Carpenter is committed to conducting its business in accordance with the highest ethical and moral standards, as well as in compliance with all applicable laws and regulations of the countries and localities in which we operate. This commitment reflects our Guiding Principles, which all employees shall follow and practice in every aspect of our business lives.

In following these principles, each employee must recognize that personal interests must not be placed above the loyalty and responsibility we each owe to Carpenter as employees. Each of us shall discharge our responsibilities solely on the basis of what is in the best interest of Carpenter and independent of our personal considerations or relationships.

As used in this Code of Conduct & Ethics:

“Carpenter” means Carpenter Co., and all domestic or foreign subsidiaries and affiliates, as well as any joint ventures in which Carpenter has a majority interest and/or management responsibility,
“employees” or “representatives” mean and include all Carpenter employees, officers, and directors, and
“supervisor” means the person to whom an employee or representative reports.

On occasion, we may face situations involving a potential conflict of interest or a question as to the proper course of conduct we are expected to follow. While it is not possible to anticipate each and every situation that may arise, this Code of Conduct & Ethics addresses those types of situations that are most likely to occur and to provide general guidance in all other situations.

Each Carpenter employee should read this Code of Conduct & Ethics in order to familiarize themselves with its contents. If you encounter a situation that is not specifically addressed here, you are expected to apply the overall philosophy and concepts embodied herein and to conduct yourself accordingly. In addition, you are expected to act in accordance with the provisions of the Employee Handbook (if available) and specific Carpenter policies that are available from your supervisor or Human Resources office. If a question still exists in your mind, the particular circumstances should be discussed with your supervisor, your Human Resources manager, the Legal Department or a member of senior management.

Carpenter Philosophy

One of Carpenter’s Guiding Principles best summarizes its philosophy. “We must do the best we can to serve ourselves, but we should not forget that in the final analysis, we serve society whose approval of our actions forms the basis for the existence of our Company”. This means that we should conduct our affairs with customers, suppliers, employees and others in an honest and straightforward manner. Not only is this good ethics, it is good business as well.

Although it is important to recognize the value of having and adhering to such a philosophy, Carpenter also recognizes that it is equally important to create and maintain a work environment that fosters this philosophy and within which employees can work comfortably. An essential part of this environment is our Open-Door policy, which provides our employees the opportunity to discuss situations that are of concern with the appropriate supervisor or member of management. Employees must be able to feel satisfied that a situation has been handled properly. Thus, open communication is expected and encouraged, especially in dealing with sensitive issues involving business ethics, conflicts of interest, and employee relations.

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