Lockton Re Environment Report 2024

Lockton Re

Environmental Report

2023 - 2024

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ENVIRONMENTAL REPORT | LOCKTON RE

Environmental responsibility report I’m pleased to present Lockton Re LLP’s Environmental Report for the 2023–2024 financial year, which outlines our continued progress towards a low-carbon strategy. At Lockton Re, we understand the importance of measuring and addressing the environmental impact associated with delivering our services across global markets. This insight enables us to set meaningful short and long-term targets to reduce our emissions and to encourage our suppliers to follow suit. We recognise that reducing CO₂ emissions takes time, particularly as it depends on the evolution of external processes and technologies. In the meantime, we offset all our measured carbon emissions in line with the PAS 2060 standard. This ensures we are certified carbon neutral, meaning that working with Lockton Re does not contribute to our clients’ reported CO₂ emissions. We remain committed to responsible environmental stewardship and to playing our part in the transition to a more sustainable global economy.

Emily Watson COO - International

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ENVIRONMENTAL REPORT | LOCKTON RE

CO₂report Emission data and review 2023-2024

Summary CO₂e - New hybrid calculation illustrates an increase in CO₂e

This report is presenting the 2023/2024 data as a stand-alone, set of CO₂e calculations as the report has changedto include a Well-to-Tank (WTT) element within theCO₂ein order tobetter identify theupstream supply side CO₂e. We are committed to using a new CO₂e calculation method going forward. And we are in the process of doing so. We are moving from PAS 2060 Carbon Neutrality Certification to the ISO14068-1 Certification, which is changing the methodology for reporting.

Includes WTT 2023-24

Overall CO₂e2023-24 Lockton Re

Lockton ReCO₂e MeasuredQuantities 2023-24

Scope 1 Company Car

9.14

Scope 2 Electricity Consumption (Market Based)

0.00

Scope 3

Cat. 3. Fuel- and energy related activities (not included in Scope 1 or Scope 2) Cat. 6. Business travel (not included in Scope 1 or Scope 2)

2.40

1,356.85 1,359.25

Scope 3 total

Total Tonnes of CO₂e (market-based) - Tonnes of CO₂e per employee - Tonnes of CO₂e per £M turnover Total Tonnes of CO₂e (location-based)

1,368.39

6.61

19.08

1377.14

Methodology At Lockton Re, we are committed to transparent and robust emissions reporting. Our measurements are aligned with our financial year and meticulously calculated with the assistance of an external third party, Carbon Footprint. Our Scope 1 and 2 emissions are precisely derived from activity data, such as electricity consumption, applying the appropriate emissions factors for UK electricity generation. For Scope 3 emissions, we currently base our calculations on comprehensive activity data, including the total mileage of flights flown, and this year, we have enhanced our methodology to include the Well-to-Tank (WTT) element. While we acknowledge that our Scope 3 reporting is an evolving process and does not yet capture every aspect of our emissions, Lockton Re, in collaboration with our third-party consultant, is actively enhancing our reporting capacity. This ongoing effort will enable us to capture all necessary data and build a complete and comprehensive Scope 3 reporting profile in the future.

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ENVIRONMENTAL REPORT | LOCKTON RE

Three emission scopes are set down in the GHG protocol and are detailed below:

Scope 1: Direct emissions Occur from sources that are ownedorcontrolled byLockton. Examples: Fuel combustion, Gas burnt.

Scope 2: Electricity indirect emissions GHG emissions from the generation of purchased

Scope 3: Other indirect emissions

An optional reporting category for all other indirect emissions that are a consequence of our activities. These occur from sources not owned or controlled by the company. Examples: electricity transmission and distribution losses, employee business travel, waste etc.

electricity consumed by Lockton (usingboth location andmarket based approach (dual-reporting).

Emissions analysis by scope Scope 1 Emissions 9.14 tCO₂e

For the 2023-24 reporting year, Lockton Re's Scope 1 emissions totaled 9.14 tCO₂e, stemming solely from fuel consumed by a single owned company vehicle. We confirm that no fuel was purchased for onsite electricity or heat generation

Lockton Re is powered entirely by 100% renewable electricity.

Scope 2 Emissions electricity consumed 0 tCO₂e

Lockton Re operates from the St Botolph Building, a site powered by 100% renewable electricity sourced directly from the national grid. This renewable status has been formally certified by both the building’s landlord and its electricity supplier, reinforcing our commitment to transparency and environmental responsibility. As a result, all electricity-based emissions associated with our operations at this location are classified as zero under Scope 2, aligning with our broader sustainability goals. From Q3 2022 we started operating from the 3 rd floor of the St Botolph giving us a space of approximately 20,000 sq.ft. Whilst in the previous years we have been operating on part of the second floor alongside our sister company Lockton LLP.

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ENVIRONMENTAL REPORT | LOCKTON RE

Scope 3 Emissions 1,359 tCO₂e

Scope 3 tC02e Emissions

1000 1200 1400 1600

0 200 400 600 800

1359

849

412

2021-22

2022-23

2023-24

This year's Scope 3 tCO₂e reporting shows a significant shift from previous years, reflecting a more comprehensive approach to measuring our emissions. Travel now accounts for much of our Scope 3 total, at 1,357 tCO₂e out of 1,359 tCO₂e. A deeper look reveals that air travel alone is responsible for 95.6% of these emissions, totaling 1,299 tCO₂e. This data clearly identifies travel as our most critical area for emissions reduction for and the future as we work to build a complete picture of our environmental impact. The rise in part does reflect an increase in the extent of travel undertaken by our associates in delivering the substantial growth the business has undergone over the previous 12 months. A revision to include WTT in the calculation has also raised theamount reported. Additionally, as we work to improve our entire Scope 3 reporting, we expect this figure to rise again for our 24-25 reporting.

Overall CO₂e assessment and commentary Asperprevious years,one area stands out inour CO₂e profile, thatis travel. Whilstair travelrepresentsthemajority, cartravelis areasonable element anduseoftaxis and rail also contribute amount to our emissions as a result of this.

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ENVIRONMENTAL REPORT | LOCKTON RE

Carbon offsetting

Continuing to step further. We are carbon neutral with verified measurement and verified offset.

Lockton is focusing onremovingCO₂fromwhatwedo, andthisprogrammewillgradually improveourCO₂e profile. Until it succeeds, and particularly as technology advances to allow lower or zero carbon options for travel, we will continue with our chosen partner, Carbon Footprint, to select and use accredited offset schemes. To do this we need accurate verified measurement, which is covered earlier in this report, and then purchase carbon credits to offset all our emissions. The offset method remains unchanged from the prior year and we have again undergone PAS 2060 assessment of our programme to recognise, accredit and reinforce our Carbon Neutral credentials. We continue to be proud to say we are a carbon neutral organisation. In the future as other targets impact on our generated CO₂ the carbon neutral position will be maintained with carbon offsetting reducing as our business processes are gradually de-carbonised. Ouroffsettingisundertaken tointernationally recognisedstandardsandforthisweusePAS2060.Wehave alsorecognised that from 1st January 2025, ISO 14068-1:2023 will replace PAS 2060. Our measurement and reporting and offsetting are therefore being changed to align to this standard in future reports.

CERTIFIED CARBON NEUTRAL TO PAS 2060

This year we have used one main VCS Gold Standard Project, a Wind Power Project in Madhya Pradesh, Gujarat and Kerala by D.J. Malpani.

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ENVIRONMENTAL REPORT | LOCKTON RE

Thewindpowergenerated fromtheprojectwillbedisplacingtheelectricity generated fromthermal power stations feeding into the Indian grid (Indian Electricity Grid) and will be replacing the usage of diesel generators for meeting the power demand during shortage periods. Since the wind and solar power is Green House Gas (GHG) emissions free, the power generated will prevent the anthropogenic GHG emissions generated by the fossil fuel-based thermal power stations comprising coal, diesel, furnace oil, and gas. The estimation of GHG reductions by this project is limited to carbon dioxide (CO₂) only. The proposed project activity involves the installation of Wind Power Projects. The total installed capacity of the project is 60 MW, whichinvolves the operation of Wind Turbine Generators (WTGs) in multiple states of India.

Theproject contributes to theUNSustainable Development Goals in thefollowing ways:

Technological well-being: The successful operation of project activity would lead to promotion of wind-based power generation and would encourage other entrepreneurs to participate in similar projects. Theproject activity will generate power using zero emissions wind-based power generation which helps to reduce GHG emissions and specific pollutants like SOx, NOx, and SPM associated with the conventional thermal power generation facilities.

Social well-being: The project helps in generating employment opportunities during the construction and operation phases. The project activity will lead to development in infrastructure in the region, like development of roads and also may promote business with improved power generation. The project is a clean technology investment in the region, which would not have taken place in the absence oftheVCSbenefits. The project activity will also help to reduce the demand supply gap in the state.

Environmental well-being: Wind beingarenewable sourceof energy, it reduces thedependence on fossil fuels and conserves natural resources which are on the verge of depletion. Due to its zero emissions the project activity also helps in avoiding significant amount of GHG emissions.

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ENVIRONMENTAL REPORT | LOCKTON RE

Certification: The project is VCS certified, and the Retirement Certification is recorded here for 8,977 tonnes: https://registry.verra.org/myModule/rpt/myrpt.asp?r=206&h=256204

We also have two secondary offset purchases as below:

https://registry.verra.org/myModule/rpt/myrpt.asp?r=206&h=261804 Renewable Solar Power Project by Adani Green Energy Limited Project type: PRO Project Country/Area: India - 150 tons

https://registry.verra.org/myModule/rpt/myrpt.asp?r=206&h=236959 Reduced Emissions from Deforestation and Degradation in Keo Seima Wildlife Sanctuary Project type: PRO Project Country/Area: Cambodia - 151 tons Total offset (Lockton Companies LLP & Lockton Re): 9,278 tonnes CO₂e Lockton Re: 1,377 tonnes CO₂e CONTINUED PROVISION OF AN EMPLOYEE BENEFIT TO OUR ASSOCIATES IN ASSISTING THEIR PERSONAL HOUSEHOLD CO₂ OFFSET.

This past year has been the sixth year of our voluntary employee benefit for our associates, this enables associates to join a scheme that allows them to offset their personal household CO₂. We have continued this benefits programme and retaining our link with Carbon Footprint, we have maintained our scheme whereby Lockton contributes50%of thecostoftheCarbonOffsetandthe associate contributes the remainder on a monthly basis. The amount of carbon to be offset is calculated by Carbon Footprint usingnationally publisheddatasourcesforhouseholdCO₂generated and the cost to the associate is a simple £2.50 per month. This scheme is now embedded in our employee benefits programme. Associates are then supplied with an annual certificate confirming their participation and that the CO₂ has been offset, ; see the example opposite. Over the years that the scheme has been running, 9,500 tonnes of CO₂ have been offset under VCS projects.

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CO₂ reduction and targets Absolute reductions and performance reductions

The reworking of our environmental programme continues within our ESG framework, as such, we have continued to monitor and review our CO₂ using our previously stated targets, although we expect these to be restated in future years.

Total Emission Per Employee

Target setting remains a vital part of Lockton Re’s work to improve the environmental impact we have. We acknowledge we are on a journey to data completeness; this will see our targets and bench line change as we improve the methodology and data used to reach our total emissions. As a result, we have seen ourselves miss our targets especially in our Scope 1 and scope 3 reporting as we remain transparent in our approach to collect data and improve Lockton Re’s GHG inventory. We have set a target of 50% reduction on actual emissions by 20233 using our 2022-23 emissions as our baseline, this will change as we improve the transparency and accuracy of our GHG calculaitons In 2023 using our FY 22/23 emissions which were validated by our third-party assessors, we set our emissions baseline. since then, we have worked towards a 50% reduction by 2033 for our Tonnesof CO₂e per employee. This year we reported a 6.61 tCO₂e/per employee for total emissions intensity which is an increase of 1.47 tCO₂e/per employee from our FY22-23 baseline year of 5.24 tCO₂e/per employee. 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33 tCO2e/Per Employee 5.24 6.61 4.978 4.716 4.454 4.192 3.93 3.668 3.406 3.144 2.882 2.62

Actual

Target

Performance against targets

We anticipate an increase in our total reported emissions for the upcoming period. This change is not a reflection of an increase in our operational footprint, but rather a result of our commitment to improving reporting accuracy and transparency. We have enhanced our calculation methodologies and expanded our data collection to provide a more complete and robust view of our environmental impact. This refined approach gives us a more comprehensive emission figures from which to measure progress and set more effective emissions reduction targets for the future.

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ENVIRONMENTAL REPORT | LOCKTON RE

Scope 1Performance

Scope 1 tCO2e Emissions Target

10

9.14

8.68

8.23

7.77

7.31

8

6.86

6.398

5.941

5.484

6

5.027

4

2

0

2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33

Actual

Target

Performance against targets

As of 2023-24 we started to report on the new vehicle purchased by Lockton Re, Our Scope 1 emissions increased from 0 to 9.14 in 2024 due to the purchase of a company vehicle. This new asset is a direct emissions source, with the 9.14 figure representing the total emissions from its fuel consumption for the year. Our Scope 1 targets has been calculated using the new emissions and we will work to meet this target.

Scope 2Targets Electricity

As Lockton Re continues to grow, so too does our operational footprint, potentially leading to the need for additional office space. Our current London office in the St Botolph building proudly operates on 100% purchased renewable electricity, a commitment upheld since 2021. We're actively working with our landlord to ensure this status is maintained for the duration of our lease. Crucially, as we potentially expand into new locations, we are committed to replicating this 100% renewable electricity standard across all our future offices. This proactive approach underscores our dedication to sustainable growth.

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ENVIRONMENTAL REPORT | LOCKTON RE

Scope 3 Performance

Scope 3 tCO2e Emissions Target

0.00 200.00 400.00 600.00 800.00 1000.00 1200.00 1400.00 1600.00

1359.25

849.14

806.55 764.10

721.65 679.20

636.75 594.30

551.85 509.4

466.95 424.5

2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33

Actual

Target

Performance against targets

The increase in our reported emissions for the current period is primarily a result of enhanced calculation methodologies and increased data coverage, rather than a significant change in operational activities. We have updated our calculations to incorporate the latest emission factors and have expanded the scope of our data collection to include sources that were previously not accounted for. These changes provide a more comprehensive and accurate representation of our total environmental footprint, reflecting our commitment to greater transparency and improved reporting standards. Transport and travel This area of our CO₂e reporting has shown a substantial increase this year. The development of an alternative calculation method has changed the numbers substantially and review of this change has indicated from our external auditors that they are in agreement with this higher number. Our CO₂e per associate related to travel is kg, of which 95.5% is related to air travel. As such, this number will now be used for the future years reports as a new baseline year and targets will be set around this. Secondary target 1/3ofcurrentinternal facetofacemeetings tobemovedtovideomeetingsby2028, thiswillcontributetowards the reduction in travel CO₂. We are expecting the development of an appropriate measurement methodology as part of the revised measurement, target and reporting for next year.

Recycled paper. Thereis nochange on thisfrom previous years, working with our supplier, Banner/Complete, wehavemandated all supplied paper to us should be recycled. The focus remains on reduction of the absolute quantity of paper used. Waste We remain very conscious of the need to encourage our landlords and ourselves regarding effective waste management. The social and potential pollution impact can be reduced if the quantity of waste can be lowered, and the reuse and recycling of the waste can be improved. Waste and Disposal. We have continued to work with our landlord at the St Botolph Building and for the second year we are using this measured waste quantities for the waste leaving site. We still maintain our goal to reduce all waste across the business. This year the advised total for the 12 months to April 2024 we saw a substantial decrease on the previous year’s statistic of 21% and a waste per head value decreased by 34%. - An overall 30% reduction in paper use within 5 years, based on 2017-18 purchased sheets. - Alongside this we set the target that 25% of the paper we use was to come from recycled sources by 2020. We have met those targets; we set a stretched target to 2025-26. Paperuse We previously advised that for paper we set one reduction target and one technical target, albeit that paper in and of itself is a low tCO₂e total impact item.

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ENVIRONMENTAL REPORT | LOCKTON RE

Additional environmental programmes We have continued existing reuse/upcycle treatment of our two prime waste streams of redundant IT equipment and surplus furniture. Recycle IT equipment We ensure accredited data wiping has taken place and allowed reuse (upcycling) by others of redundant equipment. The remainder has been broken down into spares for reuse by others. Furniture Our prime furniture supplier is Senator and we have continued to work with them to ensure replaced surplus furniture is taken by them, where we have worked with them to upcycle where possible to schools and other organisations, with the remainder going through to their UK based dismantling facility. Package movement Our supplier partner for package movement is DHL, and in conjunction with their Go Green Climate Neutral service we seek to minimise the impact of our movement of packages and equipment between offices and with clients, whether within the UK or internationally. As part of their Go Green Programme, we pay an additional amount to them for package movement to offset thecarbon costof thatmovement. It is also appropriatetonote thatDHLhavetheir own carbon reduction programme. Wecontinue tolooktoremoveplastics,particularly allsingleuseplasticfromthebusiness andidentify and remove all unnecessary plastic use from the business. Our catering and cleaning contractors in London are supporting this removal of single use plastics. Wehaverecently changed catering contractor and welcomeand supporttheirown environment programme where they are seeking B- Corp status for their entire business. With other suppliers where our relationship with them is transactional rather than through a framework as we don’t have sufficient volumes, it is proving more difficult to get them to use plastic free protection around delivered items. Our furniture supplier have removed plastics from their delivery as part of their own strategic move, a welcome bonus of working with an appropriate organisation. Pollution andplastics Key Targets

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ENVIRONMENTAL REPORT | LOCKTON RE

Secondary targets We have reviewed these again and the status is as previously reported, and they continue to be a focus for us. y Adopt bulk delivery and dispense via refill for all cleaning and bathroom products, stopping waste bottles. Continuing, ozone system remains in use, some limited chemicals has been needed to address very small specific cleaning issues. We are looking with our supplier at further alternatives, where ozone does not achieve a satisfactory outcome. y Removal of plastic single use bags from the waste collection and cleaning process Continuing y Remove plastic based corporate and marketing products. Continued, albeit very limited over the past 12 months. y Adopt non plastic milk delivery and dispense within the offices . All London semi‐skimmed milk is now delivered in glass bottles and reused. y Maximise use of all electronic email and social media to distribute messages and information to associates. Continuing. y Maximise the use of plastic free products in all office stationery, including bamboo, wood and other products. Although alternatives were investigated the low consumption from existing stock over the year has meant progressing this to completion will now be over the next 12 months. y Client Presentations and bound folders, redesign the Lockton presentation folder and house style to remove plastics from the process whilst retaining the professional Lockton production values. Underway, purpose made folders that are plastic free, and recyclable are in use, with a continuing drive and support to associates.

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PAS 2060 − Environmental Targets

PAS2060

PAS 2060 REQUIRES THAT WE ALSO LOOK AT THE LONGER TERM AS WELL AS MEASURING THE CURRENT.

PAS 2060 Carbon Reduction Plan Under the PAS certification process, we need to continue to demonstrate a continuing carbon reduction programme. The effect of COVID-19 restrictions during 2021 on our travelling necessitated re-baselining our emissions this year. We remain committed to our previous set targets in our carbon management plan. • Tomaintain all electrical supplies to Lockton Re remain 100% Renewable • Progress on PAS 2060 Carbon Reduction AirTravel The change in methodology being adopted at present means we are having to re-baseline our reporting on this and will align new targets next year to the requirements of the ISO14068-1 measurement and reporting. Renewable Electricity Lockton Re operates solely from its London office within the St Botolph building. Thanks to our landlord and electricity supplier, this building is powered by a certified green tariff, allowing us to proudly report zero Scope 2 market-based emissions. This achievement underscores our commitment to sustainable operations directly within our core place of business.

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ENVIRONMENTAL REPORT | LOCKTON RE

Environmental policy and our accreditation

LOCKTON RE CONTINUES TO HOLD UKAS EXTERNALLY ACCREDITED ISO14001:2015 ENVIRONMENT MANAGEMENT SYSTEM.

Lockton RE ensures the extensive work is undertaken during the year to maintain and update the management systemsand records and essential external verification takes place in Marcheachyear. Wework withEquasas our external partner to provide the control software and advice on operation and maintenance of our systems, and with BAB Assessment as our external UKAS Audit. The Environmental Policy forms part of the Lockton ISO 14001:2015 Environment Management System and is reproduced below. Lockton Re Environmental Policy Lockton Re recognises that its business activities interact with the environment in a variety of ways. These activities have an impact in the key areas of:

y Raw material use y Energy use y Generation of waste materials

The companyrecognises that it has a responsibility to help protectthe environment wherever it has an opportunity to do so, be a responsible neighbour and to provide a comfortable environment for its associates to work in. As such, the company is committed to:

y Continual improvement in the environmental impact of its business activities y Preventing pollution wherever possible y Complyingwithall relevant legal, customer, andother environmental requirements y Occupying and using its offices in a manner which minimises the consumption of energy y Improving the efficiency with which it uses office materials y Minimising the generation of waste materials and their environmental impact

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ENVIRONMENTAL REPORT | LOCKTON RE

The company will achieve these commitments through the following means: y The implementation and maintenance of an Environmental Management System that is independently certified as compliant with ISO 14001:2015. y Employing processes that identify the aspects of the Company’s business that have an environmental impact and quantifying the significance of each aspect. y Setting objectivesforreducing itsenvironmental impactandmaintaininganenvironmental performance improvement programme to enable them to be achieved. y Ensuring that its associates, suppliers and customers are aware of any support required by them to support the Company’s commitments and environmental objectives. y Ensuring thatallelectrical andelectronic devicespurchasedmusthavethehighestenergy ratingavailable unless there is a justifiable business case for doing otherwise. y Ensuring that all paper purchased contains at least 90% recycled content or is from a certified sustainable source. y Facilitating the re-use and recycling of all waste materials and redundant equipment generated by the company wherever it is economically viable to do so. y Training itsassociates in goodenvironmental protectionpracticesandencouraging associateinvolvement in environmental improvement initiatives. y Continually monitoring the environmental impact of its business activities. y ThisEnvironmental Policyisanintegral partofthecompany’sbusinessandmustbesupportedbyall associates as an integral part of their daily work.

Phil Owen, Lockton Re LLP, Chief Risk Officer

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ISO14001:2015 Certification – Lockton Companies LLP

british-assessment.co.uk Certificate issued by Amtivo Group Limited T/A British Assessment Bureau Ltd. Certification is conditional on maintaining the required performance standards throughout the certified period of registration. Amtivo Group Limited. 30 Tower Views, Kings Hill, Kent, ME19 4UY

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ENVIRONMENTAL REPORT | LOCKTON RE

CO2 Measurement Validation to ISO14064-3 Lockton Re LLP

Statement of verification Lockton CompaniesLLPand Lockton Re The St. Botolph Building 138 Houndsditch London, EC3A 7AG

29 November 2024

Scope Lockton Companies LLP and Lockton Re (henceforth referred to as Lockton) engaged Carbon Footprint Ltd to verify its carbon footprint assessment and supporting evidence for the period 1st May 2023 to 30th April 2024. Lockton is responsible for the activity data input into the Sustrax MX software. The responsibility of Carbon Footprint Ltd is to provide a conclusion as to whether the statements made are in accordance with the GHG Protocol. Methodology The verification was led by Finlay Dyche-Brookes, Senior Environmental Consultant, Carbon Footprint Ltd. Lockton used the Sustrax MX software to calculate its footprint. Carbon Footprint Ltd completed the review in accordance with the ‘ISO 14064 Part 3 (2019): Greenhouse Gases: Specification with guidance for the verification and validation of greenhouse gas statements’. The work provides a limited level of assurance with respect to the GHG statements made. Carbon Footprint Ltd believes that the review of the assessment and associated evidence, coupled with this subsequent report, provides a reasonable and fair basis for our conclusion.

The following data was within the scope of the verification (below shows the post-audit results):

Lockton Companies LLP

Location-based tCO₂e

Market-based tCO₂e

Scope

Activity

Scope 1

Company car travel

9.14 9.14

9.14 9.14 0.00 0.00

Scope 1 Sub Total

Scope 2

Electricity consumption

54.68 54.68

Scope 2 Sub Total

Cat. 3. Fuel- and energy related activities (not included in Scope 1 or Scope 2) Cat. 6. Business travel (not included in Scope 1 or Scope 2)

20.29

2.40

Scope 3

1,356.85

1356.85

Scope 3 Sub Total Total tonnes of CO2e

1,377.14

1,356.85

Tonnes of CO2e per employee Tonnes of CO2e per £M turnover

6.96

6.61

20.09

19.08

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ENVIRONMENTAL REPORT | LOCKTON RE

Assurance opinion Based on the results of our verification process, Carbon Footprint Ltd provides limited assurance of the GHG emissions statement, and found no evidence that the GHG emissions statement: y is notmaterially correctandisnotafair representationoftheGHGemissionsdata andinformation; y has not been prepared in accordance with the GHG Protocol. It is our opinion that Lockton has established appropriate systems for the collection, aggregation, and analysis of quantitative data for determination of GHG emissions for the stated period and boundaries.

Finlay Dyche-Brookes, BSc (Hons) Senior Environmental Consultant

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CertificationofCarbon NeutralOperation Lockton Companies LLP and Re LLP

This certificate confirms the carbon neutrality for both Lockton Companies LLP and Lockton Re LLP, as the total emissions offset accounts for their combined calculated emissions.

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Lockton Re LLP Authorised andregulatedbytheFinancialConductAuthority. ALloyd’sbroker. Registered in England & Wales at The St Botolph Building, 138 Houndsditch, London EC3A 7AG.

Company No. OC428915. locktonre.com

HP032025