Recognition & awards

We are keen to encourage colleagues to achieve their career aspirations, whether that’s growing in role, internal moves or gaining fresh insights and perspectives in other industries. Some of our colleagues stay with us for the long term, demonstrating our commitment to a culture of engagement and continuous growth and development. In 2025, the Group recognised the significant tenure of around 110 UK employees who reached a five, ten, fifteen or twenty year milestone of employment through our Long Service Award programme. In OSB India, over 190 (18%) employees have five or more year’s service. Our Galaxy Award Scheme recognises, and rewards excellent behaviours linked directly to each of our Values, with individual winners and runners-up for each category. In 2025 over 231 nominations were submitted by colleagues.

Engagement and culture

Our 2025 Best Companies survey was undertaken in January, immediately after the 2024 Group-wide redundancy programme. Despite this, we retained an overall ‘2 star’ rating, with Best Companies defining this as an outstanding level of employee engagement. Colleagues within OSB India participated in a separate survey, run by the Great Place to Work Institute and following which OSB India were officially certified as a ‘Great Place to Work’ for the ninth consecutive year. We continued to see strong feedback through Glassdoor, with the UK score at the end of 2025 sitting at 3.7 (2024: 4.1) and the OSB India score slightly higher at 4.1 (2024: 4.2). These scores relate to reviews submitted by current and former employees, reflecting the positive culture that exists throughout our teams.

The Group’s Workforce Advisory Forum (OurVoice) continued to meet regularly in 2025, including employee representatives from all geographical locations, including OSB India. The aim of the forum is to further enhance the level of engagement that the Group Executive Committee and the Board have with the wider workforce. To achieve this, in addition to employee representatives, the forum is attended by rotating Non-Executive Directors and Group Executive Committee members to ensure that they can hear directly from the employees and share feedback on important matters.

Sally Jones-Evans (Non-Executive Director) is the appointed Board People Champion to represent colleague perspectives at Board level. OSB GROUP PLC

Code of conduct and business ethics

The Group is committed to conducting business with integrity, fairness and respect. Our approach to conduct and business ethics sets out the principles that guide our actions and decision making, helping us maintain the trust of our customers, investors, colleagues and the communities we serve. This commitment reflects the Group’s broader focus on responsible governance and transparent practices, as demonstrated throughout our corporate disclosures and sustainability reporting.

Our ethical framework is supported by Group policies and operating guidelines that translate these principles into practical expectations for day to day work. These guidelines cover areas such as customer interaction, financial reporting, data protection, and the responsible use of company resources, ensuring a consistent and accountable approach across the organisation.

Embedding Ethical Standards

To ensure our standards are clearly understood and consistently applied, the Group provides annual training to all employees. This training covers ethical decision making, compliance responsibilities and practical guidance for handling real world situations. By equipping colleagues with the knowledge and tools they need, we help reinforce a culture of integrity, accountability and sound judgement across the organisation.

Respect and Integrity

We believe that everyone should be treated fairly and with dignity. Diversity, inclusion and equal opportunity are fundamental to the culture we continue to build. All colleagues are expected to act honestly and transparently, avoiding conflicts of interest and ensuring personal interests never compromise professional judgement. Living these values helps create a workplace where respect, integrity and openness can thrive.

Protecting Customers

Delivering good outcomes for customers is central to our purpose. We maintain robust controls and act with integrity in every customer interaction. Our decisions are guided by a clear understanding of customer needs, and we take proactive steps to prevent foreseeable harm. By communicating clearly and responsibly, we support customers in making informed and confident financial decisions, reflecting regulatory expectations and OSB’s commitment to responsible lending.

Compliance and Responsibility

Compliance with legal, regulatory and industry requirements is essential to maintaining our credibility and the confidence of our stakeholders. We safeguard confidential information, protect company assets, and use resources responsibly. Accurate and transparent reporting of financial and operational data supports effective governance and strengthens stakeholder trust. The Group’s commitment to appropriate risk management and governance underpins our reputation and long term sustainability.

Addressing Business Ethics Risks

We actively identify and address ethical risks that may affect our operations, and we take proactive measures to mitigate exposure to unethical behaviour. This approach supports resilient and responsible business practices, consistent with our wider sustainability and governance objectives.

We maintain strong controls to promote ethical compliance, including monitoring systems, internal controls and disciplinary procedures. These safeguards help prevent misconduct and reinforce our expectation that all employees act responsibly and in line with our values.

Incident Management

When issues do arise, the Group follows clear and structured procedures for investigating and resolving incidents. All concerns are taken seriously, investigated thoroughly and managed fairly. Lessons learned are incorporated into our processes to strengthen our ethical framework and prevent recurrence.

Managerial Responsibility

Managers have a critical role in upholding our ethical standards. They are expected to lead by example, foster an environment where colleagues feel safe to speak up and take prompt, appropriate action when concerns are raised. Ethical leadership at every level supports a strong and accountable culture.

Board Oversight

The Board sets the tone from the top, establishing clear expectations around values, ethics and culture. Through strong governance and effective oversight, the Board supports the Group’s long term sustainability, ensuring that our conduct and decision making reflect the standards expected of a responsible, specialist financial services provider.

Diversity, equity and inclusion

We recognise the benefits that diversity brings to the business, and we actively promote and encourage a culture and environment that values and celebrates our differences.

In 2025, we continued our journey to become a truly diverse and inclusive organisation which is committed to providing equal opportunities through the recruitment, training and development for all employees.

Board and Executive gender and ethnicity disclosures

¹ Includes all UK and OSB India colleagues. Senior managers are employees within the Grade A to E population.

² The gender and ethnicity data is based on employees under contract at 31 December 2025.

Gender

Our published 2025 Gender Pay Gap Report shows the Groups mean gender pay gap of 5 April 2025 was 35.5% (2024: 36.1%).

We recognise the need to improve our gender balance and have remained focused on our published commitment as a signatory of HM Treasury’s Women in Finance Charter (WIFC) for 40% of senior management positions within the UK undertaken by female employees by the end of 2026. As detailed within our 2025 WIFC Submission, the majority of senior vacancies which emerged in 2025 related to specialist technical positions sitting within our IT and Transformation functions. Candidate pools for these were predominantly male, presenting a challenge in identifying a significant volume of female candidates. Around a third of senior roles closed in 2025 were filled by female external candidates, resulting in an end of 2025 position of 35.7%, slightly below the 36.1% reported at the end of 2024.

Ethnicity

The Group applied a continued focus in the year to enhancing ethnicity diversity, particularly in respect of the senior management population. The proportion of senior managers identifying as non-white increased to 16.8% at the end of the year (2024: 15%). In line with the Parker Review applicable to all FTSE350 companies, we remained focused on increasing ethnic diversity amongst the Executive Committee and those one level beneath who report into Executive Committee members. Our target is to achieve 14% by the end of 2027 from a 2024 position of 11%. Our 2025 figure of 15.4% demonstrates the progress that has been made.

DE&I Initiatives

DE&I initiatives increased across the Group, including employee communication and events enhancing awareness and celebrating our differences. These were often aligned with the dates of national events such as Pride, Black History Month, National Inclusion Week and International Women’s Day, with related activities being coordinated by the internal ‘Our Diversity Network’ made up of passionate volunteers. Over 1400 colleagues (61.5%) participated in our annual Group-wide internal Inclusivity Survey. Whilst our UK survey score reduced by around 1% compared to 2024, the OSB India scores increased by around 4% with the results providing insight as to where additional focus can be applied to further enhance inclusivity throughout the Group.

Diversity Data

We continue to focus on capturing diversity data from our UK and OSB India colleagues. At the end of 2025 colleagues had submitted almost 68% of requested data spanning 14 separate categories with OSB India colleagues having submitted around 73% of requested data.

OSB India

OSB India, which is a wholly owned subsidiary of the Group, is based in Bangalore and Hyderabad, and at the end of 2025 had 1,031 (2024:949) employees. OSB India supports the Group across various functions including Support Services, Operations, IT, E-Labs and Finance. In compliance with the Modern Slavery Act, OSB India does not support excessive overtime and all employees in India are encouraged to work in accordance with local legislation. Employees are based in our modern Bangalore and Hyderabad offices and are provided with a range of benefits which include 22 days of annual leave, 12 days sick leave and cafeteria services.

Discrimination statement

The Group is committed to fostering a work environment where every individual feels respected, supported and able to thrive. We maintain a zero tolerance approach to all forms of discrimination, harassment, bullying and victimisation, whether verbal, physical or non‑verbal. Our culture is built on fairness, integrity and respect principles consistently reflected throughout the Groups wider governance and people commitments.

Our policies are designed to ensure equal opportunity at every stage of the employment lifecycle, including recruitment, development, performance management, communication, organisational change and when individuals leave the Group. We are committed to creating an inclusive workplace for all, regardless of socioeconomic background, sex, race, age, disability, religion or belief, sexual orientation, gender identity, pregnancy or marital status. These commitments align with our broader responsibility to deliver positive outcomes for colleagues and communities, as outlined in our strategic reporting.

Where concerns arise, we have clear procedures for early, fair and effective resolution, including mediation and disciplinary processes where required. Our internal frameworks promote constructive dialogue and support colleagues in identifying meaningful outcomes that address issues promptly and sensitively.

We continually monitor progress and equity across the organisation through leadership accountability, strategic action plans and regular employee feedback. Our annual Group employee survey provides important insight into how inclusive our environment feels and where further improvements can be made. This approach is consistent with the Groups commitment to strong governance, people focused culture and continuous improvement.

We are also dedicated to reducing gender and ethnicity pay gaps and embedding inclusive practices across all areas of the Group. Our approach is guided by internationally recognised standards, including relevant International Labour Organisation (ILO) conventions, the UN Global Compact and the Universal Declaration of Human Rights frameworks that align with the Groups broader sustainability and ethical commitments.

We work collaboratively with employee networks, external partners and internal stakeholders to ensure that our policies reflect best practice and support a fair, inclusive and respectful culture for everyone.

Freedom of association statement

The Group is committed to upholding internationally recognised labour rights, including the freedom of association and the right to collective bargaining. We respect the right of every employee to join, leave, or engage with trade unions and workplace representation groups without fear of discrimination, retaliation or disadvantage. This commitment is consistent with the Group’s broader focus on responsible stewardship, fairness and respect for colleagues.

As part of our adherence to the UN Global Compact and the International Labour Organisation (ILO) Core Conventions, we support fair labour practices across our operations and wider value chain. These principles align with the Group’s strong governance foundations, as reflected in our sustainability and annual reporting. We comply with all relevant legislation, including the UK Modern Slavery Act 2015, and operate in accordance with the International Bill of Human Rights. We respect the rights of employees to be represented by trade unions and work councils.

Our recognition agreements ensure elected union representatives can perform their roles without loss of salary or benefits. We maintain open dialogue through regular meetings, joint statements, and collaborative forums focused on employee wellbeing, sustainability, and workplace safety.

Group health and safety policy

The Groups policy outlines our approach to identifying and meeting legal obligations, identifying and managing risks and creating a safe environment for employees, customers, and other stakeholders. Risks are assessed across the Group on an annual basis. Training is provided for all employees. We routinely evaluate our controls to verify their effectiveness. An accountable Executive is responsible for the Health and Safety policy, which undergoes an annual review prior to Operational Risk Management Committee approval. Management information is provided to Committees and the Board.

In 2025, there were zero lost-time incidents The total injury rate was 4.77.

Human rights and labour rights statement

The Group is committed to protecting and promoting the human rights of every employee, fostering a working environment built on dignity, equity, respect and inclusion. Our approach aligns with internationally recognised standards, including the Universal Declaration of Human Rights, the International Labour Organization (ILO) Conventions and the principles of the UN Global Compact. These standards underpin our broader commitment to responsible governance and ethical practices across the Group.

We maintain a zero tolerance approach to discrimination, harassment, forced labour and child labour. Within our organisation, we actively promote equal opportunity, fair compensation, safe and healthy working conditions and freedom of association. Every employee has the right to be treated with respect, to raise concerns without fear of retaliation and to thrive in an inclusive and supportive environment. These expectations are consistent with the Groups wider people focused culture and sustainability commitments.

Our Human Rights Standard applies across all levels of the Group, and we expect every colleague to contribute to a culture of integrity and inclusivity. We regularly review and strengthen our practices to ensure they continue to reflect the highest ethical and professional standards. This includes maintaining robust controls to prevent exploitation, ensuring that no form of forced or child labour is permitted within our operations or supply chain.

Employees are entitled to fair wages, reasonable working hours and safe, healthy workplaces. We respect the right to freedom of association and collective bargaining and support employees in voicing concerns or engaging in dialogue without fear of reprisal. These principles reflect our broader governance approach and our commitment to delivering responsible and sustainable outcomes for colleagues and communities.

Equal opportunity and non discrimination remain central to our human rights and labour rights commitments. We strive to ensure that every colleague can succeed regardless of background or personal characteristics. The Group continually monitors and improves its practices, ensuring that our labour standards are upheld consistently and that our culture remains fair, transparent and inclusive. This commitment supports the delivery of long term value and reinforces our responsibility to safeguard the rights and wellbeing of every member of the OSB Group.

Learning and skills

Transforming how we learn and grow in our careers is a critical part of our People Strategy.

In 2025, learning continued to play a pivotal role in supporting our transformation strategy equipping colleagues with the skills, mindset and confidence to deliver for customers in a fast evolving financial landscape. Progress was made in the way we deliver, manage and promote learning across the organisation. Initiatives delivered in 2025 include:

• Improved mandatory learning relevance through enhanced content and targeting. Mandatory learning focuses on key topics such as employee conduct (including diversity, equity and inclusion, the environment, energy use and climate change), consumer duty and customer vulnerability, cyber security and data privacy, financial crime including anticorruption and fraud, whistleblowing, risk and compliance, modern slavery, health and safety and anti-money laundering.
• Introduced learning to support a new approach to goal setting, performance and reward, with 1,495 colleagues taking part ensuring colleagues understand new outcome-led expectations.
• Launched a new Learning Management System, with Cornerstone providing enhanced content and more intuitive experience for colleagues.
• Delivered a summer campaign on critical skills, aligning learning with business priorities and future capability needs with a 27% uplift to over 657 colleagues engaged in agile, data or tech journeys.
• Introduced new Future Fit leadership learning framework with 498 leaders taking part in the launch. We are investing significantly in coaching skills as a key capability for transformation.
• Senior Executives participated in Agile Value Stream model learning ahead of a six month ‘Leading with AI’ and Insight programme for our SLT in partnership with Cambridge Spark and Cambridge Judge Business School.
• Expanded our learning content portfolio with new partnerships, increasing access to high quality learning across technical, leadership, and behavioural areas enabling all colleagues to explore learning that is more relevant to their roles and aspirations.
• Continued our partnership with WDI Consulting to deliver the Group’s Women in Leadership initiative, supporting female managers and senior leaders with their individual progression pathways. In addition 35 female future leaders continued a Women in Leadership Apprenticeship Scheme, launched in partnership with Raise the Bar.

As a committed member of the Financial Services Skills Commission (FSSC), we are focusing on how we understand, develop and mobilise skills so that we gain a clear, dynamic view of the capabilities we have today and the capabilities we will need tomorrow. This aligns precisely with the FSSC maturity model, which identifies skills visibility, proficiency and portability as critical enablers of sustainable workforce transformation.

From a colleague perspective, this gives clarity, confidence and mobility. Colleagues understand what ‘good’ looks like, can see how their skills transfer across roles and functions, and are better equipped to navigate non-linear careers. This supports attraction, retention and engagement in a highly competitive skills market. From an organisational perspective, being skills-led enables more informed strategic decisions like workforce planning, targeted investment in critical and future skills, faster redeployment and reduced dependency on external hiring and stronger resilience to regulatory and market change. This is a progressive maturity journey where we are establishing strong foundations with our job family architecture going live at the start of 2026, making skills visible and usable for colleagues, and embedding skills into learning, career pathways and decision making over time.

The early outcomes of our investment in future-fit learning and skills in 2025 include:

• Engagement with learning has grown steadily for the Group throughout the year, with strong uptake of new leadership, performance and critical skills programmes recording over 93,700 hours (13,386 days). 48,026 hours were delivered in the UK and 45,692 hours in India.
• Feedback from Learning at Work Week highlighted greater confidence in navigating new systems and increased awareness of learning opportunities.

OSB Group gender pay gap report

Our 2025 Gender Pay Gap Reports for OSB and CCFS can be found below and for both OSB and CCFS, the gaps relate to the structure of our workforce and reflect the fact that we have more men than women in senior roles and more female employees undertaking clerical roles. We continue to make progress across the Group and we are committed to reducing these gaps further.

We achieved our previously published commitment as a signatory of HM Treasury’s Women in Finance Charter (WIFC) of 33% of senior management positions within the UK undertaken by female employees by the end of 2023 and increased this to a commitment of achieving 40% by the end of 2026.

2025 Update

As at September 2025 and just over halfway through our renewed commitment period, our WIFC percentage stands at 35.8%.

When OSB first signed up to the Women in Finance Charter (WIFC) in January 2017, there were 16 female employees undertaking senior management positions out of a population of 67 (23.9%).

At the end of 2020, the Group published an increased target that by the end of 2023, 33% of UK Senior Management positions would be undertaken by female employees, which was subsequently achieved.

Our current target is to reach 40% UK Senior Management positions would be undertaken by female employees by the end of 2026.

Just over halfway through our renewed commitment period, we have improved from 33% to a current position of 35.80% however require further considerable progress to achieve 40% by the end of 2026.

The majority of senior vacancies which have emerged in 2025 have related to specialist technical positions sitting within our IT and Transformation functions. Candidate pools for these roles have been predominantly male, therefore presenting a challenge in identifying a significant volume of female candidates.

Of the senior vacancies which have been closed in 2025 with an externally appointed candidate, 31% (8 of 26) have seen a female appointed, which has not enabled significant progress towards the achievement of our published target.

Whilst the Group has and will continue to always make promotion or recruitment decisions based on performance, competence and expertise, we continue to strive to identify diverse candidates for senior vacancies, with a requirement detailed within our Recruitment and Selection Policy that for all senior management vacancies, at least one suitably qualified female candidate must be subject to face to face interview.

Our Policy also details that before an offer of employment can be progressed, any exceptions to this requirement require Executive approval, with an expectation that exception requests won’t be submitted until a vacancy has been live for at least 90 days in order to ensure that there has been an appropriate period of time for female candidates to be identified.

Additionally, an existing senior female employee is required to be part of the selection process for all senior recruitment processes, to minimise the risk of potential unconscious bias and to reflect a positive gender focussed culture to candidates being interviewed.

Through our Diversity, Equity and Inclusion Specialist, we continue to identify and implement activities which raise awareness of, and support gender diversity, and have made significant enhancements to our family and health related benefits, aiding the retention of female employees and helping us to attract female candidates to consider employment opportunities within the Group.

These enhancements included increases to paid Maternity and Adoption Leave, Fertility Leave, Neonatal Leave, Miscarriage Leave, Carer Leave, Emergency & Dependent Leave and the provision of fully funded Reproductive Health Support. We have also signed up to the ‘Employers with Heart’ Charter and are investing in ‘Careers After Babies’ Accreditation, which will involve an external review of our policies and procedures through the lens of women returning to the workplace after an extended absence.

Separately, we’re proud to have strong female representation at senior committee level, whereby 4 out of 9 OSB Group Board are female, as are 36% of our Group Executive Committee, including our Chief Financial Officer and Chief People Officer.

As of 2025, 12.4% of the Groups UK workforce self-identified as having a physical or neurodivergent disability. The Group continues to promote inclusive recruitment practices and workplace adjustments to support employees with disabilities, in line with its commitment to diversity, equity, and inclusion.

Sexual harassment policy

In 2024, the Group introduced a sexual harassment policy that plays a vital role in ensuring a secure and respectful working environment. This policy is relevant to all employees and contracted staff in the UK connected to the Group.

Additionally, it complements the OSB India Prevention of Sexual Harassment policy, which addresses obligations in India. The policy articulates a clear definition of sexual harassment, describes the reporting mechanisms, and specifies the potential disciplinary actions for any violations.

Trans inclusion and gender identity policy

The Group is dedicated to fostering equal employment opportunities and creating a supportive and inclusive workplace, irrespective of gender identity. In alignment with the Gender Recognition Act 2004 and the Equality Act 2010, the Group has implemented a policy focused on trans inclusion and gender identity, which safeguards the rights and dignity of transgender and non-binary individuals.

The policy is relevant to all employees and contracted staff and outlines the procedures for reporting incidents and shares the possible disciplinary measures that may be imposed for any infractions; supporting the Group’s commitment of ensuring inclusivity, respect, and the protection of individuals from discrimination based on their gender identity.

Whistleblowing

The Group is committed to maintaining the highest standards of openness, integrity and accountability across all areas of our business. In line with this commitment, we encourage all employees, partners and stakeholders to raise any concerns about actual or suspected wrongdoing in the workplace. This includes concerns relating to unethical behaviour, breaches of policy, or improper conduct. Our whistleblowing arrangements are designed to ensure that concerns are handled fairly, consistently and with full protection for individuals who come forward. Employees do not need to meet any minimum length of service before raising a concern.

The Group expects all third parties and employees to maintain robust whistleblowing processes, but any person concerned about unethical working practices, or a breach of the whistleblowing conduct may report their concerns on a confidential basis by email to whistleblowing@osb.co.uk or employees and Group partners can call the Protect Advice Line on +44 (0) 20 3117 2520 or email whistle@protect-advice.org.uk.

To support a thorough investigation, individuals are encouraged to provide as much relevant detail as possible. Employees can raise their concerns about wrongdoing or malpractice within the Group, without fear of victimisation, subsequent discrimination or dismissal. We recognise that whistleblowers may be worried about possible repercussions from raising a concern and will only be prepared to raise their concerns on an anonymous basis. We commit to investigate anonymous allegations as thoroughly as possible taking remedial action where necessary.

Third parties are widely encouraged to ensure their employees and sub-contractors feel supported to contact their whistleblowing hotline. Third parties should make employees aware of how they can report issues within the supply chain. Third parties shall not take any form of retaliation or discriminatory actions in response to good faith reported breaches.

As a regulated entity, the Group reminds all individuals including those within our supply chain that they may report concerns directly to the Financial Conduct Authority (FCA) and/or Prudential Regulation Authority (PRA). While employees are encouraged to raise concerns with the Group first, this does not prevent them from making a protected disclosure directly to the regulators