Human Resources, Employment and Work Conditions Policy

Introduction

NetZero is a global company specializing in the long-term removal of carbon from the atmosphere. We transform agricultural waste into biochar, a very stable form of carbon used as a soil amendment. NetZero's mission is to bring biochar at scale in the tropics, with the greater purpose of helping society build a more sustainable world.

This policy establishes the guidelines and objectives of human resources, employment and working conditions at NetZero and provides a framework for the process of managing and evaluating these aspects, both aimed at developing a constructive relationship between employee and company, which gives workers a fair treatment and provide them with safe and healthy working conditions, and as a consequence, that favors the continuous improvement of the efficiency and productivity of the company's operations.

Regardless of this policy, all local laws and regulations applicable to labor management and employment, as well as the recommendations and conventions of the International Labor Organization, must be fully complied with in the locations where NetZero operates.

Statements and Guidelines

NetZero recognizes that the pursuit of economic growth, through job creation and income generation, must be accompanied by the protection of workers' basic rights. NetZero also considers that labor is an asset, and that a solid worker/company relationship is a key ingredient of its sustainability. In addition, here are NetZero's guidelines for the management of human resources, employment and working conditions:

• The establishment, maintenance and improvement of relations between the worker and the company, the promotion of safe and healthy working conditions, and the protection of the health of workers.
• The promotion of relationships based on the principles of fair treatment, non-discrimination and equal opportunities for workers, not allowing employment decisions based on personal characteristics unrelated to the requirements inherent to the service.
• The adoption of measures to prevent and address issues of harassment, intimidation and/or exploitation, especially in relation to women.
• The fight against the use of forced labor and the protection of children.
• Employment of youth under the age of 18, where national laws have provisions for the employment of minors, shall be subject to applicable local laws and to the UN Conventions on the rights of the child.
• Providing workers with clear and understandable information about their rights at the beginning of the employment relationship and when any significant changes occur.
• Providing workers with grievance mechanisms through which they can express their concerns about working conditions.
• The constant engagement with subcontracted companies and their employees, through commercially reasonable efforts, seeking to ensure that the guidelines of this policy are included into the commercial agreements entered with these third-party companies.
• The guaranteed workers' rights to form and to join workers' organizations of their choosing without interference and to bargain collectively.
• NetZero recognizes the importance of protecting workers' rights in any staff reduction process, especially in situations involving collective layoffs. Before making mass layoffs, the company commits to follow a rigorous process that considers viable alternatives to staff reduction, always aiming to minimize adverse impacts on workers and ensure compliance with all local laws, collective bargaining agreements, and principles of justice and non-discrimination. The company will always seek viable solutions, such as worker requalification, internal relocation, and other measures that allow for staff reductions without the need for mass layoffs. NetZero is committed to maintaining a transparent dialogue with its workers throughout the process and compliance with labor rights.

Implementation and Training

This policy, its statements and guidelines must be implemented through specific rules and training in all countries where NetZero operates, with all employees and direct subcontractors, when applicable, and shall be monitored periodically to attest these principles and objectives are met.