Corporate Governance

Code of Business Ethics

Internal Act

The values, principles, and rules of conduct that govern the daily work of Pantelić Group, its operating companies, and every individual who acts in the name of the Group. This Code is an internal act, mandatory for all employees of the Group's companies and binding for the senior leadership.

Dušan Šebek, CEO of Agro-Industrial Division at Pantelić Group
From the CEO

Dušan Šebek

CEO, Agro-Industrial Division

A Word From the CEO

Honesty, respect, and trust

"

In modern business, professional ethics has become one of the most important conditions for lasting success. The results we deliver across our food production, agriculture, and hospitality operations, the continuity of our growth, and the trust we have built with partners, customers, and communities throughout Central Serbia and beyond are the natural consequence of the way we choose to conduct ourselves every single day.

Honesty, respect, and trust are the three pillars upon which Pantelić Group has been building its business and corporate culture from its earliest days. We deeply believe that these values guarantee exemplary conduct from every member of our team, personal and corporate integrity, and our standing as a quality long-term partner.

Recognising the need to align the conduct of business entities not only with legal requirements but also with fundamental moral principles and standards, and the importance of strengthening business ethics in service of better relationships with partners, the public, and our wider community, Pantelić Group expresses through this Code its values, principles, and rules of conduct.

The Code of Business Ethics of Pantelić Group is an internal act that we consider an inviolable document for the senior leadership, mandatory for every employee of every company within the Group, and highly significant for the development of long-term, quality relationships with our partners, customers, and the wider social environment in which we operate.

Dušan Šebek

CEO, Agro-Industrial Division

Adopted by the Group 2026
Chapter 01 Guiding Principles and Rules

Practice has confirmed our values

"

From a single feed-production operation in a Kraljevo village to a holding that today brings together animal nutrition, poultry, frozen-fruit export, and hospitality, the same principles have guided our work the whole way through. Only an honest approach and responsible conduct ensure mutual trust and respect within our teams and in every relationship with partners and customers.

All employees of the Pantelić Group operate on the basis of values and principles that integrate professional standards and the rules of each profession with moral and ethical norms. Throughout the years of operation across our feed mill in Ratina, the broiler farms of Aviprom in Metikoš, the cold-storage and IQF freezing plant of Panberry, the spa resort of Hotel Sunce in Sokobanja, and the city hotel Hotel Botika in Kraljevo, the Group has consistently maintained the conviction that, in business as in life, only honest dealing and responsible conduct can sustain trust over time.

For that reason, we set down in this Code everything we have always insisted upon, both the unwritten conduct that is immanent in the daily work of our employees, and the formal standards, policies, and rules that guide our operations.

/ 01 / What We Imply

Standards we take for granted

  • Work discipline and personal responsibility for the quality of every task performed.
  • Inviolability of company property across our facilities, farms, hotels, and offices.
  • Adherence to all quality standards and environmental protection requirements that govern our operations.
  • Strict respect of established procedures for performing every type of work.
  • Compliance with laws and regulations, decisions and instructions of supervisors.
  • Respect for the terms of every contract concluded by the companies of the Group.
  • Adherence to professional business etiquette in all internal and external communication.
  • Democratic decision-making, disciplined execution.
  • Treatment of every employee with respect and full protection of their human rights.
/ 02 / What We Expect

What we expect from our people

  • Genuine commitment to the work, to the team, and to the standards of the Group's operations.
  • Customer orientation and the drive for continuous growth in both the domestic and international markets we serve.
  • Clear focus on the targets set within each role and each site of the Group.
  • Impartial and correct conduct within the company and towards every business partner.
  • Openness in communication, both within the team and with external parties.
  • Continuous improvement of professional knowledge and practical skills.
  • Strong orientation towards teamwork across departments, companies, and locations of the Group.
/ 03 / What We Value

What we especially value

  • Loyalty to the company and a sense of belonging to the wider Group.
  • Ongoing improvement of processes, products, and services, and creativity in solving everyday operational challenges.
  • Innovation in production, quality, sales, and the way we serve our guests and customers.
  • Business decisiveness and entrepreneurial initiative when opportunities arise.
  • Personal and professional integrity of every employee, on every level of the organisation.

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