Business Partner Code of Conduct

Scope: Business Partners

This Code applies to all of LIST’s business partners. It includes suppliers as well as all other business partners.

For the purposes of this Code, “suppliers” are all suppliers and other business entities that deliver goods, provide services, or otherwise engage in business activities for a LIST company, regardless of the basis on which this occurs.

In addition, we define business partners as all natural or legal persons from whom LIST obtains services or with whom LIST enters into other business relationships.

LIST’s Core Values

Together with our customers, we develop the best solutions for their needs—functional, economical, and sustainable. We are also committed to creating spaces that make a positive contribution to the social, cultural, and urban development of our society.

The following core values form the basis for our business decisions and our operational activities.

1. Trust and Reliability

We are dependable and honor our contracts. Commitments—whether in writing, verbally, or electronically—are binding for us. Our conduct is characterized by fairness and consistency. Our goal is to establish, nurture, and carefully preserve trust based on partnership. We expect our business partners to interact with us in the same spirit of partnership. Together, we strive to build business relationships that are reliable in every respect.

2. Diversity

We value diversity and promote respectful interaction. No one may be disadvantaged because of their ethnic origin, skin color, nationality, gender, religion or worldview, disability, age, or sexual
orientation.

3. Avoiding Conflicts of Interest

We take care not to jeopardize LIST’s interests through the personal goals of individuals. We expect our business partners to promote only our shared business goals and to ensure that their employees set aside their personal interests at all times.

4. Preventing Corruption

We do not tolerate corruption of any kind. Naturally, we expect the same from our business partners. We conduct our business relationships based on purely objective criteria, such as quality, reliability, or price. Business decisions must not be influenced by irrelevant or private interests or relationships of individual persons, nor may they be motivated by personal gain. In cases of doubt, we avoid even the appearance of corruption and/or bribery.

We do not accept any form of anti-competitive agreements and avoid violations of competition or antitrust laws.

5. Resources

Resources are limited. This applies to our corporate and personal resources as well as to our environment. Therefore, we use them wisely and waste neither time, energy, nor money, and we are fully committed to resource-conserving practices and business operations. We expect our business partners to act in the same manner whenever possible.

6. Data Protection

We protect the personal data of all employees and business partners and comply with the law. We collect, process, use, and store personal data only in accordance with legal requirements. We expect our business partners to fully comply with all data protection requirements as well.

7. Occupational Safety

We are committed to the safety and protection of our employees and comply with applicable legal regulations regarding occupational health and safety.

At the construction sites we operate, we ensure that safety regulations are followed to minimize the risk of accidents as much as possible. We expect our business partners to adhere to the same high occupational safety standards and to actively contribute to the safety of our shared construction sites.

8. Preventing Money Laundering

We do not engage in money laundering and remain vigilant against suspicious activities in this regard. We immediately report suspicious transactions internally or to the authorities in accordance with the relevant legal requirements. We also expect this from our business partners.

9. Accounting and Tax Compliance

We maintain our books properly and comply with tax regulations. We expect the same from our business partners.

Reporting Violations

If you have any questions about the Business Partner Code of Conduct or if you observe any misconduct, we ask that you address this openly with us. You can contact the Executive Board of LIST AG or our Compliance Office at any time with your concerns. We expressly encourage you to raise concerns at an early stage. Openness and transparency are an important part of our corporate culture.

Whistleblower System

LIST maintains an internal reporting office in accordance with the Whistleblower Protection Act, which also allows business partners to anonymously report potentially unlawful or non-compliant conduct. Go to the whistleblower portal.

Nordhorn, January 27, 2026