SUPPLIER MANAGEMENT

SOURCING

At Colt, we are committed to conducting all sourcing activities with the highest standards of ethics and fairness. We believe in fostering transparent and equitable relationships with our suppliers. To ensure this, our sourcing strategy includes - at least two quotes being required before making any supplier selection ( including tail Suppliers ) to a full RFP for large strategic initiatives.

This practice not only promotes competitive pricing but also helps us maintain integrity and accountability in our procurement processes. By adhering to these principles, we aim to build a sustainable and trustworthy supply chain that benefits all stakeholders involved.

ONBOARDING

Colt seeks to works with suppliers that align with our values, and we strive to work with our suppliers to provide innovative solutions in a sustainable and ethical way.

All suppliers working with Colt must comply with our policies and requirements and these are defined in our Code of Conduct.

The acceptance of our NDA is mandatory. Depending on the service, every potential supplier will have to complete questionnaires to guarantee that they meet our business needs and expectations.

In 2025, Colt will move the onboarding process into Ariba SLP, enabling a more seamless experience.

MANAGING

Once onboarded, we are regularly reviewing suppliers:

DUE DILIGENCE

• Financial checks are done annually

• VRM (Vendor Risk Management) assessments will be done as part of contract renewal

• Regular reviews of suppliers that manage a high number of personal records, where a yearly Data Protection Audit will be required

CONTRACT REVIEW

• As part of contract renewals, Colt will check and update any new legal amendments that need to be added to the new agreement

REVIEW MEETINGS

• For strategic suppliers Colt performs recurrent business review meetings to assess the overall partner relationship