Inter. Pers. Regulatory News (IPF)

20 October 2023

International Personal Finance plc

("IPF" or the "Company")

Update on Annual General Meeting 2023 Vote

At the Company's AGM on 27 April 2023, the Board and Remuneration Committee was pleased to note the very strong support given by shareholders to the 2023 Remuneration Policy - with 99.33% of votes in favour. Notwithstanding this strong support, we recognise that 77.05% of votes were received in favour of Resolution 2, the advisory vote to approve the directors' Remuneration Report (excluding the Directors' Remuneration Policy). The Remuneration Report is set out in pages 95 to 118 of the Annual Report and Financial Statements 2022.

Therefore, and in accordance with the provisions of the UK Corporate Governance Code, the Company is pleased to provide an update, explaining how it has communicated with shareholders about this matter.

Since the AGM, the Chair of the Remuneration Committee (the "Committee") has written to the Company's top ten shareholders to provide further clarification on the more contentious areas, in particular the discretion applied by the Committee to arrive at the 2022 bonus outcome. A meeting was also offered with the Chair of the Committee and IPF's Head of Reward to enter into dialogue with shareholders to invite comment and feedback.

The Company would like to express thanks to all shareholders who made the time either to meet with us to discuss their views or to provide written feedback.

The Committee and the Board recognise that the use of upward discretion in this way will always raise concerns, but we would emphasise that the decisions made reflect the Committee's and the Board's view regarding the underlying performance of the Company. Therefore, having reflected on the feedback and support of the majority of shareholders, the Committee is satisfied that it acted in the best interests of the Company and all of its stakeholders. The Committee will continue to maintain a regular dialogue with shareholders to ensure continued alignment with their interests and will continue to action the matters detailed in the Remuneration Policy approved at the last AGM.

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Legal Entity Identifier: 213800II1O44IRKUZB5