BRAND MASTERS - CODE OF CONDUCT SUPPLIERS

Brand Masters is doing business with a wide range of suppliers: from international multinationals to local companies and service providers. They all have one common premise: Before doing business with Brand Masters, suppliers are required to accept and act according to this Code of Conduct.

This Code of Conduct reflects our respect to internationally agreed standards. Our suppliers are selected and evaluated beyond the basis of economic criteria. We also look closely at environmental protection, compliance with human rights, labor and social standards as well as anti-discrimination and anti-corruption policies.

Brand Masters wants to partner with suppliers to further develop their sustainability performance in its supply chain. We expect our suppliers to fully comply with applicable laws and to adhere to internationally recognized environmental, social and corporate governance standards (ESG standards). We also expect our suppliers to use their best efforts to implement these standards with their suppliers and subcontractors. Inspired by the United Nations Global Compact initiative, the United Nations Guiding Principles and Human Rights, the International Labour Organization's Declaration on Fundamental Principles and Rights at Work, and other national legislation our Supplier Code of Conduct represents our understanding of these ESG standards.

Our Code of Conduct is fundamental to our partnerships with our suppliers. We believe that if we do it together, we enable responsible and sustainable growth.

1. Corporate responsibility & Ethics

Our business model is based on integrity, trust, ethical behaviour and fair negotiations. It is not the intention to put any pressure on production facilities which could result in social circumstances at any level within the supply chain which are below the international standards. We encourage suppliers and other business partners to contact us at any time if they feel this is the case and we will take appropriate actions.

We do not tolerate any acts on corruption, extortion, embezzlement or bribery.

Discrimination and gender: We continuously work to eradicate discrimination from the production and supply chain and to achieve equal rights, opportunities and wages for women, minorities and other groups suffering discrimination in the production or supply chain.

We expect from our suppliers they:

• Take measures to ensure that all employees have the same rights and opportunities;

• Protect pregnant employees, for example by promoting childcare and paid maternity leave with return guarantee;

• Inform Brand Masters immediately if discrimination is detected at any of their (sub-) suppliers.

Child labour: We continuously work to permanently eradicate child labour in the production and supply chain and to ensure that child labour is not displaced or relocated to other sectors or countries.

We expect from our suppliers they:

• Do not recruit or employ workers under the minimum legal working age in the country; Identify, prevent and reduce dangers for young employees;

• Protect young employees from work situations that are prohibited for them or that harm their mental or physical development;

• Inform Brand Masters immediately if child labour is detected at any of their (sub-) suppliers.

Forced Labour: We continuously work to prevent and eradicate forced labour in the production and supply chain.

We expect from our suppliers that:

• They do not limit the freedom of their employees, including prison labour, indentured labour, bonded labour or other forms of forced labour.

• Employees are hired on the basis of documented contracts according to the law.

• Employees are free to terminate their employment at any time according to the agreed notice period, without a penalty or salary deductions;

• Employees are free to leave the production premises when their work shifts ends;

• Personal documents or other belongings are not withheld by the employer;

• Employees are not charged, directly or indirectly, any fees or commissions related to their recruitment and/or employment process. If the recruitment agent requests any fee, the worker will be reimbursed by the Supplier;

• Employees are not requested to provide deposits, payments will not be delayed and wage advances or loans are not offered with the goal of indebting the worker and binding him or her to employment;

• Overtime is only performed voluntarily, does not exceed 12 hours per week, is not requested on a regular basis and is always be compensated at a premium rate.

• They inform Brand Masters immediately if forced labour is detected at any of their (sub-) suppliers.

Freedom of association: We support and stimulate the freedom of association and collective bargaining for people on all levels of our supply chain.

We expect from our suppliers they recognize, respect and support the right of employees with regard to freedom of association and collective bargaining.

Fair remuneration: We insist that workers receive fair remuneration and earn at least a living wage for a normal work week (without any extra time) in the production and supply chain (ILO Conventions 26 and 131).

We expect from our suppliers, retailers and other business partners they:

• Compensate their employees sufficiently for a regular work week sufficiently to meet their basic needs and provide some discretionary income;

• Work with local governmental or non-governmental organizations to take appropriate actions to realize this level of compensation where it is now below the level of living wage.

2. Health & safety

Safe and healthy workplace: Employees in our production and supply chain should work in conditions that are healthy and safe.

We expect from our suppliers they:

• Provide a safe and hygienic place to work;

• Pursue a zero-tolerance policy on sexual and physical violence, exploitation or abuse inside and outside industrial premises, including inspections and measures to be taken when it is suspected that violence, exploitation or abuse is taking place;

• Provide all necessary personal protective equipment and train their employees to use these;

• Inform Brand Masters immediately if an unsafe or unhealthy workplace is detected at any of their (sub-) suppliers;

• Undergo systematic an periodic controls in terms of an audit to ensure they comply with the standards in the mentioned above.

3. Environment

We are continuously trying to reduce negative environmental impacts derived from business operations. Our aim is to reduce carbon emissions in the supply chain, focus on circular solutions and become climate neutral in the future.

We expect from our suppliers they:

• Have an effective environmental policy and management systems which could measure, monitor and report performance.

• Encourage environmentally friendly technologies and integrate these wherever possible.

• Work on the prevention of pollution and inefficient use and discharge of water and energy.

• Are able to provide an overview of the origin of the raw materials at all time if necessary.

• Hazardous and non-hazardous waste are kept separate and stored in good order. Areas for sorting and/or storage of waste are marked and barrels/containers properly labelled;

• Strive to integrate sustainable options in their operations. Be committed to sustainability and reduce the use of water, energy and raw materials.

• Inform Brand Masters immediately if pollution or inefficient use of raw materials is detected at any of their (sub-) suppliers.

Code of Conduct Version 1.4, April 2024.

Contact: quality@brandmasters.nu

Disclaimer Brand Masters regularly updates the content of the Code of Conduct. Despite this, it is possible that certain content is incomplete or incorrect. Brand Masters reserves the right to change, remove or add content at any time without notifying.