Engagement Brief: Gender Pay Gap

Professional investors only.

The report has been co-authored by the investment team at J O Hambro Capital Management Limited (“JOHCML”), which is authorised and regulated by the Financial Conduct Authority and is registered as an investment adviser with the SEC. Registered office: Level 3, 1 St James’s Market, London SW1Y 4AH. Issued in the European Union by Perpetual Investment Services Europe Limited (“PISEL”) which is authorised by the Central Bank of Ireland. Registered office: 24 Fitzwilliam Place, Dublin 2, Ireland D02 T296. Issued in the United States by JOHCM (USA) Inc. (“JOHCMU”).  References to “JOHCM” below are to either JOHCML or PISEL as the context requires. Perpetual Group is a trading name of JOHCML and PISEL.

“Regnan” is a specialist sustainable and impact investing brand of the Australian asset manager Perpetual Limited (“Perpetual”), which encompasses J O Hambro Capital Management, Thompson, Siegel & Walmsley, Pendal Australia, Barrow Hanley Global Investors, and Trillium Asset Management. “Regnan” is a registered trademark of Pendal Group Limited. The Regnan business consists of two distinct business lines. The investment management business is based in the United Kingdom and sits within J O Hambro Capital Management Limited. “Regnan” is a trading name of J O Hambro Capital Management Limited. Alongside the investment team is the Regnan Insight and Advisory Centre of Pendal Institutional Limited in Australia (“Pendal”), which has a long history of providing engagement and advisory services on environmental, social and governance issues.

This document has been selectively distributed to you. This report is for general informational purposes only and has been prepared by Pendal and JOHCML exclusively for Professional investors. It is given on the understanding that it is not a recommendation, it has not been prepared for retail investors and is not to be published or otherwise made available to any person other than the party to whom it is provided.

This report has been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, recipients should, before acting on this information, consider its appropriateness having regard to their individual objectives, financial situation and needs and, if necessary, seek professional advice.

This information is not to be regarded as a securities recommendation. While all reasonable care has been taken to ensure that the information in this report is complete and correct, to the maximum extent permitted by law neither Pendal nor any company in the Pendal Group including JOHCML accepts any responsibility or liability for the accuracy or completeness of the information in the report (but so that nothing in this paragraph shall exclude liability for any representation or warranty made fraudulently).

The distribution of this document in certain jurisdictions may be restricted by law (“Restricted Jurisdictions”).  This document is not intended for distribution in any Restricted Jurisdiction and should not be passed on or copied to any person in such a jurisdiction. No person in any Restricted Jurisdiction should rely on this document and persons into whose possession this document comes who are in a Restricted Jurisdiction should inform themselves about and observe any such restrictions.  Any such distribution could result in a violation of the law of such jurisdictions.