EXMAR : Compliance Model 2020

	Exmar	03.12.2020

Compliance Model

Approved by the Board of Directors of EXMAR on 3 December 2020

Table of Contents
Introduction	......................................................................................................................................................	4
Chapter 1:	General Principles...................................................................................................................	5
1.1	Corporate Governance Charter and Corporate Governance Statement ...............................	5
1.2	Code of Business Ethics................................................................................................................	6
1.3	Dealing Code...................................................................................................................................	6
1.4	Audit Charter....................................................................................................................................	7
1.5	Compliance Model Principles........................................................................................................	7
1.5.1	Control Environment: COSO 2013........................................................................................	7
1.5.2	Compliance Model Coverage.................................................................................................	8
1.5.3	Continuous improvement........................................................................................................	9
Chapter 2:	Compliance Model ................................................................................................................	10
2.1	Compliance Risk Universe ..........................................................................................................	10
2.1.1	Structure..................................................................................................................................	10
2.1.2	Key Risk Officers....................................................................................................................	10
2.2	Compliance Risk Assessment ....................................................................................................	10
2.2.1	General....................................................................................................................................	10
2.2.2	Risk Assessment Criteria Matrix (RACM) ..........................................................................	11
2.2.3	Reporting of risks ...................................................................................................................	11
2.3	Compliance policies......................................................................................................................	11
2.4	Watch Structure - Audit Committee...........................................................................................	12
2.4.1 Function, composition and appointment...................................................................................	12
2.5	Whistleblowing ..............................................................................................................................	12
2.6	Addressees...................................................................................................................................	13
2.7	Non-ComplianceEvent ................................................................................................................	13
2.7.1	Compliance Model Update ...................................................................................................	13
2.7.2	Mitigation of damages ...........................................................................................................	13
2.8	Disciplinary System ......................................................................................................................	13
2.8.1	General Principles..................................................................................................................	13
2.8.2	Sanctions and disciplinary measures .................................................................................	14
Chapter 3: Training and communication ...............................................................................................	16
3.1	Internal training and communication..........................................................................................	16
3.1.1	Declaration..............................................................................................................................	16
3.1.2	Need for additional training ..................................................................................................	16
3.2	Communication to third parties...................................................................................................	16
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Chapter 4:	Specific Compliance Control tools......................................................................................	17
4.1	Compliance Control Inventory.....................................................................................................	17
4.1.1	Set up.......................................................................................................................................	17
4.1.2	Fundamental principles of the Control Inventory ..............................................................	17
4.2	Control Assessment .....................................................................................................................	17
4.3	Control gap remediation...............................................................................................................	17
Annexes: ........................................................................................................................................................	18

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Introduction

EXMAR expressed the need to adopt an organizational, management and control model to comply with the worldwide leading legislations and practices on corporate governance and prevent offences against competition/anti-trust laws, conflicts of interests, Insider transactions, financial statement fraud, fraud and corruption, health and safety legislation, environmental protection, information management, protection of individuals and privacy legislation.

Examples of relevant laws include the Foreign Corrupt Practices Act of 1977 (FCPA), the UK Bribery Act 2010, the Italian Legislative Decree 231/2001 of June 8, 2001 (Model 231) and the Privacy legislation (Italian Legislative Decree 196/2003, European Commission Directive 95/46/EC on data protection (Data Protection Directive) and Directive 2002/58/EC, and the Belgian Privacy Legislation) and underlying regulation for certificates like ISO14001, OHSAS 18001 etc.

This Compliance Model (hereafter 'The Model') is approved by EXMAR's Board of Directors ('the Board') and is designed to have the compliance function embedded in all levels of the company and integrated in the interaction with third parties. The Model will be reviewed from time to time by the Board and amended if necessary.

To ensure a permanent state of compliance, the Model's foundation is structured around continuous improvement by a yearly risk- and control assessment taking into account the changes in organization, legislation, findings of internal audit activities etc.

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