Chairman’s Message 2

President & CEO’s Message 3

We are Responsible 4

We are Dedicated 5

We are Respectful 6

We are Honest 7

We are Creative 8

We are Leaders 9

2

We first introduced our Guiding Principles in 2002 as part of a company-wide corporate culture project. One of our primary objectives was to communicate our company’s core values. This was done to ensure that as Acadian Seaplants grew, it would remain a good place to work and that its good reputation would be safeguarded. These goals are just as important today.

Over the years, I have seen our employees move beyond the spirit and intent of the Guiding Principles and in doing so have helped make Acadian Seaplants an ’Employer of Choice.’ Our employees are fully engaged and have developed the structures and systems that are consistent with our core values. They know that our company’s corporate culture has a direct impact on its performance and prosperity.

I am very proud of our people — they are skilled, creative and dedicated. They are committed to achieving the company’s vision, its mission and strategic goals. And while each plays their part, all are in step, working together to move the company forward and in the right direction.

In closing, I would like to remind everyone that we must all strive to enrich our work environment by being supportive and respectful of one another. We need everyone’s active participation to ensure that working at Acadian Seaplants is a positive experience. Thank you.

Louis E. Deveau Chairman and Founder Acadian Seaplants Limited

3

Acadian Seaplants has grown significantly over the years and as it continues to grow, it becomes increasingly important that we emphasize our core values. This is important because every employee needs to know what they can expect from our organization and also what the organization expects from its employees. Our Guiding Principles explain our fundamental beliefs and we hope they will help guide you professionally and personally.

While our existing employees are familiar with our corporate culture and core values, it’s our hope that our new employees will embrace and adopt the Guiding Principles as well. To all of our new employees, I’m happy you have chosen to join Acadian Seaplants. It’s truly amazing that we have team members in so many countries all over the world, working toward the same goals and sharing passion for our products and vision. Welcome!

As an employee of Acadian Seaplants, each of you is the best ambassador our company can have. The genuine pride and enthusiasm that you show for your work is recognized far and wide. The fact that we all share the same future and we all have a direct impact on what that future looks like, bodes well for us and our organization — thank you.

Jean-Paul Deveau President & CEO

Acadian Seaplants Limited

4

We are Responsible Because:

We strive to be at our competitive best for Acadian Seaplants.

• We safeguard Acadian Seaplants’ reputation in all business activities.

• We support fair competition and respect the rights of our customers, suppliers and competitors.

• We keep our skills current and competitive by taking initiative for our own professional development.

• We are accountable for our actions and take responsibility for the results.

• We create a workplace where Acadian Seaplants’ employees can express their opinions and raise questions and concerns in a supportive environment.

• We resolve differences fairly with co-workers, suggesting solutions wherever possible.

• We obtain supervisor/manager approval to use company assets for personal purposes.

• We protect and preserve company assets, including intellectual property, for the benefit of the company and not for personal gain.

• We ensure that Acadian Seaplants’ local suppliers have fair opportunities to compete for our business.

5

We are Dedicated Because:

We are personally committed to making Acadian Seaplants a winner.

• We are committed to providing a healthy and safe work environment for employees and contractors and preventing occupational illness and injury, while recognizing that safety is everyone’s personal responsibility.

• We base our decisions and actions on our ethics and on what is in the best interest of the company, our staff and key stakeholders.

• We commit to setting a good example for customers, suppliers, communities and one another.

• We take personal pride in the company’s success and in what we do.

• We seek to understand, appreciate and encourage our diverse cultural differences and perspectives.

• We listen to our customers and meet or exceed their expectations.

• We set high standards of personal and professional growth and performance.

• We stay committed to achieving company objectives.

6

We are Respectful Because:

We treat others as we expect to be treated.

• We recognize and avoid behaviors that others may find offensive, including the manner in which we speak and relate to one another and the printed and electronic materials we bring into the workplace.

• We recognize that conduct socially and professionally acceptable in one culture and country, may be viewed differently in another.

• We give all Acadian Seaplants employees the same opportunity to have their questions, issues and situations fairly considered while understanding that being treated fairly does not always mean that we will all be treated the same.

• We trust one another to use good judgment in our use of Acadian Seaplants’ business and information systems.

• We exercise fundamental virtues of respect, dignity, kindness, and courtesy in all work relationships.

• We respect the right and obligation of every Acadian Seaplants employee to resolve concerns relating to ethics in the course of our duties without retribution and retaliation.

7

We are Honest Because:

We represent ourselves and our intentions truthfully.

• We respect the rights and property of others, including their intellectual property. We accept confidential or trade secret information only after we clearly understand our obligations as defined in a non-disclosure agreement.

• We exercise sound judgment in the exchange of business courtesies, meals and entertainment by avoiding activities that could create even the appearance that our decisions could be compromised.

• We ensure that no payments or favours are offered to influence others to do something unethical.

• We offer full disclosure and excuse ourselves from discussions and decisions when our business judgment appears to be in conflict with a personal interest.

• We compete fairly in our global markets and respect the trading practices in each while maintaining our high standards of business ethics.

• We maintain records that are accurate and include all payments and receipts.

8

We are Creative Because:

We understand that questioning the status quo stimulates business and personal growth.

• We believe that no one has a monopoly on good ideas.

• We value all Acadian Seaplants employees for their ideas and contributions without regard to their position within the company.

• We work as a team and with trust to achieve innovative and superior results.

• We recruit, train, promote and reward people based on their performance and contribution.

• We maintain a professional work environment that is both gratifying and rewarding.

• We understand that working together successfully may depend upon our willingness to trust someone else to take the lead.

• We give recognition and credit appropriately and frequently.

• We expect open, honest, respectful internal and external communication.

9

We are Leaders Because:

We create new business directions and opportunities.

• We promote a positive workplace environment to make Acadian Seaplants the employer of choice for the most creative and innovative people.

• We encourage and explore new perspectives and ideas through a diverse, talented and experienced workforce.

• We strive to succeed and do so with the highest standard of ethical business practices.

• We take responsible risks, we manage those risks and we learn from our experiences.

• We recognize that success or failure depends on all of us and that we succeed or fail together.

• We exercise sound environmental stewardship in which all people can work safely and live healthy, productive lives, now and in the future.

• We encourage all employees to participate in community activities that promote the common good.

• We recognize that social media is changing the way we work and live, so we are clear about how we use social media and the rules and expectations that apply.

10

No document Acadian Seaplants Limited has published is more important than our Guiding Principles.

Acadian Seaplants will, from time to time, revise its words to properly reflect our constantly evolving company. You are encouraged to contact your supervisor/manager or People & Culture Department with your suggestions.

We all have a responsibility to report to our supervisor/manager or People & Culture Department any circumstances or actions that violate, or appear to violate, the Guiding Principles. Such communication is confidential and employees will not be subject to reprisal for raising a concern or reporting, in good faith, actions they feel may violate the Guiding Principles.

Phone: (902) 468-2840

Fax: (902) 468-3474

Email: info@acadian.ca

www.acadianseaplants.com

30 Brown Avenue

Dartmouth, Nova Scotia

Canada, B3B 1X8 February, 2002

Rev. February, 2007

Rev. October, 2010

Rev. January, 2015

Rev. March 2018

© Acadian Seaplants Limited, 2018