This statement fulfils the requirements pursuant to section 414CZA of the Companies Act 2006 and explains how the Directors have had regard during the year to the following matters as set out in Section 172 of the Act:

• Long-term results

• Our workforce

• Our business relationships

• The community and our environment

• Our reputation

• Fairness between our stakeholders

The Statement describes how the Directors have fulfilled their responsibilities and duties by incorporating information from other areas of the Strategic Report in the Financial Statements to avoid unnecessary duplication. The Directors consider that the statement focuses on those risks and opportunities that were of strategic importance to Gard (UK) Limited consistent with the size and complexity of the Company.

The Directors have given due regard to a range of matters in the performance of their duty to promote the success of the Company and these include listening to and considering the views of clients, brokers, employees and the Company's other key stakeholders.

Through this process, the Directors ensure that they understand the potential impacts of their decisions on the various stakeholders, the environment and the communities in which the Company operates. Engagement with the Company’s main stakeholder groups, including our clients, brokers, suppliers and employees, at all levels of the organisation and across the business are summarised in the Gard Group Annual Report.

Gard (UK) Limited operates within the Gard Group governance architecture and follows its procedures to ensure that all relevant matters are considered by the Directors properly and in full, prior to decision-making, in order to comply with the Directors’ corporate duties. In doing so, the Directors ensure the long-term success of the company and contribute to the successful and sustainable outcomes for the Gard Group. The below summaries those matters which the stakeholders, directors and the board consider relevant for the disclosure in complying with Section 172 (1) (a) to (f) of the Act set out in more detail, given the importance to Gard (UK) Limited.

(A) Long-term results for Gard (UK) Limited The Directors have given due consideration to the likely consequences of their decisions in the long term and have reached their decisions in good faith, with a view to promoting the continued and sustainable success of the Company’s business. Steady growth in various teams has continued and is in response to increased workloads and projected business development.

(B) Our workforce The Directors, together with the Company’s leadership team, continue to actively engage with employees in order to develop and embed positive Company culture and create an enhanced working environment. To support existing Equality Diversity and Inclusion initiatives and the Gard Group’s Code of Ethics and Business Conduct, the Directors have recently approved a new anti-sexual harassment policy and training is being delivered to all employees in respect thereof.

Our Remote Working Policy (RWP) which was implemented post-Covid to allow for a phased return of employees to the office is reviewed periodically in consultation with the Company’s team leaders and employees with the aim to achieve a balance between employee preferences and the needs of the Company as a whole in particular in promoting company culture and to maximise on the job learning and development, whilst still maintaining the Company’s competitiveness as an employer in this regard within its particular business market.

Cross team events are organised with internal and external speakers to provide learning opportunities in a more social setting and to foster a one company community. There has been special focus during the year to reviewing and modernising the Company pension scheme and associated benefits to provide employees with more flexible and cost efficient offerings. This has been achieved by active employee participation through a dedicated working group with representatives from all teams.

(C) Our business relationships The spacious office premises with a location in the heart of the City of London offer excellent opportunities to build on existing and promote new business relationships in an evolving maritime industry. The Directors are pleased to see continued increased employee participation at all levels in industry forums, which serves to further develop business relationships, influence the industry and improve internal competence and experience, all key contributors to the overall Gard Group strategy.

(D) The community and our environment – how do Gard (UK) Limited operations impact the community and environment The Directors actively support the Gard Group‘s focus on sustainability and follow this through at company level. Gard (UK) Ltd continues to monitor and submit its own carbon footprint data for the Gard Group’s Annual Report. The Company continues its commitment to Sea Cadet Training and its relationships with maritime educational and other community establishments. Moreover, the Company through its dedicated industry liaison team provides strategic support to the Gard Group in its sustainability journey. Company employees participate in a broad and growing range of industry initiatives related to the green transition in shipping and both the Company and the Gard Group continue to explore new opportunities, knowledge sharing and co-operation with like-minded partners.

(E) Our reputation for high standards of business conduct The Directors are committed to high standards of integrity and business conduct in line with the ethos of the Gard Group. The Company adopts the Gard Group Code of Ethics and Business Conduct including its external whistle blowing channel and keeps under review with the aim of enhancing its Know Your Customer processes in line with the wider Gard Group ambitions. On a more local level, the Directors, through the Company’s compliance team, monitor regulatory developments to adapt and respond promptly and effectively to any changes in laws and regulations affecting the Company with particular attention to international sanctions given the international nature of the Company’s business.

The Directors continue to pay due regard to their duties under the Senior Managers and Certification Regime (SMCR) scheme and an annual fitness and proprietary assessment of relevant individuals and a dedicated SMCR training module for relevant employees is included as part of an annual compliance wheel.

(F) Fairness between our shareholders Gard (UK) Limited as a wholly owned subsidiary within the Gard Group and as such is aligned with the Gard group business strategy. There is close co-operation between the Directors and the Gard group leadership team. With an ultimate common ownership, common interest of purpose exists between shareholders and through this, the Directors exercise fairness between its shareholders in their decision making.