CODE OF ETHICS

1. Introduction

L’Opificio Serico Fiorentino srl with its commercial brand "l’Opificio" (hereinafter "l’Opificio" or the "Company"), founded in 1998, is a sustainable, virtuous, and loyal brand that has as its mission since its foundation to create, produce, and distribute high-end textile creations for home decoration, such as fabrics, velvets, and haute couture home furnishings, and to provide excellent, responsible, and sustainable interior design services for the environment and the social context in which they are made.

The Company seeks to provide only high-quality products and services and is committed to continuously improving its products and services.

To this end, l’Opificio uses only natural fibers for its products, where possible, and carefully selects materials, partners, and suppliers that stand out for innovation, quality, social and environmental sustainability, and labor relations management, favoring collaborations with producers that guarantee:

a) environmental and ethical certifications;

b) environmental characteristics and performance of materials (ease of recycling and/or regeneration, biodegradability, sustainability of the production process) in order to ensure maximum environmental sustainability of products throughout their lifecycle;

c) aesthetics and suitability of materials, favoring, where possible, Made in Italy products, and in other cases, the best producers on the European market;

d) locally sourced materials, favoring, where possible, suppliers geographically closer to reduce the environmental impact of transportation.

l’Opificio has always acted responsibly and with great respect for the needs of all stakeholders (internal and external) as it firmly believes that long-term sustainable development and growth can only be achieved through full respect for the principles of discretion, correctness, reliability, transparency, honesty, and full respect for the environment.

The adoption by each of us of shared rules, practices, and values regarding ethics, social responsibility, and respect for the environment guides our behavior on a daily basis.

The Company has chosen to formalize the fundamental values and rules of conduct to guide the actions of all those who contribute to the realization of the corporate and social mission in full compliance with the laws and regulations in force in the countries in which it operates, in a corporate document, the Code of Ethics.

This Code of Ethics is inspired by the fundamental values outlined above as well as international guidelines on human rights and corporate social responsibility such as, for example, the Universal Declaration of Human Rights, the principles of the United Nations Global Compact, and the United Nations Women's Empowerment Principles.

2. Application

The principles enshrined in this Code of Ethics (hereinafter also "Code") constitute a reference within which the Company's internal and external collaborators are invited to act and collaborate to create products and services with the passion that unites them.

Respect for national and international laws, regulations, and standards, as well as respect for good practices, especially in ethical, social, and environmental matters, is the essential prerequisite for the credibility of our actions.

This Code of Ethics applies to members of the Board of Directors and all Employees, who are required to adopt behaviors in line with the principles and standards contained in the Code, both in their relations with other Employees and in external relations with Suppliers, Customers, Consultants, Collaborators, and Partners, as well as in relations with institutions and media.

l’Opificio also expects that Suppliers, Consultants, Collaborators, and all external Partners of the Company, understood as those who are in contractual relationships or act on behalf of or in the Company's interest, comply with the ethical principles set out in this Code.

l’Opificio is committed to using communication channels, including social media, adopting appropriate language and communicating truthful and transparent content. The Company prohibits the use of its communication tools for personal or political purposes, or in any other way that may damage the reputation or interests of the Company or its stakeholders.

Each Recipient is required to know the Code of Ethics and to comply with its rules in carrying out their activities. In this regard, l’Opificio undertakes to disseminate its contents and objectives within the organization and to inform its stakeholders.

The Code of Ethics is available on the website lopificio.it in Italian and English.

The Code of Ethics is brought to the attention of all new collaborators and delivered to Suppliers and Business Partners at the time of signing the respective contract.

The Code of Ethics is approved by the Board of Directors which undertakes to update its contents when necessary.

All recipients are required to know the Code of Ethics and to report actual or alleged violations of the principles and rules contained therein. The report must be forwarded to Opificio Serico Fiorentino srl by e-mail to the address

codice.etico@lopificio.it.

The Board of Directors will examine the reports presented.

If necessary, the Company may take all necessary measures to put an end to the non-compliance and resort to any corrective action or disciplinary sanction commensurate with the severity of the violation found, in accordance with applicable laws and regulations.

In any case, such violations, if constituting a civil or criminal offense, may be prosecuted according to the law.

Reports and investigations are managed ensuring the utmost confidentiality on the identity of the whistle-blower and in compliance with current legislation.

No form of retaliation against individuals who have adopted this reporting system in good faith is tolerated, even if the suspicions underlying the reporting turn out to be incorrect.

Suppliers and Partners who implement behaviours that are not in line with the rules of the Code of Ethics may be subject to measures or termination of the relationship.

3. Compliance with the Code

Respect for people

We provide a safe and healthy work environment for all of our employees.

l'Opificio recognizes the centrality and importance of the person and of a gratifying and satisfying development of his personality in the workplace, of the contribution of each individual, in the sharing of individual skills (Articles 2 and 4 of the Italian Constitution) ; for this reason it undertakes to guarantee a work environment capable of protecting and enhancing every single person, without direct or indirect discrimination, based on trade union, political, religious, racial, language or gender reasons, recognizing the absolute value of the fundamental principles of the Constitution of the Italian Republic, and refuses to enter into negotiations or assign tasks to partners who violate these principles.

Correctness

l’Opificio respects all forms of lawful competition, does not implement unfair competition practices and undertakes to carry out commercial negotiations in compliance with the prerogatives of others, without omitting or falsifying data, documents or other information useful for obtaining an undue competitive advantage over its own competitors, believing that only the quality of their products can determine the growth of their market.

All persons who act on behalf of the Company are required to behave fairly, impartially and honestly, refraining from pursuing personal activities that could give rise to a conflict with the interests of the same.

Legality

l'Opificio, to protect the ability to generate value and corporate reputation, sets its organization on compliance with the law and the principles of financial transparency and good administration and undertakes to comply with all accounting and financial procedures to avoid irregularities, illegitimacy and violation of specific regulations, with particular reference to the provisions regarding money laundering, receiving and use of money or goods of dubious origin.

We hold ourselves to the highest standards of integrity and respect intellectual property rights, including patents, trademarks and copyrights.

Respect for the environment

l’Opificio promotes a culture that respects the environment to protect the growth and health of people and create better conditions for the future of the new generations. In compliance with the provisions of articles 9 and 32 of the Italian Constitution and with the articles 11 and 191 s. TFEU

l'Opificio places environmental protection as a fundamental criterion for the choices of technologies, programs and company strategies, preventing pollution in all its forms and evaluating the environmental impacts of its product.

l'Opificio believes in the profound value of industrial and technological research aimed at improving the quality of the environment and of life, in the awareness that its activity is at the service of the community and the common good.

l'Opificio does not use leather, furs or anything else that could cause unnecessary suffering to animals.

l’Opificio adopts the principle of the 4 Rs: Reduction of waste at the origin, Reuse of materials, Recycle of materials that can still be used and Recovery, both in terms of material and energy.

l'Opificio believes that the protection of the ecosystem cannot be separated from correct information and adequate involvement of people, for this reason it undertakes to promote its business in a reliable, objective and sincere way.

Represent positive change through a sustainable production process. It is with this objective that l’Opificio has chosen, together with other companies in the textile supply chain, to join Slow Food in the creation of Slow Fiber.

Slow Fiber aims to disseminate knowledge of the impact that textile products have on the environment, on workers in the supply chain and on the health of consumers in order to spread a new ethics and culture of dressing and to furnish. By becoming part of this network of virtuous companies, l’Opificio becomes the spokesperson for these values, becoming the promoter of positive change.

Privacy

l'Opificio respects the privacy of all its primary stakeholders such as employees, suppliers and customers, undertaking to protect their confidentiality and not to misuse their personal data.

The same stakeholders are required to act in compliance with the confidentiality obligations that the Company assumes towards third parties and not to use confidential information of which they have become aware during the exercise of their working activity for purposes unrelated to the activity working itself.