OUR GENDER PAYGAP REPORT
Keywords International Ltd. (Dublin Studio)
December 2022

© 2022 Keywords Studios PLC – Confidential

Our Gender Pay Gap - Overview
This report covers the 2021-2022 reporting cycle, using a snapshot date of 30th June 2022. This is Keywords
International’s (Ireland) first gender pay gap analysis. Keywords Studios Ireland consists of three separate
entities: Keywords International Limited, Keywords Studios Limited & Xcelerator Machine Translations Limited.
Of these, Keywords International is at present the only entity with an employee base of 250+ and it is importantto note that this report pertains to data for this branch of the business only (with our remaining Irish entities
each employing less than 30 people respectively on the snapshot date).

Important Note:
oIt is possible to have a gender pay
gap & still pay men and womenequally. At Keywords we are fully
confident that our employees arepaid equally for equal work.

oGender pay gap reporting, as distinct
from Equal Pay, reflects thedifference in the average hourly rateof pay between men and women in
the organization, regardless of theirseniority or role.

oThe mean gender pay gap isestablished by adding the rate of pay
for each gender and dividing it by thenumber of employees with the pay
gap being reported as a percentage.

oThe median gender pay is calculatedby ranking the hourly pay rate bygender from lowest to highest, withthe middle number being taken forboth and the difference calculated.

Keywords International Dublin primarily provides testing and localization services in up to 50 languages to arange of blue-chips clients in the gaming industry globally. Our Dublin studio also employs IT, Marketing andHR Admin support employees.

Encouraging more females1 to pursue a career in the gaming sector has traditionally been a challenge and ourexperience in this is in line with industry norms. We are pleased, however, to report that our current overallmean and median gender pay gap stands at 2.8% (against an EU average of 13%) with the overall
representation between male and female employees standing at a ratio of 56:44. We are on the right trajectory,
acting to address our gap through the continuation of wider policies and activities that are fair, inclusive, andequitable to all and this will remain a core component of the culture we are continuing to build at Keywords.
On the snapshot date, Keywords International employed a total of 274
employees of which 150 are male and 120 female. 4 employees stated theirgender as non-binary or did not disclose this information. This report is therefore
an analysis of the data for 270 people in total.

1 Here we refer to sex, as opposed to gender, as the Gender Pay Gap Information Act 2021 (based on

Ireland’s Employment Equality Acts 1998 to 2021) stipulates that gender pay gap metrics are to becalculated based on male and female categorization.
© 2022 Keywords Studios PLC – Confidential

Overview continued
From June 2022, the Gender Pay Gap Information Act 2021 requiresorganisations in Ireland to report on their hourly gender pay gap across a
range of metrics, falling broadly into the below reporting requirements:•The mean and median pay gap in hourly pay
between male and female employees•

The percentage of male and female employees
who received bonus pay•

The mean and median pay gap in hourly pay
between part-time male and female employees•

The percentage of male and female employees
who received benefit in kind•

The mean and median pay gap in hourly pay
between temporary male and female employees•

The percentage of male and female employees
in each of four pay band quartiles•

The mean and median bonus pay gap between
male and female employees

The below data is an analysis of the required data in detail© 2022 Keywords Studios PLC – Confidential

We welcome annual
gender pay gap reportingas an opportunity to track
the success of our HR &Culture strategies andidentify opportunities forimprovement in our aim tocontinue to foster adiverse and inclusive
workforce. We use thegender pay gap analysis
process to explore
whether there are genderimbalances in certain
roles or levels;
differences indevelopment andpromotion trajectories;
differences in high paidvs low paid roles; anddifferences in salaries andbenefits. We then designinterventions to tackle
these differences.

Our Overall Pay Gap at a Glance
As mentioned above, the gaming sector has traditionally attracted a predominantly maleworkforce2 and the pay distribution variance as we progress through the quartiles isevidence of this, with a greater representation of males in mid-senior leadership roles,
which generally command a higher salary. Those in the upper quartiles will typically also
be quite tenured employees and are representative of those who have progressed throughthe ranks and/or have received incremental pay increases at a time when females wereattracted to the industry in lesser numbers. The gender representation ratio overall atKeywords Dublin on the snapshot date of 30th June 2022 was 56:44 in favour of males.
By comparison, in mid-2017, our ratio was 63:37 in favour of males, evidence that the dialis moving towards greater gender parity. Notwithstanding, this will take some time toreflect in our pay quartiles, as we work to attract and - equally importantly - retain anddevelop more female employees. Similarly, the bonus gap of 10% is reflective of thehigher proportion of males occupying higher level roles, which carry a bonus element to
the overall package. Health Insurance is the main benefit that incurs benefit-in-kind (BIK)and the gap here is 2%. Health insurance is a voluntary benefit and the uptake generally
in the company, is relatively low, largely driven by demographics (a combination of agerelated factors and a work population consisting of a large proportion of transientemployees).
22020 European Video Games Industry Insights Report - https://www.egdf.eu/wp-content/uploads/2022/09/ISFE_EGDF-report2022_V08-

05092022_45FIXED.pdf© 2022 Keywords Studios PLC – Confidential

Gender Distribution Per Pay Quartile

Pay Gap (Mean)

Our Overall
Pay Gap at aGlance

2.8%Lower
Quartile

51%

49%

Lower Middle
Quartile

Upper Middle
Quartile

53%

56%

47%

44%

Upper
Quartile

62%

38%

Bonus
Bonus Gap (Mean)

Pay Gap (Median)

10%

2.8%

Bonus Gap (Median)

0%48% of females
received bonus pay

53% of males
received bonus pay

Benefits in kind

11% of females
received any typeof benefits in kind

13% of males
received any typeof benefits in kind

Total Gender Distribution

44%
556%
© 2022 Keywords Studios PLC – Confidential

Our Full-Time Employee Pay Gap
Our Full-Time employee pay gap indicates both a mean and a median
pay gap of 4.6% & 4.5% respectively, and a total gender distribution
ratio of 56:44 in favour of males. Here the legacy issues are more
prominent in the variance between the quartiles, given our full-time
employees tend to be amongst our most tenured, with similar trends inthe bonus and BIK gaps in evidence for the same reasons© 2022 Keywords Studios PLC – Confidential

Gender Distribution Per Pay Quartile

Pay Gap (Mean)

Our FullTime Pay
Gap at aglance​

4.6%LowerQuartile

49%

51%

Lower MiddleQuartile

Upper Middle
Quartile

51%

69%

49%

31%

Upper
Quartile

57%

43%

Bonus
Bonus Gap (Mean)

Pay Gap (Median)

19%

4.5%

Bonus Gap (Median)

41%

58% of females
received bonus pay

65% of males
received bonus pay

Benefits in kind

13% of females
received any typeof benefits in kind

16% of males
received any typeof benefits in kind

Total Gender Distribution

44%
756%
© 2022 Keywords Studios PLC – Confidential

Our Temporary Employee Pay Gap
In this employee category, the pay gap switches to negative, with a 29.5% mean and a -17.5% pay gap – the negative pay gap indicating
that, on average female’s gross annual hourly earnings in this category
are higher than her male counterparts. This data represents a very small
portion of the workforce – just 11 people, comprising 6 males and 5females. The gap is representative of a small number of females who, on
the snapshot date, happened to occupy more senior roles, which
command a higher salary. There are justifiable reasons for the temporary
nature of these roles, and we consider this data set to be atypicalhowever we will continue to closely monitor this category to ensure
fairness and equity.

© 2022 Keywords Studios PLC – Confidential

Gender Distribution Per Pay Quartile

Pay Gap (Mean)

Our
Temporary
Pay Gap at aglance​-29.5%

Lower
Quartile

100%

n/a

Lower Middle
Quartile

Upper Middle
Quartile

0%

33%

100%

67%

Upper
Quartile

67%

33%

Bonus
Bonus Gap (Mean)

Pay Gap (Median)17%-17.5%

Bonus Gap (Median)

16%

100% of females
received bonus pay

50% of males
received bonus pay

Benefits in kind

20% of females
received any typeof benefits in kind

33% of males
received any typeof benefits in kind

Total Gender Distribution

45%
955%
© 2022 Keywords Studios PLC – Confidential

Our Part-Time Employee Pay Gap
Again, in this category, our pay gap is in favour of females: at -4% mean and -1%
median respectively. This group comprises a total of 64 employees, of which 34 aremale and 30 female. The significant bonus gap indicates that this category isrepresentative of a larger proportion of females occupying management roles (sincebonus payments are restricted to management level roles in the main), and we view
this as a positive in terms of equal opportunity.

It is important to note that not all are on part-time contracts per se but for the purposes ofreporting we have categorized them as such. The reason for this is that the nature of ourbusiness in Dublin requires a constant supply of “casual” workers amongst our Tester
population due to lot of project-based work. This cohort do not work full-time but are available
to work on projects as they arise. To establish how to classify our “casual” workforce for thepurposes of reporting, we have taken the decision to treat a casual worker who works 20hours
per week or less, as a Part-Time employee in line with the Department of Enterprise, Trade &Employment’s categorization of a Part-Time employee with a Stamp 2 Visa.

© 2022 Keywords Studios PLC – Confidential

Gender Distribution Per Pay Quartile

Pay Gap (Mean)

Our Part-Time
Pay Gap at aglance

-4%

Lower
Quartile

50%

50%

Lower Middle
Quartile

Upper Middle
Quartile

67%

45%

33%

55%

Upper
Quartile

45%

55%

Bonus
Bonus Gap (Mean)

Pay Gap (Median)-586%-1%

Bonus Gap (Median)-50%

10% of females
received bonus pay

12% of males
received bonus pay

Benefits in kind

3% of females
received any typeof benefits in kind

0% of males
received any typeof benefits in kind

Total Gender Distribution

47%
1153%
© 2022 Keywords Studios PLC – Confidential

General Equality Initiatives & Action Plans
Title
As an employer we truly believe that having a diverse workforce is key to our success as a business and we are fully committed to continually fostering an evermore diverse and gender-balanced organisation. Our culture has been shaped by the rollout of meaningful initiatives in recent years such as ‘Unconscious Bias’
training for our Global Recruitment and HR Teams in 2019, the establishment of an internal Global Diversity and Inclusion Council in 2020, Keywords’ ongoing
partnership with the Women in Games Ambassador programme, as well as the appointment of our European Manager for Diversity & Inclusion in early 2021 whois making great strides in driving the diversity, inclusion and belonging agenda forward.
We are an equal opportunity employer, and our commitment to achieving balanced gender representation, and to DEIB more broadly will continue to be a focus.
With regards to the Ireland Gender Pay Gap we have identified three key areas for action over the coming year:

Equality Data: We are currently building our diversity
and inclusion data collection and analysis processes at
Keywords. To advance our DEIB objectives during
2023–2025 we will establish DEIB metrics andundertake a centralized Group DEIB agenda, withtargeted initiatives in Ireland. This includes metrics for
aspects of talent acquisition and talent development
which will provide insight into what factors are causing
our Gender Pay Gap. We will use this information to
design interventions to increase the proportion offemales in our workforce and increase the proportionof females occupying higher level roles.

Talent Acquisition & Development: We are working to

Learning & Development: We will expand ourenhance our attractiveness as an employer and in our intake ofdelivery of Dignity at Work training to all employees at

new employees through a range of strategic initiatives that

all levels to fully ingrain the principles of DEIB into ourprioritise professional development and internal mobility.

Weoverall culture​ and will continue our work in developingGames

our management pipeline to ensure greater balance

haverenewed

oursponsorshipofWomeninAmbassador program to this end. We will undertake a review ofour job descriptions with the aim of increased diversity in ourcandidate pool and will deliver inclusive recruitment training forour recruiters to consolidate previous learnings in unconscious
bias tools. We will also monitor closely our gender data in
relation to those leaving our employment with our renewed exit
interview process, as well as internal promotion statistics toaddress inequities in assessment and selection processes.

© 2022 Keywords Studios PLC – Confidentialand diversity.