Picton Property Income Limited Annual Report 2023

Leadership and Purpose/Continued

Section 172 Statement

As the Company is registered in Guernsey, the UK Companies Act 2006 has no legal effect. However, in accordance with the UK Corporate Governance Code 2018 and as a matter of good governance, the Directors, individually and collectively as the Board, act as they consider most likely to promote the success of the Company for the benefit of shareholders as a whole.

Consideration of these factors and other relevant matters is embedded into all Board decision-making, strategy development and risk assessment throughout the year. We consider our key stakeholders to be our occupiers, our people, our communities, our suppliers and our shareholders. Working closely with our stakeholders falls within one of our three strategic pillars set out within our business model and strategy. The primary ways in which the Board engages directly or delegates responsibility for engagement to management are set out below. Board engagement with stakeholders Our shareholders As the owners of the business we rely on the support of our shareholders and their views are important to us. The long-term success of the business will deliver value for shareholders. The Chair and Chief Executive hold regular meetings with shareholders and feedback from these meetings is reported back to the Board. This feedback may be on operational matters, financing strategy or dividend policy, as examples. Other Non- Executive Directors will engage with shareholders on specific matters as appropriate. The Directors normally attend the Annual General Meeting to meet with shareholders and to answer any questions they may have. Our occupiers One of our key priorities is to work with our occupiers, so that we can understand their needs and aim to meet their current and future requirements. The Board has delegated responsibility for engaging with occupiers to the asset management team, who have ongoing communication with occupiers, and use this information when making proposals to the Board on investment transactions, such as refurbishment projects or leasing events.

The Directors have regard to: The likely long-term consequences of decisions

Read more on pages 86–93

The interests of its employees

Read more on page 73

The Company’s relationships with its suppliers, customers and others

Read more on pages 72–75

The impact of the Company’s operations on the community and the environment

Read more on pages 56–71

The Company’s reputation and maintaining a reputation for high standards of business conduct

Read more on pages 80–95

The need to act fairly towards shareholders

Read more on pages 88–93


Picton Property Income Limited Annual Report 2023

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