Pfleiderer Guidelines

1. We stand for a Culture of Leadership based on Partnership

We treat our staff with respect and lead by personal example. Senior management and staff see each other as partners, prepared to place demands on each other and provide mutual support. Acting as partners is in the common interest of the Company.

Our self-confidence is based on our performance and our readiness to learn. Success provides us with confirmation and gives us strength. Mistakes are an incentive to improve.

Being able to criticize and accept criticism are major leadership skills. We discuss openly and argue respectfully in order to achieve optimum results.

2. We are Creating Organizational Structures Suited to our Goals

We are creating clear structures, with clear lines of responsibility for senior managers and staff. Shorter, more transparent decision paths speed up our operating processes.

In order to make our processes more efficient, we are reducing unnecessary complexity and constantly optimizing commercial and working procedures.

The productive and constructive in-house cooperation secures the efficiency of our processes.

3. We promote Performance, Entrepreneurial Thinking

We are strengthening the performance of our senior managers and staff by carefully developing their competences and careers within the Company. This ensures a sense of commitment to the Company and greater self-confidence.

We support entrepreneurial thinking by delegating goals and responsibility. The achievement of commonly agreed team targets and individual goals are rewarded. This is how we are creating a climate of performance, participation and trust. Performance pays at Pfleiderer.

Working together in a spirit of cooperation is essential if the Company is to succeed. This atmosphere of mutual respect is also the basis with which we deal with staff representatives.

4. We are Reliable and are Judged by What We Say

We communicate fully, clearly and in good time. We stand by what we say and by our commitments, and are judged by our actions.

Open communication based on mutual respect ensures that we remain predictable and creates certainty and orientation in our working environment.

We work in a service-oriented manner in the interest of both customers and business associates alike.

5. We are a Responsible Company

We stand by our key values - innovation, trust, performance, responsibility and identification. We pass on this enthusiasm to our staff, creating the foundations for economic success that will ensure the Company continues to increase in value.

We act in the interests of those supplying us with capital and with a sense of responsibility for our staff and business associates, as well as towards the environment, the state and society as a whole.

We act responsibly with the assets entrusted to us by our suppliers of capital. We respect those ideas that have proved themselves and connect them to innovation. In doing so, we are continually expanding our strengths.