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 has given due regard to a number of matters in the performance of its duty to promote the success of the company and these includes listening to and considering the views of clients, brokers, employees and the company's other key stakeholders. Through this process, the Directors ensure that it understands the potential impacts of its 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 enterprise are summarised in the Gard group Integrated Report. Gard (UK) Limited operates within the Gard group governance architecture and 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 to contribute to the successful and sustainable outcome for the Gard group. The below summarises those matters which the stakeholders, directors and the board have considered 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. A decision has been taken for the Company to exercise its rights as Tenant under the break clause in the existing office lease and to relocate to improved and more favourably situated office premises. A new ten-year lease has been signed to ensure the Company is best placed physically in the London market to succeed in the long term. A change in financial year, adopting the calendar year, has been effected on a group basis to create overall efficiencies.

(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. A number of employee working groups have been established to offer input and assist with the design of the new office space ahead of the office relocation and in other respects, to review various employee benefits with the aim of updating these where appropriate. Post COVID, a Remote Working Policy has continued to allow for a phased return to the physical office. The Company’s investment in new enhanced employee focused office premises underlines its commitment to its employees by creating an attractive workplace environment. There has been a relatively high number of new joiners in the past few years and the incremental increase in days spent in the office is proving beneficial by the fostering of good inter-departmental relations and co-operation, and general team inclusivity. In-office employee-focussed events have been organised to provide learning opportunities in a more social setting. On a Gard group level, employees are actively encouraged to continue their participation in the group EDI listening process and to provide feedback on initiatives arising therefrom.

(C) Our business relationships

A return to face-to-face meetings as the preferred choice for contact with business partners has proven especially significant in enhancing relationships in the Company’s niche market place and has been valued at all levels internally and externally. In the Directors’ views, it has sent a positive message of the Company’s commitment to the London market. It is anticipated that the new office premises shall offer greater opportunity to build on existing contacts and develop new ones by offering a welcoming hub in which to do business. The Directors continue to encourage employee participation at differing levels and experience in industry forums in order to further develop business relationships in line with the overall 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. Company employees have participated in a wide range of industry initiatives in this space and by doing so, seek further opportunities to co-operate and in a share knowledge with partners having shared values. Gard (UK) Limited continues to monitor and submit its own carbon footprint data for the Gard group’s Integrated Report, it being a single holistic overview of the group’s business performance. The Company has renewed its commitment to Sea Cadet Training by sponsoring a further cadet and its relationships with maritime educational establishments continue to develop. Through this development, the Company has hosted two maritime law students for a mini- internship for the first time in 2022 in order to provide an opportunity for work experience.

(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 Business Conduct including its external whistleblowing channel. Specific training on whistle blowing has been delivered to all group employees during the 2022 year. On a more local level, the Directors, through the Company’s compliance team, monitor regulatory developments so are in a position to respond to any changes in regulatory expectations ahead of time. The Directors continue to pay due regard to their duties under the Senior Managers and Certification Regime (SMCR) scheme and have included an annual fitness and proprietary assessment of relevant individuals and a dedicated SMCR training module for relevant employees, 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.