GLOBAL ANTI-CORRUPTION POLICY

Foreword by the Chief Executive Officer 2Glencore’s objective – a “Compliance Culture” 31. Introduction 42. What is bribery? 53. Applying the law on bribery in practice 6 3.1. Bribes 6 3.2. Facilitation payments 6 3.3. Extortion 6 3.4. Gifts and entertainment 6 3.5. Intermediaries 7 3.6. Joint ventures and business partners 8 3.7. Community investment projects 8 3.8. Procurement 8 3.9. Political contributions 9 3.10. Charitable contributions and sponsorship 9 3.11. Lobbying 10 3.12. Furtherspecificduediligence 10 3.13. Record keeping 104. Alerting Glencore to bribes and other corrupt practices 11 4.1. No penalty 12 4.2. Being alert 125. Training 136. Breach of anti-corruption laws or these rules and guidelines 14

Contents

2Briberyisacriminaloffence.Itcarriesseverepenaltiesforcompaniesandseverepenaltiesanddisciplinaryissuesforanyofficersandemployeeswhoareinvolvedinanyoffence.Glencore’spositionontheissuesofbriberyandcorruptionisclear.Theoffer,payment,authorising,solicitingandacceptanceofbribes are practices unacceptable to Glencore.

Glencore’ssuccessisfoundedonareputationbuiltovermanyyearsasbeinganhonestandreliablebusinesspartner.Manyofourinvestmentsandbusinessrelationshipsoutlastindividuals,governmentsandevenpoliticalsystems.Anyprofitwhichmayresultfromabusinessventureimproperlyobtainedwillbemorethanoutweighedbythedamagedonetothelong-termbusinessobjectivesandreputationofGlencore.

PleasereadthisPolicycarefully.ItisessentialthatyouobservethespiritaswellastheletteroftheprinciplesandproceduressetoutinthisdocumentwhenactingonbehalfofGlencoreinalljurisdictions.AnyguidanceastowhatthisPolicyrequiresoranysuspicionsthatbreachesofthisPolicyoranti-corruptionlawsareoccurringormayoccurmustberaisedorreportedassetoutbelow.

Ivan Glasenberg Chief Executive Officer

Forewordbythe ChiefExecutiveOfficer

3ThisPolicyisdesignedtohelpyou,asaGlencoreemployee,toplayyourpartinsecuringGlencore’slong term objectives.

One goal of this Policy is to ensure that all of our staffand,wherenecessary,partieswithwhomwedobusinesshaveanawarenessofandcomplywiththeapplicablelawsandregulationswhichrelatetobribes and other forms of corruption.

Wealsohaveawiderandmorefundamentalgoal.Wewanteachofyoutounderstandandsubscribetothe“Glencoreculture”.Putatitssimplest,thatculturerequiresyou-irrespectiveofsubtletiesoflegalinterpretationindifferentcountries-toabideat all times by the highest ethical standards. Our aim istoestablishnotjustasetofruleswhichensurecompliancewithlawsandregulations,butalsotomaintain and develop a culture of compliance and ethicalbehaviourwithinGlencore.

Individual ResponsibilityWe have a philosophy of giving responsibility toindividualswithinGlencoretobuildbusinessrelationships and to develop business. With that responsibility comes the obligation to recognise that yourconductwillaffectGlencoreanditsreputationandthatyoumust,inallofyourbusinessdealings,complywiththeprinciplescontainedinthisPolicy.

Glencore’sobjective– a “Compliance Culture”

The Business Ethics CommitteeLawsdifferfromcountrytocountry.Officersandemployees may on occasions be faced by situations wherewhatisacceptableandwhatisunacceptablewillnotbeclear.Recognisingthedifficultiesofficersandemployeesmayface,wehaveestablishedaBusinessEthicsCommittee(“BEC”).

TheBECanditsSub-Committeehavethefollowingduties:todevelop,determineandtokeepunderconstantreviewGlencore’spoliciesfor the prevention of unethical business practices andmisconduct,andtodetermineandreviewtheprocedures and guidelines necessary to realise suchpolicies,suchasGlencore’sThirdPartyDueDiligenceGuidelines.

The contact details of the members of the Business EthicsCommitteeareavailableintheCompliancesection of the Glencore intranet.

How to raise concernsIf you ever have a concern that any conduct or proposed course of action might be improper and/orinbreachofanyapplicablelawsorregulationsrelatingtobribesorothercorruptpayments,thenyoumustreferthatconcerntoyoursupervisor,manager or the appropriate Compliance contact whosedetailsareintheCompliancesectionoftheGlencore intranet.

4This Policy sets out the rules and guidelines for companies in the Glencore Group on the prevention of bribery.

ItappliestoGlencore’smarketingactivitiesandindustrial operations controlled by the Glencore Group. It applies to all permanent and temporary employees,directorsandofficersaswellascontractors(wheretheyareunderarelevantcontractualobligation),and,totheextentprovidedforinthisPolicy,all“associatedpersons”ofGlencore and their employees.

“Associatedpersons”means,forthepurposesofthisPolicy,anyindividualorcompanythatactsonbehalfofGlencoreorotherwiseperformsany services for or on behalf of Glencore in any capacitywhatsoever.Atypicalexampleisasalesagent,butadvisers,consultants,brokersandjointventurepartners,forexample,mayalsobeassociated persons. Glencore employees must take all appropriate steps to ensure as far as possible that associatedpersonscomplywiththisPolicyanditisimportantthatourinteractionwiththesegroupsisdocumented and accounted for appropriately and transparently.

1. Introduction

Furtherspecificrequirements,suchasduediligenceprocessesandrequiringappropriatecontractualundertakingstocomplywiththeseprinciples,aresetoutinthisPolicy,Glencore’sThirdPartyDueDiligenceGuidelinesandotherrelated Glencore guidelines

IfyouhaveanyquestionsonthisPolicyoryouareunclearonhowyoushouldactinaparticularsituation,youmustbeforeactingaskyoursupervisor,managerortheappropriatecompliancecontactwhosedetails are in the compliance section of the Glencore intranet.

5Briberyisaformofcorruption.Definedsimply,corruptionisthemisuseofentrustedpowerforprivatebenefit.

Abribeisanyfinancialorotheradvantagewhichisoffered,provided,authorised,requestedorreceivedasaninducementorrewardfortheimproperperformanceofaperson’srelevantfunctionorthereceiptofwhichinitselfwouldconstituteimproperconduct. In some jurisdictions it can include simply conferring any value or advantage on an employee or individual employed as an agent if there is ariskthatitsacceptancewillbeconcealed from the employer.

Abribecanincludemoney,oranyoffer,promiseorgift of something of value or advantage. It need not necessarily be of large value at all. It might include entertainment,travel,incentiveprograms,signingbonuses,anofferofemploymentorinternship,overpayinggovernmentsuppliers,orrebatesor“kickbacks” in relation to services provided to Glencore.Itmightalsoincludeintangiblebenefitssuch as the provision of information or assistance in obtainingabenefitoradvantage.

Forthesepurposes,a‘relevantfunction’canincludeanyfunctionofapublicnature,anyactivityconnectedwithabusiness,anyactivityperformedinthecourseofaperson’semploymentandanyactivity performed by or on behalf of a body of persons(e.g.acompany).Anysuchfunctionisperformed‘improperly’byapersoniftheyperformitinbreachofwhatwouldbeexpectedofthembya reasonable person by reference to any applicable requirementsofgoodfaith,impartialityoranypositionoftrustwhichthatpersonmayhold.

Importantly,specificrulesapplytodealingwithpublicofficials.Abribeinthiscontextcanalsoincludeofferingorprovidingtopublicofficialsanyfinancialorotheradvantageinorderto(orevenhavingtheintentionto)influencetheminanywayintheirofficialcapacityforthepurposeofobtaininganadvantage.Thiscanincludeinfluencingapublicofficialtodosomethingwhichiswithinthescopeoftheirpublicdutiesorwhichtheymayotherwisehave done in any event.

Forthesepurposes,“publicofficials”canincludethefollowing.Thislistisnotexhaustive:

• anyofficer,employeeorrepresentativeof,oranypersonotherwiseactinginanofficialcapacityfororonbehalfof,a“governmentauthority”;

• “government authorities” for this purpose include nationalorlocalgovernmentalinstitutions;associations,enterprisesorcompaniesownedorcontrolledbygovernments;andsupra-nationalorganisations;

• legislative,administrativeorjudicialofficials;• anofficerof,orindividualholdingapositionin,apoliticalpartyorapoliticalcandidate;or

• apersonwhootherwiseexercisesapublicfunctionfor or on behalf of any country.

Section3ofthisPolicysetsoutanoverviewofhowthevariousapplicablelawsshouldbeappliedtoyourdaytodaybusinessdealingsonGlencore’sbehalf. If you are still unclear or have any other questions,youshouldconsultyoursupervisor,manager or the appropriate Compliance contact whosedetailsareintheCompliancesectionoftheGlencore intranet.

2. What is bribery

63.1. BribesOfficers,employeesandassociatedpersonsofGlencoremustneversolicit,accept,offer,provideorauthorisebribesofanykindoranythingwhichmaybe construed as a bribe either directly or indirectly. Noofficer,employeeorassociatedpersonofGlencore may perform their functions improperly in anticipationorinconsequenceofanybribe.

Allofficers,employeesandassociatedpersonsofGlencoretakeresponsibilityforknowingwhatthelawpermitsinanyrelevantcountryofoperationregardinganybenefitsgivenorreceivedbythemorontheirbehalf.Thisincludeswhetherany particularpersonwithwhomtheyaredealingis apublicofficial.

If you are unsure of the details of any potentially applicableanti-corruptionlawyoushouldseekfurtherguidancefromyoursupervisor,manager or the appropriate Compliance contact whosedetailsareintheCompliancesectionof the Glencore intranet.

3.2. Facilitation paymentsApublicofficialmay,inreturnforasmallpayment,offertoenableorspeedupaprocessthatishisorherdutytoperformsuchasissuingpermits,licenses,orotherofficialdocuments,processinggovernmentalpapers,suchasvisasandworkorders,providingpoliceprotection,mailpick-upanddelivery,providingutilityservicesandhandlingcargo. Such payments are often called facilitation payments. Facilitation payments should not be made.

Ifyouareinanydoubtastowhetherarequestedor proposed payment may constitute a facilitation

paymentorifyouhaveotherquestionsinconnectionwithfacilitationpaymentsyoushouldfirstcontactyoursupervisor,managerortheappropriateCompliancecontactwhosedetailsareinthe Compliance section of the Glencore intranet.

3.3. ExtortionGlencoreanditsofficers,employeesandassociatedpersonsshallrejectanydirectorindirectrequestbyanythirdparty(includingbutnotnecessarilylimitedtoapublicofficial)forabribe,evenifGlencoreisextortedwithadverseactions.

Glencorerecognisesthat,inraresituations,anemployee’sownwelfareandsafetycouldbeatriskifheorshefailstocomplywithsucharequest.Ifyoufindyourselfinthissituation,youshouldneverput yourself in danger and should take reasonable actions to remove yourself from danger. You should promptly report any such situation to the appropriate Compliance contact.

3.4. Gifts and entertainmentExchanging gifts and entertainment can create goodwillandestablishtrustinrelationshipswithcounterparties and other business partners. It is important,however,thattheguidelinessetoutbelowarefollowedinallcases.

3.4.1.GeneralrequirementsGlencore’sofficers,employeesandassociatedpersonsmaygiveandreceiveappropriate,lawfulbusinessgiftsandentertainmentinconnectionwiththeirworkforGlencore,providedthatallsuchgiftsand entertainment satisfy the general principles set outinthisPolicyandarenotgivenorreceivedwiththeintentorprospectofinfluencingtherecipient’sdecision-makingorotherconduct.

3.Applyingthelawonbribery in practice

The criminal and civil prohibitions on bribery mean that you must observe thefollowingrulesandprinciplesatalltimes

7Wheneveryouareconsideringoffering,acceptingorprovidinggiftsorentertainment(whichinclude,forexample,meals,charitableandsportingevents,partiesandconcerts),youmustensurethatsuchgiftsorentertainmentshall:

• beingoodfaith,occasional,appropriate andreasonable;

• complywithanyapplicablelaws,includingthosewhichmayapplytoanyrelevantpublicofficialsorgovernmentauthorities;

• complywithanypolicyorprocedurerelatedto gifts and entertainment applicable at your marketingofficeorindustrialoperation;

• constituteanormalbusinesscourtesy(suchaspayingforamealorsharedtaxi);

• not reasonably be capable of being regarded inanywayasabribe(e.g.thatitwasoffered,provided,authorised,requestedorreceivedasaninducementorrewardfortheimproperperformance of a relevant function of the recipient oritsoffer,provision,requestorreceiptwasotherwiseimproper);

• wheregiftsorentertainmentareprovided,beapproved and personally reclaimed in accordance withtheappropriatebusinessexpensepoliciesand procedures of the relevant Glencore Group company;and

• never be a payment of cash.

3.4.2. Obtaining further guidance If you are in any doubt as to the appropriateness ofagiftorofferofentertainmentyoushouldtakethemattertoyoursupervisor,managerortotheappropriatecompliancecontactwhowilldeterminewhatcourseofactionshouldbetaken.Dependingonthecircumstancesandafterdiscussionwithyour

superior or the appropriate compliance contact a gift receivedmaybe:

• retainedbyyou;• donatedtoacharityofyourchoice;or• returned to the giver.

3.5. IntermediariesAn“intermediary”means,forthepurposesofthisPolicyandGlencore’sThirdPartyDueDiligenceGuidelines,anythirdpartyengagedbyoronbehalfofGlencoretoassistin:

• obtainingand/ormaintainingbusiness;• engagingwithgovernmentauthoritiesregardingtheobtainmentoflicenses,permitsandothergovernmentauthorisationsorregardinglevies,taxesandduties(“governmentdecisions”);or

• maintainingrelationswithgovernmentauthorities,includinglobbying(see3.11below).

Theymayinclude,forexample,businessagents,consultantsandadvisers.Theymayalsoinclude,forexample,licensingspecialists,accountantsandotherprofessionalswhohavebeenappointedtoassistinengagingwithgovernmentauthoritiesregardinggovernment decisions.

The use of intermediaries does not absolve you or the relevant Glencore Group company from responsibility since actions undertaken by theminsupportofGlencore’sbusinessmay belegallyattributabletotherelevant Glencore Group company.

Detailedguidanceastothekeypointsandprocedures for appointing intermediaries are

3.Applyingthelawonbriberyinpractice(continued)

8setoutseparatelyinGlencore’sThirdPartyDueDiligenceGuidelineswhichformpartofthisPolicy.Insummary,thoseguidelinessetouttheduediligencerequiredbeforeGlencoremayengageany intermediaries. They also make clear that intermediariesshouldbemadeawareofGlencore’srules and guidance on corruption. Their services mustnotbeengagediftheyarenotwillingtoconform to these standards.

IfyouareinanydoubtastowhetherthisPolicyorGlencore’sThirdPartyDueDiligenceGuidelinesapply to the engagement of any particular third party you should seek further guidance from the appropriate Compliance contact.

3.6. Joint venturesA“jointventure”means,forthepurposesofthisPolicy,anycommercialarrangemententeredintobyGlencorewithoneormoreotherentities(or“jointventurepartners”)throughwhichthereisanagreementtojointlyundertakeaspecificbusinessenterpriseorshareintheprofitofabusinessventureunderaprofitshareagreement.

Jointventurepartnersareexpectedtooperatewithintegrityandwillberequiredtorefrainfrompayingor receiving bribes on behalf of Glencore.

Joint venture partners should give assurances to Glencorethattheywillconformtoallapplicableanti-corruptionlaws.FailurebythemtoobservesuchapplicablelawscouldcreateanexposureforGlencore,astheactsofthejointventurepartnerscouldbelegallyattributabletoGlencore.Glencore’srelationshipwithanyjointventurepartnershouldbe subject in advance to appropriate due diligence andshouldberecordedinwritinginsuitabledetail.

Insomeinstances,thejointventurearrangementisenteredforanextensiveorindefiniteperiodof time. It is important that appropriate due diligenceisundertakenwhenevernewcommercialarrangementsareenteredintowiththejointventurepartner,includingtheprovisionofloansortheundertakingofanew,separatebusinessenterprise.

Detailedguidanceastothekeypointsandprocedures for entering into joint ventures are setoutseparatelyinGlencore’sThirdPartyDueDiligenceGuidelineswhichformpartofthisPolicy.

3.7. Community investment projects Insomeinstances,Glencoreisrequestedbybusinesspartners or government authorities to contribute to major public or other projects in the relevant localjurisdiction.Thiscaninclude,forexample,thedevelopmentoflocalcapacityorinfrastructure(suchastheconstructionofalocalschoolorstadium).Such practices are often referred to as community investmentprojects.Glencore’srelationshipwiththird parties arranging the community investment project should be subject in advance to appropriate due diligence.

Detailedguidanceastothekeypointsandprocedures for contributing to community investmentprojectsattherequestofbusinesspartners or government authorities are set out separatelyinGlencore’sThirdPartyDueDiligenceGuidelineswhichformpartofthisPolicy.

3.8. ProcurementContractors,suppliersandotherbusinesspartnersmustbeengagedthroughafair,formal processthatincludes,whereappropriate,written anti-corruptionrequirements.

9You must ensure that all activities and transactions areproperlyauthorised,accuratelyrecordedandundertakeninamannerconsistentwithGlencorepoliciesandapplicableanti-corruptionlaws.

You should base any procurement and contracting decisions on the best value expected to be received,takingintoaccountthemeritsofprice,quality,performance,competency,complianceandsuitability(includingsustainabilitycriteria).Noofficersoremployeesmaysolicitoracceptanyfinancialorotheradvantagewhichisoffered,provided,authorised,requestedorreceivedas aninducementorrewardfortheimproper performance of their duties related to procurement or contracting decisions.

Officersandemployeesmustbevigilantinconsidering the risks presented by any potential procurement or contracting partners. If you have anyconcernsastowhetherengaginganythirdparty may violate the principles set out in this Policy,particularlybyreferencetothe“beingalert”incidentssetoutatsection4.2below,youmustreferthoseconcernstoyoursupervisor,managerortheappropriate Compliance contact.

3.9. Political contributions3.9.1.Politicalcontributionsbyoronbehalfof,orinthenameof,GlencoreAs part of our business principles Glencore does not permit any of its funds or resources to be usedtocontributetoanypoliticalcampaign, politicalparty,politicalcandidateoranyoftheir affiliatedorganisations.

3.9.2. Personal political contributions by employees and other individuals Glencoreofficersandemployeesmaymakepersonalpolitical contributions and be involved in political activityintheirowntime.However,sincetheyarealso employees of Glencore and their activities may sometimesbemistakenfortheactivitiesofGlencore,theymust:

• notusecompanytime,propertyorequipmentto carry out or support their personal political activities;

• alwaysmakeclearthattheirviewsandactionsaretheirownandnotthoseofGlencore;and

• never seek reimbursement in any manner from Glencore for such contribution.

3.10. Charitable contributions and sponsorshipGlencoreanditsofficers,employeesandassociatedpersons may make charitable contributions or sponsorships on behalf of or in the name of Glencore onlyforbonafidecharitablepurposes(i.e.giventoacharitableorothernot-for-profitorganisationforwhichnotangiblebenefitisreceived,orexpectedtobereceived,byGlencore).

However,thismustbeinaccordancewithallapplicablelawsandregulations.Guidanceastothekey points and procedures for making charitable contributionsaresetoutseparatelyinGlencore’sThirdPartyDueDiligenceGuidelineswhichformpart of this Policy.

3.Applyingthelawonbriberyinpractice(continued)

103.11. LobbyingAlthough Glencore does not directly participate inpartypolitics,itdoesonoccasionengageinpolicy debate on subjects of legitimate concern to itsbusiness,employees,customersandendusersandthecommunitiesinwhichtheyoperate.AnyGlencoreofficer,employeeorassociatedpersonwholobbiesonbehalfofGlencoremustcomplywithallrequirementsofapplicablelawsandregulation(includingbutnotlimitedtocomplyingwiththelawsandregulationsrelatingtoregistrationandreporting).Guidanceastothekeypointsandprocedures for lobbying on behalf of Glencore are setoutseparatelyinGlencore’sThirdPartyDueDiligenceGuidelineswhichformpartofthisPolicy.

3.12. Further specific due diligenceDependingontheextentofcorruptionriskwhichanyparticularpartnership,arrangementorprojectmay raise and the identity and nature of the operationsofanyrelevantpartners,furtherspecificduediligenceandanti-corruptioncertificationsmayberequiredbeforeGlencoreengagesinsuchpartnership,arrangementorproject.Ifyouarein any doubt as to degree of due diligence and theformandsubstanceoftheanti-corruptioncertificationsthatmayberequired,youshouldseekfurther guidance from the appropriate Legal and Compliance contact.

3.13. Record keepingEach Glencore Group company shall maintain a recordofthefollowing:

• Allduediligenceundertakeninrelationto,andallapprovalsof,anyoftherelationshipsorprojectssubjecttoGlencore’sThirdPartyDueDiligenceGuidelines.

• A record of any refusal of approval of any such relationshipsorprojectstogetherwithasummaryof the reasons for such refusal.

All transactions must appear accurately and properlyinGlencore‘sbooksandrecords.Theymust be carried out pursuant to current Glencore internalcontrolrequirements.

Glencore employees must keep accurate records andevidenceofanypermittedtravel,hospitality,entertainment,giftsandanyotherexpensesincurredor receipts taken on behalf of Glencore. Employees must submit such records and evidence to the relevant accounting department on a timely basis.

Strict adherence to established Glencore procedures for opening and closing bank accounts is also necessary to ensure proper control over disbursements of funds.

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4. Alerting Glencore to bribes and other corrupt practices

If you have any concern that the making or receipt of a payment or the takingofaparticularcourseofactionmightbreachanti-corruptionlawsortheprinciplescontainedinthispolicy,orifyoususpectthatbreachesofcorruptionlawsorthispolicymaybeoccurringorareabouttooccur,youmustreferthatconcerntoyoursupervisorormanager(providedtheyarenotthesubjectofyoursuspicionorquery),theappropriatecompliancecontactwhosedetailsareinthecompliancesectionoftheGlencoreintranetorbywritingane-mailtoCodeofConduct@glencore.comoraccessing www.glencore.com/raising-concerns/

124.1. No penaltyNoemployeewillsufferdemotion,penaltyorotherdisciplinary action for reporting a suspected breach ofthisPolicy,orforrefusingtopayabribeevenwhenGlencoremaylosebusinessasaresultoftheemployee’srefusaltodoso.

4.2. Being alertOfficers,employeesandassociatedpersonsofGlencoreshouldalwaysbealertinrelationtopotentialoccurrenceofcorruption,suchas:

• acustomer,agentorotherassociatedpersonwhohas a close personal or professional relationship (whetherasemployee,contractor,associate,familymemberorcloseacquaintance)withor,inthecaseofacompany,whichisbeneficiallyownedby,agovernment,publicofficialorotherrelevantthirdparty(suchasapotentialcustomer);

• acustomer,agentorotherassociatedpersonwhowasrecommendedbyapublicofficialorotherrelevantthirdparty(suchasacustomer);

• unusualorsuspiciousrequestssuchasforpaymentsthatareincash,urgent,unusualorunexplained and for the use of shell companies or blindtrustsforanyproposedtransaction;

• large payments for lavish entertainment or travel expensesforthirdparties;

• lack of transparency in expenses and accounting recordsofanagentorotherassociatedperson;

• lackoffacilitiesonewouldusuallyexpectofanassociated person carrying out services on behalf ofGlencore;

• referencechecksagainstacustomer,agentorotherassociatedpersonrevealingaflawedbackgroundor track record and/or raises concern as to the thirdparty’sintegrity;

• arefusaltoagreetonon-corruptionprovisionsinagreementsortoprovidefulldetailsofwhatservicesathirdpartywillcarryoutorhascarriedoutonbehalfofGlencore;

• requeststoprepareorexecutefalseorinaccuratedocuments and any indication that information hasbeendeliberatelyomittedfromGlencore’srecords;

• statementsthatshouldputoneonnotice(suchas an associated person boasting about their connectionsorsuggestingthatnoquestionsbeaskedabouthowtheyareabletogetthingsaccomplished);and

• businessoperationsinacountryorregionwithahistory of corruption.

The presence of one or more of these incidents does not necessarily prevent Glencore or any associated personsfromprogressingwithanyparticularbusinessopportunity.However,furtherguidancefromtheappropriateCompliancecontactwillbenecessaryaswellas,ifconsideredappropriatebyCompliance,furtherenquiriesorduediligencebefore any further action is taken in relation to any suspicioustransactions,requestsorother courses of action.

13AllrelevantGlencoreofficersandemployees(whetherpermanentortemporary)aretoreceiveregular and appropriate training relating to this and relatedpoliciesandproceduresandanynewlyhiredofficersandemployeeswillreceivesuchtrainingaspart of their induction.

The extent and nature of such training shall be definedbyreferencetotheirbusinessunitandwillreflecttherisksfacinganemployeeintheirroleinthat unit.

Records of all completed training sessions undertakenbyofficersandemployeesaremaintained by the appropriate Compliance or HumanResourcescontact.

5. Training

14Glencoreregardsanybreachofapplicableanti-corruptionlawortherulesandguidelinescontainedinthisPolicyandGlencore’sThirdPartyDueDiligenceGuidelinesasaveryseriousmatter. If reasonable grounds exist for demonstrating deliberate or grossly negligent conduct then dismissalmayfollow.Glencorewillnothesitatetoinvolvethelaw.However,itwillensurethatbreachesareobjectivelyinvestigatedandthatstaffinvolvedwillhavetherighttostatetheircase.

Glencoreemployeesinbreachofapplicableanti-corruptionlawsmayalsobesubjecttociviland/orcriminalprosecution.Thebusinessrelationshipwithnon-employeesofGlencorewhobreachthisPolicywillbeterminated.

Glencore’sinternalauditfunctionwillconductperiodicnon-financialriskreviewsincludingreviewsofthecompliancerecordsmaintainedbythebusiness units.

6.Breachofanti-corruptionlaws or these rules and guidelines

15www.glencore.com

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