{"url_path":"/sec/forty/10-k/2026/item-16b","section_key":"item-16b","section_title":"Item 16B CODE OF ETHICS**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/1045986/0001213900-26-055948-index.html","accession_number":"0001213900-26-055948","cik":"0001045986","ticker":"FORTY","issuer_name":"FORMULA SYSTEMS (1985) LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1045986/0001213900-26-055948-index.html","primary_entity_key":"0001045986","primary_entity_name":"FORMULA SYSTEMS (1985) LTD"},"word_count":403,"has_tables":true,"body_markdown":"**ITEM 16B. CODE OF ETHICS**\n\n \n\nWe have adopted a code of\nbusiness conduct and ethics, or code of ethics, applicable to Formula’s Chief Executive Officer and Chief Financial Officer (who\nalso serves as its principal accounting officer) and any person performing similar functions, as well as to its directors and other employees.\nA copy of the code of ethics is available to all of Formula’s employees, investors and others without charge, upon request to the\nfollowing address: Formula Systems (1985) Ltd., 1 Yahadut Canada St., Or Yehuda 6037501, Israel, Attn: Chief Executive Officer.\n\n \n\n174\n\n \n\n \n\nThe chairman of our audit\ncommittee may approve a request by our Chief Executive Officer, Chief Financial Officer (who also serves as our principal accounting officer)\nor any person performing similar functions for a waiver from the requirements of our code of ethics pertaining to (i) honest and ethical\nconduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationship; (ii)\nfull, fair, accurate, timely and understandable disclosure in reports and documents that we must file with, or submit to, the SEC and\nin other public communications made by us; (iii) compliance with applicable governmental laws, rules and regulations; (iv) the prompt\ninternal reporting of violation of the code of ethics to the chairman of our audit committee; and (v) accountability for adherence to\nthe code of ethics; provided in each case that the person requesting such waiver provides to our audit committee a full disclosure of\nthe particular circumstances relating to such request. The chairman of our audit committee will first determine whether a waiver of the\nrelevant requirements of the code of ethics is required and, if such waiver is required, whether a waiver will be granted. The person\nrequesting such waiver may be required to agree to certain conditions before a waiver or a continuing waiver is granted.\n\n \n\nAny amendments to the code\nof ethics and all waivers from compliance with the code of ethics granted to our Chief Executive Officer, Chief Financial Officer (who\nalso serves as our principal accounting officer) or any person performing similar functions with respect to its requirements described\nin the above paragraph will be publicly disclosed by us via a report of foreign private issuer on Form 6-K in accordance with the regulations\nof the SEC. No such amendment was adopted, nor waiver provided, by us during the fiscal year ended December 31, 2025."}