pg. 3

"In April 2020, we updated the M&S Code of Conduct commitments focussing on key policy areas affecting M&S, ensuring we act in line with relevant laws and regulations, industry standards and giving stakeholder confidence. Our expectations for suppliers to provide good working conditions, comply with our Global Sourcing Principles (“GSP”) and identify significant risks, are set out in our supply chain and responsible sourcing commitment. To allow us to monitor compliance, each commitment is underpinned by a metric that we track, and which forms part of the Audit Committee’s ongoing assessment of the adequacy of our controls framework. In addition, certain senior colleagues will be asked annually to confirm their personal acceptance of, and compliance with, the Code of Conduct."

pg. 6

"International

Our Franchise partners are contractually required to comply with our GSP, and we receive assurances that they are compliant. However, we know there is more we can do to assess the potential for modern slavery and human rights abuses within their supply chains. We will be working with our partners this year to better understand local management of compliance areas, including modern slavery."