Corporate Social Responsibility Policy

Adopted: October 2020

Introduction

Algoteq is cognizant of the potential impact of its activities on its stakeholders – staff, clients, suppliers, the community in general and the environment.

Actively pursuing social responsibility as an adjunct to pursuit of its business targets allows Algoteq’s business interests to be reconciled with the legitimate interests of those varied stakeholders.

This Corporate Social Responsibility Policy (hereinafter, the “Policy”) establishes a framework, from which Algoteq can develop and strengthen socially responsible behaviour within its businesses and relationships with those stakeholders.

This Policy is in addition to and is intended to be complementary to, Algoteq’s other, related policies, as they are developed and adopted, including its:

  • WHS policy – including discrimination, harassment and no-bullying policies;
  • Privacy policy;
  • Anti-trust law compliance policy; and
  • IT, social media and email policies.

Goals

This policy is Algoteq’s voluntary and strategic commitment to the goal of achieving business targets, while complying strictly with Algoteq’s legal and contractual obligations. This Policy seeks to embed principles of equity, human rights and the rejection of anti-social practices and relationships in its business activities.

Algoteq’s goal is to manage its business with the principles of this Policy at the forefront of its decision-making.

Algoteq considers that its commitment to the principles of this Policy will be good for its business and business reputation, and will help Algoteq establish trust with its varied stakeholders.

Principles to be adhered to:

The following principles of action are hereby established as Algoteq’s Policy commitment:

Principle 1 – Compliance with applicable law

Algoteq will endeavour at all times to comply with applicable laws in the jurisdictions in which its business is active.

Principle 2 – Corporate governance

Algoteq is committed to maintaining corporate governance practices based on ethics, truth, business transparency and diversity, respecting the rules of the free market and free competition, and rejecting any illegal, corrupt or fraudulent practice contrary to the rules of good governance.

Principle 3 – Commitment to various human rights

It is Algoteq’s policy to take such action as is legally required, prudent and practicable to:

  1. avoid practices that are discriminatory or damage people’s dignity;
  2. establish a decent, safe and healthy working environment, adopting rules and procedures in the area of work, health and safety;
  3. apply the concept of equal opportunity with all workers and avoiding unlawful discriminatory practices and conduct, bullying, intimidation or violence, in any of their manifestations due to sex, race, creed, religion, age, disability, political beliefs, sexual disposition, nationality, citizenship, marital status or socioeconomic status, in the areas of access to employment, promotion, professional classification, training, compensation, work/life balance and other working conditions
  4. reject child labour and forced or compulsory labour where such practices are identified in clients or suppliers and to avoid engagement with clients and suppliers that Algoteq knows to be involved in such practices;
  5. maintain a working environment that is free of harassment and behaviour that is violent or offensive to people’s rights and dignity, and guarantee that, if it occurs, there are appropriate procedures for dealing with the problem and correcting it
  6. respect its employees’ freedom of union, association and group negotiation and respect the role and responsibilities that apply to the representation of workers in accordance with current legislation;
  7. to pay its employees in a decent manner, adjusted to their skills, responsibilities and duties. Such payment will be aligned with applicable legislation and with conditions in the market where Algoteq operates;
  8. to respect the privacy of individuals with whom it deals and will comply with applicable privacy legislation

Principle 4 – Fiscal responsibility

Algoteq will at all times strive to meet its obligations to clients, suppliers and creditors (subject to applicable contracts), including revenue authorities. Algoteq will not incur financial obligations that Algoteq knows, or ought to know, will not or are unlikely to be, satisfied in full and on a timely basis.

Principle 5 – Environmental responsibility

Algoteq conducts its activity with a firm commitment to contribute, where practicable, to sustainability from an environmental perspective, achieved through efficient management of resources and minimisation of waste.

Principle 6 – Commitment to avoidance of dealings with criminal forces

Algoteq will, itself, comply with applicable laws in the jurisdictions in which it is active.

Algoteq will not, knowingly:

  1. engage directors, officers and employees;
  2. enter into alliances or contractual arrangements with clients or suppliers that

are involved in or who are members of crime syndicates, crime syndicate-related companies, associations, or corporate racketeers

Training and Induction

Algoteq will periodically undertake training sessions for its staff and management personnel, in concert with Algoteq’s allied policies, as they are developed and adopted.

All staff of Algoteq – and all new staff, as part of their induction – will be provided with a copy of this Policy, and will be asked to certify that they have read and accept it.

Accountability

The management of Algoteq will monitor compliance with this Policy.

All staff of Algoteq are accountable to comply with this Policy.

All staff of Algoteq are encouraged to actively pursue the goals and principles set out in this Policy, and to immediately raise with management any concerns, issues or evidence of non-compliance with it.