GORENJE GOSPODINJSKI APARATI D.D. Code of Conduct at the Gorenje Group

Podstawa prawna: In accordance with the provisions of the Code of Best Practice for WSE Listed Companies, the Ljubljana Stock Exchange Rules, and the applicable legislation, the company Gorenje, d.d., is publishing the following announcement:

Approved

by resolution of the Supervisory Board of Gorenje, d.d., dated April 24, 2014

The purpose of this Code of Conduct is to:

• Commit the Company to the highest standards of business and ethical behaviour;

• Encourage ethical conduct and sanction misconduct within the Company; and

• Develop an ethical culture within the Company that is based on such standards and conduct, and that will be applied by directors, management and employees alike.

By adopting, following and updating this Code of Conduct on a regular basis, together with the Company's corporate governance code, statute and regulations, the Company confirms its desire to demonstrably lead and promote good ethical behaviour. Ethics and good business practice are not simply a question of obeying the law. Consequently, and in order to foster the confidence of its shareholders, employees, investors and the public, this Code of Conduct goes beyond the legal and regulatory framework currently prevalent in Slovenia. It embraces both national and internationally recognized principles and practices. (1)

The Company's governing bodies and employees understand this Code of Conduct as their joint obligation, and obligate themselves to ensure that its spirit and provisions are respected and acted upon throughout the Company and its subsidiaries and dependent companies. The Code of Conduct is the base document for development of Gorenje Group's corporate values, and a starting point for the development and management of corporate culture consistently with the Code's contents,

This Code of Conduct shall be reviewed and updated on an annual basis and published internally via the Company's Intranet site, as well as on the Company's Internet site at www.gorenje.com.

The company will set out in a separate annex matters of practice for implementation that are agreed from time to time by the Supervisory Board and the Management Board.

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(1) Internationally recognized principles include, among others, the Sullivan Principles (www.globalsullivanprinciples.org/), UN Principles on Corporate Ethics (www.unglobalcompact.org/), Coalition for Environmentally Responsible Economies (www.ceres.org/), ILO standards on labour issues (www.ilo.org), the OECD Conventions on Bribery and Corruption and OECD Guidelines for Multi-national Enterprises (www.oecd.org).

Disclaimer: The English text for all announcements is for information purposes only!

The information in this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, www.gorenje.com, for at least 5 years from the date of this announcement.

Management Board of Gorenje, d.d.

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