The Code of Business Conduct contains principles that have long been part of TI's values and ethics statements. Certain behaviors have been specifically included in this Code of Business Conduct in recognition of the growing interest that investors have in the conduct of publicly-held companies, their employees and their directors. The public has every right to know what TI standards are in these areas. Furthermore, the public legitimately expects TIers to know and adhere to the standards of conduct. This Code of Business Conduct is intended to comply with New York Stock Exchange listing standards. Employees should refer to the section entitled Compliance Procedures, Policies and Rules for guidance on complying with this Code of Business Conduct. No provision of this Code of Business Conduct may be waived for any director or executive officer without approval of the TI Board of Directors and appropriate public disclosure.

• We do not take any role in any outside concern that would adversely influence our TI responsibilities. When faced with a potential conflict, we communicate with supervisors and others to implement safeguards and take steps to prevent such a conflict from materializing. We make full disclosure and withdraw ourselves from discussions and decisions when our personal interest appears to interfere with TI’s business interests.
  
• When exchanging business courtesies, meals and entertainment, we avoid activities that could create even the appearance that our decisions could be compromised.
  
• We respect the rights and property of others, including their intellectual property, and only accept their confidential or trade secret information after we clearly understand our obligations as defined in a non-disclosure agreement or similar document. We protect and preserve TI assets, including TI business opportunities and intellectual property, for TI’s benefit and not for our personal benefit.
  
• We compete fairly without collusion or collaboration with competitors to divide markets, fix prices, restrict production or allocate customers.
  
• We assure that those who seek to do business with TI have fair opportunities to compete for our business.
  
• We provide full and accurate information for use in internal and external reports.
  
• We keep records that are verifiably accurate.
  
• We use company assets for personal purposes strictly on an infrequent basis with negligible expense to TI.
  
• We recruit, train, promote and reward people based on their performance and contribution.
  
• We respect all TIers without regard to their position or level within the organization.
  
• We follow the Code of Business Conduct and respect the codes of conduct and rules of business of countries where we do business and abide by their laws.
  
• We comply with laws, rules and regulations and actively promote awareness, understanding of and compliance with all applicable laws.
  
• We promote awareness of laws against improper insider trading and do not tolerate it.
  
• We offer no payments or favors to influence others to do something wrong.
  
• We value open and fair competition and respect the rights of our customers, suppliers and competitors just as we expect our rights to be respected.
  
• We actively encourage every TI employee, officer and director to recognize and report any concern about possible illegal or unethical behavior, and we ensure that such reports made in good faith will be acted upon responsibly and without retaliation.
  
• We create a workplace where we feel free to express our opinions and to raise questions and concerns in a safe and supportive environment, without fear of harassment, retribution or retaliation by peers or managers.