Modern Slavery Statement

Introduction

This statement sets out Yeo Valley Production Limited’s absolute commitment to
minimising potential modern slavery or human trafficking risks in its business and
supply chains, whilst ensuring that we meet the requirements of section 54 of the
Modern Slavery Act 2015. This statement relates to our 2024-25 financial year,
ending on 1st June 2025.

We produce one statement for Yeo Valley Production Limited which covers the below
subsidiaries. All Yeo Valley Production Limited’s subsidiaries will be referred to as
Yeo Valley throughout this statement.

This statement covers:

Our Business and Supply Chains:

Yeo Valley is a leading food and farming business within the UK; producing yogurt,
ice cream, sorbets, fruit conserves, desserts, meat and soups. We manufacture over
600 different products, both for the largest organic dairy brand in the UK, Yeo Valley
and multiple retailer and wholesale own label brands.

We operate out of 4 manufacturing sites, 3 office locations and 1 distribution centre
based across the Southwest of England, employing over 1900 co-owners and have a
group turnover of over £420 million. We work with over 2000 approved suppliers,
including manufacturers, farmers, growers and service providers, primarily within the
UK and Europe and further afield where appropriate. Our procurement, development
and supplier technical teams are key stakeholders during the approval process to ensure
the suppliers we work with and the products they supply meet our requirements.

As a food and farming business we are driven to show that there is an affordable and
scalable way to produce natural healthy foods that sustain and value life whilst
reversing climate change.

This commitment has brought us to our purpose and vision of Nurture and Nourish,
People and Planet by Making Great Food the Right Way Forever. Of which we have
identified three core commitments that will underpin our strategy and inform our
future. These being:

Our Purpose in action:

In order to deliver positive change, and support our purpose, vision and
commitments, we have key strategies and workstreams that we are focussing on over
the next five years and beyond. Three key workstreams to highlight are our Impacts,
Passionate People Priorities and our Modern Slavery working groups and
programmes.

Our Impacts

To support our purpose and ensure we are continually striving to operate in the
most responsible way, we have identified six external impacts that will drive our
sustainable performance. These being:

These are fully embedded throughout the business, having given impacts equal
parity to financial performance. Responsibility has been clearly identified across
our sites and teams, with overall responsibility sitting with our Chief Impact and
Finance Officer. Progress against our impacts is regularly reported across the
business, either weekly, monthly or quarterly, to ensure robust data and evidence
is available to inform decision making and drive continued focus. We have also
launched an interactive impacts training platform, focussing on our impacts which
supports our purpose and available to all co-owners.

Passionate People

We are proud to say that all our employees are co-owners of Yeo Valley, with 20% of
the shares in Yeo Valley Production being placed in an employee benefit trust.
This Co-ownership structure will create a sense of belonging, influence and
optimism for the future. For our Co-owners this means:

To facilitate this every site and our Central functions have Co-owner Forums,
chaired by reps independent of site and functional leadership. In 2023 we launched
our business wide Co-ownership council, comprised of representatives from each
site, chaired by a non-executive independent of the organisation.

Modern Slavery working groups and programmes:

We have two workstreams, one is focussed on identifying risk and driving
improvements around the issue of Modern Slavery on our sites, and the second is
looking at identifying ethical, including Modern Slavery, and environmental risks
and opportunities in our supply chain.

Our sites Modern Slavery Working Group:

This working group is led by our HR team, with key stakeholders including HR,
Learning & Development, Recruitment, People Services and Responsible Business.
The scope covers all people who work under the umbrella of Yeo Valley Production
Ltd: including permanent co-owners, agency staff and contractors. Through
analysis of internal and external data this group has developed a robust riskbased
approach to tackling Modern slavery risks. We will also be developing our
external partnerships, to ensure we embed best practice within our existing
policies and practices as well as identifying the training needed across our
workforce to mitigate Modern Slavery risks.

Fairer Supply Chain Working Group:

This cross-functional working group consists of our Procurement and
Responsible Business teams. The scope covers all our direct suppliers and our
strategic indirect suppliers. This group is responsible for developing and
embedding Yeo Valley’s sustainable procurement policies and procedures. This
includes an evidence-based approach to identify and mitigate ethical supply
chain risks. Utilising both robust and validated external and internal data
proactively collected through ethical data platforms, knowledge sharing and
supplier monitoring.

Our Policies:

To support our Purpose and Vision of ‘Nurture and Nourish, People and Planet by
Making Great Food the Right Way Forever, we have a number of policies outlined
below. We have a Human Rights Policy and a Supplier Code of Conduct, which cover
our sites and our supply chains respectively, that recognise our commitment to the
Ethical Trade Initiative (ETI) base code, worker’s rights and compliance to the ILO
conventions.

Our commitment to minimising modern slavery or human trafficking risks within all
parts of our business and supply chain is reflected in our policies. In addition to
our Human Rights Policy we have a number of relevant policies and procedures,
including but not exhaustive: equal opportunities, co-owner handbook,
whistleblowing, agency management, diversity, training and recruitment. These
policies support our continual compliance not just from a legal standpoint but also
to ensure our business requirements are met and our employees are engaged to
support our ambition of becoming an employer of choice.

Due Diligence, Risk Management and KPI Monitoring:

Our Supply Chain:

Our raw material suppliers are managed by our central procurement and technical
teams. We ensure that we only source raw materials from suppliers that have been
taken through a robust supplier approval process and who continue to be monitored
at a frequency and depth based on risk. Our monitoring programme includes, but is
not limited to: in-person and online audits, visits and regular meeting schedules;
horizon scanning; external certification requirements; external knowledge
partnerships and ethical data platforms.

To monitor our suppliers ethical and environmental risks and practices, we continue
to use the globally recognised platform Sedex as our ethical supplier data platform.
This provides us with a greater level of visibility of our ingredient and packaging
suppliers (from whom we purchase products directly) practices. We require all our
direct ingredients and packaging suppliers to be Sedex members, link to Yeo Valley
for visibility and have fully completed the Self-Assessment Questionnaire,
reviewing annually. We monitor our supplier’s adherence to our supplier code of
conduct; review our key suppliers SEDEX SAQ risk and SMETA audit compliance (if
applicable); utilise our YV inherent country risk assessment to enable targeted
enhanced due diligence from high-risk sourcing areas.

In support of our Impact ‘a Fairer Supply Chain’, we have generated an internal
metric to ‘Improve the Ethics and Sustainability of our raw materials’. This metric
provides visibility of all our raw materials ethical and environmental credentials
and allows us to identify priority and high-risk categories and workstreams. The
Fairer Supply Chain Working Group, mentioned above, is developing the policies and
procedures that will enable the wider business to implement sustainable sourcing
practices and workstreams within these identified priority areas. Within the last
year, this working group has:

Our Sites:

Our Passionate People priorities, focus on the meaningful influence of our coowners
and ensure that everyone feels that they belong and have a future at Yeo
Valley. Each site has developed their own strategic plans which set out people
focussed aims, embedding the Passionate People’s intent across the business. As
mentioned, site Co-owner forums meet on a monthly basis to discuss and action
relevant topics and business led initiatives.

We have a number of processes, due diligence checks and channels of communication
to monitor potential modern slavery indicators throughout the employee lifecycle,
and give our co-owners the opportunity and space to feel heard.

Our Recruitment:

We have a dedicated in-house recruitment team that manage both our internal
recruitment across our sites and our external agency partners. We predominantly
hire through our in-house recruitment and have rigorous controls throughout the
on-boarding process to support and assess our future co-owners. A small proportion
of our workforce are sourced through the use of agency recruitment, and we make
sure to monitor the agencies processes and due diligence to ensure they meet our
own standards.

We are aware that there is a risk by using agency staff within our manufacturing
sites and distribution centres, and this has been identified as a key area of focus
within our Modern Slavery Working Group. We work to mitigate this risk by using
only specified, approved and reputable employment agencies to source labour. Our
due diligence includes, but not limited to, regular meetings, KPI monitoring,
internal auditing and modern slavery review within tender selection processes. In
addition, all labour agencies are registered members of the Gangmasters Licensing
Authority and we ensure we hold proof of their certification.

Training:

We have an inhouse Learning & Development team who are experts at delivering a wide
range of topics to our co-owners, both online and at our L&D centre. It is imperative
for Co-owners to understand their rights and how they can raise issues or concerns;
and appropriate training is a key step to help achieve this.
Training is a key area of focus within our Modern Slavery Working group and Modern
Slavery Impact Assessment, specifically:

Board Approval

This statement has been approved by the organisation’s board of directors, who will
review it and update it annually.

Director’s Signature

Rob Sexton – Chief Executive Officer

Date: 16.10.25