Trustee Required Disclosures

Nomination, appointment, and removal of trustees:

Russell Investments Employee Benefits, as the owner of all issued shares in TRM, and the directors themselves, have rights to appoint and remove directors.

Where a vacancy arises, Russell Investments assists the Trustee (TRM) to source appropriately qualified persons. An individual will be eligible for nomination if they:

1. Are able to satisfy the fitness and propriety requirements set out in TRM’s Fitness & Propriety Policy;
2. Are not found to be ineligible due to affiliations or previous tenure; and
3. Have the skills and capabilities necessary for the Board to fulfil its role and function.

In appointing a director, consideration will be given to diversity, having regard to gender, age, ethnicity and cultural background. However, it is recognised that, given the responsibilities of the Board, relevant experience, skills and knowledge, having regard to the TRM Skills Matrix, together with the candidate’s propriety are the primary considerations. TRM recognises that in appointing a director, regard must be had to the requirements of Prudential Standard SPS 510 relating to auditor independence that prevent certain persons from being appointed as a director of TRM.

A director may be removed from the Board only in the following circumstances:

1. on expiry of his/her term, where applicable;
2. immediately, where the director has become a disqualified person;
3. immediately, should all of the directors, other than the director in question, determine that the director is no longer able to fulfil his/her role in a manner that is considered acceptable, or soon as practicable, should the Board consider this desirable in order to ensure that the Board continues to maintain the required skills and experience.

No director is to remain on the Board for more than 9 consecutive years, unless approved by the Board.

• Board Members
• Record of Attendance – Board Meetings
• Conflicts Management – Policy Summary
• Register of Relevant Duties and Relevant Interests
• Annual Financial Statements
• Constitution
• Proxy Voting Policies – see Corporate Governance
• Exercise of Voting Rights – see Corporate Governance
• Remuneration