Stockholm, 2 July 2020

Period covered by the Communication on Progress (COP)
From: July 2019
To: July 2020

1. STATEMENT OF CONTINUED SUPPORT BY THE CHIEF EXECUTIVE OFFICER
To our stakeholders: I am pleased to confirm that Norron Asset Management reaffirms its support of the United Nations Global Compact’s Ten Principles in the areas of Human Rights, Labour, Environment and Anti-Corruption. In our annual Communication on Progress, we describe our dedication and approach to implement and continually improve the integration of the Global Compact and its principles into our business strategy, culture and daily operations. We also commit to sharing this information with our stakeholders via our regular channels of communication.

Yours Sincerely,

Alexander Zetterquist, CEO

Norron Asset Management
• Adopts a public statement and commitment to respect human rights. This is approved by the board and incorporated in the firm’s sustainability policy
• Supports the UN’s goals and issues through our core business activities and our interaction with stakeholders
• Promotes the membership of the UN Global Compact membership and the 10 principles internally, with our stakeholders and holdings
• Invests in companies that share our view and respect Human Rights and the international standards
• Opposes any form of discrimination.

Norron Asset Management
• Has a policy that addresses Human Rights and outlines our view on Human Rights.
• Deploys awareness raising and carries out training for employees on Human Rights
• Executes consultation and engagements with our holdings and other stakeholders in relation to Human Rights and the principles available.

• Updated and more detailed sustainability policy that entails our view on Human Rights.
• If one of our holdings would be involved in any Human Rights violation, we would investigate this carefully and act accordingly. We have a process that we follow and depending on the type and severity, we would first initiate a dialogue with management and based on the outcome we would act - and sell off if required and if we would consider that 's the right thing to do.
• Tracking and reporting regarding sustainability activities and active engagements with holdings and any associated changes and improvements in regards to Human Rights.
• Engagement activities, especially those relating to Human Rights are pivotal and of focus going forward.

Norron Asset Management
• Respects the right of all workers to join a trade union of their choice without fear of intimidation or reprisal, in accordance with national law
• Has put in place non-discriminatory policies and procedures
• Provides information and training needed for health and safety, policy and regulatory changes and associated systems and processes
• Does not participate in any form of forced, bonded labour or child labour
• Complies with minimum wage standards
• Ensures that employment-related decisions are based on relevant and objective criteria
• Considers hours of work and rest/paid holidays
• Updated and more detailed sustainability policy to include health and safety.

• Updated and more detailed sustainability policy that employees need to study.
• Improved reporting and new systems in place in regards to tracking holidays, hours worked and absenteeism.
• Balance regarding the hours worked/holiday. Employees are encouraged to exercise during the work day - gym card is provided. by the firm.
• High quality office furniture and equipment that facilitate good posture and health.
• Provide internal training on health and safety and how to stay safe and healthy in the workplace.

• Increased diversity within the firm through new hires.
• Updated and more detailed sustainability policy.
• Improved reporting and new systems in place in regards to tracking holidays, hours worked and absenteeism.
• Employee appraisals and evaluations.
• System and processes to deal with any incidents relating to holdings' violations of labour rights. We would start by speaking to the company and request a clarification and based on the outcome act accordingly.

Norron Asset Management
• Considers the environment and avoids environmental damage via regular maintenance of the facilities
• Ensures emergency procedures to prevent and address accidents affecting the environment and human health
• Relies on sustainable consumption - minimizes the use of energy and only prints what is absolutely necessary
• Defines company vision, policies and strategies to include sustainable development — economic prosperity, environmental quality and social equality
• Tracks and communicates progress on incorporating sustainability principles into business processes and systems
• Ensures transparency and unbiased dialogue with stakeholders.
• Increased tracking and more regular reporting on the environmental footprint of our fund.
• Policy to include our environmental concerns and management - firm-wide and for our investment universe.

• Educate and encourage employees to reduce energy consumption, business travel and increase environmental concerns.
• Recycling in the office
• Technology, processes and systems that increase energy efficiency and reduce environmental impact.
• Educate and use suppliers and products that care about the environment and minimise the negative impact.

• Recycling systems in place in the office (paper, cans etc.)
• Process and information on how to the company deals with incidents

Norron Asset Management
• Assesses the risk of corruption when doing business.
• Assessment of holdings and their risk exposure to corruption, AML and bribery.
• Has a policy which outlines the firm's anti-corruption commitment
• Mentions “anti-corruption” and/or “ethical behavior” in contracts with business partners
• Ensures that internal procedures support the company’s anti-corruption policy
• Join forces with industry peers and other stakeholders in regards to anti-corruption efforts
• Provides compulsory training for employees in regards to AML, bribery corruption - risk assessment, how to detect and what to do.

• Join forces with industry peers and other stakeholders in regards to anti-corruption efforts
• Provides compulsory training for employees in regards to AML, bribery corruption - risk assessment, how to detect and what to do.
• Assesses the risk of corruption when doing business.
• Assessment of holdings and their risk exposure to corruption, AML and bribery.
• Risk-management function sits with CEO and Head of Compliance.

• Risk management function carries out internal audits to ensure consistency with anti-corruption commitment, including periodic review by senior management.
• Process outlined and training outlined on how to deal with potential incidents of corruption - both concerning the firm and holdings.