Ovostar Union

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Corporate Governance Rules

As the company is registered in the Netherlands and listed on the Warsaw Stock Exchange, the Board of Directors of Ovostar Union N.V. has decided to observe the applicable WSE Corporate Governance Rules as well as the Best Practice Provisions of the Dutch Corporate Governance Code. The Codes are similar in their requirements and the Ovostar Union N.V. meets most of the applicable principles and requirements of both. Ovostar Union N.V. undertakes to publish the non-compliance items. The latest description of non-compliance items can be found in the Annual Report of the Group for the year 2011.

Statement of non-compliance with certain WSE rules

Board Securities Rules

Terms of Reference Audit Committee

Terms of Reference Board

ANNEX 2.5 Code of Conduct

ANNEX 7.1  Matters requiring affirmative vote

ANNEX 9.3 Whistleblower Rules