Remuneration report

The Remuneration Committee (the Committee) formulates and applies the Company policy with consideration to the prevailing economic climate in the major economies within which it operates and within the spirit of its core values which cultivate responsible leadership in its external and internal social environment. Consequently the Committee closely considers the Company’s sustained performance in building both shareholder value and a secure future for all its stakeholders.

This report has been prepared by the Committee and has been approved by the Board. It complies with Schedule 8 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008. This report will be put to shareholders for approval at the Annual General Meeting to be held on 9 February 2010.