Global Code of Conduct

Employees may not accept from firms orindividuals doing business, or seeking to dobusiness, with AGCO any kind of special loans orpayments that are not generally available to others.Loans to employees from financial institutions thatdo business with the Company are permissibleonly if the loans are made on prevailing terms andconditions.Conflicts of InterestA “conflict of interest” occurs when anindividual’s private interest interferes in any way – or even appears tointerfere – with the interests of the Company. A conflict situation can arisewhen an employee or a member of his or her family takes actions or hasinterests that may make it difficult to perform his or her Company workobjectively and effectively. Conflicts of interest also arise when an employeeor a member of his or her family receives improper personal benefits asa result of his or her position in the Company. Loans to, or guarantees ofobligations of, such persons are of special concern.AGCO’s policy makes it clear that ethics and behavior are individualresponsibilities and that high standards of behavior are expected of allemployees regardless of rank or position. If a potential conflict of interestsituation arises, you should discuss it promptly with your supervisor as towhether or not a conflict exists and what should be done about it.A conflict or the appearance of a conflict of interest may arise in manyways. For example, depending on the circumstances, the following mayconstitute an improper conflict of interest:• Ownership of or an interest in, either directly or indirectly, a competitoror a business with which the Company has or is contemplating arelationship (such as a supplier, customer, landlord, distributor, licensee/licensor, etc.) such as through family members.• Profiting, or assisting others to profit, from confidential information orbusiness opportunities that are available because of employment by theCompany.• Providing service as an employee, director, officer, partner, agentor consultant of a competitor or a proposed or present supplier orcustomer.