NILGOSC acknowledges that, as a responsible investor, it has a legitimate interest in the management of those companies in which it invests. Through the exercise of proxy voting rights, NILGOSC will seek to improve corporate behaviour in respect of business, social and environmental ethics in addition to the Fund's fiduciary responsibility to add value to its investments. NILGOSC expects the companies in which it invests to comply with best practice in terms of corporate governance and sets out its expectations in a Voting Policy and Guidelines. NILGOSC will exercise its voting rights if possible at all company meetings for actively managed listed equity. NILGOSC has appointed Manifest as its corporate governance research provider and uses the detailed information and financial analysis provided to make informed voting decisions in line with the NILGOSC voting policy. Manifest casts votes electronically on NILGOSC's behalf, in accordance with its bespoke voting policy.

NILGOSC's policy on Conflicts of interest, Transparency of Proxy Voting activities and Securities Lending are contained in the Statement of Adherence to the UK Stewardship Code which is available at: http://www.nilgosc.org.uk/DataEditorUploads/Pension%20Fund/Stewardship%20Code%20Statement%20July%202017.pdf