INVESTIGATIONS 
Paramount will promptly and thoroughly investigate all allegations of conduct that violates its policies. You may not conduct your own investigation either before or after making a report. Throughout such investigations, Paramount will make reasonable, practical, and consistent efforts to maintain confidentiality in line with our obligations and the need to determine the truth, and the Company will take appropriate corrective action where necessary. You must respond truthfully, fully, and promptly to all inquiries made by Compliance Officers and those assisting them, such as representatives from Internal Audit, Human Resources, Employee Relations, or Compliance support personnel. You must not withhold relevant information or attempt to mislead or misdirect any investigation. Moreover, if you have reason to believe that a breach of this Statement has been committed, or that an investigation by Paramount or any government agency is underway, you must retain all potentially relevant materials (photographs, objects, etc.) and documents (including computer discs, computer tapes, hard drives, audiotapes, emails, voicemails, and digital and audio files). You must also retain any other materials if so instructed, such as by a “document hold” notice. If you have any doubt about the propriety of deleting or destroying materials or documents in this or any other context, you must consult a Compliance Officer in advance. If you have reason to believe that other individuals have unlawfully destroyed or falsified documents or things that might be relevant to an investigation or any other legal matter – or are considering doing so – contact a Compliance Officer immediately. 

DISCIPLINARY ACTIONS 
Where permissible under local law, Paramount may take disciplinary action – including termination of employment or suspension without pay – against any employee or director who authorizes or participates, directly or indirectly, in actions that breach a policy contained in this Statement. 

LEGAL COOPERATION 
We, as Paramount employees, cooperate with the Company in connection with claims and legal matters brought by third parties relating to Paramount’s business. This obligation continues after the termination of employment as to any legal matter relating to Paramount’s business during the time you worked at the Company. The cooperation required includes promptly notifying Paramount’s General Counsel and following his or her lawful instructions if you are informally requested to provide, or if you receive legal process requiring you to provide, information, testimony, or documents (including electronic documents) in any matter that relates, directly or indirectly, to Paramount. If your cooperation is needed after the termination of your employment, Paramount will seek to minimize interruptions to your schedule to the extent consistent with its interests in the matter and will reimburse you for any reasonable and pre-approved out-of-pocket expenses you incur as the result of your cooperation. 

WAIVER & DISCLOSURE
This Statement can be found on Paramount’s public website at https://www.Paramount.com, as well as on the Paramount intranet site and other Company intranet sites, and at http://BCS.Paramount.com. From time to time, Paramount may waive certain provisions of this Statement. Any employee who believes that a waiver may be called for should discuss the matter with his or her Human Resources representative, a Compliance Officer, or a lawyer in his or her business unit’s Legal Department. Members of the Board of Directors should consult Paramount’s Corporate Secretary. Ultimately, any waiver of this Statement for an employee must by granted by a Compliance Officer. Only the Board of Directors or one of its committees may grant a waiver for Paramount’s executive officers or directors, and any such waiver will be disclosed to Paramount’s shareholders as required by law. 

IN CLOSING
Paramount appreciates your hard work and dedication to our Company. You play an essential role in keeping Paramount a responsible member of the corporate community and an ethical and safe place to work. Paramount expects you to observe not only the letter but also the spirit of this Statement. You may not try to accomplish indirectly what the policies prohibit. Furthermore, you may not encourage, participate in, or assist conduct that breaches these policies. Your help, both by complying with this Statement and alerting Paramount to any misconduct, is invaluable to our success.