Proxy Voting

Proxy Voting Policy

This policy has been approved by the Trust Company Limited (Trust) Board and sets out the principles and guidelines under which proxies will be voted on behalf of the registered managed investment schemes managed by Trust or one of its wholly owned subsidiaries.

Trust will vote on all resolutions where it has the voting authority and responsibility to do so. Where Trust determines not to vote it will record that decision and disclose it as part of its proxy voting record.

In exercising its voting entitlements Trust will always act in the best interests of the members of the registered managed investment schemes. Where the interests of these two parties are not aligned, Trust retains the discretion to decide to vote on the particular issue on a case-by-case basis.

In carrying out its investment management process Trust places considerable emphasis on the quality of management of the company in which the shares are held and the adherence by the board of the company to good corporate governance principles. Assuming these factors are viewed positively by Trust it will vote in accordance with the recommendations of the board of the company unless there exists strong reasons to vote otherwise.

Trust will publish annually, within 2 months of the end of June, a summary of its Australian equities proxy voting record for the previous year.