Annual survey of our portfolio companies

We ask our portfolio companies to answer various ESGrelated questions to consider the aggregate performance of our portfolio and identify areas for improvement. The results from this year’s survey are presented below.

29 /30

companies of our existing portfolio were surveyed and every one provided a response

companies were subjected to ESGrelated litigation in the last year

companies declared a material ESG risk, with COVID-19 being the predominant theme

ZERO ONLY f0ur

AREA FOR IMPROVEMENT

11 companies (38%) had an ESG policy, tracked ESG matters internally or had appointed someone to be responsible for ESG matters

ENVIRONMENTAL 14 /19

companies offered or supported sustainable commuting options

AREA FOR IMPROVEMENT

Five companies either had an environmental policy or could provide an estimate of CO2 footprint

INITIATIVES ARISING FROM THE ANNUAL SURVEY

Further to the annual survey of our portfolio companies we have embarked upon several initiatives, as set out below, to help address the areas for improvement. 1. We have hosted an ESG Workshop for our portfolio companies to: − raise awareness of ESG and explain why it is important; − showcase what some of our portfolio companies are doing to incorporate the consideration of ESG in their operations; and − outline our expectations in relation to ESG and offer practical support for implementing certain ESG policies. 2. We are developing a manual to guide our early-stage businesses in the identification, management and monitoring of the ESG risks in their operations and also in the articulation, measurement and reporting of the positive impacts that are generated by their activities. 3. We have become a signatory of the Investing in Women

Code, a commitment by financial services firms to improve female entrepreneurs’ access to tools, resources and finance.

ANNUAL SURVEY OF OUR PORTFOLIO COMPANIES

SOCIAL 1,872

employees across the portfolio

65% of employees participate in a company option or profit share scheme 37%

of employees had training in the last year

ONLY f0ur

companies reported health and safety incidents, all of which were minor and/or now resolved

AREAS FOR IMPROVEMENT

33% of full-time equivalent employees and 21% of the senior leadership team identify as female Four companies (out of 22 responses) required gender and ethnic diversity on all recruitment shortlists

GOVERNANCE 1

/3 board members are independent and each company has, on average, eight board meetings each year

45% of companies have a code of ethics or code of conduct 52% of companies have mechanisms in place to measure customer or other stakeholder satisfaction

ONLY three

companies (of 25 responses) reported a data/cybersecurity incident in the last year, all of which resulted from minor phishing attempts or employee errors

AREA FOR IMPROVEMENT

More companies need to have a diversity target for board composition