Ethics and Compliance

At WarnerMedia, we are committed to fostering a business environment where fair, honest and respectful dealings with each other, our customers, competitors, suppliers, government agencies and communities are everyone's responsibility. Our unwavering commitment to high ethical standards of business conduct is a core value that is strongly supported at every level of management.

Standards of Business Conduct

The company's Standards of Business Conduct reflects our commitment to maintaining the highest level of integrity and ethics in the way we operate our businesses.  The Standards of Business Conduct applies to all corporate employees of WarnerMedia, and serves as a model for similar codes of conduct that have been adopted at each of the company's businesses. Offices outside the United States also have adopted similar standards of business conduct with modifications as appropriate in light of local laws and rules. Our Standards of Business Conduct stress the importance of abiding by the law, being truthful and transparent in our business dealings, putting the needs of our shareholders and customers first, and avoiding excesses and ethical lapses. More detailed policies on various ethics and compliance topics, such as anti-corruption, provide additional guidance to company employees.

Non-retaliation

We encourage employees to report any concerns about conduct or incidents that may run counter to our values, and we have a strict policy prohibiting retaliation for concerns raised or reported in good faith.

Accountability and Enforcement

Enforcement is also key to an effective ethics policy. A Corporate Compliance Review Committee meets regularly to review individual compliance matters for the entire company. The Audit and Finance Committee of the Board is responsible for reviewing and recommending changes to the Standards of Business Conduct for approval by the Board and for overseeing the company's ethics and compliance program. The Audit and Finance Committee also approves the appointment of the company's Chief Ethics and Compliance Officer, who provides the Committee with regular reports on the company's ethics and compliance program.

System of Internal Control over Financial Reporting and Disclosure Controls and Procedures

We also devote substantial resources to our system of internal control over financial reporting and disclosure controls and procedures. Internal control over financial reporting is the process the company has in place to provide reasonable assurance of our ability to record, process, summarize and report financial data. The disclosure controls and procedures are designed to ensure that information required to be disclosed by WarnerMedia in reports filed or submitted by the company under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time period specified in the Securities and Exchange Commission's rules and forms. Information that is required to be disclosed by WarnerMedia is accumulated and communicated to the company's management to allow for timely decisions regarding disclosures. As part of this effort, specialized training is provided to financial executives and lawyers at the company on these standards to promote consistent compliance with these comprehensive internal controls and procedures.