When a company adopts a Code of Ethics, this represents a moment of maturity and is a time to reflect on its mission and the values that determine the economic and social action of a business. It is above all a commitment undertaken by all of us, managers, employees and those who work with the Granterre-Parmareggio Group, towards the players acting within the company. A choice that the Group made in 2008 with the adoption of the Model in Legis. Decree 231/2001, of which the Code of Ethics is an integral part. The company renewed this choice in 2011 with the approval of the Boards of Directors on 3rd November 2011.

Right from when it was established, in 1959, the action of the Group was based on adherence to cooperative values that still permeate it, along with the compliance with the values established by the Constitution and the laws of the State.

The purpose of the document is to spread and extend the same set of values inside and outside the Granterre-Parmareggio Group, so that it always represents a reference for any decision that needs to be made, at any level - so that these decisions are always made in accordance with the regulatory framework and the culture in which the companies of the Group identify themselves.

It is the company's interest to manage every relationship with utmost fairness, transparency and loyalty, since this is the only way that the best mutual growth opportunities can be achieved.

This Code of Ethics is integral part of the Organisation, Management and Control Model regulated by Italian Legislative Decree 231/01.

Parmareggio SpA's stakeholders (shareholders, directors, employees, collaborators, etc.) can report any violation or suspect violation of the Code of Ethics to the Supervisory Board.

Confidentiality of the reporting party's identity is ensured, without prejudice to legal requirements, in order to prevent any form of retaliation that would give rise even to the mere suspicion of being a form of discrimination or penalisation.

Reports can be sent in hardcopy to:

	In allegato il "Codice Etico del Gruppo Granterre" approvato all'unanimità dai Consigli di Amministrazione di tutte le società del Gruppo, scaricabile in versione pdf.

	Attached is the "Granterre Group Code of Ethics" unanimously approved by the Board of Directors of every subsidiary of the Group, which can be downloaded in pdf format.