Impax Environmental Markets plc (IEM) Ordinary 10p

To enable investors to benefit from growth in the markets for cleaner or more efficient delivery of basic services of energy, water and waste. Investments are made predominantly in quoted companies which provide, utilise, implement or advise upon technology-based systems, products or services in environmental markets, particularly those of alternative energy and energy efficiency, water treatment and pollution control, and waste technology and resource management (which includes sustainable food, agriculture and forestry).

The Manager is entitled to remuneration each month at a rate equivalent to one twelfth of 0.9% on the NAV up to and including the first GBP 475m and 0.65% on NAV in excess of GBP 475m and 0.45% on above GBP 1.4b NAV

The Directors typically expect the Company to generate returns in the form of capital gains rather than revenue. It is the Company’s policy to pay out substantially all earnings by way of dividend for each year, with dividends mainly financed from current year net income and, since 2020, to declare two dividends each year.

Sanjeev Lakhani

Sanjeev is a co-Portfolio Manager of the Impax Climate strategy. He is also responsible for ideas generation, fundamental research and thought leadership for Impax’s Thematic and Lens strategies with a primary focus on Industrials. Sanjeev joined Impax in 2023 from Highclere International investors, where he worked as an investment analyst and assistant portfolio manager,covering International small and mid cap stocks primarily across Industrials and Utilities. Prior to that he worked at Janus Henderson Investors as an Investment Manager across their Sustainable, Global and International strategies. Sanjeev started his career at PwC where he worked in corporate finance and qualified as a chartered accountant(ACA). Sanjeev holds a BSc in Economics from the London School of Economics. He is a CFA Charterholder and a member of the ICAEW.

Glen SuarezChairman, Aine Kelly, Stephanie Eastment, Guy Walker, Elizabeth Surkovic