management. communicate this to the Ethics Committee in a

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