GENDER P AY G A P. Glenn Allison CEO, Stewart Milne Group

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1 As an organisation with more than 250 employees, we are publishing our Gender Pay gap, annually. Gender Pay gap is defined as the difference in the average earnings for men and women over a standard period of time, regardless of role or seniority. At Stewart Milne Group, we have a median gender pay gap of 18.1% just under the national comparison of 18.4%. However, we must work to close the gap and increase representation of women across our business. GENDER P AY G A P R E P O R T Our industry continues to suffer from female underrepresentation, particularly in senior management. Stewart Milne Group aim to address this by promoting positive career options across a wide range of roles for women joining our company, and our industry, and supporting their development to senior roles. As an industry, failing to take action is not an option, we need to realise the benefits of great diversity and attract more women throughout all career paths. We have achieved equal pay for equal work and by working with schools, colleges and universities I am confident we can have the same positive impact and build a more diverse workforce. Glenn Allison CEO, Stewart Milne Group As CEO of Stewart Milne Group Limited, I am authorised to confirm that the information published in this report is in accordance with regulation 2 of the Equality Act (2010) (Gender Pay Gap Information) regulations 2017 is correct.

2 Measuring the pay gap The data is a reflection of both men and women in each 25% (quarter) of an organisation s pay structure. To ensure complete accuracy we engaged an independent company to run our data (Paydata Limited). HOW WE CALCULATE THE MEDIAN DIFFERENCE LOWEST HOURLY MEDIAN HOURLY HIGHEST HOURLY Median gender pay gap : difference between the median (middle) value of hourly pay rates (lowest to highest) for all men and median hourly pay rates for all women, expressed as a percentage of the median hourly rate for men. Mean gender pay gap : difference between the mean (average) hourly pay rate for all men and mean hourly pay rate for all women, expressed as a percentage of the mean hourly rate for men. LOWEST HOURLY MEDIAN HOURLY HIGHEST HOURLY THE DIFFERENCE = MEDIAN HOURLY PAY GAP AT STEWART MILNE GROUP THE GENDER SPLIT IS APPROX 80% MEN AND 20% WOMEN HOW WE CALCULATE THE MEAN DIFFERENCE NUMBER OF MALE EMPLOYEES NUMBER OF FEMALE EMPLOYEES = = MEAN MALE AVERAGE PAY MEAN FEMALE AVERAGE PAY THE DIFFERENCE = MEAN HOURLY PAY GAP

3 Understanding our Gender Pay Gap Gender pay gap is not about equal pay for men and women carrying out similar or work of equal value. Gender pay compares the average pay by gender of all roles collectively, regardless of level or type. Our figures take account of both part-time and full-time employees. Equal pay does not contribute to our gender pay gap, but it does raise awareness of the representation of women in the industry particularly in senior roles. Our current overall representation is 79.2% male and 20.7% female. The gap is primarily driven by large numbers of men working on construction sites and in manufacturing, which is consistent with demographics in our industry as a whole. Perceptions about a building site environment & shift patterns in manufacturing resulting in unsociable hours both tend to attract more men than women. With less women entering our industry, currently women make up 1% of all construction apprenticeships; this impacts on the number of female s occupying senior leadership roles. Our male female split is 84.2% male and 15.8% female at senior leadership level. *Data from April 2017 ** Office for National Statistics, Oct 2017, median hourly pay all industries & sectors MEAN PAY GAP Stewart Milne Group Employees* 18.1% = DIFFERENCE IN MEAN PAY MEDIAN PAY GAP Stewart Milne Group Employees* 8.4% = DIFFERENCE IN MEDIAN PAY THE NATIONAL MEAN GENDER PAY GAP IS 18.4% **

4 The Bonus Gap MEDIAN BONUS PAY GAP This is the difference between the median (middle) value of bonuses (lowest to highest) for all men in an organisation and the median value of bonuses of all women, as a percentage of the median bonus for men. MEAN BONUS PAY GAP This is the difference between the mean (average) value of bonuses for all men in an organisation and the mean value of bonuses for all women, expressed as a percentage of the mean bonus for men. Our median bonus pay gap of -364%, is driven by a higher proportion of women in sales related roles than men and these roles attract higher levels of bonus through commission. MEDIAN BONUS PAY GAP % MEAN BONUS PAY GAP % % RECEIVING BONUS MALE 4.7% FEMALE 19.9% MALE 79.2% FEMALE 20.7%

5 Distribution of Gender across four equal quartiles of pay from lowest 25% of earners to highest 25% of earners* The data is calculated by taking all the hourly rates, lowest to highest, divide into four equal sections : lower, lower middle, upper middle and upper. Calculating the number of men and women at each 25% pay band as a percentage of all employees within that pay band. Across the UK women make up only 11% of the construction workforce. Our figures mirror this, demonstrating we need to market the great career opportunities available in our industry and our business to attract more women and ensure we then provide supporting policies to retain them throughout their career into senior leadership roles. UPPER QUARTILE 84.2% 15.8% UPPER MIDDLE QUARTILE 81.5% 18.5% *There are no National comparators for these figures LOWER MIDDLE QUARTILE LOWER QUARTILE 78.5% 21.5% 72.8% 27.2%

6 Closing the Gender Pay Gap DIVERSITY TRAINING : We have rolled out Diversity & Respect training to all our employees to highlight unconscious bias to ensure we create a safe and supportive working environment for all our employees irrespective of age; gender or ethnicity. LEADERSHIP TRAINING : We continue to run our award winning programme, Managing People For Growth, as an essential skill for all our Line Managers and those who may have this responsibility in the future. ENCOURAGING WOMEN INTO THE INDUSTRY : We will continue working in partnership with Schools, Colleges and Universities to move towards a 50:50 gender split for all work experience; Foundation, Modern and Graduate Apprentice schemes.

7 Positive career path opportunities MARIANNE EVANS I joined Stewart Milne Group as Planning Manager some 13 years ago and have progressed my career to Area Director (Strategic Land). During that 13 year period I have had 3 promotions and working as a team with SMG s support I was able to take 6.5 months maternity leave when my beautiful daughter was born. Being an Area Director within what is normally known as a male dominated industry I definitely feel I have a responsibility to act as a role model for other women considering our industry as a career option. Being an Area Director within what is normally known as a male dominated industry I definitely feel I have a responsibility to act as a role model for other women considering our industry as a career option. ABBIE DUTHIE In my final year of Highers I knew that University was not the next step for me. I wanted to leave school and do something interesting using my maths skills. I applied for an Apprentice Quantity Surveyor and was accepted. Over the years I completed an HNC and was delighted to be given the opportunity to complete my degree, definitely a work and learn opportunity. My first year was spent completing my HNC at Inverness College on Block release where I would be at college for 4 weeks constantly twice a year for 2 years returning to my role in the Stewart Milne office between blocks. In my first year, as I had no prior experience of working in the construction industry, I spent much of my time shadowing the Quantity Surveyors in their role and putting what I had learned into practice. My training was built up in a way that then allowed me to assist the QS s with the projects they were running which then gave me a good platform for when it came to running my own projects. After spending 3.5 years working with the Stewart Milne Homes Commercial team I was then able to transfer from our Homes Division into our Timber Frame Manufacture Division, learning a new set of skills in my chosen profession. I applied for an Apprentice Quantity Surveyor and was accepted. Over the years I completed an HNC and was delighted to be given the opportunity to complete my degree, definitely a work and learn opportunity.