30 July 2024 – APPROVED – CONFIDENTIAL AND LEGALLY PRIVILEGED
Remuneration Disclosure Statement
Nikko Asset Management Europe Limited (“NAME”/the “Firm”)) is subject to the MIFIDPRU
Remuneration Code as detailed in SYSC 19G of the FCA Handbook. For these purposes NAME has beenclassified as a non-small and non-interconnected firm (“Non-SNI Investment Firm”). This statement isissued in compliance with MIFIDPRU 8.6 which require firms to disclose certain information relatingto the Firm’s remuneration policy (the “Remuneration Policy”). These disclosures are made withreference to the size, internal organisation, nature, scope, and complexity of the Firm’s activities.
Objective of the Remuneration Policy
The Remuneration Policy is intended to ensure that staff of NAME are remunerated and rewarded ina manner which is: transparent and fair; aligned with the risk appetite of the business; promotes
effective risk management; delivers good outcomes for our clients; and supports positive conduct andbehaviours.
Approach to remuneration
Fixed Remuneration
All staff 1 benefit from a base salary or fee which is paid to individuals throughout the year, irrespectiveof performance (by the Firm or individual performance) (“Fixed Remuneration”). Fixed Remuneration
also includes other contractual benefits (such as medical care, life insurance and pensioncontributions) and any Guaranteed Compensation Awards. This constitutes a significant proportion of
the total remuneration paid by NAME. The level of any Fixed Remuneration is based on theprofessional experience, seniority, role and responsibility within the Firm.
Variable Compensation Awards
NAME may, in addition to Fixed Remuneration, and at its complete discretion award Variable
Compensation Awards which are based on individual performance and NAME’s overall performanceand profitability. Such awards do not form part of an individual’s contractual remuneration. The sizeof the bonus pool is linked to the overall performance of the Firm. When considering individualperformance, NAME has reference to both financial and non-financial factors. To enhance alignment
with client asset performance and long-term sustainability, the Firm also operates a long-term
incentive plan and other business-specific revenue sharing schemes linked to asset performance andoverall profitability of the Firm, which operate as an informal deferral strategy (together “VariableCompensation Awards”).
Guaranteed Compensation Awards
The Firm will only award a Guaranteed Compensation Award in the first year of employment and onlyin exceptional circumstances. Guaranteed Compensation Awards are only to be used as a recruitment
tool to attract talent into the business.
During the year ending 31 March 2024 and pursuant to MIFIDPRU 8.6.8R (5)(a), we confirm that no
Guaranteed Compensation Awards were awarded to Senior Managers or Material Risk Takers.
Severance payments

1as per FCA guidance in SYSC 19G.1.24G / MIFIDPRU 8.6.2(1)30 July 2024 – APPROVED – CONFIDENTIAL AND LEGALLY PRIVILEGED
Any severance payments shall reflect an individual’s performance over time and not reward failure ormisconduct. The Firm will take into account factors such as performance, role, seniority and its capital
position at the time.
During the year ending 31 March 2024 and pursuant to MIFIDPRU 8.6.8R (5)(b), we confirm that there
were three severance payments awarded totalling £596,500. In respect of the Firm’s obligation todisclose details about severance payments pursuant to MIFIDPRU 8.6.8R (5)(b) and (c), the Firm relieson the regulatory exemption detailed in MIFIDPRU 8.6.8R(7)(a) which prevents such a disclosure in
circumstances where it would lead to the identification of an individual.
Malus and Clawback
NAME operates an appropriate malus and clawback policy (which forms part of the RemunerationPolicy) which may be applied to any Variable Compensation Awards. The Firm will have reference toSYSC 19G and any relevant FCA guidance when implementing the malus and clawback policy.
Material Risk Takers
The Firm has 27 Material Risk Takers (staff members whose professional activities have a material
impact on the risk profile of the Firm or of the assets that the Firm manages) 2. This classification isreviewed annually by the Firm.
GovernanceThe board of NAME has appointed an advisory committee to review and monitor adherence to theRemuneration Policy. The Remuneration Policy is subject to annual review.
Qualitative disclosures
For the financial year to 31 March 2024, the total amount of remuneration awarded to all staff wasapprox. £18.9 million, of which £12 million comprised Fixed Remuneration and £6.9 million comprised
Variable Compensation Awards.
For the year ending 31 March 2024

Fixed Remuneration
VariableCompensationAwardsTOTAL

2All Staff££12,013,313.23£6,911,530.09

Senior Management (6)££1,584,692.93£880,994.09

Material Risk Takers (21)£
£4,427,467£4,412,082£18,924,843.32£2,465,687.02£8,839,549

This figure includes Senior Managers and other Material Risk Takers.