Statement from Chair of the Remuneration Committee of Post Office Limited

As current Chair of the Remuneration Committee of Post Office Limited, I have commissioned an immediate review into the awarding of payments relating to support given to the Horizon IT Inquiry in the Transformation Incentive Scheme in 2021-22.

The scope of the investigation is to ensure that the Remuneration Committee’s policy for rewarding executives, and its implementation, is consistent with corporate governance best practice.

The review will be led by Amanda Burton, who joined Post Office Limited as a Non-Executive Director on 27 April 2023 as part of a planned succession to Chair the Remuneration Committee.

The review will report at the earliest opportunity with its findings and recommendations to be shared with the Secretary of State for Trade and Business.

As Chair of the Remuneration Committee I repeat the unreserved apology for the mistake and the way it was stated in the Annual Report for 2021-22.

Lisa Harrington, 9 May 2023

Notes:

Amanda Burton has been a Non-Executive Director of a number of public, private and charitable organisations over the past 25 years and has chaired several Remuneration Committees, most recently Countryside Partnerships plc and HSS Hire Group plc.