This Code of Conduct applies to all businesses within the Westfal-Larsen group of companies (hereinafter referred to as «Westfal-Larsen») in which Westfal-Larsen owns more than 50 percent.

Purpose

The purpose of the Code of Conduct is to acknowledge Westfal-Larsen’s ethical commitments and requirements as well as Westfal-Larsen’s expectations to personal conduct and business practice.

Scope

This Code of Conduct applies to all individuals working within Westfal-Larsen, including members of the board of directors, all permanent and temporary personnel, on shore and at sea, in all parts of the world (hereinafter referred to as “employees”).

Compliance

All employees shall comply with the relevant Norwegian and International laws and regulations wherever the companies operate as well as Westfal-Larsen’s policies, guidelines and manuals.

Working environment

Westfal-Larsen has a zero tolerance policy towards discrimination and harassment in any form by or towards any employee.

Westfal-Larsen emphasizes health, environment and safety (hereinafter referred to as “HES”) for its employees, and prioritizes HES activities at the same level as the group’s business activities.

Westfal-Larsen maintains and develops a working environment recognized by co-operation, accountability and employee engagement, which gives a meaningful job situation and encourage learning and well-being.

The employees of Westfal-Larsen shall take responsibility and contribute to a positive working environment for all and treat colleagues and business relations in a prudent manner.

Bribery and corruption

Westfal-Larsen has a zero tolerance policy towards corruption and bribery, and expect their business associates (partners, agents, suppliers, customers, etc.) to operate in the same manner.

The employees of Westfal-Larsen shall not request, receive or accept an offer of an improper advantage in connection with their position, office or assignment or to give or offer someone an improper advantage in connection with a position, office or assignment.

Money laundering

Westfal-Larsen shall comply with all anti-money laundering and anti-terrorism laws wherever the companies operates.

Westfal-Larsen will conduct business with reputable customers and suppliers involved in legitimate business activities with funds derived from legitimate sources.

Record keeping

Westfal-Larsen business transactions shall be reflected accurately and correctly in the companies’ accounts in accordance with relevant laws, established procedures and auditing standards.

Competition

Westfal-Larsen shall seek to compete in a fair and ethical manner, and be aware of and adhere to global competition rules and practices

Integrity

To avoid any conflict of interest, the employees of Westfal-Larsen shall not hold other assignments or duties that can imply to conflicting loyalties or harm Westfal-Larsen’s reputation.

Confidentiality

The employees of Westfal-Larsen shall be committed to absolute confidentiality regarding information related to Westfal-Larsen’s business affairs and any other information that he/she has obtained through the service or work for Westfal-Larsen

Personal data

Westfal-Larsen strictly observes security and the protection of personal information in order to minimize risks and any potential damage and will comply with all relevant laws and regulations in respect of information security and personal data including but not limited to the General Data Protection Regulation (GDPR).

Matters of consern

Whatever situation rising doubts and whenever facing conflict with Westfal-Larsen’s Code of Conduct, the immediate superior shall be notified. A whistleblower routine is available if reporting to immediate superior is not possible or difficult.

Any breach of the Code of Conduct is unacceptable, and may lead to internal disciplinary action, dismissal and criminal prosecution.

Implementation

Introduction to the Code of Conduct forms part of the onboarding process for all new employees at Westfal-Larsen. All existing employees and representatives shall familiarize themselves with the Code of Conduct.