Bold aboutdifference.

Pay gap report
October 2023

Brave aboutchange.

Our commitment to diversity,
equity and inclusion
We believe in putting people first: for
who they are and everything they bring.
Supporting them with all they need forequal opportunity.
We believe that embracing difference
should be core within business andcommunities to create a better working
environment, relationships and outcomes.
Publishing our Pay Gap Report is afundamental part of our Diversity, Equityand Inclusion strategy, to continue tounderstand the issues and identify thefocus areas we need to address.

2Foreword
Two years ago we started voluntarily
publishing our pay report as part ofour ongoing commitment to greatertransparency with our people, ourclients, and our wider communities.

Now in the third year of publishing our pay
report, we believe that being open about
where we need to make changes is a key
part of holding ourselves accountable andplacing a spotlight on areas where change
is necessary.

This year, we’ve run our bi-annual DEI
survey which has given us valuable insight
into the experiences of different underrepresented groups at Ogier and some key
actions we can use to measure the impact
on our people.

Improving the diversity of our leadershipis a long-term process that is determinedby our culture. One of the ways weare investing in our culture is throughexpanding our expertise as the businessgrows. Our HR department has grown
to include a Reward and Employee Value
Proposition team who are reviewing what
is important to our people and how we canimprove life at Ogier.

It’s encouraging that the value of diverse
teams, the importance of equitable
opportunities and the impact of inclusive
practices is front of mind for management
across the business. The extent to which
we all challenge each other and challenge
our ways of working will accelerate theprogress we make.

We’re also encouraged by the number ofpeople who have voluntarily added theirethnicity, sexuality, disability and socioeconomic background information to ourHR system so that we may include thesegroups as a lens alongside gender in future
pay reports and action plans.

Edward Mackereth
Global managing partner andsponsor of Ogier’s Diversity,
Equity and Inclusion initiative

3

Key diversity, equity andinclusion milestones fromthe past year

As we relaunched our website ogier.com in 2023 we increased
accessibility to the site. Within Ogier, we have introduced voicerecognition software which can be useful for a number of disabilities.

We have started to collect data relating to protected characteristics
other than gender so that we can develop tailored action plans forunder-represented groups at Ogier.

We ran our third DEI survey
with employees, the actions
from which have included amentoring programme andleadership development.

4Key findings from our2023 pay gap report

There has been an incremental
closure of the gender pay gap
at Ogier year on year. The meanhourly pay gap has reduced by 1%
and the median by 6%. However,there has been a 8% increase in
the mean FTE bonus gap.
Our mean combined compensationgap (including equity partners) has
reduced by 5% this year and our
median gap has reduced by 6%.
The proportion of women in theupper middle pay quartile has
increased by 3% and the pay gap
for this quartile has reduced by 5%.

We are working hard to remedy
inequalities identified in this report
including ensuring that all bonus
allocations are scrutinised andgiven due consideration against
all performance information ina series of reviews by different
individuals going forward.
We are prioritising the development
of best practice guidance to ensurethat wherever possible shortlists
and interview panels are diverse
and include individuals fromunderrepresented groups.

5Understanding
our pay gap report
The pay gap is the difference
between the average earningsof men and the average earnings
of women.
These figures do not relate to equal pay(men and women being paid equally inthe same roles conducting equal work).
We monitor our reward practices and are
confident that due to our rigorous review
process we pay our people fairly for thesame roles. Where pronounced
pay gaps exist, they reflect the makeup of our workforce, with fewer womenin the most senior positions and amuch higher proportion of women in
administrative roles.
There is a difference in the salary bandingof different jurisdictions for the same role,
reflective of the local market and we havenot made any adjustments for including
all salaries in this global report.
Negative pay gap (-%): A negative
percentage figure indicates a pay gap infavour of women.

Mean: The difference between the mean
(average) pay for men and the mean payfor women.
Median: The difference between the‘middle’ rate of pay for men and the‘middle’ rate of pay for women, when FTE
pay is in numerical order.
While there is no legal obligation for
Ogier to report, we’ve adopted the same
reporting structure as in previous years,
which follows the legislative requirementsin the UK. As well as breaking down thepay gap by role, we use the full-time
equivalent (FTE) so we are not comparing
the bonus of a part-time employee whojoined mid-year with a full-time employee
whose bonus is for the full year. We
also publish data on our equity partnercomposition and pay gap.
This is a gender pay gap report. As ourcommitment to greater transparency
continues, we are gathering further data
to report on other underrepresented
groups in the future.

62023 pay gap data
Our employee pay data

Difference between the mean hourly pay ofmen and women

27%

Difference between the median hourly pay ofmen and women

32%

Difference between mean FTE* bonus of menand women

45%

Difference between median FTE bonus of men
and women

36%

The proportion of bonus eligible men and women who were paid a bonus for FY 21/22: Men: 87% Women: 84%
FTE (full-time equivalent)*

Employee hourly
pay gaps by role

Legal (associate - counsel)

55%

45%
83%

Legal (non-qualified)Senior Ogier Global

54%

Business Services

17%
46%74%

Ogier Global
Senior Business Services

3%

53%

26%
47%

69%
Female proportion

31%
Male proportion| 6%-10% | -17%
9%

| 10%

5%

| 0%

14%

| 5%-2%| 2%

Mean | Median72023 pay gap data
Employee hourly
pay gap quartiles

LowerLower middle

26%

30%-1%

Upper

38%

1%
74%

Upper middle

7%70%Female proportion

51%

11%

49%

62%

Male proportion8

Year-on-year comparison
Pay and bonus gaps

Mean2022

2023

2022

2023

Hourly pay of men and women

28%

27%

38%

32%

FTE bonus of men and women

37%

45%

36%36%

There has been an incremental closure of the pay gap
year on year. The mean hourly pay gap has reduced by
1% and the median by 6%. However, there has been a
8% increase in the mean FTE bonus gap. We will ensurethat all bonus allocations are scrutinised and given due

Proportion of eligible
employees receiving a bonus

Median2022

2023

consideration against all performance information in aseries of reviews by different individuals going forward.
Our DEI Manager will also be directly involved in thisprocess.

ChangeMen

94%

87%

-7%

Women

96%84%-12%

In 2023, there was a reduction overall in bonus awards andproportionally more men received a bonus than women, whereas
in 2022, proportionally more women received a bonus than men.

9Year-on-year comparison
Employee hourly
pay gaps by role

Proportion of women

MeanMedian2022

2023

Change2022

2023

Change2022

2023

ChangeLegal (associate – counsel)

56%

55%

-1%

0%

3%

3%

-5%

6%

11%

Legal (non-qualified)

83%

83%

0%

-10%

-10%

0%

-4%

-17%

-13%

Senior Ogier Global

53%

54%

1%

6%

9%

3%

2%

10%

8%

Ogier Global

71%

74%

3%

4%

5%

1%

7%

0%-7%

Senior Business Services

47%

53%

6%

12%

14%

2%

10%

5%-5%

Business Services

72%

69%-3%-5%

-2%

3%

0%

2%

2%

10

Year-on-year comparison
Employee hourly
pay gaps by role

For Legal non-qualified andBusiness Services, there is still
a pay gap in favour of women.
However, there is a pay gap infavour of men for Legal associate– counsel, Senior Ogier Global,
Ogier Global, and Senior BusinessServices.
Legal (associate-counsel) Thereis now a mean pay gap of 3%
and a median gap of 6%. This isa result of more senior male hires
in this group than female. We areprioritising the development ofbest practice guidance to ensurethat shortlists and interview panels
are diverse and include individuals
from underrepresented groups
wherever possible. This will beapplied across all business areas.

Legal (non-qualified), which
includes paralegals, trainees, andarticled clerks, retains an overall
pay gap in favour of women due
to the jurisdictional pay difference
and higher number of women.
Senior Ogier Global represents
all roles from senior manager todirector within Ogier’s corporate
and fiduciary administration
business, where the mean pay
gap has increased by 3% and the
median gap by 8%. 62% of oursenior manager population arefemale so there are more womenthan men in the lower pay bands
for this group. 42% of our OGL
director hires have been female.

Senior Business Services which
include all roles from senior
manager to directors, has
increased its proportion of women
by 6%. The hourly pay gap has
increased by 2% and the median
pay gap has reduced by 5%. Allpromotions in this area of thebusiness have been female.
Business Services which includes
all roles below senior manager
shows the gender split is becoming
more balanced with an increaseof 3% in its male headcount and a
3% reduction in the mean hourly
pay gap that favours women.

Ogier Global which represents allroles below senior manager, hasseen a 1% increase in the meanhourly pay gap however there is nolonger a median pay gap.

11

Year-on-year comparison
Employee hourly
pay gap quartiles

Women %Men %Quartiles

2022

2023

Change2022

2023

Change2022

2023

ChangeLower

74%75%

1%

26%

25%

-1%

-1%

0%

1%

Lower Middle

70%

67%

-3%

30%

33%

3%

1%

0%

-1%

Upper Middle

62%

65%

3%

38%

35%

-3%

7%

2%

-5%

Upper

49%

47%

-2%

51%

53%

2%

11%

11%

0%

The proportion of women in the upper middle pay
quartile has increased by 3% and the pay gap for thisquartile has reduced by 5%. This is because of the steps
we are taking to address the gender split in senior roles

Combined compensation gap(employees and partners)

Mean Gap

2022

2023

Change

Mean

53%

49%

-5%

Median39%33%-6%

and the progression of women within the business.
Over time, we will see this impact on the upper pay
quartile too.

As mentioned above, our partners receive a share of the firm’s
profits and the most accurate way for us to compare the pay
gaps when including partners is to look at the total annual
earnings of partners and the combined annual FTE (full-timeequivalent) salary and FTE bonus of our employees. Our mean
combined compensation gap has reduced by 5% this year andour median combined compensation gap has reduced by 6%.

12Diversity action plan
We continue to track ahead of our 2025 milestone of 30%
female leadership by 2025 as 34% of our leaders are female.
We define leadership as Partners, Ogier Global Directors, andBusiness Services Directors as this group has the most influence
over the employment, development, and progression of ourpeople. Our 2030 milestone is to reach 40% female, 40% maleand 20% either female, male or non-binary leaders.

Some of our key actions and priorities this year include:
Accessibility enhancements: We’ve added the accessibility
widget Userway to our website ogier.com. This gives users a
range of tools to improve their online experience including useof a screen reader, changing font size and style, highlighting
links, pausing animations and translating our website
into more than 40 languages. As part of our efforts tochampion an environment in which all people have equitable
opportunities, we have introduced a legal dictation software
as a reasonable adjustment. Voice recognition can be helpful
for a number of disabilities including visual impairments,
motor skill differences, cerebral palsy and neurodivergencessuch as dyslexia and dyspraxia.

Gathering data: We have started gathering ethnicity,disability, sexual orientation and socio-economic backgrounddata so that we can develop tailored action plans for underrepresented groups at Ogier. This will allow us to track andmeasure the progress we make for improving attraction,retention and progression for under-represented groups.
When we have enough data to do so, we will expand ourmilestones and our pay report.
Seeking feedback: We ran our third DEI survey this summerto help measure our progress and establish our areas of focus.
Actions from the survey include formalising a mentoring
programme and some development sessions with theleadership population.

Employee Networks: Over the past 12 months weestablished three new employee networks - Race andEthnicity, LGBTQ+ and Allies and the Diversability networks- joining our Gender Equality and Families networks. The
purposes of these networks is to build a sense of community,
share experiences, arrange events, raise awareness andadvocate for change. We look forward to seeing thesenetworks grow and hope in time the list of different
community networks at Ogier will reflect the wealth ofdiverse groups that make us who we are.

13

Brave aboutchange.

Bold about
difference.