CODE OF CONDUCT | 8 3. Avoiding conflicts of interest WALTER GROUP employees shall always undertake to make their business decisions in the companys interest, not based on possible personal interest. A conflict of interest arises if a decision that would be best for the company stands in opposition to personal or private interests and can therefore no longer be made impartially. In this case, affected employees are obliged to consult their line manager(s), higher-ranking manager(s) or head(s) of shared services or services. There is also conflict of interest when invitations or gifts exceed the usual business boundaries. In order to prevent conflicts of interest, WALTER GROUP employees are strictly forbidden from carrying out competing activities or business.