BOARD DIVERSITY POLICY

CONFIDENTIALITY STATEMENT

This document is a best effort to accurately describe the subject policy at the time of publication and will be effective from the date of Board approval.
The material contained herein is confidential and proprietary to Apollo Syndicate Management Limited (Apollo) and may not be reproduced or disclosed to others without the express authorisation of Apollo.

CONTENT

1        Document Information
1.1     Purpose
1.2     Regulatory Requirements
1.3     Audience

2       Board Diversity
2.1    Scope
2.2    Background
2.3    Policy Statements
2.4    Approach

DOCUMENT INFORMATION

1.1     Purpose
‍This document sets out the Board Diversity Policy which sets out the approach to diversity on the Board of directors (the ‘Board’).

‍1.2    Regulatory Requirements
‍This Policy Statement has been documented giving consideration to, and in compliance with, the relevant regulatory requirements.

‍1.3    Audience
‍This Policy has been designed for distribution to all within Apollo and on Apollo’s website.

BOARD DIVERSITY

2.1    Scope
This Policy applies to the Board of Apollo Syndicate Management Limited.

2.2   Background
The PRA requires that regulated firms:
• engage a broad set of qualities and competences when recruiting members to the board; and
• put in place a policy promoting diversity on the board.

Firms must also explain on their website how they comply with the above requirements.

2.3   Policy Statements
The Board aims to achieve sufficient diversity in its composition, including its sub-committees (including diversity of skills and experience); and seeks to prevent any conscious or unconscious discrimination.

It is recognised that diversity and inclusivity should enhance the Board’s effectiveness, enabling it to govern the business appropriately and to ensure policyholder protection.

Apollo recognises that by understanding and valuing diversity, within a culture of inclusivity that encourages input from all perspectives, we can build trusted relationships with our clients, colleagues and communities.

Apollo values diversity and inclusivity as an important asset that:

• enhances our culture;
• helps us to provide a better service to our clients; and, therefore
• enables us to maximise returns for capital providers and shareholders.

The Board, led by the Chair, will ultimately be responsible for ensuring the diversity of the Board. Apollo will outline its Diversity Policy on its website
(www.apollounderwriting.com/boarddiversity).

The Board Diversity Policy will be reviewed annually.

2.4   Approach
The Board’s approach will include:

• A review, at least annually, of the composition and performance of the Board, including its diversity and inclusivity, by the Remuneration & Nominations Committee of the Board.

• An annual Board effectiveness review, led by the Chair, which will be independently performed at least every three years, including an assessment of individual and collective competence and suitability.

• All new Board appointments will be made on merit, based on objective criteria, taking account of the specific skills, experience, independence and knowledge needed to ensure a suitably diverse Board composition.

• Apollo will only use search firms who are signatories to the Search Firms’ Voluntary Code of Conduct.

• The Board is responsible for ensuring that adequate succession planning is in placefor the Board. In doing so, the Board shall have regard to this policy and the composition and skill requirements of the Board at that time.

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