Specific governance and

guidelines for ethical issues

The LVMH Code of Conduct, which serves as a com-

mon core of ethics for the Group and its Maisons,

outlines the rules to be followed by all employees as

they go about their work. The Group updated the

Code in April 2024 to reflect its heightened commit-

ments to ethics, integrity, social responsibility and

respect for the environment.

In addition, following on from the LVMH Code of Conduct,

the Group’s Anti-Corruption Charter was published in

April 2024: it applies to all employees and forms a

common framework in terms of corruption prevention.

LVMH also requires its partners to adhere to the prin-

ciples set out in its Business Partner & Supplier

Code of Conduct with regard to business ethics and

integrity, labor standards and environmental compli-

ance. The Code was updated for the third time in

September 2024.

The Group has a dedicated governance structure that

ensures its values and ethics rules are applied at the

operating level. In particular, the Ethics & Compliance

Department establishes and coordinates (together

with its network of correspondents within the

Maisons) LVMH’s ethics policy with regard to the fight

against corruption and money laundering and compli-

ance with international sanctions. The Group’s pro-

gress is regularly presented to the Board of Directors’

Sustainability & Governance Committee, whose role

is to ensure compliance with the values on which the

Group bases its actions.

Ethical approach focused

on continuous improvement

The Group’s ethical approach is underpinned by

four key priorities for action:

Identifying risks

The Group’s activities are subject to regular risk anal-

ysis, particularly as regards anti-corruption measures.

These risk maps enable the Maisons to better manage

their risks and ensure that their anti-corruption systems

are rolled out effectively within the organization.

Preventing risks

Particular emphasis is placed on training employees in

order to guide their actions on a daily basis and, more

generally, to foster a culture of ethics within the Group

and its Maisons.

In addition to the anti-corruption awareness initiatives

implemented by the Maisons, the Group also rolled out

an e-learning module to tie in with the publication of

the new LVMH Anti-Corruption Charter. An e-learning

module designed to raise awareness of the principles

underpinning the LVMH Code of Conduct was also

rolled out at a Group level in the second half of 2024.

Exemplary

ethical standards

The Group has established principles and rules

of conduct that must guide the day-to-day conduct

of all its employees and partners with respect

to ethics as well as social and environmental responsibility.

In addition, the Maisons assess the integrity of third

parties with which they do business in order to identify

any risks and take any necessary remedial measures.

Detecting compliance failures

Employees and external stakeholders are asked to

report any ethical concerns. In addition to the existing

reporting channels within the Maisons, the Group’s

employees and stakeholders have access to LVMH

Alert Line, an online whistleblowing platform for

securely and confidentially reporting any situation

that may constitute a violation of laws, regulations or

internal rules of conduct.

To ensure that the ethics-related measures it has

implemented are effective and efficient, the Group

has established a series of internal checks with regard

to the fight against corruption and money laundering,

and ensuring compliance with international sanctions.

Correcting compliance failures

Should any compliance failures be detected, correc-

tive measures are taken and action plans are imple-

mented, with the aim of continuously improving the

ethics program.

Employees who violate the Group’s internal rules

will be subject to disciplinary sanctions that may

include dismissal.