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California State Teachers' Retirement System CalSTRS

PRI reporting framework 2018

Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]

Strategy and Governance

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]

Indirect – Manager Selection, Appointment and Monitoring

Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]

Direct - Listed Equity Incorporation

ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 14]

Direct - Listed Equity Active Ownership

Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20]

Assurance

Assurance [CM1 01.1 - 01.7]

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You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Outputs and outcomes

Outputs and outcomes

LEA 21. Percentage of (proxy) votes cast

21.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

We do track or collect this information

Votes cast (to the nearest 1%)

100 %

Specify the basis on which this percentage is calculated

of the total number of ballot items on which you could have issued instructions

of the total number of company meetings at which you could have voted

of the total value of your listed equity holdings on which you could have voted

21.2. Explain your reason(s) for not voting certain holdings

Shares were blocked

Notice, ballots or materials not received in time

Missed deadline

Geographical restrictions (non-home market)

Cost

Conflicts of interest

Holdings deemed too small

Administrative impediments (e.g., power of attorney requirements, ineligibility due to participation in share placement)

On request by clients

Other

We do not track or collect this information

21.3. Additional information. [Optional]

LEA 22. Proportion of ballot items that were for/against/abstentions

22.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

Yes, we track this information

22.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions	Breakdown as percentage of votes cast
For (supporting) management recommendations	59 %
Against (opposing) management recommendations	41 %
Abstentions	0 %

100%

22.3. Describe the actions you take in relation to voting against management recommendations.

          In some cases we reach out to the company.

No, we do not track this information

22.4. Additional information. [Optional]

LEA 23. Shareholder resolutions

New selection options have been added to this indicator. Please review your prefilled responses carefully.

23.1. Indicate if your organisation directly or via a service provider filed or co-filed any ESG shareholder resolutions during the reporting year.

Yes

23.2. Indicate the number of ESG shareholder resolutions you filed or co-filed.

2 Total number

23.3. Indicate what percentage of these ESG shareholder resolutions resulted in the following.

Went to vote	0 %
Were withdrawn due to changes at the company and/or negotiations with the company	100 %
Were withdrawn for other reasons	0 %
Were rejected/not acknowledged by the company	0 %

Total 100%

23.4. Of the ESG shareholder resolutions that you filed or co-filed and that were put to vote (i.e. not withdrawn) how many received:

>50%

50-20%

<20%

23.5. Describe the ESG shareholder resolutions that you filed or co-filed and the outcomes achieved.

https://www.calstrs.com/sites/main/files/file-attachments/green_report_2017.pdf

https://www.calstrs.com/report/corporate-governance-annual-report

Information on engagement is provided in the two reports above.

23.6. Describe whether your organisation reviews ESG shareholder resolutions filed by other investors.

We review all ESG SHP's that go to a vote during our proxy voting process.

23.7. Additional information. [Optional]

LEA 24. Examples of (proxy) voting activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

24.1. Provide examples of the (proxy) voting activities that your organisation and/or service provider carried out during the reporting year.

Add Example 1

ESG Factors	Environment Social Governance
ESG issue	Voted our proxy at Exxon
Conducted by
Objectives	Communicate to the company on specific ESG risks and on the proxy.
Scope and Process	1. Communicate to company 2. Assess current disclosure by company 3. Vote proxy at company https://viewpoint.glasslewis.net/GlassLewisWebDisclosure/webdisclosure/search.aspx?glpcustuserid=CAL090&WDFundGroupID=1303 4. Engage company on issues that have not adequately been met or disclosed.
Outcomes	Voted FOR certain SHP's at Exxon. https://viewpoint.glasslewis.net/GlassLewisWebDisclosure/webdisclosure/search.aspx?glpcustuserid=CAL090&WDFundGroupID=1303 Met with company and discussed SHP's and current disclosure status.

Add Example 2

Add Example 3

Add Example 4

Add Example 5

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Add Example 10

24.2. Additional information. [Optional]

For more information on CalSTRS Proxy Voting activites please visit our Corporate Governance annual report:

https://www.calstrs.com/report/corporate-governance-annual-report

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