Pension Statement of Investment Principles

This is the Statement of Investment Principles prepared by the Trustees of the Pension Plan of Seiko U.K. Limited (the Plan), as prepared by the Trustees of the Plan (“the Trustees”). This statement sets down the principles which govern the decisions about investments that enable the Plan to meet the requirements of:

-the Pensions Act 1995, as amended by the Pensions Act 2004; and

-the Occupational Pension Schemes (Investment) Regulations 2005 as amended by the Occupational Pension Schemes (Investment) (Amendment) Regulations 2010;

- the Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018; and

- the Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019.

In preparing this statement the Trustees have consulted Seiko U.K. Limited, the Principal Employer, and obtained advice from Barnett Waddingham LLP, the Trustees’ investment consultants. Barnett Waddingham LLP is authorised and regulated by the Financial Conduct Authority.

This statement has been prepared with regard to the 2001 Myners review of institutional investment (including subsequent updates), and Scheme Funding legislation.

The Trustees will review this statement at least every three years or if there is a significant change in any of the areas covered by the statement.

The investment powers of the Trustees are set out in Clause 4 of the Trust Deed & Rules, dated 20 September 2007. This statement is consistent with those powers.