PPC S.A. upon approval of the Board of Directors has drawn up and implements a Corporate Governance Code establishing the framework and the guidelines of PPC corporate governance.

According to the OECD principles of Corporate Governance, corporate governance involves a set of relationships between the company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, the means of attaining those objectives are determined, the key risks that the company faces are identified, and management’s performance in respect thereof is being monitored. It is by this structure that companies also organize their risk management system.