Sanctions Policy

Introduction

The global nature of our business and the fact that sanctions apply across borders mean the transactions we engage in may be subject to sanctions imposed by multiple government authorities. This includes those of the United Kingdom, Switzerland, the European Union (EU) and/or the United States (US), amongst others.

Governmental authorities impose sanctions for a variety of national security and foreign policy reasons, either unilaterally, based on UN Security Council resolutions, or other multilateral policy initiatives.

Failure to address the risk of sanctions violations may undermine our reputation and lead to investigations, fines and/or other penalties for the company and/or individuals.

This Sanctions Policy sets out Sunfert S.A.’ approach to ensuring that we fully comply with all sanctions applicable to our business activities and that we appropriately manage associated risks.

Who does this apply to?

This policy applies to all employees, directors and officers, as well as contractors under Sunfert S.A. direct supervision, working for an Sunfert S.A. office or industrial asset directly or indirectly controlled or operated by Sunfert S.A. worldwide.

We ensure that joint ventures we control act in a manner consistent with the intent of this policy.

What is our commitment?

We are committed to complying with all sanctions applicable to our business activities.

We do not participate in transactions or engage in conduct designed or intended to evade or facilitate a breach of applicable sanctions.

We do not conduct business in, or involving any, embargoed territory or sanctions targets. We do not conduct business that would violate any applicable trade controls or anti-boycott laws.

We do not engage in any sanctioned activity that could result in the designation of Sunfert S.A. as a sanctions target. We also do not conductbusiness with SSI (Sectoral Sanctions Identifications) entities, which is prohibited by sanctions.

To manage our sanctions risk exposure and ensure compliance, we implement controls and processes including screening and due diligence on our counterparties and vessels involved in transactions into which we enter. We use a risk-based approach to determine whether they are a sanctions target, SSI entity or otherwise attract sanctions risk. We also implement controls in respect of our payments, using a risk-based approach to ensurethat they are consistent with the requirements of this policy.

We require employees to be alert to sanctions risk and to report any sanctions issues identified to Compliance. We are transparent with Sunfert S.A. banks and counterparties in relation to our business.

Speaking openly

We are each responsible for ensuring that we meet our commitments. We expect our employees and contractors to speak openly and raise concerns about possible breaches of this policy with their manager, supervisor or via other available reporting channels. Sunfert S.A. takes concerns seriously and handles them promptly.

Sunfert S.A. has zero tolerance for retaliation against anyone who speaks openly about conduct they believe is unethical, illegal or not in line with our policies, even if the concern isn’t substantiated, as long as they have not knowingly made a false report.

Consequences

Sunfert S.A. takes breaches of our policies seriously. Consequences for breaching this policy depend on the severity of the breach but may range from a warning to termination of employment. In certain instances, there may also be civil and/or criminal liability.

Key Terms