Pension Protection Fund Responsible Investment Report 2020/21 26 Voting continued How we voted Voting statistics April 2020 – March 2021 Response Voting for segregated equities How many meetings were we eligible to vote at? 591 On a quarterly basis our voting and engagement reports are uploaded on How many resolutions were we eligible to vote on? 6,897 our website. In the table to the right, we present our segregated equities voting statistics for the period April 2020 to What % of resolutions did 100% March 2021, cast on our behalf by EOS. we vote on for which we were eligible? Voting against management is broadly Of the resolutions on which we voted, what 88% seen as an escalation action towards % did we vote with management? company management. The table on the far right presents a Of the resolutions on which we voted, what 11% split of our votes cast per topic of the % did we vote against management? shareholder resolutions 昀椀led. In some cases, the shareholder resolutions are Of the resolutions on which we voted, what 1% withdrawn prior to the meeting or when % did we abstain from voting? su昀케cient progress through engagement has been achieved with the speci昀椀c In what % of meetings, for which we did vote, 59% company, precluding a vote against a did we vote at least once against management? resolution. Taking action: Shareholder resolutions We voted on a total of 6,897 Voting by number Voting against management resolutions, the vast majority of of meetings or abstaining by issue April 2020 – Grand which (over 95 per cent) were March 2021 Abstain Against For total Shareholder resolutions proposed by management. 10% 4% 5% 0% Compensation 8 6 14 1% 6% 180 36% 7% Corporate 2 1 13 16 160 46% Governance 153 140 10% Governance/ 7 37 61 105 Directors’ related 120 53% Climate & 21 13 34 100 22% Environment 100 Other 5 22 27 80 Meetings in favour Board Amend articles 60 Meetings against (or against structure Audit & Routine Business 28 29 57 and abstain) Remuneration accounts 40 Meetings abstained Shareholder Other Social equity 4 4 20 resolution Investment/ & Human Rights Meetings with management Social Proposal 5 5 0 9 Capital M&A by exception Abstain Against For structure & dividends Grand total 9 100 153 262 In terms of regions and where we cast our votes, the most active region in terms of resolutions were Emerging Markets and North America, followed by Asia.