GENDER PAY GAP REPORT2024

The gender pay gap measure is an indicator which helps us to focus our efforts
to create a team that reflects the diversity of our artist roster, and of broader
society. We value – and continually work to advance – diversity, equity,inclusion and belonging.
As of April 2023, Universal Music’s mean paygap remained flat at 25.9% (compared with25.6% in April 2022 and 31% in 2021). We madereal progress in 2022 which was maintainedin 2023 including increasing the overall
number of women in the business from 43%
to 45%, providing development and coachingsupport for senior women promoted tolead business units and achieving a genderbalanced pipeline of junior talent. However,
we have made less progress in the numberof females represented in the Upper Middle
Quartile and Upper Quartile.

Gender pay vs Equal pay
The gender pay gap, which is an issue every
industry faces, is driven by there being fewer
women than men holding senior roles at anorganisation, not – crucially – by unequalpay. Indeed an impartial equal pay reviewof our UK businesses conducted by athird-party expert made clear that we do
not have systemic pay inequalities – in otherwords, women and men at Universal Music
are not paid differently for the same work.

The reality is that our pay gap is likely to remain flat until such time that more females progress
into the upper middle and upper quartiles, and this must continue to be a priority area.

DRIVING PROGRESS
We believe the best way to flourish in our ever-changing industry is to create a team that
truly reflects the incredible diversity of our artist roster and society. We’re committed
to creating an inclusive culture where everyone can freely express themselves and bringsomething unique to our creative journey and our shared passion for music.

Our diversity sets the stage for the creativity, collaboration and innovation that make ourartists successful. A place where everyone is seen and our contributions are supported,valued, respected, actioned and appreciated.
We have continued to embed the actions taken in 2022 to increase the number of womenin teams where they are under-represented and have moved further forward with changes
to our benefits, which we believe will create long term, meaningful impact.
During the next 12 months, we will seek to complete three main actions:
Training for hiring managers
Although we have a balanced pipeline of talent for entry and emerging level roles,
this is not fully reflected at the upper middle and upper quartiles. Recent efforts haveincluded the introduction of balanced shortlists and interview panels at Director leveland above. In addition, we will be introducing ‘Inclusive Interviewing’ as part of a newsuite of mandatory diversity, equity, inclusion and belonging training for employees andmanagers. This is currently in pilot stage with plans for a full launch from January 2025.
Sponsorship
Based on feedback gathered from senior females over a five-month period, there was aclear desire for more connection across business units. For International Women’s Day
2024, 164 people from across our business were able to make new connections that wehope, in time, will provide support both professionally and personally. We will build on
this theme of empowering valuable connections and support following collation of thefeedback from senior female leaders in 2022 and 2023.
Improving exit interview process and data
We are building better and more consistent systems for capturing the feedback andexperiences of people who do leave the business. By improving this process we canact on any relevant data in a timely manner.

OUR PAY GAP FIGURES
Legislation introduced in April 2017 requires
all employers of 250 or more employees topublish their gender pay gap – for this year
as of 5th April 2023.
Gender Pay Gap

Employees
Male55%

Female45%*in favour of men

Proportion Receiving a BonusMeanPay Gap

25.9%*

Bonus Gap

56.1%*

80%
78%

MaleFemale

MedianPay Gap

24.4%*

Bonus Gap

53.9%*
Pay Bands by Gender

Mean vs MedianUpperThe MEAN gender pay gap is the difference
between average male pay and average female
pay. It is calculated by adding the wages of all
employees then dividing it by the number ofemployees. The calculation method means afew highly paid people can have a significant
impact on the figure.
The MEDIAN is the middle figure in thesequence of salaries from smallest to largest.
It compares the middle male earner in theorganisation to the middle female earner.

31%

69%
Upper Middle

41%

59%
Lower Middle

51%

49%
Lower

56%

44%

FemaleMale

DECLARATION
I can confirm that the above information anddata reported are accurate.

Peter Wheeldon

SVP, People, Inclusion & Culture
Universal Music Group

Andrea Pattico

Chief People, Inclusion & Culture Officer
Universal Music UK