Yahoo’s Code of Ethics
Winning with Integrity

Winning with Integrity
Yahoos,
Yahoo is the place where millions of people go to see what is happening with the people and the things that matter to them most. We must do everything possible to continue to earn and keep their trust. Our conduct must always reflect
Yahoo’s values, demonstrate ethical leadership and uphold
Yahoo’s reputation for integrity.

letter of this Code of Ethics and always maintain the highest standards of integrity when conducting Yahoo business. If you are ever unsure of what to do – please ask!
Yahoo’s Ethics and Compliance Office (ECO) is responsible for overseeing compliance with this Code of Ethics and is available to answer your questions and receive reports of suspected ethics and compliance issues. You may contact the ECO utilizing any of the methods below:

We are committed to the highest standards of business conduct in our relationships with each other, our users, our stockholders and our customers, suppliers and partners.
This Code of Ethics applies to all Yahoos and provides the information necessary to fulfill our obligations to act with integrity and in compliance with the laws and regulations that affect our business.

Phone: 408-349-3059
Email: eco@yahoo-inc.com
IntegrityLine: 1-888-47-Yahoo (1-888-479-2466)
Website: integrityline.yahoo.com

All Yahoos are expected to conduct themselves in accordance with the spirit as well as the

Let’s make sure we continue to Win with Integrity!

1

Contents
4

Our Values

6

Our Code

8

21

Our Company

Our Business Relationships

Seeking Guidance

Insider Trading

Reporting Violations

Business Courtesies

Tools and Resources

Export, Import, and Anti-Boycott Laws

Waivers of the Code

Money Laundering

A Safe and Secure Workplace

Gathering Information About

Conflicts of Interest

Competitors

Accurate Business Communications,

Anticorruption Laws

Records, and Contracts

Q&A

Confidential Information and

33

Our Responsibility

Fair Competition

Respect for Our Fellow Yahoos

External Communications

42

Our Community

Intellectual Property

User Privacy

Copyrights

Protecting the Environment

Use of Yahoo Resources

Political Activities and Contributions

Q&A

Representations Regarding Yahoo’s
Business, Products, Services, and
Competitors
Human Rights
Child Protection
Q&A

2

48

A Message from Yahoo’s
Board of Directors

Our values shape the culture and define the character of our company. They are at the heart of who we are and what we do.

3

Our Values
Excellence:

Teamwork:

••We are committed to winning with integrity.

••We treat one another with respect and communicate openly.

••We know leadership is hard won and should never be taken for granted. ••We foster collaboration while maintaining individual accountability. ••We aspire to flawless execution and don’t take shortcuts on quality.

••We encourage the best ideas to surface from anywhere within the organization.

••We seek the best talent and promote its d
 evelopment.

••We appreciate the value of multiple perspectives and diverse expertise. ••We are flexible and learn from our mistakes.

Community:

Innovation:

••We share an infectious sense of mission to make an impact on society and empower consumers in ways never before possible.

••We thrive on creativity and ingenuity.
••We seek the innovations and ideas that can change the world.

••We are committed to serving both the Internet community and our own communities.

••We anticipate market trends and move quickly to embrace them. Fun:

••We are not afraid to take informed, responsible risk.

••We believe humor is essential to success.

Customer Fixation:

••We applaud irreverence and don’t take ourselves too seriously.

••We respect our customers above all else and never forget that they come to us by choice.

••We celebrate achievement.
••We yodel.

••We share a personal responsibility to maintain our customers’ loyalty and trust.
••We listen and