Asset 2

Governance

Governance principles

NLF Advisers:

The directors are responsible for monitoring investment policy and considering financial risk. The following agencies also contribute to management of the investment portfolio, custodial services (including safeguarding assets), accounting and company secretarial requirements:

NLF Registered Office

Citypoint
65 Haymarket Terrace
Edinburgh
EH12 5HD

Executive Secretary

Mrs J MacDonald
BDO LLP
55 Baker Street
London
W1U 7EU

Bankers

The Bank of New York Mellon
(London Branch)
One Canada Square
London
E14 5AL

Accountants

BDO LLP
55 Baker Street
London
W1U 7EU

Global Fiduciary Manager

BlackRock Investment
Management (UK) Limited
12 Throgmorton Avenue
London
EC2N 2DL

Auditors

Grant Thornton UK LLP
30 Finsbury Square
London
EC2P 2YU

Solicitors

Shepherd and
Wedderburn LLP
1 Exchange Crescent
Conference Square

Custodians

Bank of New York Mellon
London Branch
One Canada Square

Independent Investment Adviser

Nigel Webber

Technical Adviser

John Wilkins

The NLF is responsible for holding and investing funds to meet the decommissioning liabilities of EDF Energy in respect of its seven AGR and one PWR nuclear power stations along with certain other waste management liabilities. The NLF does not supply goods or services and does not consider that there are any risks in relation to the goods and services which it procures given their nature but considers it good practice to undertake voluntarily to comply with and support the objectives of the Modern Slavery Act, 2015 in respect of supply chains. To this end, it requires all qualifying tendering organisations to demonstrate what steps they have taken to put the relevant policies in place to prevent slavery and human trafficking, what due diligence they carry out in relation to new suppliers and what risks are associated with their businesses. This is the NLF’s annual slavery and human trafficking statement under seckon 54(1) of the Modern Slavery Act, 2015.