pg. 3

"In particular, Argo’s ESG Investment Statement3 sets out the social considerations that the investment team considers in its qualitative assessment of a company and these include modern slavery risks. The majority of Argo’s investee companies are large ASX listed companies with rigorous corporate governance practices. Many are also likely to qualify as reporting entities themselves under the Act.

Argo actively engages with the management of investee companies regarding any perceived ESG risks or concerns, but as a passive investor we have limited ability to control the actions of investee companies. We note that Argo is not required under the Act to directly monitor or report on the operations and supply chains of its individual investees."

Not explicit on modern slavery