Modern Slavery and Human Trafficking Statement

17 July 2019

Introduction

Praxonomy recognises that modern slavery is a crime and a violation of fundamental human rights. It takes various forms, such as slavery, servitude, forced and compulsory labour and human trafficking, all of which have in common the deprivation of a person's liberty by another in order to exploit them for personal or commercial gain. We aim to fairly, ethically and openly in everything we do combat slavery and human trafficking in our supply chains and in any part of our business.

Our Policy

We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. Our Anti-Slavery and Human Trafficking Policy reflects our commitment to act ethically and with integrity in all our business relationships and to implement and enforce effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains or in any part of our business.

Supplier and Vendor Diligence

Praxonomy offers proprietary cloud-based software solutions for board of directors of organisations of all sizes. The vast majority of our direct supply chain spend is for the development and improvement of our software and infrastructure as well as to support our sales and after-sales services. Praxonomy recognises that the most important step we can take to protect ourselves and others is to carefully select and evaluate our business partners, suppliers and vendors. As part of this we will require third parties we do business to agree to abide by applicable laws including fair employment practices.

Praxonomy employees are required to assist with due diligence and evaluation of business partners, UK suppliers and vendors to ensure these parties' compliance with the relevant legislation including the Modern Slavery Act 2015 as required.

Compliance Assessment

Evaluations of business partners, suppliers, and vendors are regularly reviewed by legal, security, and senior leadership teams at Praxonomy. Evaluations of suppliers and vendors begin during the procurement process and are periodically assessed for any material changes.

Praxonomy expects all of our suppliers and service providers to meet legal and ethical standards as a condition of doing business with us. Any practice by one of our suppliers or vendors that is likely to cause immediate harm to one of their workers or that demonstrates glaring unethical behavior will provide grounds for Praxonomy to request expeditious remediation of this practice or the immediate termination of Praxonomy's commercial relationship. If a practice, which causes or is likely to cause severe harm to workers, is identified prior to beginning a relationship with Praxonomy, the issue must be resolved before, and as a condition of, the commencement of the business relationship with Praxonomy and also for qualification of the continuing commercial relationship with Praxonomy.

Training

To ensure a high level of understanding of the risks of modern slavery and human trafficking in our supply chains and our business, we will provide training to our staff involved in HR, procurement and/or with responsibility for our supply chain management and will repeat this as part of our regular staff training programme.

This statement is made pursuant to section 54(1), Part 6 of the U.K. Modern Slavery Act 2015.

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