Unipol Gruppo S p A : 2022 Responsible Investment Guidelines

GUIDELINES

FOR RESPONSIBLE INVESTING

August 2022

GUIDELINES

FOR RESPONSIBLE INVESTING

August 2022

Guidelines for responsible investing

CONTENTS
Introduction....................................................................................................................................	5
1.1.	Document Objectives ..........................................................................................................	5
1.2. Approval and revision of the document ..............................................................................	5
Reference context .........................................................................................................................	6
2.1.	Regulatory references.........................................................................................................	6
2.2.	Scope of application............................................................................................................	7
2.3.	Definitions and terminology.................................................................................................	8
Responsible investment principles..............................................................................................	10
Incorporation of the ESG factors into the decision-making processes relating to investments..	11
The financial investments............................................................................................................	11
5.1.	Investment strategies ........................................................................................................	11
	5.1.1 Monitoring of the sustainability risks and negative effects for sustainability when
	selecting Corporate Issuers ....................................................................................	12
	5.1.1.1. Corporate Issuer Exclusions......................................................................	13
	5.1.2. Monitoring of the sustainability risks and Negative Effects for sustainability when
	selecting Government Issuers ................................................................................	13
	5.1.2.1. Exclusion of Government Issuers..............................................................	14
	5.1.3. Climate change......................................................................................................	14
	5.1.4 Management of sustainability risks and the negative effects for sustainability with
	regard to the investments already in place.............................................................	15
	5.1.5. Thematic and Impact Investments..........................................................................	15
5.2. Class D and Pension Fund Portfolios ...............................................................................	16
Real Estate..................................................................................................................................	16
6.1.	Purchase of properties ......................................................................................................	17
6.2.	Development activities ......................................................................................................	17
6.3.	Management activities ......................................................................................................	17
Roles and responsibilities of the players involved in the process...............................................	18
7.1.	Board of Directors .............................................................................................................	18
7.2. Control and Risks Committee ...........................................................................................	18
7.3.	Group Risk Committee......................................................................................................	19
7.4. Nomination, Governance and Sustainability Committee ..................................................	19
7.5.	Group Investment Committee ...........................................................................................	19
7.6. UnipolSai Financial Investment Committee ......................................................................	19
7.7. UnipolSai Real Estate Investment Committee..................................................................	19
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Guidelines for responsible investing

7.8.	Investment Area of the Parent Company..........................................................................	20
7.9.	UnipolSai Finance Department .........................................................................................	20
7.10. UnipolSai Real Estate Department ...................................................................................	20
7.11. UnipolSai Sustainability Department ................................................................................	20
7.12. UnipolSai Risk Area ..........................................................................................................	20
Reporting .....................................................................................................................................	21

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Guidelines for responsible investing

Introduction

1.1. Document Objectives

This document defines the guidelines for responsible investing (the "Guidelines") with a view towards identifying and managing specific risks and impacts with reference to ESG factors and to financially support sustainable growth as outlined by the European Commission in the action plan "Financing Sustainable Growth" published in March 2018.

The guidelines govern investing activities with reference to the "Portfolios" and the asset classes set out in detail below (paragraph 2.2), promoting:2.2

• the incorporation of ESG factors into the analysis of the investments and the related decision-making process, the issuer selection criteria and the management of the investments themselves;
• the progressive expansion of financial asset monitoring in terms of ESG performance and the expansion of its offer of sustainable financial products1;
• the thematic and impact investments through which the Group can perform an active role in helping to reduce environmental or social problems such as the challenges posed by climate change, the depletion of resources, and economic and social inequality.

1.2. Approval and revision of the document

These guidelines, drafted/revised with the involvement of the company structures concerned in order to ensure a clear definition and sharing of objectives, roles and responsibilities, were approved by the Board of Directors of the Parent Company, Unipol Gruppo S.p.A. ("Unipol" or the "Parent Company") in exercising its management and coordination activities with respect to the Subsidiaries and in line with the Group's business process regarding the preparation and validation of corporate policies.

Subsequently, the Board of Directors of the Companies in scope, as part of their responsibilities on governance, the internal control system and risk management, evaluate and approve the Guidelines, insofar as they are applicable, in compliance with specific sector regulations and their business models.

The Guidelines will be revised and - if necessary - amended whenever required by regulatory updates, by measures introduced by the Supervisory Authority, business strategies or changes in context (significant changes to company processes, significant structural reorganisations, significant changes in the business sectors in which the Group operates or changes in the Materiality Assessment).

• These refer to financial products that promote, inter alia, environmental or social characteristics or a combination of those characteristics on condition that the companies in which the investments are made comply with good governance practices (article 8 of Regulation (EU) 2019/2088) and financial products that aim at sustainable investments (article 9 of Regulation (EU) 2019/2088).

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