METZGER REALITÄTEN GRUPPE INTERNATIONAL REAL ESTATE EXPERTS VALUATION CONSULTING AND RATING CHARTERED SURVEYORS COUNSELORS OF REAL ESTATE Code of Ethics September 2014 Eglish Versio
MRG ME TZGER REAL ESTATE GROUP CODE OF E THICS AND CONDUCT PURPOSE AND SCOPE This code of ethics serves to summarise ad outlie the commo priciples for MRG Metzger Real Estate group s ad all its employees, to determie available ad existig guidelies as applicable, ad to defie ad promote values ad basic priciples i busiess activities. MRG ME TZGER REAL ESTATE GROUP MISSION STATEMENT The compaies of the MRG Metzger Real Estate Group are atioally ad iteratioally leadig valuatio ad cosultig compaies i the real estate idustry. We are a Austria service compay ad we are preset throughout Europe through our iteratioal parterships. Furthermore, we egage i global activities. Property raks amog the most valuable assets for huma beigs. It is vital to private, public ad busiess ivestmet activities. Real estate is the creative expressio of the culture ad progress of a coutry as well as visual, historic moumets to creativity ad values. As real estate experts, we therefore bear great social, ecoomic ad orgaisatioal resposibilities for ivestors, users ad the populatio of the regioal ad supra-regioal livig eviromets. A high level of expertise, atioal ad iteratioal kow-how, creativity ad visioary log-term thikig are essetial for meetig the high profile of requiremets of our tasks. As a market-leadig compay i the real estate valuatio ad cosultig professio, we cosider it our duty to make our cotributio to society i the form of sposorig for charitable evets. It goes without sayig that we strive to provide support i the field of art/culture ad sport. We have secured a leadig positio i the market through the dyamic expasio of our rage of services i keepig with the market ad the associated expasio of our cliet base as well as the iteratioalisatio of our busiess relatioships. The market defies the cotet ad quality of our services ad motivates our thoughts ad actios. Our employees iter-divisioal thikig ad decisio-orieted actios, their professioal competece ad their careful use of available time are key compoets i achievig our busiess objectives ad prerequisites for satisfyig our cliets. 2
Each idividual employee bears resposibility for the MRG Metzger Real Estate Group ad cotributes to how it is regarded by the world at large. Similarly, the MRG Metzger Real Estate Group bears resposibility for each employee. Our maagemet fully supports the code of ethics which sets a example for ethical coduct. This is reflected i fairess, equal opportuities ad opeess whe dealig with cliets, employees, competitors, suppliers ad authorities. OUR CORE VALUES Ethical values Itegrity: Our coduct towards cliets, employees, govermet ad regulatory authorities, competitors, suppliers ad society as a whole is that of correctess ad it is a sig of the cotiually maitaied compliace of our ethical values with our busiess activities. Sese of resposibility: As experts i real estate valuatio, we act i full awareess of the great social, ecoomic ad orgaisatioal resposibility of our expert appraisals for both private ad istitutioal ivestors ad also the public sector. Our aim is to fulfil our obligatios placed upo us ad be resposible for our actios. Compliace: We comply with all applicable ad relevat law, guidelies, iteral ad exteral regulatios ad our ow ethical stadards with which compliace is a basic priciple of our busiess activities. Idepedece: I the light of our resposibilities, we as experts i real estate valuatio, regard the idepedece of our compay ad our activities a top priority. We operate exclusively i the area of valuatio ad cosultatio ad we have either direct or idirect affiliated i other compaies, e.g. i the brokerage or ivestor sector. I order to esure objectivity, idepedece ad reliability of our busiess activities, our employees all adhere to this priciple of idepedece without exceptio ad do ot pursue ay other activities i violatio of this priciple. 3
We, the MRG Metzger Real Estate Group, always act i accordace with the applicable laws ad atioal ad iteratioal stadards with regard to our expert reports. I this respect, we comply with the followig laws ad stadards: Austria Expert ad Iterpreter Law (Versio 1st Jauary 2014) Austria Real Estate Valuatio Law (Versio 15th March 2013) Real Estate Ivestmet Fuds Act (Versio 24th February 2004) TEGoVA The Europea Group of Valuers Associatios; Europea Valuatio Stadards (Blue Book 2012) RICS Royal Istitutio of Chartered Surveyors; Appraisal ad Valuatio Stadards (Red Book 2014) IVSC Iteratioal Valuatio Stadards Coucil; Iteratioal Valuatio Stadards (White Book 2011) CRE The Couselors of Real Estate; Ethics & Stadards As experts, we ad all of our employees are always coscietiously ad careful whe providig our services to keep the provisio of our services free from udue iterferece ad to maitai strict objectivity ad eutrality. Our maagig directors ad employees are obligated to be objective ad uprejudiced whe creatig appraisals. Trasparecy: Our actios are based o atioal ad iteratioal valuatio stadards, which are trasparet ad accessible for our stakeholders at all times. We rely o ope ad costructive commuicatio, which is determied by ethical values ad hoesty, as well as o resposible ad future-orieted maagemet. PERFORMANCE-RELATED VALUES Top performace: Our goal is to cotiuously develop our busiess activities i the areas of real estate ad fiacial services. I doig so, we aim to always achieve top performaces ad cosolidate ad expad our positio as the Europea market leader for idepedet real estate valuatio ad cosultatio. Teamwork: We ca optimally fulfil our tasks i the iterest of the cliets by respectig the values ad skills of each idividual ad combiig all existig stregths. Dedicatio: Our employees are kee to cotiuously trai further, lear from each other ad brig their extesive kow-how ito the team. They make a sigificat cotributio to the improvemet of compay performace through their dedicatio 4
ad professioal competece ad through their resposible coduct they remai customer orietated ad maitai the MRG Metzger Real Estate Group sese of social duty. Profitability/ecoomic efficiecy: The profitability of our group is based o compliace with ethical ad performace-related values. Each employee cotributes to the success of the compay through their dedicatio ad commitmet ad thereby promotes its costat growth. The resultig customer satisfactio is the reaso ad key to our ecoomic success, which allows us to optimally pursue our cliets iterests. PERSONNEL POLICY PRINCIPLES The skills of our employees: We are aware of the value of our employees i achievig the compay objectives ad cosolidatig our leadig market positio, we therefore promote the idividual skills ad persoal ad techical developmet of our employees through ope dialogue ad employee appraisals. It is very importat to us to promote the wellbeig of employees by providig them with optimal workig coditios, useful commuicatio systems ad prescribed safety precautios. The relatioship betwee the employer ad the employees is defied as follows: Compliace with moral, ethical ad legal priciples is of utmost iterest for compaies ad employees. MRG Metzger Real Estate Group attaches great importace to the employmet ad promotio of qualified employees. The compay guaratees equal opportuities for all idividuals, regardless of atioality, geder, age, sexual orietatio, religio or disability. A workig eviromet without discrimiatio ad harassmet is guarateed by MRG Metzger Real Estate Group. MRG Metzger Real Estate Group fosters a atmosphere of ope ad direct commuicatio, i which all employees have access to the maagemet. Respect ad hoesty towards superiors, colleagues ad employees: The success of the MRG Metzger Real Estate Group is sigificatly iflueced by the employees. Accordigly, we attach great importace to respectful, hoest ad fair coduct towards each other to guaratee the quality of the corporate culture ad to promote the iteratioalisatio of busiess relatioships. We create a atmosphere of ope ad respectful commuicatio, which ot oly shapes the cooperatio, but also the corporate image to the outside world. 5
GENERAL PRINCIPLES Resposibility: MRG Metzger Real Estate Group distiguishes betwee the followig areas of resposibility: Towards cliets: We attach great importace to the observace of the cliets expectatios ad requiremets ad we have made it our goal to fulfil these demads ad market requiremets through customer-orietatio, resposibility ad discretio. Our cliets cofidece is based o strict compliace with data protectio requiremets. Towards employees: We see our employees as our most importat compay value ad we therefore promote their traiig ad further educatio, we treat them fairly ad respectfully ad we create a eviromet of ope commuicatio ad optimal workig coditios. Each idividual brigs their expertise ad idividual competeces ito the compay ad pursues the compay s iterests with egagemet. Towards authorities: The compliace with all applicable laws, guidelies, rules ad stadards i the coutries, i which we commercially operate, is oe of the cetral cocers that we are pursuig to the best of our kowledge. Towards busiess parters: MRG Metzger Real Estate Group is distiguished by its professioal competece, quality, creativity ad visioary log-term thikig ad thereby also guaratees fair treatmet of all busiess parters. Towards the media: We maitai ope ad direct commuicatio with all media represetatives ad we support them i objectively reportig o our compay, albeit with due regard to cofidetiality obligatios to our cliets. Towards society: We adhere to the law ad respect the fudametal ad huma rights of our employees, cliets, suppliers ad the authorities ad promote the wellbeig of the commuity. Cofidetiality: As court certified experts, the swearig-i ceremoy also obligated us to cofidetiality. It is ot oly the experts themselves but also the compay s employees who are obligated to treat the trade ad busiess secrets ad iformatio, whose cofidetiality is of iterest to the stakeholders, as cofidetial. The cofidetiality obligatio cotiues to apply after termiatio of the employmet relatioship. Data from third parties will be treated as cofidetial ad will ot be passed o. 6
CONCRE TE PRINCIPLES OF CONDUCT FOR BUSINESS POLICY CONCERNS Compliace: MRG Metzger Real Estate Group expects its stakeholders to comply with all applicable laws, guidelies ad stadards, both i Austria ad abroad i all busiess activities. Documetatio of busiess trasactios, proper accoutig ad billig: All busiess activities ad trasactios shall be properly documeted i accordace with the rules ad regulatios as determied by law. Furthermore, employees i the field of fiacial accoutig ad cost accoutig are obliged to trasparetly create the documets takig cost trasparecy ito accout. Prevetio of coflicts of iterest ad secodary employmet: The ofte border-crossig ivestmet activity ad our activity i the real estate ad fiacial services sector icreasigly create potetials for coflicts of iterest. We therefore cosider ourselves obliged to esure that there are o coflicts betwee the iterests of cliets ad the obligatios of the compay ad its stakeholders. The secodary employmet of employees by compaies, particularly busiess parters ad competitors, must be approved i writig by the maagemet. Bribery ad corruptio: No employee or represetative of MRG Metzger Real Estate Group may give, demad, pledge or accept beefits from busiess parters or other third parties i coectio with busiess-related activities. Resposible dealigs with gifts: I priciple, the acceptace of gifts or privileges, joureys, services ad discouts is ot permitted, as the objective decisio makig ability of the parties cocered will thereby be adversely affected. Furthermore, the acceptace of gifts would damage the compay s overall iterests. Doatios ad sposorig: Doatios ad sposorship, with regard to social ad commuity egagemet, are subject to the resposibility of the MRG Metzger Real Estate Groups maagemet ad subject to regulatio. Compliace with competitio rules: MRG Metzger Real Estate Group, its employees ad officers strictly adhere to the requiremets of fair ad free competitio accordig to the guidelies of the Europea Competitio Law. We do ot obtai ay ulawful advatages through ufair busiess practices. Rejectio of illegal employmet: We observe ad comply with all labour law ud welfare requiremets ad regulatios. 7
IMPLEMENTATION Commuicatio: The employees shall be regularly iformed o the applicable priciples which are cotaied i the code of ethics ad istructed to observe these to the best of their kowledge. We pay attetio to ope, forward-lookig ad trasparet commuicatio ad regularly provide our employees with all relevat iformatio. We use clear laguage for media ad ivestors ad we prefer ot to commet o rumours. We do ot provide iformatio o customer relatioships or cotacts, competitors or o-goig ivestigatios. Cocrete measures to impart the cotets of the code of ethics: We publish the code of ethics i Germa ad Eglish ad make it available o our olie homepage. Our busiess parters shall be iformed o the code of ethics ad it shall be itegrated ito the order documetatio. 8
MORE INFORMATION MRG Metzger Real Estate Group A-1060 Viea Gumpedorfer Strasse 72 T + 43-1-597 50 60 F + 43-1-597 50 60-25 mrg@metzger-estate.com www.metzger-estate.com