CORPORATE GOVERNANCE

CONFLICT OF INTEREST

The company aims to reduce conflicts of interest situations that may arise from the company’s business process. The company follows a procedure that includes clear examples of interest conflict situations and ways to address them. Any member of the Board shall notify the Board of Directors of any personal interests that the Board member may have in the business and contracts related to the company’s business. Such notification is recorded in the minutes of Board meetings and the member that has an interest in a certain business is not allowed to vote on a Board resolution on that subject. The Chairman of the Board shall also notify the General Assembly upon meeting regarding the businesses and contracts for which a member of the Board of Directors has a personal interest along with a special report from the Auditor on the subject.