CODE OF
CONDUCT

Over the course of more than five decades, we have built a culture founded on five values that define us: integrity, institutional commitment, leadership, teamwork, and innovation. On that foundation, we have built a Group capable of adapting, growing, and creating value at every stage of its history.

This Code translates those values into specific standards of conduct. This update further develops topics that have become increasingly important in the way we operate respect for individuals and their dignity, environmental stewardship, the responsible use of technology, and the strengthening of transparency.

Its scope extends to all of us who are part of DESC, as well as to those who are associated with the Group — our stakeholders— with whom we build long-term relationships.

More than a policy, this document serves as an internal guide. It is intended to support decision-making based on ethical and moral principles.

I count on each of you to read it, embrace it, and, whenever something is inconsistent with what is established herein, report it through the Feedback and Transparency Hotline. That is how a code ceases to be merely a document and becomes part of our culture.

Because acting with ethics, honesty, and responsibility is not an obligation; it is a conviction. Doing what is right today is the foundation upon which we build a better tomorrow. That principle has shaped our history and will continue to guide the future of DESC.