Code of Ethics

Grupo IP | Código de Ética 2.1. GENERAL All IP Group employees are required to perform their duties based on the following standards of conduct: • Compliance with legislation in force; • Upholding the public interest; • Equal treatment, mutual respect and non- discrimination, namely, owing to age, gender or sexual orientation, nationality, ethnicity, genetic heritage, civil status, family situation, limited work capacity, disability, illness, religious, political or ideological beliefs, union membership, as well as any other factors that could in any way constitute any form of harassment or abuse of power; • Loyalty and transparency; • Focusing on achieving the results set out for their role and functions; • Maintaining the confidentiality of the information they acquire while performing or as a result of their professional activities, including with regard to family and friends; 7 • Promoting and safeguarding the name and reputation of the IP Group and its brands and combating disinformation. 2.2. EXTERNAL While interacting with the following entities, IP Group employees must act as follows: • Compliance with legislation in force; • Upholding the public interest; • Equal treatment, mutual respect and non- discrimination, namely, owing to age, gender or sexual orientation, nationality, ethnicity, genetic heritage, civil status, family situation, limited work capacity, disability, illness, religious, political or ideological beliefs, union membership, as well as any other factors that could in any way constitute any form of harassment or abuse of power; • Loyalty and transparency; • Focusing on achieving the results set out for their role and functions; • Maintaining the confidentiality of the information they acquire while performing or as a result of their professional activities, including with regard to family and friends; 2.2.1. Shareholder, Regulatory Entities and Auditors • Cooperate actively and fully with these entities, 2. Standards of Conduct