Competition Law Compliance Policy

(KORG Inc & KORG (UK) Ltd)

OUR POLICY

KORG is committed to innovation and providing its customers with an extensive range of market-leading products. It is important that the high standards expected of the brands we distribute are complemented by our sales conduct and business practices across all areas of our business, including competition law compliance.

This Competition Law Compliance Policy outlines our focus to conduct our operations in strict compliance with the competition laws of the UK and the EU. This will help to ensure:

• the protection of fair competition in the market in which we operate; and
• long term benefits to our competitors, trade partners and customers.

This Competition Law Compliance Policy sets out our intentions for the way we will do business and what our customers and trade partners are entitled to expect from us.

WHAT DOES THIS MEAN?

In practical terms, KORG will not engage in any of the following activities:

• discussions with our competitors about their plans relating to marketing, production or any other commercial strategy other than as far as is necessary for reasonable business purposes;
• agreements with businesses in respect of what steps we will take, or refrain from taking in any competitive tendering process;
• agreements with our competitors, trade partners, or customers:
• in respect of the prices that KORG products should be advertised and/or sold for; or
• to limit the markets in which we operate and/or intend to operate,
• adverse treatment of a trade partner if it does not follow our recommendations;
• allowing ourselves to be used as a conduit of commercially sensitive and/or significant information between competitors or trade partners, or similar activities.

COMMITMENT TO COMPLIANCE REGARDING PRICING

We will always adhere to the regulatory guidelines when making recommendations of product resale prices. We will make clear that any recommendations for resale prices are no more than non-binding suggestions.

We intend to monitor our performance against the principles of this Policy and to ensure that our staff are kept aware of these commitments.

We are committed to upholding the aims of this Policy. If any person believes that we have not acted in accordance with this policy we ask you to please report this, in writing, to our Competition Compliance Officer at compliance@korg.co.uk.

Edition: October 2019