UTC (UK) Pension Scheme - Implementation Statement

Appendix 1(iii) – Examples of managers’ illustrations of significant votes – BlackRock

BlackRock

Vote 1

Vote 2

Company name

DowInc.

Tesla, Inc.

Date of Vote

11 April 204

13 June 2024

Fund’s holding as at the date of the vote (as % of portfolio)

Not provided

Not provided

Summary of the resolution

Commission Audited Report on Reduced Plastics Demand

Declassify the Board of Directors

How the manager voted

Against

For

Rationale for the voting decision

BlackRock believe that the company already has policies in place to address these issues.

BlackRock believe that directors should be elected annually to discourage entrenchment and allow shareholders sufficient opportunity to exercise their oversight of the board.

Outcome of the vote

Fail

Pass

Implications of the outcome

Not provided

Not provided

Not provided

Not provided

Criteria on which the vote is considered significant

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UTC (UK) Pension Scheme | Statement of Investment Principles - Implementation Statement | 5 March 2025

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