STEWARDSHIP CODE

Rule 2.2.3R of the Financial Conduct Authority (“FCA”) Conduct of Business Sourcebook (“COBS”) requires an FCA-authorised firm to disclose the nature of its commitment to the Financial Reporting Council’s UK Stewardship Code (the “Code”) or, where it does not commit to the Code, its alternative investment strategy.

Adherence to the Code is voluntary.

Actis LLP, Actis GP LLP and Actis UK Advisers Limited (together “Actis”, the “Firm”) have chosen not to commit to the Code because the Firm determines its approach to stewardship on a case-by-case basis, taking into account the best approach to optimising the returns on its investments.

Consequently, while Actis generally supports the objectives underlying the Code, the provisions of the Code are not considered to be relevant to the activities currently undertaken by the Firm. If Actis’s activities change in such a manner that the provisions of the Code become relevant, the Firm will amend this disclosure accordingly.