Givaudan UK Pension Plan Implementation Statement

APPENDIX1IMPLEMENTATION STATEMENT(forming part of the Trustees' Report) Engagement Policy Implementation Statement Background (Amendment) Regulations ('the Regulations'). The Regulations amongst other things require that the TrusteesImplementation Statement and covers the year ended 31 March 2023. Plan was wound up in a prior Plan year. Introduction Givaudan UK Pension Plan (the 'Trustees’ and “Plan’ respectively) covering the Plan year to 31 March 2023.The purpose of this Engagement Policy Implementation Statement is to: comment on how the policies in the SIP about asset stewardship (including both voting and engagementactivity) in relation to the Plan's investments have been followed during the year,describe the voting behaviour by, or on behalf of, the Trustees over the year including the use of any A copy of this Engagement Policy Implementation Statement will be made available on the following website Adherence to Stewardship policies remaining parts of this Engagement Policy Implementation Statement set out details of how this has beenachieved. These details relate to those parts of the SIP which set out the Trustees' policies, and not those whichare statements of fact. In February 2021, the Trustees purchased a bulk annuity policy with Aviva, which insures the membersliabilities. The insurance contract is an asset of the Plan and the pension liability remains with the Plan. Withthe exception of cash (or cash-like/liquidity) balances, and additional voluntary contributions, this is now the soleasset of the Plan. The relevant extract of the SIP covering the Trustees' voting and engagement policies is as follows: to align its investment strategy and decisions with the Trustees' policies in relation to stewardship, corporategovernance and responsible investment. Given the long-term nature of the Plan's sole investment and the bulk annuity policy the Trustees believe thatfinancial factors which may influence performance. GIVAUDANUKPENSIONPLAN APPENDIX1-IMPLEMENTATION STATEMENT(forming part of the Trustees' Report) Engagement Policy Implementation Statement (continued) Adherence to Stewardship policies (continued) the beneticiaries, seeking the best return that is consistent with a prudent and appropriate level of risk. TheTrustees believe that, in order to fulfil this commitment and to protect and enhance the value of the Plan'sinvestments, they must act as responsible stewards of the investments. The Trustees acknowledge that financially material considerations include environmental, social and corporateopportunities and financially material risks. responsibility and ensuring the highest standards of governance. stewardship, corporate govermance and responsible investment. The Trustees' sole holdings with AlIL throughout the year to 31 March 2023 were small, residual cash balancesTrustees. Summary deferred until the member's retirement. This EPIS does not disclose stewardship information on AVCs orinvestments in cash due to the limited materiality of stewardship of these asset class es.