Corporate Governance Code defines basic principles for realization business goals of P.S. "Telefonija" a.d. for:

• Economic efficiency improvement
• Shareholders and investors continuous confidence improvement
• Relationship regulation between management, shareholders and employees

Corporate Governance Code is part of broader economic environment in which P.S. "Telefonija" a.d. acts including macroeconomic policies, marketing principles and business ethics. It`s application does not exclude any legislation or bylaws.

Corporate Governance Code is implemented and these parts are governed by it:

• Shareholders Assembly
• Boards (Directors, Executive, Supervisory)
• Management
• Internal and external auditors
• Dependant divisions
• Shareholders and investors
• Employees in P.S. "Telefonija" a.d.

Corporate Governance Code is open for changes according to the trends in good corporate practice and Company`s business goals.