Governance Documents
Policy on Ethics and Business Conduct
(As Amended and Adopted by the Board of Directors of NVE Corporation January 23, 2023)

NVE has and will continue to uphold the highest levels of business ethics and personal integrity in all types of transactions and interactions. To this end, this Code of Ethics serves to (1) emphasize the Company's commitment to ethics and compliance with the law; (2) set forth basic standards of ethical and legal behavior; (3) provide reporting mechanisms for known or suspected ethical or legal violations; and (4) help prevent and detect wrongdoing.

The values embodied in the NVE Corporation Code of Ethics are meant to guide the business decisions of our organization. The Code of Ethics tells us that we should strive to be trustworthy, to respect all people, to be responsible to our constituents and publics, fair in our dealings, and caring of the people we affect.

This Code of Ethics will apply to all of our officers, directors, and employees.

NVE Code of Ethics
1. We will always be honest and truthful.

2. We will adhere to the letter and spirit of all applicable governmental laws, rules and regulations.

3. We will not tolerate corruption. Specifically:
   a. We will not tolerate bribery in any form and we will walk away from business if necessary.

   b. We prohibit employees from engaging in any activity that could create a conflict of interest between their personal interests and the interests of the company. Potential conflicts will be reported to to the employee's supervisor, manager, or Human Resources.

   c. Employees are prohibited from accepting or providing any gift, favor, or entertainment of anything more than nominal value from any third party that could be perceived as a conflict of interest.

4. We prohibit illegal insider trading and insider dealings. Such transactions and related procedures are defined in our Insider Trading Policy.

5. Employees are prohibited from legislative or regulatory lobbying on the Company's behalf as such lobbying is defined by jurisdictional governments. We will comply with all applicable rules and laws relating to Procurement Lobbying.

6. We will work to eliminate child labor, human trafficking, and other labor abuses in our supply chain.

7. The Company prohibits antitrust and anti-competitive practices, including but not limited to price-fixing, bid-rigging, market allocation, collusion, tying arrangements, and exclusive dealing or requirements contracts.

8. The financial information we provide will be valid and will contain full, fair, accurate, timely, and understandable disclosures.

9. All public communications will include full, fair, accurate, timely, and understandable disclosure.

10. Potential violations of this Code should be reported to the employee's supervisor, manager, or Human Resources. If necessary, employees may use our Intranet for confidential, anonymous reporting to the Audit Committee of the Board of Directors. We will protect employees who in good faith report violations of this Code or engage in whistle-blowing activities from unfair and undue repercussions and retaliation.

11. This Code applies to all of our officers, directors, and employees.