Dear colleagues,

One of the legacies of the Mahindra Group, through 75 years in operation, has been our unwavering focus on ethics. Our foundations are laid on the principles of good governance and we are guided by our values, whether it is in business or in our dealings with our employees, customers, partners, shareholders and communities. It is the responsibility of each one of us to uphold these values and live by them each day.

We have prospered as an organisation because we have a very strong team of professionals who are passionate, loyal and firmly believe in our ethos. Our organisational culture promotes transparent, fair and ethical decision-making. We have well-defined policies and a Code of Conduct in place that serves to guide us in the right direction.

It is imperative that all of us strictly adhere to these guidelines.

At Mahindra, we have zero tolerance towards unethical behaviour and non-compliance with our Code of Conduct. We have instituted a rigorous process that is objective, transparent and which escalates to the highest levels, ensuring neutrality and fairness while evaluating any events of violation of the Code.

If you notice any violations related to the Code of Conduct, I urge you to ’Speak-Up’ and report them through the Ethics Helpline, managed by Convercent, an external partner known for its expertise in this area. The helpline ensures that your concerns and conversations remain completely anonymous. You can access the helpline on a toll-free number: 0008001004175 or log onto: https://ethics.mahindra.com

Our reputation as an ethical organisation is something we all take immense pride in. I seek your partnership in practising our values and ensuring that we continue to live by our core purpose of ‘Rise’.

Thank you,

Rajesh