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Code of conduct

On September 5, 2006, the Board of Directors adopted, at the same time as the Board Rules, the Capital Markets Code of Conduct (the ‘‘Capital Markets Code’’) (Reglamento Interno de Conducta en los
Mercados de Valores). The Capital Markets Code regulates the conduct of directors and management in relation to the treatment, adequacy and disclosure of material information relating to Vocento. The
Capital Markets Code applies to all of our directors, senior management and employees who have access to material non-public information and to our advisers when they handle such material non-public
information.
Pursuant to the Capital Markets Code, we are responsible for appointing the person or persons who will be responsible for the implementation of, adherence to, and accountability for, the Capital Markets
Code. The Board has appointed the Board Secretary, who is responsible for the implementation of the Capital Markets Code.


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