Protection of Human Rights

The support and respect of human rights is a fundamental element of our organization’s sustainability. As such, the topic is explicitly covered in a number of our codes and policies including our Code of Ethics, the Sustainability Policy, the Mediobanca Group Human Resources Management Policy our Mediobanca Group Diversity, Equity and Inclusion Code and the Group ESG Policy.

We continuously strive to promote a culture of social responsibility both internally and in our relations with external stakeholders.

Internally, we assess all our operations for risks related to violations of internationally recognised human rights. Furthermore, we raise awareness surrounding the impacts our business may have in the area of Human Rights and vigorously pursue the protection of our employees' rights including respect for diversity and non-discrimination, safeguarding the right and freedom of association and collective bargaining, ensuring high standards of occupational health and safety, rejecting forced and child labour any kind of harassment in the workplace. A dedicated “Sustainability and Human Rights” course is available for Group employees and explores the concept of indirect impact, with a focus on respect for human rights.

We also consider the impact our business may have beyond our direct operations by establishing good relationships based on transparency and cooperation with customers, suppliers and business partners, especially in areas, situations and operations that are more prone to be affected by potential conflicts or human rights violations.

All suppliers are required to comply with regulations that protect the rights of workers employed as part of our services. New suppliers are asked to sign a declaration which states that they will condemn any kind of harassment, discrimination, forced or child labour, all whilst guaranteeing respectful working conditions.

In order to manage our indirect impacts, we assess risks related to the protection of internationally recognised human rights and avoid dealing with parties involved in illegal activities that could lead to potential violations or abuses. This precaution is supported by the organization’s ESG Policy, which includes protection of human rights as a criterion when assessing counterparts in the credit or investment decision-making process.

MEDIOBANCA GROUP RELATIONS WITH TRADE UNIONS

Respect for and protection of trade union rights are seen as fundamental in the Mediobanca Group to guarantee a fair and sustainable working environment. The Group believes that trade unions play a crucial role in representing and defending the rights of workers.

The following points are acknowledged by the Mediobanca Group regarding the exercise of trade union rights:

1) Right of association: The Bank's employees have the right to join a trade union to represent their collective interests, as provided by the Italian Constitution (Article 39) and the relevant national and international laws.

2) Collective Bargaining within the Bank: The trade unions negotiate with the Bank in order to establish the working conditions, salaries, working hours, benefits and other relevant issues through second-level collective contracts.

3) Freedom to Strike and of Assembly: The Bank acknowledges the trade union’s right to promote such strikes among its own workers as are considered necessary in order to defend their own interests, in accordance with the laws in force governing the methods and times by which strikes may be held. The trade union is also entitled to call assemblies of workers in areas of the premises that the company makes available.

4) Protection of Trade Union Representatives: The representatives of the trade unions within the Bank enjoy specific protections, to prevent any form of retaliation because of their trade union activities. This includes protection against unfair dismissal and other forms of discrimination.

5) Safeguarding Equal Treatment: Trade union rights are guaranteed to all employees without discrimination. The Bank ensures that there is no preferential treatment or penalization based on trade union affiliation.

6) Information and Consultation: Within the Mediobanca Group, the trade unions are involved in discussions on relevant issues, such as health and safety in the workplace, training, and corporate restructurings. Banks are required to consult with the trade union organizations on significant issues regarding workers, such as mergers, acquisitions or collective redundancies. The Group also provides the trade unions with notice boards (actual and electronic), managed independently by the organizations themselves, for them to carry out their communications and propaganda activities.

As further confirmation of the importance that the Group places on industrial relations, a specific representative has been identified to co-ordinate relations with the trade unions, to ensure a single line of interaction with a common relational equivalent at national level.