West Yorkshire Pension Fund's
Voting Policy

West Yorkshire Pension Fund will vote as follows.

For
Where the proposal meets best-practice guidelines and is in shareholders' long-term interests

Abstain
where the proposal raises issues which do not meet best practice guidelines but either the concern is not regarded as sufficiently material to warrant opposition or an oppose vote could have a detrimental impact on corporate structures or the issue is being raised formally with the company for the first time.

Oppose
where the proposal does not meet best-practice guidelines and is not in shareholders' interests over the long term. The voting policy will be applied to FTSE 350 companies and Eurotop 300 companies in which WYPF has a shareholding.

If you'd like a copy of the Voting Policy in full, please contact us.