Corticeira Amorim SGPS S A : | Equality Plan 2021

EQUALITY PLAN

2021

CORTICEIRA AMORIM, S.G.P.S, S.A.

Equality Plan | 1

*Translation of the Equality Plan 2021 ("Plano para a Igualdade 2021") originally issued in Portuguese language. In case of discrepancy, the Portuguese language version prevails.

INDEX

1. Background	4
1.1. Diagnosis	4
1.2. Priority areas of intervention	6
1.3. Means and Resources	7
2. Equality Plan	9
- Dimension: Strategy, Mission and Values	9
- Dimension: Equal access to employment	11
- Dimension: Initial and Ongoing Training	12
- Dimension: Equality in working conditions	13
- Dimension: Parental leave protection	14
- Dimension: Conciliation of professional, family and personal life	15
- Dimension: Prevention of harassment in the workplace	16

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1. Background

Gender equality is, first and foremost, a matter of human rights and social justice.

The labour sphere is one of the dimensions in which equal rights and responsibilities, opportunity, participation, recognition, and valorisation are fundamental conditions. The world of work reflects and contains many of the aspects that structure, guide and organise everyday life in society. It is an established fact that gender issues are largely not originated by factual and objective aspects. They reflect social and cultural constructions that only an intentional, concerted, profound and continuous effort can change and evolve over time.

The labour context, as in society at large, presents challenges that go beyond the social stereotypes of female or male professions. Companies tend to be a mirror of society, in which women's participation is generally unequal, where there is an income gap between men and women, and where managerial positions are mostly occupied by men.

This is an indisputable reality that has to be acknowledged and changed. Diversity and inclusion are currently fundamental issues, the subject of legislation and rules as well as the focus of an effective commitment to change and adopt the best practices. This is not just a legal and social obligation.

In terms of business management, the evidence suggests that companies with diversity and inclusion policies and practices are more likely to achieve positive results. Studies show that companies with these characteristics are 33% more likely to have success, and there is also statistical evidence that those with gender diversity are 21% more profitable (McKinsey & Company).

Companies that invest in diversity attract the best professionals. Moreover, they generate more satisfactory working environments, improve their decision-making processes, and have better relationships with their external stakeholders. Gender-balanced workplaces are more creative and innovative environments where male and female employees develop a greater sense of belonging. This type of organisation also performs better in terms of attracting and retaining talent.

However, establishing or achieving gender balance goals is not enough: it is necessary to support policies that allow the reconciliation of professional and family life of both genders, in order to protect and ensure the continuity of the family as the basic foundation stone of any community.

1.1. Diagnosis

About 25% of the approximately 4,400 Corticeira Amorim employees spread all over the world, are women.

(Sustainability Report 2019)

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The domination by the male gender is explained by the long history of this industry. Although the industry has been undergoing a process of major technical, technological, and organisational transformation for some years, it is emerging from a history of manual and heavy work in which the structuring of the industrial work was based on a set of workstations where physical build, robustness and capacity were considered fundamental attributes. The lighter functions, on the other hand, were mainly aimed at women. This gender stereotype was in force for many decades, leaving its mark on an organisation where employee turnover was always - and still is - relatively low and where length of service is high (currently at an average of 15 years).

If we analyse the different functional areas of the company, we find that the underrepresented gender is consistent with the general ratio of women in the company. There is, however, a marked decrease of women's representation in management positions compared to the global average. This underrepresentation is only not found in the administrative area, thus corroborating the effect of social stereotypes of professions.

(Obtained from the 2019 Sustainability Report - Corticeira Amorim)

These ratios reflect the typical behaviour of a century-old manufacturing industry linked to a traditional sector.

Specifically in relation to Corticeira Amorim, SGPS, S.A., a publicly traded company, in response to the challenges arising from its multinational and multisectoral activity, the management of Corticeira Amorim advocates a Policy for the Promotion of Diversity within Governing Bodies, in particular the Board of Directors and the Supervisory Board, as a way of achieving this:

• Promote diversity in the composition of the respective body;
• Enhance the performance of each member and, jointly, of each body;
• Stimulate comprehensive, balanced and innovative analysis and, consequently, allow informed and agile decision-making and control processes;
• Contribute to the increase of innovation and self-renewal of the Company, for its sustainable development and creation of value for the Shareholders and other Stakeholders in the long term.
• Corticeira Amorim thus recognises the need to continuously promote diversity in its corporate bodies, particularly in the Board of Directors and the Supervisory Board, particularly in the following areas:
• Adequate academic qualifications and professional experience relevant to the performance of the specific corporate position which, in the respective corporate body as a whole, gather together the necessary competences to ensure the capable performance of the role of that body;
• Inclusion of members from different age groups, combining the know-how and experience of older members with the innovation and creativity of younger members, so as to enable the respective body to steer towards an innovative business vision and prudent management of risks;
• The promotion of gender diversity and, consequently, an adequate balance of sensitivities and style of decision-making within the respective body.

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In the end of 2019, these bodies had the following composition:

The composition of the Board of Directors remained unchanged at the time this plan was drawn up. In relation to the Supervisory Board, the Substitute member (female) was elected at the General Meeting, meaning that, if the newly elected member is considered, it has equal composition in terms of gender.

1.2. Priority areas of intervention

The diagnosis on which the Objectives and the Gender Equality Plan were based used as their primary sources Corticeira Amorim's Annual Sustainability Reports, which have been prepared and audited in accordance with the Global Reporting Initiative (GRI) benchmarks, the analysis of the results shown in the reply to the Guide for the Preparation of Equality Plans and also the results of taking part in international surveys, namely those on this subject (e.g. EQUILEAP 2020- Gender Equality Global Report & Ranking). All these inputs show that Corticeira Amorim's priorities are increasingly clear in this regard, and are implemented overall by four axes of intervention:

• Internal and external commitment of the Organisation to gender balance issues, setting objectives and targets and ensuring their monitoring;
• Raising awareness, involving and training management and all employees on the issue of gender equality in companies, in order to ensure the evolution of practices in this field;
• Increase the number of women in management positions;
• Increase the number of women working as employees of the company.

These four axes are based on the general principle of equality between men and women in terms of work and employment and they imply:

• the right to equal access to work, employment, vocational training and career progression;
• the guarantee of equal pay;
• the removal of labour market segregation;
• the balanced participation in work and family life, with equal sharing of tasks between fathers and mothers, particularly as regards maternity and paternity protection and family assistance;
• the stimulation of training and learning with a view to personal and professional development;
• the enhancement of social dialogue and participation, in particular through their representatives;
• ensure the respect for dignity in the workplace by drawing attention to, detecting and settling possible situations which are not aligned with this principle;

These are the axes and principles that guide the company's actions in establishing a set of objectives, made effective in the Equality Plan.

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1.3. Means and Resources

The company is aware that this is a long-term task and that only new procedures and processes, as well as the adoption of systematic and continuous practices can give rise to structural changes in behaviour and the culture.

In this context, it was decided, in addition to that defined in the Equality Plan, namely its objectives and measures, to create an Executive Group for Gender Equality. This Group will bring together different areas of the company with responsibilities in different fields and with specific tasks but which are interlinked, in some way, with gender issues. The Executive Group for Gender Equality will have representatives from the areas of Governance, Corporate Human Resources, Corporate Sustainability, Legal (2) and Internal Audit. It has six members and gender parity is guaranteed.

This Group will be responsible for the annual proposal of objectives to be presented to the company's Board of Directors, as well as for holding half-yearly meetings to follow up on the Equality Plan and any proposals for evolution. This Group will also liaise with the different Business Units to monitor the implementation of local actions.

The company, taking into account these priorities and lines of action, has built an approach that is embodied in, among others, the Equality Plan that is detailed below.

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2. Equality Plan

Dimension: Strategy, Mission and Values

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
	Inclusion in the Code of Ethics and Professional
	Conduct (which is one of the annexes in any
	employment contract), the principles of gender
	equality and non-discrimination, namely in the
	following chapters and points:
	- Chapter I - General principles
	. 1.1. Compliance with Law and International					Strategic documents -
	Conventions				Strategic documents -
				Code of Ethics and
	- Chapter III - Communication and				Code of Ethics and
		Corporate Human		Professional Conduct - has
	Transparency			Professional Conduct -
	The Board of Directors	Resources/ Legal/	No specific costs	set equality between	Accomplished
	. 5. Harassment	advocates equality between
	. 11. Relations between Employees		Governance Area		women and men as a	women and men as a
				benchmark by the end of
	. 12. Principle of equal treatment and				reference value
				2020
	opportunities
	. 13. Diversity, inclusion and non-discrimination
	. 14. Professional achievement and
	development
	- Chapter VIII - Validity / adherence and
	communication of irregularities concerning the
	code of ethics and professional conduct
Internal and external	Definition, disclosure and implementation of a
whistleblowing procedure that is safe and has the				Disclosure of the	Disclosure of the
commitment to the promotion
absolute guarantee of personal data protection, for	The Board of Directors		No specific costs	Whistleblowing Procedure in	Accomplished
	Whistleblowing Procedure
of equality between men and	reporting corruption, harassment and other				2020
women
inappropriate behaviour;
	Conduct a specific communication campaign on	Executive Group for Gender	Corporate	To be determined	Online campaign	Online campaign until end of
	the website www.amorim.com	Equality	Communication	June 2021
	Disclosure of the Equality Plan on the internal	Corporate Human	Corporate		Disclosure of the Equality	Disclosure of the Equality
	No specific costs	Plan on the company's
	website (Linkpeople)	Resources	Communication	Plan
		website
					Strategic documents -	Strategic documents -
	Inclusion of the commitment to promote gender				(Company's Sustainability	(Company's Sustainability
				Policy and Annual	Policy and Annual
	equality in the strategic objectives of the company	Corporate Sustainability	Corporate Human
	No specific costs	Sustainability Report refer to	Sustainability Report refer to
	for the Social pillar, in the company's sustainability	Area	Resources		the goal of increasing the	the goal of increasing the
	policy
				number of women in	number of women in
					management positions	management positions

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			Corporate Human
			Resources,
	Creation of the Executive Group for Gender		Legal Area,		Executive Group for Gender	Executive Group for Gender
	The Board of Directors	Corporate	No specific costs	Equality with competences	Equality with competences
	Equality (EGGI)
		Sustainability,		defined in 2021	defined on 15 January 2021
			Audit,
			Governance Area
					Management tools with	Management tools with
	Ensure the half-yearly monitoring and reporting of				consolidated statistical data
Ensure the implementation of				consolidated statistical data
the objectives established for the year 2021 for the	Executive Group for Gender	The Board of		disaggregated by Business
the Equality Plan, its monitoring,	monitoring of the Executive Committee and the	No specific costs	disaggregated by Business	Unit and with information on
follow-up and its evolution	Board of Directors, in specific meetings on the	Equality	Directors		Unit and with information on	the status of each objective
	subject				the status of each objective	of the Gender Equality Plan
				of the Gender Equality Plan
					appraised every half-year
	Monitor the Business Units in the implementation	Corporate Human			Management tool with	Management tool with
			Business Unit statistical data
	of general and local measures, and in their quarterly	Resources and Human			Business Unit statistical data
		No specific costs	and status information
	reporting and monitoring to the respective	Resources Departments of			and status information	regarding each objective,
	Executive Management.	the Business Units			regarding each objective
			appraised quarterly
	Launch of an internal information and awareness					Hold Workshops for
	raising campaign. "Talent has no Gender" aimed at				Hold Workshops for
				Management by end of 2021
	all Employees (includes the holding of top down				Management
	Human Resources	Corporate
	workshops with management on Gender Equality)	To be determined
	Departments	Communication
	to raise awareness on gender stereotypes and
					Conduct the Campaign -
	biases.				Conduct the Campaign
				March 2021
Internal commitment and
Distribute internally a brochure on the Code of					Distribution of Brochure to
involvement of male and female	Ethics and Professional Conduct, including	Corporate Human	Corporate		Distribution of Brochure to
5000	all Employees by February
Employees regarding gender	specific focus on gender and non-discrimination	Resources Department	Communication	all Employees
	2021
and diversity issues, as well as	issues and topics.
ensuring their alignment and
action to achieve the objectives
of the Equality Plan				No specific costs
	Ensure the disclosure of gender equality statistics				Publication of the
	Corporate Sustainability		(already included	Publication of the
	in the Sustainability Report and their calculation		Sustainability Report - each	Done in 2020
	Area		in another	Sustainability Report
	procedures.		year
			project)
	Include the topic of gender equality in meetings	Administration/HR	Workers'		Record the subject in the	Record the subject in the
	between the Board of Directors or HR	No specific costs	minutes, at least one
	Department	representatives	minutes
	Department and workers' representatives.		meeting a year
						Institutional communication
	Use neutral, inclusive and non-discriminatory		Human Resources		Institutional communication	(physical or digital) with
		Departments		(physical or digital) with	inclusive and non-
	language (written, unwritten and visual) in internal	The Board of Directors	To be determined
Recognise and integrate equal	Corporate	inclusive and non-	discriminatory language, in
and external communication processes
	Communication		discriminatory language	content disseminated from
visibility of women and men in all
					2020 onwards
forms of language, internally and
externally
	Conduct a specific campaign on gender equality		Corporate Human			Conduct Campaign by the
	Corporate Communication	Resources	To be determined	Conduct Campaign
	on the company's institutional website	end of 2021
		Department
Ensure that male and female	Disclose the company's commitment to Gender		Corporate			Publication on the website
employees are informed of their	Corporate Human	No specific costs	Publication on the website
rights and duties in the area of	Equality on the "People" microsite (mainly geared	Resources Department	Communication	at the time of its new release
towards recruitment and employer branding)	Department			(January 2021)
equality and non-discrimination

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Dimension Equal access to employment

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
	Ensure that the underrepresented gender is
	always present on the final list of three final					Recommendation created
	candidates for management positions and for	Human Resources		No specific costs	Recommendation created	and disseminated by all	Accomplished
	positions which register a gender imbalance, and in	Departments		Human Resources
	a situation of equal scores, give priority to the					Departments
	underrepresented gender.
Contribute to a fair and			Human Resources
		Departments of
objective selection and	Conduct training on recruitment and selection
Corporate Human	the Business Units			Conduct Training Course -
recruitment process for men	procedures without gender bias for people in	To be determined	Conduct Training Course
and women	charge of selection interviews and recruitment	Resources Department				1st half of 2021
	Recruitment
			Officers
	Explain the principles of equal opportunities in the		Corporate
	external recruitment processes, on the "People"	Corporate Human		Disclosure in the	Disclosure in the
	Communication	No specific costs
	microsite of the company (geared towards	Resources Department	advertisement	advertisement
	Department
	employer branding and recruitment)
Promote internal gender	Encourage applications from the					Recommendation created
desegregation and a better	Human Resources
underrepresented gender in internal recruitment				and disseminated by all
balance between the number	Departments of the		No specific costs	Recommendation created	Accomplished
announcements, specifically mentioning this in the		Human Resources
of women and men in the	announcement text	Business Units				Departments
company

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Dimension: Initial and Ongoing Training

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
					Hold Workshops for
	Launch of an internal information and awareness	Corporate Human	Corporate		Management
	raising campaign. "Talent has no Gender" aimed at	To be determined		Conduct Campaign - March
	Resources Department	Communication
	all Employees			2021
					Conduct the Campaign
Promote a culture of equality
Conduct training for managers specifically in terms
between men and women by			No specific costs
favouring work management	of performance assessment, aimed at raising	Human Resources
	(already covered		Training Course Completed
practices aligned with such	awareness and reducing subjective elements of	Departments of the		Training Course Completed
	gender-based discrimination in performance	Business Units		in a global training		in full by end of 2021
		project)
	assessment processes
	One hour top down workshops with management	Human Resources			Hold Workshops for	Hold Workshops for
	on gender equality to raise awareness about	Departments of the		To be determined	Management - by end of
		Management
	gender stereotypes and bias;	Business Units			2021

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Dimension Equality in working conditions

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
	Establish a specific analysis grid in the processes of
Promote equality between	professional development that recognises in an
equal manner the competences of male and		Human Resources			Analysis methodology and
women and men in the field of	Corporate Human		Analysis methodology and
female employees (academic qualifications,	Departments of	No specific costs	grid defined in December
professional advancement and	Resources Department	grid defined
professional training and acquired competences)	the Business Units		2020
development	in the processes of promotion and career
	progression.
	Submit as candidates to the national programme		Human Resources
	women identified as having high potential for senior	Human Resources			Number of women selected
	Departments of	No specific costs	Number of women selected
Encourage the balanced	positions in the Organisation, at the CIP	Departments	the Business Units			= 2
"PROMOVA" 2nd edition
participation of women and
men in decision-making
positions
	Half-yearlyfollow-up of the "Women in	Executive Committee for	Human Resources		percentage of women in	23% in 2020
	Management Positions" indicator in the Executive	Departments of	No specific costs	24% in 2021
	Gender Equality	management positions
	Committee and Executive Management	the Business Units
	Establish a partnership with higher education		Human Resources
	institutions in order to promote the interest of		Departments of
Promote equality between	students in areas of study that allow career		the Business Units
opportunities in the company or its sector of	Corporate Human	and Management		Number of participations in
women and men in career	No specific costs	2 participations in 2020
development	activity, taking into account the objective of	Resources Department	staff of the		the year
balanced representation of women and men in the		company
	different professions and sectors of economic		participating in the
	activity		events
	Ensure the follow-up of the indicator (already
	created as part of the response to the				Specific and detailed analysis	Specific and detailed analysis
	GRI/Sustainability Report) set up to monitor basic	Sustainability and Human			of the indicators concerned,	of the indicators concerned,
	and supplementary pay for women and men to	Resources Area (Corporate		No specific costs	with indication of	with indication of	Accomplished
	ensure that there are no disparities or, if disparities	and Business Units)			recommendations, in each	recommendations, in each
	do exist, that they are free from gender				year	year
	discrimination
Ensure the principle of equal
pay for identical work or work	Regularly carry out job analysis and wage	Human Resources
of identical value				Carry out one study by
comparison studies to monitor deviations and	(Corporate and Business		No specific costs	Carry out one study per year
		December of each year
	implement possible corrective measures	Units)
	Systematically assess the satisfaction of male and	Human Resources	All male and female		A study with
	female employees (e.g. in climate surveys),		Carry out one study by	Study carried out
	Departments of the	Employees of the	7500	recommendations every 2
	considering the aspects of equal treatment,	December 2021	in 2019
	Business Units	Company		years
	including non-discrimination in terms of gender

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Dimension: Parental leave protection

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
Guarantee the right to	Keep the chapter on parenting legislation up-to-	Human Resources			Complete, up-to-date and	Complete, up-to-date and
parental leave for male and	Department of the Business		No specific costs	user-friendly content on	user-friendly content on
female employees	date on the Linkpeople internal network	Units			parental leave legislation	parental leave legislation

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Dimension: Conciliation of professional, family and personal life

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
	Assess the satisfaction of male and female	Human Resources	Male and female	No specific costs	A study with
	employees in a systematic way (e.g. in climate	Carry out one study by
	Departments of the	employees of the	(in common with	recommendations every
	surveys), considering the aspects of conciliation of	December 2021
	Business Units	company	another measure)	two years
	professional, family and personal life
	Improvement and increase of protocols and				Number of type of protocols	Conduct at least one more
	Corporate Human			and/or agreements	protocol on health and/or
	agreements allowing access to goods and services		No specific costs
	Resources Department		concluded in the reference	education services by the
	on beneficial terms				year	end of each year
Promote the conciliation of the
professional life with the family
and personal life of Employees
	Implementation of a platform for management and				Implementation of the	Implementation of the
	communication of benefits: health insurance,				platform by March 2021 and
	Human Resources	Corporate	10000	platform and Percentage of
	curative medicine in the company, protocols and	Departments	Communication	Employees using the	Percentage of Employees
	agreements that allow access to goods and		accessing the platform over
				protocols
	services on beneficial terms				50% in 2021
	Implementation of a specific, voluntary	Human Resources		No specific costs	System in force	System in force from March
	teleworking scheme for roles which permit this	Department		2021

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Dimension: Prevention of harassment in the workplace

Objectives	Measures	Responsible for	Areas involved	Investment	Indicators	Target	Observation
Implementation	Estimate
	Existence of point 5. Harassment in Chapter III of				Specific point on	Specific point on
		Human Resources,		harassment at work in the
	the Code of Ethics and Professional Conduct,	Corporate Human		harassment at work in the
	Legal Area,	No specific costs	Code of Ethics and	Accomplished
	which aims to prevent and combat the different	Resources Department	Code of Ethics and
	Governance Area		Professional Conduct -
	forms of harassment in the workplace			Professional Conduct
				2020 version
Prevent and combat
harassment at work
Prevent and combat the	Establish a specific procedure for complaints				Define and Establish	Define and Establish
Administration / Supervisory	Human Resources		Procedure in the Code of	Procedure in the Code of
practice of other offences	concerning discrimination and/or harassment at	No specific costs	Accomplished
against physical or moral	work.	Board	/ Legal Area		Ethics and Professional	Ethics and Professional
			Conduct	Conduct - 2020 version
integrity, freedom, honour or
dignity of the male or female
employee
	Analyse, follow up and implement actions following				Number of complaints
	up on reports of harassment made by the means	Legal Area / Supervisory		No associated	All complaints with follow-up
		registered with follow-up
	provided for in the Whistleblowing Procedure of	Board		specific costs	and reply process
		and reply process
	the Code of Ethics and Professional Conduct

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Corticeira Amorim, S.G.P.S, S.A.	Edifício Amorim	+351	227 475 400 T
	Rua Comendador Américo Ferreira Amorim 380	+351	227 475 410 / 11 F
	Apartado 20	[e-mail]
	4536-902 Mozelos

Sociedade Aberta Capital Social € 133.000.000,00 Pessoa Colectiva e Matrícula Nº 500 077 797