pg. 6

"We requested more information from the companies about the due diligence that had been carried out to determine if there were any indications of forced labour in their value chains. We asked if the companies had found any evidence of this, and what action had been taken, given the relative lack of opportunity for leverage or provision of remedy in the region. We also recommended that companies use the UNGP reporting framework and consider responsible disassociation or using alternative providers where necessary. For 2021, we have identified other companies that could be implicated in this issue."

pg. 7

"By encouraging our staff to speak up if they have concerns about working conditions and by asking our suppliers to agree to our Supplier Code of Conduct, we hope that we are equipped to identify issues of modern slavery and human trafficking, should they occur. In line with the international business of Federated Hermes’ investment philosophy, if we do identify issues, we will not automatically withdraw from the relationship or investment. We will seek to engage with relevant stakeholders, with the aim of resolving the issue. We will take a similar approach to engaging with any suppliers where we have concerns in order to encourage full compliance with the Modern Slavery Act."