Introductory address

Banking business is now changing and evolving much faster than in the past. We are witnessing innovative marketing ways at every step. The market in which we operate is becoming increasingly complex, and competition is increasing. Therefore daring measures for success in the business world cannot be avoided. We set high demands on innovative services, so we have to act with absolute integrity and earn the trust of all; customers, employees and the environment. By setting the highest standards we want to be responsible and show respect for all those who share our mission.

Our aim is to promote in the NLB Group the idea that the final solution should be best for all participants in all groups in which we work. We very much appreciate the objectives and open communication. Every day we focus on our clients and and understand their needs and desires. We are dedicated to working in the area of social responsibility. Operating with integrity and responsibility is a key element of our corporate culture. It is not only important to achieve business goals, is also an important way to achieve them.

The NLB Group Code of Conduct sets the standards and rules of conduct that apply to all of us, regardless of the job or location, as well as for the contractors acting on behalf of the NLB Group.

The Code describes the values and the basic principles of ethical business conduct that we respect, promote and expect in the NLB Group.

Our values and beliefs support our long-term goal which is to constantly improve the culture of our daily operations, which is essential for achieving the long-term trust in countries in which the NLB Group is present.

The NLB Group demands that every employee, regardless of their job or location of work, as well as every other stakeholder of the NLB Group, live in accordance with the highest standards of integrity in everything they do. The key for achieving these standards is strong culture of compliance practiced by the NLB Group, with due diligence of all employees in accordance with its policies, rules and other internal acts and in line with the relevant legislation and regulations in the legal environments in which the NLB Group operates.

The Code will have positive effects only if he fully dedicate every day. Our motto should be what is "right" and not just what is permissible. Operating with integrity in their daily business operations is vital to sustainable business success and reputation of the Group.

The Management Board and Supervisory Board of NLB d.d. as well as the management companies of the NLB Group fully support the Code and are fully committed to respecting it. In relationships with the clients, we are fair and respectful, and we act in the same manner in our relations with partners and colleagues. In this manner, the NLB Group carefully builds partnerships.

With this Code we renew our commitment to act honestly every day.

Management Board of NLB d.d.