Modern Slavery Act Statement

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 in respect of Fundsmith LLP ("Fundsmith") for the financial year end 31 March 2025.

Organisation structure and supply chains

Fundsmith is a London headquartered fund management company authorised and regulated by the United Kingdom Financial Conduct Authority. Fundsmith is structured as a limited liability partnership and is owned and controlled by its partners. The focus of the business is on delivering superior investment performance at a reasonable cost.

Fundsmith is a service business supported by other regulated financial institutions and professional service firms such as legal, accounting and IT support, as well as basic office service providers. Fundsmith's service providers are almost entirely based in the United Kingdom, United States or the European Union, but in certain cases they do undertake an element of offshoring.

Policies in relation to slavery and human trafficking

Fundsmith has a full-time supplier management function and suppliers are subject to formal onboarding and periodic review. In addition Fundsmith has a policy suite which covers conduct, whistleblowing, recruitment and HR policies, as well as the procurement and management of suppliers. Policies are subject to periodic review by internal committees.

Due diligence processes

Fundsmith has assessed the risk that modern slavery or human trafficking could manifest itself within its business or supply chain as being low. This determination is based on Fundsmith's status as a financial service firm with a low headcount and staff turnover rate and a predominantly domestic supply chain from providers in sectors with a low risk of modern slavery.

Nevertheless, Fundsmith exercises due skill, care and diligence when entering into contracts with suppliers including requesting confirmation that providers have policies in place to prevent modern slavery. Fundsmith conducts periodic, risk-based reviews of suppliers, which includes in person visits for critical suppliers.

Where a supplier poses an elevated risk of modern slavery (e.g. commercial cleaning) Fundsmith undertakes a more targeted review to ensure the supplier remains vigilant against modern slavery.

Key performance indicators to measure effectiveness of steps being taken

In assessing the effectiveness of its actions, Fundsmith pays due regard to its reviews of suppliers, any concerns that have been raised and the success of employee training.

Training on modern slavery and trafficking

Modern slavery training forms part of Fundsmith's annual training programme and is applicable to all employees.

This statement has been approved by the Management Committee as the ultimate governing body of Fundsmith LLP.

Signed: Mark Laurence, Chief Operating Officer

Date: 29 September 2025