Compliance with the UK Corporate Governance Code

The principle underlying the UK Corporate Governance Code is “comply or explain”, and the UK listing rules 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.

During the 52 weeks ended 1 June 2025 the Company complied with all of the provisions set out in the Code with the exception of provision 24. Following Mark Lam’s appointment as chair on 1 November 2024 the audit and risk committee had two non-executive directors until the appointment of Eric Maugein on 3 February 2025.