Ethical Code - Model 231

At present HYDRO DRILLING operates in a considerable amount of economic, political, social and cultural contexts which are in continuous and rapid evolution: all its activities must be carried out in observance of the law in the context of fair competition with honesty, integrity and propriety, respecting the legitimate interests of customers, employees and commercial partners; all those working in HYDRO DRILLING, without distinction or exception, must be committed to observing and ensuring the observance of these principles.

The belief that you are acting for the benefit of the Company can never justify the adoption of conduct in conflict with these principles.

For these reasons and due to the complexity of the situations in which the Company operates it is important to provide a clear definition of the values it recognizes, accepts and shares and the totality of responsibilities taken on by the Company both internally and externally, setting out a complex of principles and rules. The observance of such regulations is therefore of fundamental importance to ensure the application of propriety, fairness, integrity and honesty to the operations, for the prevention of the offences described in Legislative Decree no. 231 of 8 June 2001 and even to preserve the reliability and reputation of the Company.

HYDRO DRILLING adopts this Ethical Code and will give high priority to its application in order to approve the above-cited principles of ethics and transparency and to reconcile the search for competitiveness with the requirements of a fair competitive environment.

HYDRO DRILLING also ensures that there are sufficient resources available in terms of information, prevention and control and will not hesitate to intervene, where necessary, with corrective actions.