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REGULATORY COMPLIANCE

Regulatory Compliance

PROLIM Regulatory Compliance centralizes compliance information and documentation, making it easier for enterprise organizations to achieve and maintain compliance with environmental, product safety, medical device other processes and standards on a global balance. For PROLIM, compliance means more than just adherence to the law and internal Company regulations, the cornerstone of which are the PROLIM Business Conduct Guidelines. It provides the foundation for all our decisions and activities and is the key component of business integrity. Compliance is not a program; it is the way we conduct business.

Preventing corruption, violations of fair competition and other improper business activity takes the highest priority at PROLIM. Our main principle is: Only clean business is our business. This means complying strictly with all laws and regulations and adhering to the principles of ethical business conduct as defined in the PROLIM Business Conduct Guidelines, which are binding for all our employees worldwide. Compliance is a permanent and integral part of our business processes. The PROLIM Compliance System will always be a work in progress. Its efficiency and feasibility must be continuously improved and risk analyses must be adapted in line with the constantly evolving business environment.

Our compliance priorities provide the basis for the ongoing development of our Compliance System. In line with our entrepreneurial concept Vision 2020, we have developed this approach further towards a long-term perspective for the ongoing development of compliance at PROLIM.

Since the Compliance Program was introduced throughout the Company, we have continued to improve it and have developed it into an overarching compliance management system. We have made compliance a permanent and integral part of our business processes. The Compliance System is based on a clearly defined system, into which all Group compliance measures must fit. The PROLIM Compliance Organization and the key elements of the Siemens Compliance System within this structure are outlined in the following.

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