#Gender pay gap report The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 require all employers with 250 or more employees to publish specified gender pay gap data. Swann-Morton Limited has calculated the required figures and at the snapshot date of 5 April 2022, our gender pay gap data was as follows: ##The mean gender pay gap is 29.7% This means the difference between the average hourly pay of men and women, expressed as a percentage. ##The median gender pay gap is 23.6% This means the difference between the median hourly pay of men and women, expressed as a percentage. ##The mean gender bonus gap is 29.7% This means the difference in average bonus payments received by men and women, expressed as a percentage, and reflects the mean gender pay gap since our bonus payments are salary-based. ##The median gender bonus gap is 23.6% This means the difference in median bonus payments received by men and women, expressed as a percentage, and reflects the median gender pay gap since our bonus payments are salary based. ##The proportion of both male and female employees eligible for a bonus is 100%. ##Employees by pay quartile

##Explaining the gender pay gap As an engineering and manufacturing company, the routes of progression through the company have traditionally begun in production and technical areas. Historically, these areas have been almost exclusively male, and this is still the case today, not only at Swann-Morton but throughout our industry sector. This is the crucial factor that needs to be taken into consideration when seeking to understand our gender pay gap. Band A above includes all our directors and senior managers, the majority of whom are men who began working at the company in technical and production roles and progressed into management. ##Reducing the gender pay gap Swann-Morton Limited is proud to be an equal opportunities employer and does not discriminate on the grounds of sex, race, religion or belief, age, marriage or civil partnership, pregnancy or maternity, sexual orientation, gender reassignment or disability. We strive to pay employees equally for the same or equivalent work regardless of their sex or any of the other characteristics set out above. We recognise that our gender pay gap remains significantly above average, and that although there have been some small improvements, much remains to be done. ## Our commitment to closing the gender pay gap Swann-Morton is committed to fostering inclusion, passion and commitment and collaboration within our organisation. One of the ways we do this is by reporting our gender pay gap data. Reporting annually is our way to ensure that we remain on track with our target to continue reducing this on a yearly basis. ## Our gender pay gap The gender pay gap is calculated by taking all employees across an organisation and comparing the average pay between men and women. This means that even though we have externally benchmarked salary ranges in place for all jobs, to ensure that everyone is paid fairly for undertaking the same or a similar role, it’s still possible to have a gender pay gap. Since 2017 our mean gender pay gap has dropped 6.9% and our median has dropped 10.3%. Both figures are the lowest it has been since reporting began. Closing the gender pay gap is not a quick and easy fix. It requires a meaningful, consistent, and sustained shift in cultural norms. We are taking steps to ensure that we close this with our family friendly annual leave terms and parental leave policies.