We are passionate about improving the health and wellbeing of our customers, partners and people, as well as supporting diversity and inclusion in all forms.

• We are proud of our commitment to gender equality, including:

• A life insurance industry-leading gender pay gap, with WGEA data indicating our 2022-23 median total remuneration gender pay gap is 11.6% and the median base salary gender pay gap is 11.1%. Our pay gaps are lower than our Industry Comparison Group at 22.3% and 20.1% respectively, though we are committed to doing more. More details are available in our Workplace Gender Equality Reporting.
• Gender equality within our leadership where we aim to achieve 40:40:20 balance for both the Independent Directors of our Board, and our senior leadership cohort (i.e. 40% women, 40% men, and 20% of any gender).

• Wellbeing is a top priority and we offer flexibility and programs that empower our people to manage their mental, physical, social and financial wellbeing.
• We provide critical support for our people experiencing family or domestic violence through our Family and Domestic Violence Policy, which aims to develop a supportive workplace in which those experiencing or impacted by family and domestic violence can come forward for help and support; and guide the response of MLC Life Insurance and people leaders to employees and contractors whose work life is affected by family and domestic violence.
• We have delivered inclusive leadership training to our executive team, fostering a culture of belonging development and continue to provide leadership and related training to leaders in our organisation.
• We have policies in place to support our community, such as volunteer leave for all permanent employees.

At its core, our business provides Australians with peace of mind that their loved ones will be protected if the worst should happen. Beyond the intrinsic benefits of our business, we seek to ensure the benefits of financial advice, protection and other crucial financial services are extended to all Australians.

• Our Vivo health, wellness and recovery program supports our customers, partners and our people to live better lives and be better supported with their health.
• We seek to address the gender pay gap, superannuation gap and insurance coverage gap in Australia, for example, championing reform to support vulnerable people.
• We recognise that family and domestic violence is a serious issue within the community and that anyone can be a victim. We are committed to supporting our customers affected by family and domestic violence with practical support and a commitment to empathy, compassion and respect.
• Our Reconciliation Action Plan gives us the opportunity to progress our commitment to reconciliation and build our cultural capability as an organisation.
• We advocate on a range of social issues including addressing mental health, family and domestic violence, and inclusion awareness across the industry, through organisational membership in groups such as the Council of Australian Life Insurers (CALI), the Diversity Council of Australia and the Super Members Council/First Nations Foundation Indigenous Superannuation Working Group.
• We are working to establish the MLC Life Insurance Foundation which will support initiatives outside of our organisation which deliver a world that is sustainable for people, planet and the economy.
• We advocate for and believe high-quality, affordable financial advice should be accessible to all Australians, not just the wealthy.

We are committed to reducing our operational emissions by 51% compared to 2019 by 2030¹  and reaching Net Zero by 2050.

• We have transitioned half the energy requirements across our Melbourne and Sydney offices (covering over 93% of our people) to GreenPower from renewable sources.
• We have completed our enterprise Climate Risk Assessment in line with international standards and will annually review and enhance our risk assessment practice to capture a range of climate-related risks according to relevant Australian standards.²
• As part of the additional support provided to all customers with unique needs or who are experiencing vulnerability, we provide support to communities impacted by climate change through premium relief for impacted customers. For example, in 2020 and 2021, we waived premiums for families impacted by bushfires and floods.
• Our parent Nippon Life Insurance is a global ESG leader and have endorsed various initiatives to fulfill social responsibilities to contribute to the creation of a safe, secure and sustainable society, including UN Principles for Responsible Investment, the United Nations Global Compact, and the UN Net Zero Asset Owner Alliance.

¹ _{MLC Life Insurance emissions reporting has been consolidated with the Nippon Life Group since 2017. Our commitments have been developed in alignment with the Nippon Life Group commitment and international commitments, however in support of a local emissions reduction target, we are in the process of developing stand-alone calculations in line with Australian standards. Operational emissions includes material Scope 1 and Scope 2 emissions and we have achieved independent limited assurance over our 2022 and 2023 operational emissions. We continue to develop our Scope 3 emissions approach.}

² _{The 2024 MLC Life Insurance Climate Risk Assessment was undertaken with reference to the general principles of the standard developed by the Taskforce on Climate-related Financial Disclosures (TCFD). Future annual Climate Risk Assessments will be conducted in accordance with relevant standards developed by the Australian Accounting Standards Board (AASB).}

We are committed to ensuring our sustainability efforts extend to how we manage risk, our investments and how we govern our business for the greater good of our customers, partners and people.

As a leading life insurer, we played a key role in the development of the Life Code which includes over 50 new consumer protections for our customers.

• Our sustainability approach has oversight from our Executive team and Board and a dedicated team to support planning and implementation.
• Ongoing monitoring of our providers and suppliers for compliance with our policies as detailed in our Modern Slavery Statement.
• We are committed to the UN Principles for Sustainable Insurance (UNPSI). The UNPSI is a framework endorsed by the United Nations to understand and champion ESG opportunities and manage risk within the insurance sector. Our UNPSI Action Plan sets out our roadmap to adhering to and reporting on our progress against the UNPSI Principles.
• We are committed to transparency about our progress, including publication of our 2025 MLC Life Insurance Sustainability Report in accordance with the UNPSI Principles and other sustainability requirements.
• Our responsible investment commitments include the Tobacco-Free Finance Pledge and those set out in our Modern Slavery Statement. We continue to evolve our responsible investment approach with our asset managers and partners in line with our Sustainability Vision to operate in a way that is sustainable for people, planet and the economy.
• As a member of the UN Principles for Responsible Investment, our parent Nippon Life Insurance is committed to responsible investment through ESG investment and financing. Nippon Life has set 2030 Interim Targets for their investment portfolio, publishes a robust ESG Investment and Finance Report 2023 and the Nippon Life Transition Finance Framework.
• Nippon Life provides transparency and accountability about the activities of the group, including key sustainability measures, through publication of an annual Integrated Report.