UK Stewardship Code Statement

As a member of a leading asset management group, Schroder & Co. Limited supports the Financial Reporting Council's Stewardship Code (the Code). Although the Code in the main does not apply to Schroder & Co. Limited, as most of the private bank's clients are natural persons or categorised as retail, in respect of the institutional (professional) clients for whom it manages investments Schroder & Co. Limited is committed to the Code with the rest of the Schroders Group in the UK. For further details of the Group's policy and practices in respect of the Code, please refer to the UK Stewardship Code Statement.