SEE Principles

Objectives
Responsibilities
Social, Ethical and Environmental Principles

1. Objectives
   
   Signet Group's objective is to operate as a profitable and responsible speciality jewellery retailer, delivering increasing value to our shareholders, while seeking to uphold our social, ethical and environmental principles and considering the interests of its other stakeholders: customers, employees, those with whom we do business, and society as a whole.
   
   We are committed to the continual improvement of business performance and shareholder value over time. Continual improvement will be sought by the constant refinement of the way we do business, utilising the best and most effective practices in order to increase productivity. We recognise that it would not be possible to fulfil our responsibilities to our stakeholders without the sustained generation of profits over time. Profitability is a measure both of efficiency and of the value that customers place on our products and services.
   
   In addressing the interests of shareholders and other stakeholders we recognise that there are indirect impacts generated by our activities, in particular through our supply chain. We will use our influence with those with whom we do business directly, in particular our agents and suppliers, to promote the achievement of our social, ethical and environmental principles. We will communicate to suppliers our expectations in this regard. We recognise that our ability to influence and promote these principles, beyond our direct suppliers, is limited and see industry-wide approaches as the most effective mechanism for promoting good practice on issues where we do not have direct influence.
2. Responsibilities
   
   a. to our shareholders
   
   Our aim is to deliver an acceptable growth in value to shareholders which is sustainable, thereby protecting shareholders' short and longer term interests. Signet is committed to upholding high standards of corporate governance and business ethics. Our Board determines all major policies, seeks to ensure effective strategies are in place to create shareholder value and reviews internal control and risk management systems, including those that relate to social, ethical and environmental matters.
   
   b. to our customers
   
   As a retailer, we have a responsibility to our customers. Our mission is to meet, and where possible exceed, customer expectations through a high standard of customer service, high store standards, and offering real choice and value. Our policy is that all customers should be treated with respect and warmth. In doing so we endeavour to maintain our product integrity by ensuring that what we sell is what we say it is and by offering merchandise that is responsibly sourced.
   
   c. to our employees
   
   Our employees are key to our ability to achieve our objectives and mission. In recognition of this, teamwork, integrity, communication and fair treatment of employees all play an important part in the success of Signet. We value honest, open and constructive "two-way" communication throughout the organisation. It is important to us that our employees are proud of the company they work for.
   
   We have a responsibility to provide for all our employees:

• a healthy and safe work environment
• fair terms, conditions of service and rewards
• a work environment that values diversity and does not tolerate any form of unlawful discrimination on any ground or at any level
• equal opportunities
• training and career paths, while encouraging employees to take individual ownership of their own development
• work-home life balance, respecting our employees' own commitments and responsibilities to family and friends.

Our employees, in turn, are expected to do their best to contribute towards the attainment of our business objectives.

d. To those with whom we do business

In order to maintain sustainable relationships with our suppliers, we recognise our responsibility to treat suppliers fairly, ensuring we operate in accordance with the terms and conditions agreed upon.

Our suppliers, agents and business partners have a responsibility to supply us with products and services that meet our requirements with respect to quality, delivery and social responsibility. We encourage our suppliers to, where possible, adopt similar social, ethical and environmental principles and to use their influence to promote the achievement of these principles with their direct suppliers and subcontractors.

e. To society

The most important contribution that Signet can make is to perform our basic activity as efficiently as possible. Our duty to society is to conduct business responsibly, complying with applicable laws and regulations in the countries in which we operate, while respecting appropriate environmental, human rights and labour standards.

3. Social, Ethical and Environmental Principles

Introduction

These principles are applied within the context that Signet's objective is to operate as a profitable and responsible speciality jewellery retailer, delivering increasing value to our shareholders, while taking account of the interests of its other stakeholders: customers, employees, those with whom we do business, and society as a whole.

Principle 1: Business Integrity

Signet believes in conducting its business in a manner that reflects honesty, integrity and ethical conduct and as a minimum we seek to comply with all applicable laws and regulations. We will endeavour to maintain our product integrity by ensuring that what we sell is what we say it is and by offering merchandise that is responsibly sourced. Signet also believes that the integrity demonstrated by its employees contributes to its success and influences its reputation. We therefore expect our employees to act at all times in a manner which reflects the ethical principles of the Group.

Principle 2: Human Rights

Signet supports the belief that human rights are universal and we support the UN Declaration of Human Rights (UDHR). We will encourage support and respect for the protection of human rights within our sphere of influence.

Principle 3: Labour Standards

Signet believes in upholding the labour standards set out in the fundamental ILO conventions within our own business and will encourage their adoption by those with whom we do business by making known our principles.

Principle 4: Health & Safety

Signet believes in ensuring a healthy and safe environment, both for employees and for our customers. Also, we will seek to use our position as a customer, where possible, to influence the health and safety performance of our direct suppliers.

Principle 5: Environment

Signet seeks to ensure the efficiency of its business, including the environmental performance of our operations. This includes the use of energy, waste management, recycling and the choice of materials used in our products and locations. We will also seek to use our influence with those with whom we do business to encourage efficient environmental performance.

Principle 6: Community

We consider that our prime contribution to society can best be achieved through performing our basic business activities as efficiently as possible. Whilst conducting these activities we will be mindful of the impact of our business on the quality of life of local communities in which we operate.

Principle 7: Accountability to stakeholders

Signet believes in gaining and maintaining the trust of our stakeholders through honest, open and constructive communication. We also believe that understanding our stakeholders' needs and taking these into consideration will enable us more effectively to adapt to market changes and to deliver value to our shareholders.

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