Compliance with the UK Corporate Governance Code

The principle underlying the UK Corporate Governance Code is “comply or explain”, and the listing rules of the London Stock Exchange place a continuing obligation on listed companies to make a statement in their report and accounts regarding compliance with the Code, and to give reasons for any areas of non-compliance.

The Company has complied with all of the provisions set out in the Code, with the exception of the following:

Provision 24 - the period to June 2022 during which Elaine O’Donnell acted as both chair of the board and as interim chair and a member of the audit and risk committee as detailed on page 30 of our Annual Report 2023.

Provision 19 - the 33 days Elaine O’Donnell served beyond nine years from her date of first appointment as detailed on page 29 of our Annual Report 2023.