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One of Anhanguera’s principles is to conduct its business in a responsible and ethical manner, and the same applies to the conduct of its employees. Unrestricted adaptation to this conduct is fundamentally important for the Company’s reputation and integrity. Thus the Code of Conduct was prepared by the Company’s executive board in accordance with the principles and policies defined and approved by its board of directors, with the aim of assisting in guiding the conduct of Anhanguera’s management and employees in different circumstances.