The Compliance Policy of Recoletas Group expresses its commitment to the Strict compliance with the laws and regulations in force. The commission of criminal and irregular acts is prohibited, identifying the activities within the scope of which offences may be committed that must be foreseen.

Both the management and employees of the Recoletas Group are aware of the objectives established in relation to the Compliance Policy and assume them in their daily work, so as to minimise the organisation's exposure to the risk of non-compliance.

The Recoletas Group's Compliance Policy aims, through the policies, procedures and other tools that comprise it, to create, promote and maintain an culture of good practice and business ethics that is consistent with the aims of the organisation. The Policy is developed with reference to the principles and values that characterise Grupo Recoletas.

As a central element, Grupo Recoletas has a Code of EthicsThe aim is to guide the activities of the Group's members, so that they identify the company's principles and values as their own, and compliance with them is mandatory.

In order to ensure the proper functioning of the Compliance Policy, the Recoletas Group has a Compliance Committee. This Committee, endowed with independence and authority, is available to respond to any queries that may arise in relation to regulatory compliance, and is in charge of managing the Ethics Channel, being responsible for the Group's internal information system.

Through the Ethical Channel, The tool is configured on the basis of the Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons reporting breaches of Union lawas well as in the Law 2/2023 of 20 February on the protection of persons who report regulatory offences and the fight against corruptionthrough which communications may be made regarding possible irregular conduct that may be taking place and of which they are aware.

Anonymity and the principle of non-reprisals against whistleblowers as well as the presumption of innocence of the accused are guaranteed.

In order to facilitate understanding and knowledge of the Compliance Programme, we carry out appropriate training sessions for Recoletas Group staff, depending on existing needs.

Through all these elements, the Recoletas Group reflects its commitment to business ethics, transparency and good practiceand the continuous improvement of its management systems.