CORPORATE SOCIAL RESPONSIBILITY

CORPORATE SOCIAL RESPONSIBILITY CSR STATEMENT

Corporate Social Responsibility Statement Investment Approach Foresight is defined as Foresight Group LLP and its subsidiary companies and affiliates, the operations of which include investment management, as well as Operations and Maintenance for the solar industry and Meter Asset Provision as carried out by Brighter Green Engineering Limited and Foresight Metering Limited respectively. Foresight endeavours to act responsibly and fairly in all of its dealings, whether with or on behalf of its investors, investee companies, personnel, suppliers, business partners and other stakeholders. Within the context of this policy, Corporate Social Responsibility ( CSR ) is defined as achieving business success by acting in ways that honour the legal, ethical, commercial, social, environmental expectations of society, and other expectations that are held of business in making decisions that fairly balance the interests of all key stakeholders. In practice, Foresight implements its CSR values through a comprehensive set of policies, practices and programmes that are integrated into Foresight s business operations and decision-making processes throughout the organisation, including accountability and responsibility for current and past actions as well as future impacts. The key areas of focus for Foresight s CSR activities are: GOVERNANCE Our business conduct is based on the core values of integrity, excellence and social responsibility. It demonstrates our respect for our people, customers, suppliers and community OCCUPATIONAL HEALTH, SAFETY AND ENVIRONMENT Our policies provide guidance for creating and maintaining a healthy and safe workplace and achieving environmental leadership SUSTAINABILITY Our commitment to sustainability, both economic and environmental, is demonstrated through our investment focus on renewable energy and smaller growth companies, as well as the implementation of environmentally sustainable best practices across the operating businesses COMMUNITY INVOLVEMENT We promote educational, cultural and social developments in our community and encourage employees participation in projects that can help achieve this Foresight invests for the long term and works with its investee companies to grow shareholder value for the benefit of all parties. We encourage our investee companies in turn to fully recognise their corporate responsibilities to all stakeholders, including shareholders, customers, suppliers, employees, local communities, the environment and wider society. We endeavour to ensure that our investee companies operate in a long term sustainable manner, thereby creating stronger and more profitable companies, with a view to generating growing shareholder value and maximising returns for investors over the long term. Foresight encourages all investee companies and suppliers to adopt current best practice with regard to corporate responsibility, reflecting the circumstances applicable to each company. At the heart of our commitment to corporate and social responsibility is the Group s investment approach. We believe Environmental, Social and Governance ( ESG ) considerations play an important part in delivering responsible and sustainable growth for the long term. These factors have been integrated into all stages of our investment process, and are actively supported by all involved, regardless of seniority. With that in mind, Foresight has developed a Responsible Investment Framework to provide a suitable operational framework in matters related to the investment process, such that ESG has become part of the normal day-to-day operation. Foresight manages a number of funds and managed accounts all of which have varying investment objectives and strategies spread across Foresight s three distinct investment areas: Private Equity, Infrastructure and Environmental in the UK, US, Australia and Southern Europe. In all areas, and irrespective of the size of a transaction, Foresight is committed to identifying and pursuing investments that maximise returns to investors, and to responsible decision making to ensure that sustainable, risk adjusted returns are achieved. To that end, identification of potential investment opportunities includes proper assessment of ESG considerations to help avoid or lessen the chance of detrimental ESG events that might affect the value of any investment. United Nations Principles for Responsible Investment ( UNPRI ) As evidence of our commitment to ESG, Foresight is a signatory to the UNPRI, which is a voluntary framework concerned with the incorporation and promotion of ESG considerations into the investment decision making process, and provides a basis for investors to judge the quality of a board s ESG processes and positioning within an industry sector. As a signatory, Foresight submits an annual report to the UNPRI on its responsible investment activities, which is approved by senior management. This allows the Group to demonstrate to We believe Environmental, Social and Governance ( ESG ) considerations play an important part in delivering responsible and sustainable growth for the long term. More than this, the Group s investments aim to have a positive ESG impact: 700MW of electricity generating capacity of our solar assets 126MW renewable energy generating capacity, CO2 reduction and landfill diversion delivered by over 20 UK-based renewable energy and waste recycling projects schools and hospitals funded through our PFI projects growing portfolio of smart meters installed across the UK regional job creation and economic development supported by our private equity investments in smaller growth companies energy efficiency solutions provided to industrial and leisure sector market leaders superior Operations and Maintenance support we offer solar farm owners to optimise availability Foresight has a detailed set of procedures that govern pre-investment reviews, due diligence analysis, investment approval, post-investment monitoring and management of operations, reporting to investors and exit planning. These include ESG considerations throughout the process. stakeholders and the public how we incorporate ESG issues, understand where we sit in relation to local and global peers and to learn and develop our practices year-on-year. Foresight Group actively collaborates with the investment industry and relevant governmental bodies and regulators through direct conversations and contributing to collective consultation papers on matters affecting the investment process, including ESG. In addition, Foresight endorses the UK Stewardship Code published by the Financial Reporting Council, which sets out the responsibilities of institutional investors in relation to the companies in which they invest. 2 FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT 3

Corporate Social Responsibility FORESIGHT SOLAR FUND LIMITED HAS BEEN AWARDED A MAXIMUM FIVE STAR RATING BY 3D INVESTING. TRAINING AND COMMUNICATIONS Foresight s senior management team ensures that all personnel are suitably trained and fully aware of Foresight s ESG commitments, and their individual role in helping to fulfil them by complying with policies and procedures. Responsible Investment training takes place periodically to support the implementation of the Responsible Investment Framework. The Personnel within Foresight s operational businesses hold relevant certifications applicable to their roles, including Site Management Safety Training Scheme ( SMSTS ) qualifications. Training sessions provide updates on evolving industry standards and the opportunity to evaluate means for improving implementation, including sharing experience and best practice across the Group s activities. Foresight may engage external advisers to support the development and implementation of its Responsible Investment practice and procedures, as well as the further training of those working in its operational businesses. All personnel are encouraged to engage with senior management to address ad hoc questions and queries in connection with Foresight s corporate and social responsibility and Responsible Investment procedures. GOOD GOVERNANCE Foresight adopts a responsible and ethical approach to its own governance and organisation. Risk controls and compliance policies are implemented for investment management activities and operational businesses to ensure the fair treatment for all its investors, personnel, customers, suppliers and wider stakeholder base. We similarly expect our investee companies, suppliers and business partners to operate a corporate governance framework which complies with all applicable mandatory standards and which aspires to best practice. Foresight s management and advice is provided by Foresight Group LLP, which is regulated by the Financial Conduct Authority ( FCA ), and Foresight Guernsey CI Limited, which is licensed and regulated by the Guernsey Financial Services Commission. As an FCA-registered body, and to protect its long standing reputation, Foresight s corporate governance practices reflect the requirements of applicable laws and regulations, as well as our own vision of good governance. As mandated by its regulators, Foresight has in place appropriate internal policies and guidelines relating to anti-money laundering, anti-bribery and corruption. Foresight has controls in place to ensure fair allocation and placing of deals, and processes to reduce the instances where conflicts of interest might arise and where they do arise, to address them in a way that deals fairly with the interests of all the parties involved. As the manager of Foresight Solar Fund Limited and several Venture Capital Trusts, Foresight and the respective Boards of these fully listed companies work together to ensure that the principles of corporate governance as laid down by Stock Exchange rules are properly applied. SUSTAINABILITY It is Foresight s policy to implement environmentally sustainable best practices and to meet both the letter and the spirit of all environmental laws and regulations wherever we do business. Foresight has put in place initiatives to reduce energy and water consumption, reduce waste, and use renewable or recyclable materials where possible. Foresight promotes the use of public transport, car-sharing as a means of reducing the environmental impact of businessrelated travel, as well as video-conferencing to replace travel where appropriate. Foresight also targets investment in and support for businesses that are sustainable, both from an economic and an environmental viewpoint. We believe that our investment focus on local scale infrastructure facilities is also beneficial. Environmental sustainability is important not just in its own right, but also because it is supported by EU and national legislation. As a consequence of this, business models which do not meet sustainability criteria may be subject to increasing costs or regulatory hurdles, increasing investment risk. As such the emphasis that Foresight places on ESG considerations is also a means through which we can mitigate investor risk while maintaining returns. The UK Government has published an extensive list of sustainable development indicators, which Foresight believes are relevant to its activities in the following areas: Emissions reducing emissions of greenhouse gases, other gases and particulates; Quality of local environment preserving or improving quality; Energy sources - preferring renewable, indigenous sources such as waste/ virgin wood; Landfill diversion reducing use of landfill; Material consumption reducing use of natural resources; and Employment increasing employment The ratings are based on objective criteria including ethical suitability, financial track record, social responsibility management, social impact, transparency, fund age and size, and risk. Five star funds are required to demonstrate excellent transparency, a high social impact, a lack of exposure to ethically controversial companies, as well as appropriate financial performance. 4 FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT 5

BRIGHTER GREEN ENGINEERING, A WHOLLY OWNED SUBSIDIARY OF FORESIGHT GROUP, IS A MEMBER OF THE WILDLIFE TRUST, OFFERING SPECIALIST SOLAR PARK O&M SERVICES THAT ARE NOT AT THE EXPENSE OF LOCAL WILDLIFE AND ECOLOGY. We work closely with county wildlife trusts and ecologists and the local councils to ensure that ecological measures are tailored for the particular environment of each park. Wildlife trusts publish independent reports to track progress and measure ecological benefits. Additionally, biodiversity assessments are carried out on all Foresight-owned solar parks. Corporate Social Responsibility HEALTH & SAFETY Foresight is committed to identifying and managing health and safety risks, meeting legislative requirements and achieving best practice standards. Foresight places a strong focus on its own performance in health and safety outcomes and process improvements, as well as that of its investee companies, suppliers and business partners. By developing a clear and effective health and safety management policy, and ensuring compliance with it, we aim to create a safe and healthy working environment for ourselves, those we work with, and the public. Foresight promotes an appropriate health and safety culture that provides its people with the right balance of knowledge, understanding and skills to enable all work to be carried out safely. For the employees of Brighter Green Engineering, this means compliance with The Construction (Design and Management) Regulations 2015 and SMSTS certified, fully qualified staff. For our investee companies, the due diligence process focuses on how health and safety policies relate to each company s operations, the extent to which the company has updated and adapted its policies to follow current best practice and its track record in complying with applicable regulations, best practice and internal procedures. As a responsible investor, the monitoring of ongoing health and safety compliance for all investee companies is a priority, and this is of particular importance for infrastructure investments. COMMUNITY Foresight promotes a human resources policy which values and respects all personnel and ensures equality irrespective of role, gender, race, age, religious belief or sexual orientation. We seek to create an environment where every individual is valued for their contribution, which opens our business to new opportunities and we expect comparable standards from our investee companies, suppliers and business partners. Foresight supports charitable projects both at a group and an individual level. Bernard Fairman, Chairman of Foresight Group, is a Fellow of The Prince s Trust Enterprise Fellowship. In addition to fundraising, Foresight places its personnel and facilities at the disposal of the Prince s Trust mentoring programme, nurturing budding young entrepreneurs in fulfilling their business ideas and aspirations. Foresight is also proud to support the Friends of Israel Sport Centre for the Disabled ( FISCD ) through sponsorship of its annual Charity Tennis Tournament. FISCD is one of the largest and most advanced facilities in the world providing rehabilitation therapy using pioneering techniques developed at the Centre and sharing their findings and supporting facilities around the world. Regardless of age, religion, race or economic circumstances, the Centre, with the help of hundreds of dedicated volunteer workers and trained medical staff and therapists, works tirelessly to help disabled children and adults to find achievement through sport. Foresight Solar Fund Limited has acquired three operational solar farms through a Joint Venture with the community-benefit energy company, Big60 Million. The three solar farms provide a range of social and environmental benefits to those living locally. These benefits include the creation of biodiversity zones for use as an educational resource for local schools and colleges and the provision of clean energy to the local community. Together the three solar farms have an installed capacity of 34MW, and produce enough energy per year to power more than 10,000 homes. PROCUREMENT ESG considerations are an integral part of Foresight s investment processes, and Foresight is also concerned to ensure that the investee companies, suppliers and business partners it works with are similarly supportive. Foresight recognises the potential impact of its own, and its investee companies, purchasing power and procurement policies. In selecting our suppliers with care and a due focus on their own attitudes towards environmental, social and governance considerations we aim to ensure that this impact is positive, while also mitigating supply chain risks. Foresight works to advance procurement standards incorporating sustainable best practices for furniture, paper, office supplies, computer equipment, printing devices and other relevant items. MEASURING SUCCESS Foresight maintains an open and regular dialogue with all stakeholder groups, helping to ensure that the Group is properly balancing its objectives with their collective interests. In addition, Foresight commits regularly to review and improve its approach to CSR, as implemented through the relevant policies, practices and programmes in order to reflect current best practice. 6 FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT 7

Foresight Group LLP The Shard 32 London Bridge Street London SE1 9SG www.foresightgroup.eu Important notice 8 This document has been issued and approved by Foresight Group LLP, which is authorised and regulated by the Financial Conduct Authority. Past performance is not necessarily a guide to future performance. Stock markets and currency movements may cause the value of the investments and the income from them to fall as well as rise and investors may not get back the amount they originally invested. Where Investments are made in unquoted securities and smaller companies, their potential volatility may increase the risk to the value of, and the income from, the investment. FORESIGHT CORPORATE SOCIAL RESPONSIBILITY STATEMENT