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Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021 Pizza Hut (UK) Investment Plan (‘the Plan’) 1. Introduction 1.1. DC Section

Pizza Hut (UK) Investment Plan (‘the Plan’)

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Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

Pizza Hut (UK) Investment Plan (‘the Plan’)

1. Introduction

1.1. DC Section

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

2. Statement of Investment Principles

2.1. Investment Objectives of the Plan

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

2.2. Review of the SIP

2.3. Assessment of how the policies in the SIP have been followed for the Plan Year

2.3.1. Process for Choosing Investments (Section 2)

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

2.3.2. Investment Objectives (Section 3) and Investment Strategy (Section 5)

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

2.3.3. Risk Management and Measurement (Section 4)

2.3.4. Realisation of Investments (Section 6) Cash flow and cash flow management (Section 7)

2.3.5. Rebalancing (Section 8)

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

2.3.6. Environmental, social and corporate governance, Stewardship, and Climate Change (Section 9)

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

2.3.7. Trustee policies with respect to arrangements with, and evaluation of the performance and remuneration of, asset managers and portfolio turnover costs

3. Voting and Engagement Disclosures

As such, the Trustee does not use the direct services of a proxy voter.

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

3.1. Voting Activity Summary over the Plan Year

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

3.2. Example Summary of Significant Votes over the Plan Year

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021

Pizza Hut (UK) Investment Plan - Annual Implementation Statement for the Year Ended 31 March 2021