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Code of Ethics

Purpose and scope.

This Code of Ethics serves to summarily present the common principles of PORR Group. It is the foundation for all business transactions and decisions and the moral, ethical and legal basis for the correct behaviour of all employees within the group. It is meant to prevent genuine errors of performance and judgment and to promote the values and principles explained below: All PORR employees are expected to observe these values and principles independent of the type of employee relationship, position within the group or the geographic location of the work being performed. The objective is a further development and optimization of this system as it guarantees a continuous improvement in quality, environmental protection and safety of all areas and activities within the framework of the company principles expressed in this code.

1. Compliance with legal regulations.

All applicable laws, regulations, directives, standards and customs of the land in which PORR operates are strictly observed and adhered to in all business transactions and decisions.

2. Fair competition.

PORR places the highest of priority on transparent and fair conduct on the market. Restrictions of free competition and violations of unfair competition and antitrust laws are incompatible with the company’s philosophy and culture and the self-image of PORR.

3. Bribery and corruption.

PORR fights any form of corruption, bribery and acceptance of inappropriate gifts. It is strictly forbidden for any employee to directly or indirectly offer or accept benefits likely to or capable of making an impression of illegally influencing business transactions.

4. Observing fundamental rights.

PORR does not tolerate any form of discrimination. PORR promotes equal opportunities and equal treatment regardless of colour, nationality, social background, any disabilities, sexual orientation, political or religious beliefs, and sex or age. An individual’s dignity, privacy and personal rights will be honoured. Derogative treatment of employees by means of psychological stress, sexual harassment or similar means will not be tolerated.

5. Personnel training and development.

An important focal point of PORR is the personnel training and development of employees. The objective is to provide, through mutual understanding and appropriate conduct, a strong foundation for customer orientation, environmental awareness and safety consciousness as well as awareness of our company’s social responsibility in society.

6. Community and social commitment.

PORR supports a select group of organisations and institutions with humanitarian, social, charitable, educational or cultural objectives.

7. Customer-oriented conduct.

PORR’s conduct is customer-oriented. PORR’s understanding of comprehensive quality connotation refers to the performance quality - of projects, products or services - adherence to schedules, flexibility and technical and economical target achievement. PORR tries to achieve a high degree of customer benefit and customer satisfaction.

8. Risk management.

PORR promotes sensitivity for strategic and operative risks through a uniform and transparent risk management that assists in early recognition of said risks. The central objective of conscious risk management is knowledge and control of any risks involved (performance, financial as well as environmental and safety risks).

9. Safety and health.

PORR strives to provide a safe and healthy work environment; this requires strict adherence to health and safety regulations and best practices. Systematic monitoring and a responsible approach to dangerous situations – or even to near misses on construction sites – increases staff awareness of occupational health and safety and boosts the preventive effect of accident avoidance measures.

10. Environmental protection.

PORR considers environmental and social issues in all business decisions and in the management of resources and infrastructures. PORR attempts to minimize environmental stress and to continuously improve environmental protection.

11. Business partner.

In selecting a business partner, supplier etc., PORR pays attention to them complying with the principles presented in this Code of Ethics so as to ensure consistent compliance within the group’s entire operation.