UK Modern Slavery Act Statement

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1. INTRODUCTION
   
   
   1. This statement is made on a voluntary basis in the form set out in section 54(1) of the UK Modern Slavery Act 2015 (“MSA”) and sets out the steps that BDT & MSD Partners International, LLP (“BDT & MSD UK” or the “Firm”) has taken to  prevent modern slavery and human trafficking within its business and supply chains. This statement is for the financial year ending 31 December 2024.
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   2. The term “modern slavery” covers a wide range of abuse and exploitation, including slavery, servitude, forced and compulsory labour, and human trafficking.
      
      BDT & MSD UK is committed to promoting and maintaining the highest ethical standards and business practices and to respecting human rights and employees' rights. We seek to work with suppliers who meet the same strict standards and who share our values.

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2. OUR BUSINESS AND STRUCTURE
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   1. BDT & MSD UK is a merchant bank that provides advice and long-term capital through its affiliated funds to help family- and founder-led businesses pursue their strategic and financial objectives. We work with the owners and leaders of these closely held businesses to find creative solutions to their most complex issues, while also providing access to our world-class network.
      
      BDT & MSD UK, which is authorized and regulated by the Financial Conduct Authority, is a subsidiary  of BDT & MSD Partners, LLC, which maintains its head office in the United States.  The Firm’s principal place of business is in the UK, and it has a branch office in the Dubai International Financial Centre.

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3. OUR WORKFORCE
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   1. BDT & MSD UK considers the risk of modern slavery in our workforce to be low. The workforce is composed almost entirely of skilled professional employees. We maintain rigorous hiring practices, including relevant background checks as a means to enhance transparency.

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4. OUR SUPPLY CHAINS
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   1. BDT & MSD UK believes that the risk of modern slavery or human trafficking within its supply chains is minimal. As a merchant bank, we do not produce physical goods, and our main suppliers comprise professional service providers such as law firms, banks, accounting and other consulting firms, data providers, and technology services. We seek to build strong and lasting relationships with our key suppliers and to clearly communicate our expectations for ethical business interactions.

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5. OUR POLICIES ON SLAVERY AND HUMAN TRAFFICKING
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   1. Our Anti-Slavery Policy reflects our commitment to acting ethically and with integrity in all our business dealings and relationships, and to taking steps to help ensure that modern slavery is not taking place anywhere in BDT & MSD UK’s business and supply chains. We also have the following policies in place relevant to modern slavery, which we regularly review and update the Firm’s Code of Ethics which sets out how our employees can ensure their actions align with our guiding principles and that they act with honesty and integrity in all facets of our business dealings.

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6. DUE DILIGENCE PROCESSES FOR SLAVERY AND HUMAN TRAFFICKING
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   1. As part of BDT & MSD UK’s initiative to identify and manage risk:
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      • We seek to continuously improve our systems to better (a) identify, assess, and monitor potential higher risk areas in our supply chains, (b) mitigate the risk of slavery and human trafficking occurring in our supply chains through enhanced contract term controls (to the extent appropriate and obtainable), (c) train our employees as to these risks and the need to manage them, and (d) protect whistle blowers.
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      • In addition, we are examining opportunities for deeper due diligence on our suppliers, including assessing their compliance with the MSA.
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   2. BDT & MSD UK recognizes its responsibility to identify and address potential modern slavery issues that are linked to our business activities. We assess vendors in our supply chain to determine if they maintained anti-slavery policies. We add anti-slavery provisions to applicable UK-related contracts.  In general, we take a risk-based approach and consider the risk of modern slavery within our supply chain to be low. Nevertheless, we continue to seek ways to maintain the highest standards of ethical behaviour and fiduciary responsibility.

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7. TRAINING
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   1. To ensure a high level of understanding of our values and culture, we provide regular training to our staff.  All BDT & MSD UK staff receive initial and annual training focused on upholding BDT & MSD UK’s policies and     procedures. 

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8. OUR EFFECTIVENESS IN COMBATING SLAVERY AND HUMAN TRAFFICKING
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   1. Members of BDT & MSD UK management will monitor progress with efforts in complying with applicable laws and regulations relating to modern slavery, and issues, should they arise.

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9. APPROVAL
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   1. This statement constitutes BDT & MSD UK’s modern slavery and human trafficking statement for the financial year ending 31 December 2024. 
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Signed for and on behalf of BDT & MSD
Partners International, LLP