Givaudan UK Pension Plan Implementation Statement

APPENDIX1IMPLEMENTATIONSTATEMENT (formingpartoftheTrustees'Report) EngagementPolicyImplementationStatement Background (Amendment)Regulations('theRegulations').TheRegulationsamongstotherthingsrequirethattheTrustees ImplementationStatementandcoverstheyearended31March2023. PlanwaswoundupinapriorPlanyear. Introduction GivaudanUKPensionPlan(the'Trustees’and“Plan’respectively)coveringthePlanyearto31March2023. ThepurposeofthisEngagementPolicyImplementationStatementisto: commentonhowthepoliciesintheSIPaboutassetstewardship(includingbothvotingandengagementactivity)inrelationtothePlan'sinvestmentshavebeenfollowedduringtheyear, describethevotingbehaviourby,oronbehalfof,theTrusteesovertheyearincludingtheuseofany AcopyofthisEngagementPolicyImplementationStatementwillbemadeavailableonthefollowingwebsite AdherencetoStewardshippolicies remainingpartsofthisEngagementPolicyImplementationStatementsetoutdetailsofhowthishasbeenachieved.ThesedetailsrelatetothosepartsoftheSIPwhichsetouttheTrustees'policies,andnotthosewhich arestatementsoffact. InFebruary2021,theTrusteespurchasedabulkannuitypolicywithAviva,whichinsuresthemembers liabilities.TheinsurancecontractisanassetofthePlanandthepensionliabilityremainswiththePlan.With theexceptionofcash(orcash-like/liquidity)balances,andadditionalvoluntarycontributions,thisisnowthesole assetofthePlan. TherelevantextractoftheSIPcoveringtheTrustees'votingandengagementpoliciesisasfollows: toalignitsinvestmentstrategyanddecisionswiththeTrustees'policiesinrelationtostewardship,corporategovernanceandresponsibleinvestment. Giventhelong-termnatureofthePlan'ssoleinvestmentandthebulkannuitypolicytheTrusteesbelievethat financialfactorswhichmayinfluenceperformance. APPENDIX1-IMPLEMENTATIONSTATEMENT (formingpartoftheTrustees'Report) EngagementPolicyImplementationStatement(continued) AdherencetoStewardshippolicies(continued) thebeneticiaries,seekingthebestreturnthatisconsistentwithaprudentandappropriatelevelofrisk.The Trusteesbelievethat,inordertofulfilthiscommitmentandtoprotectandenhancethevalueofthePlan'sinvestments,theymustactasresponsiblestewardsoftheinvestments. TheTrusteesacknowledgethatfinanciallymaterialconsiderationsincludeenvironmental,socialandcorporate opportunitiesandfinanciallymaterialrisks. responsibilityandensuringthehigheststandardsofgovernance. stewardship,corporategovermanceandresponsibleinvestment. TheTrustees'soleholdingswithAlILthroughouttheyearto31March2023weresmall,residualcashbalances Trustees. Summary deferreduntilthemember'sretirement.ThisEPISdoesnotdisclosestewardshipinformationonAVCsorinvestmentsincashduetothelimitedmaterialityofstewardshipoftheseassetclasses. 34