Adopted on: June 3, 2024

1. Commitment to Eliminate Modern Slavery:

   • Understated AI Ltd is committed to eliminating modern slavery, human trafficking, forced labour, and similar human rights abuses.

2. Ensuring Ethical Treatment:

   • Understated AI Ltd is committed to ensuring that its staff and any workers it supplies (directly or indirectly) are not subject to behaviour or threats that may amount to modern slavery, human trafficking, forced labour, and similar human rights abuses.

3. Training and Awareness:

   • Understated AI Ltd provides appropriate training and awareness information for all of its staff.
   • In particular:
     • Our leadership team and/or senior supply chain managers receive detailed training in identifying and resolving concerns around modern slavery and human trafficking.
     • All of our staff receive awareness-raising information around issues involving modern slavery and human trafficking, so that they can bring any concerns they have to the attention of management.

4. Reporting Concerns:

   • Any staff, workers, or other parties are strongly encouraged to report any concerns or suspicions that they might have to James Warwick.

5. Response to Reports:

   • Reports surrounding these issues are taken extremely seriously by our board of directors, who are committed to ensuring that all investigations shall be prompt and effective. If our investigations reveal any issues, we are committed to taking appropriate action, including but not limited to:
     • Working with the appropriate organisations to improve standards.
     • Removing that organisation from our preferred supplier list.
     • Passing details to appropriate law enforcement bodies.

6. Monitoring and Performance Indicators:

   • We regularly monitor our risks in this area through the use of relevant key performance indicators, including:
     • The percentage of suppliers who sign up to an appropriate code / provide their own modern slavery statements.
     • The percentage of candidates supplied from audited businesses / our preferred supplier list.
     • The effectiveness of enforcement against suppliers who breach policies.
     • The amount of time spent on audits, re-audits, spot checks, and related due diligence.
     • The level of modern slavery training and awareness amongst our staff.

7. Annual Modern Slavery Statement:

   • As part of our efforts in this area, we publish a modern slavery statement on an annual basis.

8. Related Policies:

   • We would also recommend reading this in conjunction with our other policies, including our:
     • Corporate social responsibility policy.
     • Ethical procurement policy.
     • Anti-bribery / corruption policy.
     • Whistle-blowing policy.

This policy was adopted on June 3, 2024, after being agreed by our board of directors. It is reviewed annually.