Corporate Social Responsibility Policy

Versapak believes in ethical manufacturing and reusable products.

Our corporate social responsibility (CSR) policy refers to our responsibility towards our environment. Our goal is to ensure that we operate ethically, taking into account human rights and the social, economic, and environmental impacts of our business activities. Our culture and values are rooted in service, integrity, and personal responsibility for our actions, our results, and our reputation.

This policy applies to our company and its subsidiaries. It may also refer to suppliers and partners. We will continuously improve our corporate and social responsibility.

We want to be a responsible company that meets the highest standards of ethics and professionalism.

• Employees and people: We take our responsibility to protect, support, and prepare our employees for successful careers seriously. We set standards in areas such as occupational safety, health and well-being, diversity and inclusion, and training and development. We believe in equal opportunities for all and are unwavering in our commitment to equal opportunities, the protection of human rights, and the prevention of human trafficking.
• Ethics: Versapak is committed to doing the right thing, acting in a lawful, ethical, and trustworthy manner, and complying with our regulatory obligations.
• Commitment: Versapak understands that it takes all of us working together to make a difference. We strive to work with suppliers who employ socially responsible business practices.
• Environment: We recognize a shared responsibility to protect our planet. Although our facilities and operations have a small environmental footprint, we reduce our environmental impact through conservation, nature preservation, and waste reduction measures.

We will always conduct business with integrity and respect for human rights.

• There are mechanisms in place to prevent dishonest or unethical behavior and to promote a culture of honesty and accountability. The policy outlines the responsibilities of our employees, including our suppliers, who are aware of their obligation to conduct themselves in a legal and ethical manner.
• We treat all employees with dignity and respect and comply with all applicable laws and regulations relating to labor and human rights.

Our company recognizes the need to protect the natural environment. Maintaining a clean and unpolluted environment is beneficial to everyone.

In addition to its legal obligations, our company will proactively address environmental protection. Examples of relevant activities include:

• Reuse and recycling
• energy saving
• Use of environmentally friendly technologies

Versapak recruits locally wherever possible.

We support local charities every year.

We will actively invest in R&D. We will be open to suggestions and listen carefully to ideas. Our company will strive to continuously improve how it operates.

As a manufacturer, we believe it is crucial to deliver the best quality to our customers while also caring for our employees, and we undergo regular independent CSR audits. The audit examines all aspects of Versapak's operations to ensure that our facilities and processes meet acceptable standards of welfare and conditions for all our employees.

We take pride in manufacturing high-quality products in our own production facilities, and we insist on the highest standards of employee and environmental well-being. We will continue to invest in employees and resources to remain at the forefront of ethical manufacturing.

We make bags and carriers that can be used at least 2,000 times; we are passionate about creating high-quality products that last. We guarantee all our sewn products for at least five years, and we have customers who have been using the same bags for decades. For us, that's just the starting point. We balance our use of robust materials with the certainty that we source from reputable and responsible suppliers.

Versapak security seals are 100% recyclable and can be recycled like any other recyclable waste. We operate a "return and recycle program" for used plastic security seals. Customers can return their used seals to Versapak free of charge using a collection bag with a free address label. We then shred them to make new ones.

In addition to our security seals, we also run a "Recycle your Versapak" program, where we use surplus material and transform it into pencil cases for charitable causes. We also take back old bags and turn them into groundsheets for homeless people.

Our security seals with locking mechanisms are made from recycled plastic. Our state-of-the-art injection molding machines melt down recovered, recycled material and process it into our security seals.

We invest in our manufacturing equipment to ensure that it is as energy efficient as possible. In 2021, we installed a new injection molding machine to manufacture our safety seals. Not only does this make economic sense, it also recycles plastic waste to produce new seals.

Versapak is committed to the highest standards of professionalism, ethics, and integrity. We take our responsibility as a corporate citizen very seriously and strive to ensure that the conduct and practices of our suppliers are consistent with our business ethics and respect for fundamental labor rights.

Accordingly, Versapak International undertakes to ensure that all suppliers and directly employed staff comply with all applicable laws and regulations against slavery and human trafficking, including the provisions of the Act.

We have a zero-tolerance policy toward modern slavery, and we are committed to acting with ethics and integrity in all our business relationships and practices. We will not tolerate any business practices that would constitute a criminal offense under the law.

We expect all our suppliers to adhere to the same high standards and expect our suppliers to hold their own suppliers to the same high standards.