2022Statement

onModernSlavery

andHumanTrafficking

Championingpotential

Arelationshipbankforadigitalworld

Introduction

Strengtheningouractivity

totacklehumantrafficking

AtNatWestGroupweunderstand

boththedevastatingimpactofmodernslaveryandtheimportanceofactivelyworkingtoeliminateitinallitsforms.Thefollowingstatement,fortheyear

ended2022,outlinestheprogresswe

havemadeaswellastheadditional

activitywewillputinplacein2023to

domore.Wearecommittedtoworkingwithstakeholderstomakefurther

improvementsandhelppeople,

familiesandbusinessestothrive.

(1)ILOConvention’sGlobalEstimatesofModernSlavery:ForcedLabourandForced

Marriage

(/global/topics/forced-labour/publications/

WCMS_854733/lang--en/index.htm).

Despiteongoingeffortsacrosstheglobe,slaveryis

notgoingaway.AccordingtotheInternationalLabourOrganization’s(ILO)reportonGlobalEstimatesof

ModernSlavery,onanygivendaythereareover

27millionpeopleinsituationsofforcedlabour.Thisistheequivalentof3.5peopleforeverythousandpeopleintheworld.Womenandgirlsmakeup11.8millionofthistotalandmorethan3.3millionofallthosein

forcedlabourarechildren(1).

Figuresshowtherewasa2.7millionincreasein

thenumberofpeopleinforcedlabourbetween2016and2021(1).Thesefiguresunderlinethecontinuing

importanceNatWestGroupplacesonaddressing

theissueofmodernslavery.Bystandingstrongand

together,wecanhelpprovidethesupportandsecurityourcustomers,colleagues,economyandsocietyneed.

Asapurpose-ledfinancialinstitutionwith19millioncustomers,NatWestGroupbelievesinoperatingin

anethicalmannerthatactivelypromotesdiversity,

equityandinclusion,supportscustomerswhentheyareattheirmostvulnerableandhasapositiverolewithin

communities.Weknowthat,asalargefinancialservicesinstitution,wehaveanimportantroletoplayinboth

identifyingandtacklingmodernslavery.NatWestGrouprecognisesitsobligationtocomplywithallappropriate

legislation,includingtheUKModernSlaveryAct.In2022,wecontinuedourworktoalignourapproachto

internationallyrecognisedhumanrightsstandardsincludingtheUnitedNationsGuidingPrinciplesonBusinessandHumanRights(UNGPs),butweknowthatthereismorethatwecouldbedoing.

Ouraimistoseektoreviewandaddresshumanrightsrisks,includingmodernslaveryrisks,acrossourvaluechain.Ourapproachtomodernslaveryandhuman

traffickingisevolvingtokeeppacewiththechangingexternalenvironment.In2022,wefocusedouractivity

aroundreviewingandupdatingourpoliciesand

processes,monitoringoursupplychainforrisksof

modernslavery,strengtheningourapproachtohumantraffickingasafinancialcrime,trainingandraising

awarenessof

modernslavery

withcolleaguesacrossNatWestGroupandengagingwithstakeholders.

WewelcomefeedbackfromallstakeholdersonbothourapproachandourModernSlaveryandHuman

TraffickingStatement.Ifyouwouldliketogetintouch,pleasecontactthe

SustainableBankingTeam.

JamesHolian

ManagingDirector,BusinessBanking

&InternationalRetail

Chair,NatWestGroupHumanRightsActionGroup

21June2023

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking

1

1

Contents

1.Context2

2.Executivesummary3

3.Organisationstructure,businessandsupplychain4

4.Ourapproachtoaddressingmodernslaveryandhumantrafficking7

4.1NatWestGroupModernSlaveryWorkingGroup8

5.Policies9

5.1Raisingaconcern

10

6.

Riskassessmentandduediligence

11

6.1Oursupplychain–riskassessmentandduediligence

11

6.2Strengtheningourapproachtomodernslaveryasafinancialcrime

13

6.3AssessingandmanagingriskthroughourEnvironmental,Socialand

EthicalRiskFramework

14

6.4Investments:tacklingmodernslaverybyinvestingresponsibly

16

7.

Trainingandraisingawarenessofmodernslaveryandhumantrafficking

17

8.

Measuringeffectiveness

18

9.

Engagingwithstakeholders

19

10.

Governance

20

Appendix

A.

ListofNatWestGroupplcsubsidiaries(“NatWestGroup”)requiredtohave

aModernSlaveryandHumanTraffickingstatementundertheModern

SlaveryAct2015

21

B.

ListofNatWestGroupplcsubsidiariesthathavepreviouslybeenrequiredto

haveamodernslaveryandhumantraffickingstatementundertheModern

SlaveryAct2015butnolongermeetthecriteria

21

C.

Otherinformationandusefullinks

21

Context

ThisisourseventhModernSlaveryandHumanTraffickingStatement.

Itismadeinaccordancewithsection54oftheUK’sModernSlaveryAct2015(theMSA).ThisstatementappliestoNatWestGroupplcanditssubsidiariesthataresubjecttotheprovisionsoftheMSA.Alistofthosesubsidiariesis

providedintheappendix.

Forthepurposesofthestatement,ourdefinitionofmodernslaveryencompassesslavery,servitudeandforcedor

compulsorylabour,humantrafficking,sexualexploitationandchildlabourinaccordancewithArticle12ofSection54oftheMSA.Thisstatementcoversthefinancialyearended31December2022.

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking2

2

Executivesummary

In2022,wefocusedouractivityaroundthefollowingareas:

1.Reviewingandupdatingourpolicies

andprocesses:

?Wereviewedandupdatedour

HumanRights

PositionStatement

reflectingourapproach

toaligntointernationallyrecognisedprinciples

includingtheUNGPs.

?Wereviewedandupdatedour

SupplierCharter

whichoutlinesourcommitmentsandexpectations

ofsuppliersinrelationtohumanrightsincluding

modernslavery.

?Weconductedan

Environmental,Social

andEthical(ESE)

sectorreviewontheadult

entertainmentsectoraspartofthestandard

reviewcycle,whichwaspublishedinApril2023.

?Welaunched

ourrefreshedvalues

ofbeing

inclusive,curious,robust,sustainableandambitiousfollowingin-depthengagementwithcolleagues,

customers,communitystakeholdersandsuppliers.Thesevaluesnowformanintegralpartofour

culturalidentity.

?Weincluded‘involvementinthefacilitationof

slavery’inthe

SpeakUp

policyasanexample

ofwhatcanbereportedthroughtheSpeakUp

service.Wealsoaddedthistothecontentofthe

GroupPolicyLearningmodule,whichallcolleagues

havetocompleteannually.

?Wereviewedtheeffectivenessofthe

SpeakUp

frameworkthroughanalysisofcolleagueopinionsurveysandfeedbackfromreporters.

2.Assessingoursupplychainforrisksof

modernslavery:

?Wemadesignificantprogressinoursecondyear

ofworkingwithEcoVadistobetterunderstandandmeasurebothourperformanceandtheperformanceofoursuppliersonkeysustainabilitymetrics,

includingthepoliciesandprocessesinplaceto

identifyandtacklemodernslavery.Atpresent,

533ofoursuppliershavecompletedanEcoVadisassessmentandreceivedarating.

?Weheldanawareness-raisingtrainingwebinarforsupplychainmanagers(13thJanuary2022)withSTOPTHETRAFFIKtoprovideabetter

understandingofmodernslavery,howtospotthesignsandreportanysuspicionsorconcerns.

?Wecontinuedtopayoursupplierspromptlyfortheservicestheyprovidetous.Ourstandardpaymenttermsare30days;however,wehavecontinuedtomaintainimmediatepaymentongoodsandservicesonreceipt,whichsupportsoursuppliersduringthecostoflivingcrisis.ThisgoesbeyondourcommitmentundertakenasasignatorytotheGovernment’s

PromptPaymentCode,whichrequirespaymenttobemadein60days.

3.Strengtheningouractivitytotacklehumantraffickingasafinancialcrime:

?Wecontinuedoureffortstocombatfinancialcrimeandthemisuseofourproductsandservicesby

criminals,takingaproactiveapproachtofinancialcrimerisk.

?Wecontinuedtoinvestigatefinancialcrimeand

disseminateintelligencetorelevantareasofthe

bankandexternallytoenablethebetterdetectionanddisruptionoffinancialcrime.

?Wecontinuedtoraiseawarenessofmodernslaveryandhumantraffickingacrossthebanktoenable

employeestoidentifyandraiseconcernsaroundmodernslavery.

?OurThreatMitigationUnit(TMU)continueditsworkwithdataandanalyticscolleaguesandexternal

stakeholderstoenhanceourabilitytodetectactivityindicativeofmodernslaveryandhumantraffickingthroughproactivedetection.

4.Trainingandraisingawarenessof

modernslaverywithcolleaguesacrossNatWestGroup:

?Weheldagroup-widewebinarwithcharitable

organisation

STOPTHETRAFFIK

whichhighlightedtherealitiesofmodernslavery,theimpacton

victims,andexaminedtherolethatthefinancialservicessectorcanplayintacklingtheissue.

?WeworkedwithUnseentoreviewandupdate

ourgroup-widee-learningmodule.Themodule

highlightsredflagindicatorsthatcolleaguescanusetorecognisepossiblesignsofmodernslaveryand

providesinformationonhowtoreportanyconcerns.

5.Engagingwithstakeholders

?Wecontinuedourengagementwithstakeholdersincluding

Unseen,

STOPTHETRAFFIKandTRIBEFreedomFoundationin2022,whichhelpedustogrowourunderstandingofmodernslaveryand

changesintheexternalenvironmentinorderto

makeprogresstowardsthedeliveryofSustainableDevelopmentGoal8.7(1).

?WecontinuedourmembershipofTheThunGroup,theUNGlobalCompact’sModernSlaveryWorkingGroupandJointMoneyLaunderingIntelligence

Taskforce(JMLIT).

(1)TheSustainableDevelopmentGoals(SDGs)areacollectionof17non-legallybindinginterlinkedglobalgoalssetforthbytheUNforcountriesandgovernments.Theseareincluded

onlyasindicativeguidancefortheproposedaimofeachareaoffocusandNatWestGroupmakesnorepresentation,warrantyorassuranceofanykind,expressorimplied,or

takesnoresponsibilityorliabilityastowhethertheareasoffocusfurthertheobjectiveorachievethepurposeoftheindicatedSDG.SustainableDevelopmentGoal8Target7isto

takeimmediateandeffectivemeasurestoeradicateforcedlabour,endmodernslaveryandhumantraffickingandsecuretheprohibitionandeliminationoftheworstformsofchild

labour,includingrecruitmentanduseofchildsoldiers,andby2025endchildlabourinallitsforms.

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking3

Ring-fence

NatwestHoldingsLimited

(England)

TheRoyalBank

ofScotlandInternational

(Holdings)Limited

(Jersey)

Natwest

MarketsPlc(Scotland)

RBSAAHoldings

(UK)Limited

(England)

TheRoyalBank

ofScotlandplc

(Scotland)

UlsterBankIreland

DAC

(RepublicofIreland)

NatWestMarkets

GroupHoldings

Corporation

(Delaware)

RBSHoldings

USAInc.

(Delaware)

NatWestMarkets

SecuritiesInc.

(Delaware)

National

Westminster

BankPlc

(England)

LombardNorthCentralplc(England)

RBSInvoiceFinance

Limited

(England)

NatWestMarkets

SecuritiesJapan

Limited

(HongKong)

RBSHoldingsN.V.

(NL)

“Non-Bank”KeyEntity“Bank”KeyEntity

NatWestMarketsN.V.

(NL)

3Organisationstructure,business

andsupplychain

AboutNatWestGroup

OurparentcompanyisNatWestGroupplc

(NatWestGroup),whichisregisteredinEdinburgh,butwehavesubsidiariesinvariousjurisdictions.

Weoperatethroughavarietyofbrandswhich

offerpersonalandbusinessbanking,private

banking,investmentbankingandcorporate

finance.Ourmainsubsidiarycompaniesare

NationalWestminsterBank,RoyalBankof

Scotland,NatWestMarkets,Coutts&Company

andRoyalBankofScotlandInternational.Furtherdetailsonallofoursubsidiariesandthecountriesinwhichtheyareincorporatedcanbefoundinour

AnnualReportandAccounts.

(1)Structuralhierarchyhasbeensimplifiedtoassistunderstanding.

Ourcompanylegalstructure(1)

Insidethering-fence

NatwestGroupplc

(Scotland)

Outsidethering-fence

TheRoyalBankofScotland

InternationalLimited

(Jersey)

Coutts&Company

(England)

Key

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking4

Organisationstructure,businessandsupplychaincontinued

2022Permanentemployeelocations

1,800900

1,500

15,700

41,200

300

Poland

RepublicofIreland

RestofWorld

USA

India

UK

Ourcolleagues

Attheendof2022,weemployed61,400(1)permanent

employeesglobally.Inaddition,theaveragenumberof

temporarycolleaguesemployedduring2022was2,500(2).

Regardingtherecruitmentoftemporaryworkers,weonlyuseasmallnumberofpre-approvedrecruitmentagencies.Allagenciesarecontractuallyrequiredto

completepre-employmentscreening(PES)ontheirworkersinlinewithNatWestGrouprequirements.

TheNatWestGroupPESpolicyseekstolimittherisk

offorcedandcompulsorylabourinourworkforceby

ensuringthatallnewlyhiredemployees,non-employees(contingentworkers)andthird-partysupplierworkers

completebackgroundvettingchecksbeforetheycanjoinus.Theseinclude(withoutlimitationandtotheextent

legallypermissible)identity,righttowork,activity,

address,credit,criminal,educationandfraudchecks.

PESenablesustoverifythecandidateiswhotheysaytheyare,checktheirconductandtesttheirintegritythroughadeclarationofadverseinformationand

evidence.ThisisinaccordancewithNatWestGroupvalues,confirmingtherearenolegalorregulatory

barrierstoemployingthem.Whencolleaguesjoinus,weaimtoprovideplentyofsupport,educationandtrainingforbusinessandregulatorypurposes.We

expectcolleaguestobehaveethicallyatworkandoperateinlinewithOurCodeandvalues.Their

failuretodosocanresultindisciplinaryaction.

Regularinteractionswithouremployeerepresentativessuchastradeunions,electedemployeebodiesand

workscouncilsareavitalmeansoftransparencyand

engagementforus.Wefrequentlyusethesesessions

todiscussdevelopmentsandupdatesontheprogressofourstrategicpriorities.Weaimtorespectouremployees’rightoffreedomofassociationacrossallourbusiness

andweshareinformationaboutouremployee

representativebodieswithourcolleaguesonour

intranet.Approximately73%ofouremployeesarecoveredbyacollectiveagreementand/oremployeerepresentativearrangements.

Pay

OurFairPayCharter

setsoutNatWestGroup’s

commitmenttopayallcolleaguesfairly,competitively

andtransparently,andourrewardpolicyisupdated

accordingtothecurrentandfutureneedsofthe

business.IntheUK,ratesofpaycontinuetoexceedtheUKLivingWageFoundationbenchmarks.ForourmajorhubsoutsidetheUK,wecontinuetopayabovethe

minimumandlivingwageratesintheRepublicofIreland,aswellasexceedingtheminimumwagebenchmarksinIndiaandPoland.WhenthenewUKreallivingwage

rateswereannouncedinSeptember2022,we

immediatelyincreasedpayforouremployeesandrelevantsuppliersaheadoftheMay2023deadline.

(1)NatWestGroupheadcountforbothcontinuinganddiscontinuedoperationsat31stDecember2022,basedonglobaldataforactivepermanentcolleagues(includingFTCandexcludingtemps).

(2)OurAnnualReportandAccounts(2022)p.316providesfurtherdetailoncolleaguenumbers.

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking5

In2022:

?ourrefreshedCAPmetwithrepresentatives

fromtheBoardtwicetodiscussissuesincludingremuneration(forexecutivesandthewider

workforce),ourvalues,futureskillsandtheworkbeingdoneonsupportingcustomersinvulnerablesituations.

In2023,wewillaimto:

?achieveaGlobalLivingWageaccreditation.

Organisationstructure,businessandsupplychaincontinued

01.

Simplicity

02.

Consistency

09.

Competitive

OurFairPayCharter

04.

Transparency

07.

Reliability

06.

Clarity

03.

Flexibility

05.

Listening

10.

Security

08.

Inclusive

(1)NatWestGroupOurViewresultsexcludeUlsterBankRoI

ColleagueAdvisoryPanel

WeestablishedaColleagueAdvisoryPanel(CAP)in

2018,throughwhichourcolleaguescanengagedirectlywithseniormanagementandtheBoardontopicsthat

areimportanttothem,therebystrengtheningthevoiceofcolleaguesintheboardroom.In2022,itsapproach

wasreviewedandrefreshedtopromoteevenricher

engagementwiththeBoardandtoincreaseopportunitiestoexchangeviews.WehaveappointedanewCAP

chairandrefreshedthepanelof28colleagueswhoareself-nominatedorpartofanemployeerepresentativebody.Wedesignedourselectionprocesstoensure

membershipisrepresentativeofthebank’spopulatione.g.businessarea,organisationlevel,location,workingpatternandemployee-lednetworks.Thereafter,the

representativesforeachareaareselectedatrandomtoensurethateveryonehasachancetoparticipateandtominimisetheriskofbiasintheprocess.

Colleagueopinionsurvey

Ourcolleagueopinionsurvey,OurView,compares

responsestoquestionsfromcolleaguesatNatWest

Groupagainstthepositioninothercompanies,known

astheGlobalFinancialServicesNorm(GFSN).Over

48,000colleagues(82%)acrossallcountriesandlevelsparticipatedinourSeptember2022OurViewsurvey(1).At82%,thisresponserateisoneofthehighestseen

inthelast10years.Inthefaceofanunprecedented

externalenvironment,ourresultsremainstrongand

showoverallresilience.However,leadmeasuresin

culture,wellbeingandpurposefellmarginally,while

ourinclusionmeasureremainedstableand,despitethechallengingbackdrop,ourmeasureonbuildingcapabilityimproved.Acrossallcomparablecategories,NatWest

GroupsitsanaverageofsixpercentagepointsabovetheGFSNandtwopercentagepointsabovetheGlobalHighPerformanceNorm(GHPN).

Oursupplychain

Tosupportouroperations,NatWestGrouppurchases

goodsandservicesfromsuppliers.Themajority(61%)ofourEcoVadisassessedsuppliershavearegisteredheadofficeeitherintheUKortheRepublicofIreland.Thisisrepresentativeofourdirectsupplychainonly.

Governance

During2022,theSustainableBankingCommitteeand

theBoardconsideredsocialmattersviamanagement

reportsonmodernslavery,humanrightsactivityand

decarbonisationofthesupplychain.TheBoardapprovedNatWestGroup’sHumanRightsPositionStatementandModernSlaveryandHumanTraffickingStatement.

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking6

4Ourapproachtoaddressingmodernslaveryandhumantrafficking

Ourapproachtotacklingmodernslaveryandhumantraffickingsitswithinthe

widerhumanrightscontext.WerecognisetheimportantrolethatbusinessesplayinpromotingrespectforhumanrightsandseektooperateinaccordancewitharangeofinternationallyacceptedstandardsincludingtheInternationalBillof

Rights,whichincludestheUniversalDeclarationonHumanRights.In2022,we

continuedourlong-term,ongoingworktoalignourpoliciesandpracticestoboththeUNGPsandtheOECDGuidelinesforMultinationalEnterprisesalthoughweknowwehavemoretodo.

Werecognisetheimportanceofacollaborativeapproachtoaddressingmodernslavery.In2022,weengagedregularlywithexpertgroupsandcharitiestohelpusbetterunderstandtheexternalenvironmentandtohelpusimprovepoliciesandprocessestoidentifyandmitigatemodernslaveryrisk.

AsafoundingsignatoryoftheUNPrinciplesforResponsibleBanking,ourambitionistoalignourstrategywiththe2015ParisAgreementandtheUNSustainableDevelopmentGoals(SDGs)(1).Ourworkonmodernslaveryandhuman

traffickingstrivestomakeapositiveimpacton:

(1)TheSustainableDevelopmentGoals(SDGs)areacollectionof17non-legallybindinginterlinkedglobalgoalssetforthbytheUNforcountriesandgovernments.References

throughoutthisstatementtotheaboveSDGsareindicativeguidanceforNatWestGroup’sambitiontoalignitsstrategywiththeUNSustainableDevelopmentGoalsandNatWestGroupmakesnorepresentation,warrantyorassuranceofanykind,expressorimplied,ortakesnoresponsibilityorliabilityastowhetherNatWestGroup’sstrategyfurtherstheobjectiveorachievesthepurposeoftheindicatedSDG.

Addressingglobalissues

throughpracticallocalaction–

NWGmembershipoftheUNGlobalCompactNetworkUKModern

SlaveryWorkingGroup

Sincejoiningtheworkinggroupin2020,NatWestGrouphasexploredmodernslaveryissues,sharingchallengesandbestpracticewithUKnetworkmembers.Theworkinggroupheardfrommodernslaveryissuesexperts,

includingIndependentAnti-SlaveryCommissionerDameSaraThornton,ChloeCranstonfromAnti-SlaveryInternational,JustineCurrellfromUnseen,NeilGilesfromSTOPTHETRAFFIK,andShellyHanfromFair

LaborAssociationtosupporttheimplementationoftheModernSlaveryActprovisions.

In2022,NatWestGroupalsotookpartintheModernSlaveryActStatementPeerReviewProgramme,asafe

spacewherebusinessescandiscussthechallengesofproducingaModernSlaveryActStatementandexchangeconstructivecriticism.

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking7

ExecutiveCommittee

In2022,we:

In2023,wewill:

?continuedtomonitortheexternalenvironment,workingwithNon-GovernmentalOrganisations(NGOs)andcharitiesandutilisingtheirinsightandguidancetostrengthenourapproachto

identifyingandtacklingmodernslavery.

?continuetoworkwithUnseentobetter

understandthemodernslaveryrisksand

issuesrelatedtoourownoperationsand

businessrelationships.WeintendtojointheUnseenBusinessHubcommunity,whichwillprovideuswithexpertwebinarsandupdates,practicalresourcesandaccesstohelpline

trendsandanalysisonhigh-risksectors.

?refreshandrenamethe‘HumanRightsSteeringGroup’tothe‘HumanRightsActionGroup’,withtheaimofacceleratingprogressagainstpriorityactionstodevelopourapproachtohuman

rightsacrosstheNatWestGroup.

Ourapproachtoaddressingmodernslaveryandhumantraffickingcontinued

4.1

NatWestGroupModernSlaveryWorkingGroup

WehaveestablishedaModernSlaveryWorkingGroupwhichisresponsiblefordevelopingandembeddingourgoaltotacklemodernslaveryintorelevantpoliciesandstatements.TheworkinggroupreportstoourHumanRightsSteeringGroup(HRSG)andthechairpersonoftheHRSGhasoversightofallNatWestGroup’spoliciesrelatedtomodernslaveryandhasultimateresponsibilityfortheexecutionofalltheanti-slaveryinitiativesacrossNatWestGroup.

Workinggroupmembersalsotakepartininformaldiscussionswithotherorganisationsandstakeholders,includingattendingworkshopsandwebinarstoenhancetheirknowledgeoftheissue,sharebestpracticeandensurethatourapproachcontinuestoevolve.

BelowisanillustrationofthegroupsinvolvedinthemanagementandgovernanceofModernSlaverywithinNatWestGroup:

NatWestGroupBoard

SustainableBankingCommittee

HumanRightsSteeringGroup

NatWestGroupModernSlaveryWorkingGroupmembership

?SustainableBanking(Chair)

?SupplyChainServices

?CustomerFranchises

?HumanResources

?Legal

?Risk

?FinancialCrime

?ReputationalRisk

?ComplianceandConduct

NatWestGroupplc|2022StatementonModernSlaveryandHumanTrafficking8

In2022,we:

?reviewedandupdatedourHumanRights

PositionStatementreflectingourapproach

toaligntointernationallyrecognisedprinciplesincludingtheUNGPs.

?launchedourrefreshedvaluesofbeinginclusive,curious,robust,sustainableandambitiousfollowingin-depthengagementwithcolleagues,customers,communitystakeholdersandsuppliers.

In2023,wewillaimto:

?reviewourpolicyframework,updatingrelevantpoliciesasrequired.

5Policies

NatWestGrouphasapolicyframeworkwhichseekstoprohibitinstancesofmodernslaveryandhumantrafficking,including:

?OurCode,TheNatWestGroupCodeofConduct,

setsoutourpurposeandthevaluesandbehavioursthatweexpectfromeachother.Itunderpinsallouractionsandinteractions–withinthebankandinourexternalrelationships–anddefinestheprinciplesformakingresponsibledecisions,aswellasthevaluesbehindourpurposeandculture.

?Our

YesCheck

isakeytoolinhelpingguideourthinkinganddecision-making.YesCheckincludesquestionstohelpusconsidertheperspectivesofdifferentstakeholdersandthepotentialimpact

wecouldhave,beforemakingthebestdecision.

?Our

CriticalPeopleCapability

behavioural

frameworksetsoutthebehaviouralexpectationsofallcolleaguesacrossNatWestGroup.TheframeworkisreviewedandapprovedbyTheClearCompanyfromadiversityandfairnessperspectivewhoawardeditaSilverStandardforinclusivity.

?Our

FairPayCharter

supportsourcommitmenttopaycompetitivelyandtransparently,helpingourcolleaguesperformattheirbesteveryday.

?Our

HumanRightsPositionStatement

articulatesouraimtopromoteandrespecthumanrightswithinourownoperations,throughoursupplychain,withourcustomers,andwithanyinteractionsthatwe

havewithlocalcommunities.

?Our

financialcrimepolicies,procedures,internal

systemsandcontrols

enablethebanktoidentify,manageandmitigatefinancialcrimerisk.

?Our

Environmental,SocialandEthicalRisk

ManagementFramework

comprisesofriskappetitesandprocessestogiveusbetterinsightintoournon-personalcustomers’activitiesandaddressissuesof

concerntominimiseriskstothebankandmanagestakeholderexpectations.

?Our

SupplierCharter

clearlystatesthatweexpectoursupplierstocomplywiththeMSA.Italsosetsoutwiderexpectationsinregardtohumanrightsand,

importantly,outlinesourowncommitments.

?The

ResponsibleInvestingPolicy

an