Response from Matt Harris

Response from Matt Harris – Received May 4thSubject: RE: 2023 Company Decision – Zero Discretionary Increase to UK Pensioners

Hello Alan,

Thank you for your recent email concerning the decision not to award a discretionary increase this year.

I was made aware by Marc Waters of this matter and he had shared with me your presentation when I took over his responsibilities.

As previously communicated (most recently in Marc’s reply to you dated 04 August 2022) and to reiterate, the Company is aware of the situation regarding the Plan’s pensioner population who receive ‘pre ‘97’ pension benefits. The Company takes this into account when carrying out its annual reviews. The Company also continues to consider the most appropriate way of it being engaged in respect of this subject is for the Company to engage with the Trustees of the Plan; the Trustees representing all Plan members, including those that you represent. 

The company position therefore remains as has been previously communicated to you.

Regards