Gender Pay
Gap Report2020

Nomura recognises the value of an inclusive workforce
At Nomura, we are committed to building a more
inclusive and diverse work environment, one whichreflects the diverse communities in which we operate
and where our people have the ability to realise their fullpotential.
Today we publish our gender pay gap data for 20192020 and while we are seeing some progress, we arevery conscious that it is not happening at the pace wewould like.
We understand that it’s not enough to just champion
diversity in order to achieve our diversity goals. We alsoneed to make sure that we have an inclusive culture andhave launched a number of direct measures to improve
this across the organisation. These initiatives will be
critical in delivering a successful diversity, equity andinclusion strategy.
Over the last six months, we have introduced anumber of intentional actions that will help transform
our approach to all aspects of diversity, equity andinclusion, ensuring that we meet the expectations of ouremployees and clients.
Some of these measures and initiatives include:Launch of the DEI Executive Forum;

Revamped Diversity, Equity and Inclusion strategy;Launch of Inclusion Sponsors Programme;

Launch of Inclusion Recognition Programme;

Nomura International plc

Establishing a Diversity, Equity and Inclusion Working
Group led by our COO;

Prior to any hiring decision, detailing actions taken toidentify women candidates;

What is the gender pay gap
and what is equal pay?

Diverse hires at senior level by mapping open roles
to ensure that women candidates are included inshortlists;

Mandatory Inclusive Leadership training for all seniormanagement;

It is important to understand the difference
between the gender pay gap and equal pay
as they are very different concepts.

Continuing to target 50% women representation
across our intern and graduate intake;

Another critical element of building a more diverse andinclusive organisation is having a better understanding of
the diverse backgrounds and identities of our colleagues.
At Nomura we are investing in capturing and analysing
this data, so that we are better equipped to provide thesupport and structure people need to succeed.
Change will take time, but the senior management andI, working together with you, will continue to incorporate
inclusion into our culture, which will in turn lead to anincrease in the overall gender diversity and representation
across our organisation.

Equal pay is about ensuring men andwomen are paid the same for work of equalvalue. The equal pay principle, set out inthe Equality Act 2010, says that men andwomen performing equal work must receive
equal pay, unless there is a material reason
that justifies a difference.
The gender pay gap is a measure of thedifference between the average earnings ofmen and the average earnings of womenacross an organisation, as a percentage
proportion of the average male earnings.

Jonathan Lewis
Group CAO and NEHS CEO1

Gender Pay Gap Report 2020

Our gender pay gap data
Our workforce

Pay quartiles
How many men and women are in each quarter of the employer’s
payroll:

70.0% men

44.8 %men

women 30.0%

Lower quartile

68.9 %men

Pay and bonus gap
Our hourly gender pay gap is:

34.0% onhourlya medianbasis

on a meanhourly basis

49.6%

The figures show our overall median and mean gender pay gap based on hourly
rates of pay as at 5 April, 2020.

Our median and mean bonus gap is:

58.3% medianYoY change: +4.3%

79.0 %men

21.0 %women

Upper middle quartile

YoY change: -1.8%

87.4 %men

12.6 %women

YoY change: +1.9%

Our methodology

The proportion of men and women receiving a bonus:

women 81.9%

The gender pay figures shown and the associated analysis are in respect ofNomura International plc. The reportable figures have been calculated in line withthe approach and methodology set out under the gender pay reporting regulations
and reflect UK employees only. We have not included Nomura Asset Managementor Instinet as these companies have less than 250 employees.

Equal pay: Aaron and Georgina are both VPs in the Global Markets division. Georgina overhears Aaron commenting
on his year end compensation and learns that he is paid more than she is. This goes against the principles under theEquality Act 2010 as individuals/groups of workers performing the same or comparable work.
Gender pay gap: As the gender pay gap looks at the broader difference, irrespective of rank or seniority, it captures
any differences in pay between men and women on a much broader level. So for an organisation heavily dominated bymen in senior roles and women in junior roles, there will be a wider gender pay gap.

Nomura International plc

31.1 %women

The figures above reflect the percentage of men and women in four quartile pay
bands, by dividing our workforce into four equal parts.

These figures show the median and mean difference between bonuses paid to men
and women in the 12 months to 5 April, 2020.

84.2% menYoY change: +3.6%

Lower middle quartile

Top quartile

mean 75.0%

55.2 %women

2Gender Pay Gap Report 2020

Our journey to closing the gap on gender diversity
Here are a number of key initiatives that we have introduced at different stages in the employee journey to increase representation of
women across our businesses.
Recruit:‘Market mapping’ open roles to ensure womentalent pool is fully reflected in all candidate lists

Engaging specialist search firms to source womencandidates to include on shortlists for any openroles

Retain:

Invested in inclusive leadership training for senior
managers which focuses on workplace culture andhow, as leaders, they can improve engagement

Launched an Inclusion Sponsors Programme,
through a coalition of our employee Inclusion
Networks, which consists of a cross divisional groupof senior leaders working together to help foster an
inclusive culture at Nomura

Prior to hire approval, provide details on actions
taken to identify women candidates and reason for
final candidateContinue to target 50% women representation inintern and full-time graduate class numbers



Inclusive Recruitment training for all hiring
managers delivered by diversity, equity andinclusion specialists Pearn KandolaNomura International plc

Promote:Continued investment in our women’s development
programmes, including VP Mentoring programmethrough the 30% Club and a new mentoring
programme for womenContinued investment in our Parental Transitions
support and coaching including mandatory training
for line managers, along with 1:1 coaching for senior
women and shared parental leave.

Introduction of Inclusion Recognition Programme
which aims to actively engage employees in our new
diversity, equity and inclusion strategy and influence
behaviours and mind-sets3

Ensuring there is a representation of women on all ofour advancement review committees

Providing all committee members with unconscious
bias information

Establishing opportunities to recognize current
promotion candidates and to demystify the promotion
process for future candidatesContinued focus on review of gender-related stats for
women who are eligible for advancement at all levels
to ensure fair and equitable measures are applied topromotion processFocus on events related to career management tosupport employees in areas such as development
and advancementGender Pay Gap Report 2020

Strengthening diversity, equity and inclusion
Our employee Inclusion Networks are designed to help
build relationships, share ideas, contribute to careerdevelopment and progression, and foster inclusion,
equity and diversity from the ground up.
We also work with a number of external partners tomake our workplace as diverse, inclusive and as open
as possible.
Our partners are:

Nomura International plc

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Gender Pay Gap Report 2020

Nomura International plc
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