Our Sustainability Agenda

At Glenveagh, we plan and contribute to sustainable communities, meet and exceed our environmental obligations, and sustainably integrate with our supply chain.

We have embedded in our business a greater awareness, training, accountability and responsibility in our actions, measuring and reporting of our progress to ensure the achievement of sustainable environmental targets.

✓ Retaining talent
✓ Equal opportunities
✓ Diversity and Inclusion

Key to scaling the business has been people. Growing the company from 75 employees at IPO to over 330 today required the creation of a culture which not only empowered talent but which also embraced equal opportunities, diversity and inclusion.You can view or download our People policies here.

1.1 Diversity
We have a healthy gender balance ratio compared to the industry average (Glenveagh 19% female, Industry average 5.5%). Glenveagh works closely with the Construction Industry Federation ("CIF") on initiatives to encourage female participation in the industry and sponsored the CIF's "International Women's Day Conference" in 2019 and will do so again in 2020. At Glenveagh, we encourage an inclusive culture where employees have a voice and are valued. Glenveagh participated in Diversity Day 2019, which provided diversity and inclusion workshops for all managers. We will again be carrying out Diversity and Inclusion training in 2020. We have also signed up to the CIF Diversity Charter intending to gain bronze accreditation in 2020.

1.2 Employer Of Choice
At Glenveagh, we are committed to having a great place to work for our people. We carry out annual employee surveys to ensure engagement with employees and encourage frequent participation through line management. We work on the lowest scoring areas to improve in these areas and also focus on our highest scoring areas to ensure we maintain these results.

In a market of full employment and skill shortages in the construction industry, we are focused on attracting and retaining talent. We have developed a competency framework to support the hiring and development of staff and have put in place formalised career paths to attract and retain key talent.

Glenveagh has formalised training and CPD programmes to enable employees to achieve their highest potential and contribute to the Group's future success, including:

• the Glenveagh Graduate Programme with 18 graduate attendees from across the business in 2020;
• the introduction of a Leadership Development Programme for senior and middle management;
• and internally designed Technical Construction Training Programmes for our site teams.

We reward people fairly and have competitive benefit and reward packages ensuring the commitment and retention of employees. These include health insurance, life assurance,a defined contribution pension scheme and a Save As You Earn share purchase programme allowing employees to share in the success of the Group. We continuously strive towards enhancing our employee value proposition.

To ensure our employees' health and wellness in the workplace, each year, we put together a wellness calendar which includes a range of health initiatives and programmes that are rolled out throughout the year. These include mental wellbeing initiatives, health checks and awareness programmes, training to support wellbeing and guest speakers on relevant issues. Glenveagh also provides a 24-hour Employee Assistance Programme service to all employees.

✓ Access to housing
✓ Innovative and sustainable design
✓ Sector leading customer service

Exceeding customer expectations is central to the Group's strategy of creating the leading home building platform in Ireland.

Built around the objectives of access, quality and innovation, our customer service offering has brought a new professionalism to the industry.

Despite there being no published benchmarks in Ireland we engage an independent external firm to survey our customers with our people's remuneration linked to achieving the equivalent of 5-star status in the UK.

You can view or download our Customer policies here and view our customer satisfaction ratings here.

The customer is core to our business, be that retail or institutional. At Glenveagh, we are committed to constantly evolving to deliver best in class product. The customer is central to our integrated planning and design approach. As part of this approach, we consider what our customers' requirements are in terms of:

• Public and private open space;
• Fit and finish;
• Layout;
• Natural surroundings; and
• Use of existing social infrastructure

We deliver best in class after-sales service, maintenance plans and meaningful warranties for our clients providing further peace of mind with the sale of our product.

We are focused not only on designing a residential unit or scheme that complies with regulations, but we also consider affordability in each locality in the context of the macroprudential regulations.

✓ At the core of what we do
✓ NISO – High Commended Award
✓ IOSH – T Cert Grade A

Health and Safety are at the heart of our operations. In 2019 the Group achieved a Highly Commended Award from NISO and a Grade A Safe T Cert. We believe there is always more that can be done in this area. As a market leader, it is incumbent on us to continue to drive the health and safety plan and the Group are currently implementing ISO 45001:2018 Occupational Health & Safety Management. Health and Safety drives an element of all senior management's variable remuneration with awards based on the results of site audits.

At Glenveagh, creating homes safely is at the core of what we do. Our main objective every day is to ensure that our employees, sub-contractors, suppliers and all those visiting sites come to work and go home from work safely. Senior management involvement is the cornerstone of health and Safety in Glenveagh. At Glenveagh we 'Walk the talk' and it is senior management being visible onsite that sets the standard and lead on Safety.

Health and safety training is a continuous process and investing in the competency levels of all staff; mainly site staff is a crucial commitment Glenveagh makes to its people. In-house training for staff is provided in:

• Manual handling
• Abrasive wheels
• Working at height
• Fire training
• Toolbox talks

Also, external training consultants are brought in to provide further training in manual handling and Safe Pass and Plant safety (CSCS). When we identify an area of competencythat we need to increase or supplement, staff are provided with the appropriate level of training.

Planning is the key to the success of health and Safety in Glenveagh, and this is best demonstrated through our daily site whiteboard meetings at which a safe plan of action for the day's activities is agreed.

Glenveagh is also investing in technology to assist with our health and safety initiatives. TAG is a biometric time and attendance software that ensures only pre-qualified and competent people are allowed access to sites. The person gaining access to the site has to have their certification and induction up to date and reflected in TAG before the software will allow them access. Additionally, this software enables Glenveagh to de-risk health and Safety onsite by controlling who is onsite at any point in time and provides data to be able to assess resources to ensure only people that need to be onsite are provided access.

The progress Glenveagh has made and the efforts we have gone to from a health and safety perspective were recognised in 2019. In our second full year of operations, Glenveagh was awarded a "Highly Commended" certificate by the National Irish Safety Organisation at the 28th Annual Occupational Safety Awards 2019. In addition, we were also awarded Safe T-cert grade A in 2019 by the Construction Industry Federation. Being recognised for our health and safety policies and procedures indicates the strong progress we have made in the context of the number of sites we have open. However, Glenveagh recognises the need to constantly strive for the highest standards of health and Safety and are focussed on embedding an attitude of 'we can always do more' from a health and safety perspective.

You can view or download our Customer policies here and view our Health and Safety performance here.

"Safety is just massive with Glenveagh. It's just something that we all adhere to and we're all tuned into. It's good onsite but we're always trying to find a better way of doing things all the time with Glenveagh's help." (John Keenan - Director, Keenan Timber Frame)

Whiteboard meetings are completed on each site at the beginning of every day to agree on a safe plan of action for the day's activities. Every supervisor onsite, must attend these meetings. The objective of the meetings is to identify the hazards and risks associated with each area of work on the site. Examples of the topics discussed include:

• Interaction with sub-contractors
• Alterations to scaffolding
• Safeguarding of excavation and deliveries
• Crane setup

The whiteboard sessions are also an opportunity for any other challenges or concerns to be brought forward by supervisors and addressed.

"Every morning on site, we would have whiteboard meetings where all trades would come together and discuss what was happening during the day in terms of what each trade is doing. We would all be co-ordinated together to make sure Safety is at the top of the list. Everybody would be made aware of what is going on around the site in terms ofmachinery moving around and what is the highest risk for that day. I think it is very important because once employees are safe and understand what they're doing I think everything works better." (Alan Cribben - MD, Alan Cribben Electrical Ltd.)

✓ Public Infrastructure
✓ Community Initiatives
✓ Strong Transport links/park and cycle

Contributing to sustainable communities is a key feature of our approach to planning and design. In the near-term, the Group will commence works on our first urban brownfield regeneration project in Dublin's Docklands. This is the first project of its type to be delivered by the Group and forms part of a portfolio of over 2,000 urban brownfield units which will be delivered by the Group over the next five years.

As part of our commitment to placemaking, Glenveagh contributes to and provides public infrastructure as part of our development process. This may include playgrounds, access roads, public amenity areas, or financial contributions towards infrastructure etc. We believe it is both responsible and necessary that public infrastructure is a component of our construction methodology during our placemaking process.

Pat Glenveagh, we take a holistic approach to understand the needs and requirements specific to every development concerning the surrounding environment, public infrastructure, and amenity. As part of this process, we engage with public bodies, local communities and local authorities to ensure we consider all aspects of infrastructure provision, current and future.As part of the placemaking process, when considering our development, we initiate a process of understanding where existing public infrastructure is located (public parks, transport links, retail business, schools, play facilities, etc.). During this process, we build in links and permeability to infrastructure nodes while also, if required, providing elements of the infrastructure ourselves if a deficit exists.

We engage with the community to consider sustainable infrastructure provision as part of our regular development process on every scheme, including EV charging points, cycle lanes, connection to pubic cycle lanes and walking permeability.

✓ NZEB buildings
✓ Energy demand supplied from renewable energy
✓ Construction waste recycled or reused

The environmental sustainability of our housing is at the forefront of business decisions.

All houses and apartments delivered by the Group in 2019 had a BER rating of A3 or better and our efforts in providing sustainable energy-efficient homes are replicated in reducing the environmental footprint of our operations. Initiatives to date have included the introduction of electric vehicles, the use of recycled materials onsite and minimisation of waste across the business. Glenveagh has also commenced the implementation of ISO 14001:2015 Environmental Management System.

Quality control is integral to how we procure and run our sites. High-risk materials such as stone, concrete, block, and mortar are certified at source with additional random sampling and testing carried out in the field. All materials are sent to design teams for approval prior to use and must carry a DOP or CE mark. As part of our ongoing training and development, we provide Building Control (Amendment) Regulations (BCAR) training for all of our employees involved in this process and quality assurance training in relevant departments.

You can view or download our environmental policies here

Glenveagh is continually innovating our design, operations and materials principles to push further beyond current building regulation to ensure our environmental plan is central to all developments in the business. For example, we are now focused on "beyond-NZEB (Nearly Zero Energy Building)" standards in the product we are delivering. The keyto us building to this standard is attention to detail during the design and construction process and the use of renewable technologies in our homes, for example, heat pumps.

We use heat pumps as standard as a renewable source of energy production in our homes. This is an environmentally sustainable form of energy generation while also offering a convenient system of heating the home for our consumers. The holistic approach we take to our overall development process to include our insulation measures, airtightness detailing and quality of materials results in our homes deriving their considerably reduced energy demand solely from a renewable generator, the heat pump.

Glenveagh understands that we are uniquely positioned to be a leader in environmental sustainability for the construction industry in Ireland. To achieve this, we embed in the business, greater awareness and training, accountability and responsibility in our actions and measuring and reporting of our progress to ensure sustainable environmental targets are achieved. Environmental practices being implemented in 2020, including the implementation of ISO 14001 that specifies requirements for an effective environmental management system and ISO 45001 related to Occupational Health and Safety. Carbon reduction projects including a strategy to move towards electric vehicle usage within the business, associated mileage reduction and establishing a baseline for the carbon footprint. Also, Glenveagh works with accredited waste recycling services to ensure that our targets for reduction in landfill and increase in recycling targets are achieved.

At Glenveagh, we are committed to placemaking for our customers. We consider the architecture and biodiversity of the surrounding environment to ensure we are representing this appropriately in our schemes. We aim to provide projects which fit in with the surrounding natural environment while leveraging public open space and the existing infrastructure.

✓ Sustainable offsite manufacturing
✓ Material certification
✓ Supply payment terms reflect sub-contractor partnership mentality

Materials suppliers Glenveagh takes a partnership approach with our supply chain by emphasising the ability to provide suppliers with a clear roadmap of annual targets and multi-phase projects. This gives suppliers the confidence and line of sight to allow them to scale their business in a stable and secured way.

To mitigate the effect of restricted credit amongst our supplier and subcontractor base, we decided to centrally procure the vast majority of the high-value items required for the construction process such as heat pumps, sanitary ware, insulation and plasterboard so as minimise the administration for sub-contractors.

There are many advantages of maintaining a substantial approved supplier base from ensuring healthy competition during our procurement process with a view to minimising cost price inflation to facilitating our scale and having the ability to open multiple sites simultaneously. In addition to ensuring that the best price is achieved Glenveagh also focuses on ensuring the suppliers we partner with are aligned with our values and our sustainability agenda.

Our substantial approved subcontractor base and the utilisation of our MEAT (Most Economical Advantageous Tender) analysis ensures that we achieve alignment with our values and our sustainability agenda. Utilising our MEAT analysis process, we ensure that we are assessing a range of competencies of suppliers including:

• health and safety;
• resources and ability to meet program;
• product and materials sourcing; and
• quality standards

Our ability to bulk buy and enter into long term agreements has multiple benefits:

• higher quality material at a very competitive price ultimately providing a better product for our clients;
• ability to accurately control material costs for the duration of projects by minimising material inflation;
• assist in streamlining operations for our suppliers by reducing the number of spares they may have to carry and coordinating deliveries ultimately driving better value; and
• ultimately we can maintain and manage a sustainable supply chain as we grow.

By centralising our procurement, we get the benefit of a portfolio focused procurement strategy and avoid a silo approach from each site. We can ensure consistency onsite bystandardising the products reducing coordination issues, and streamlining training requirements. We can coordinate and manage logistics ensuring just in time deliveries and minimise our carbon footprint by mitigating against multiple shipments. Finally, to grow our supplier network and provide local employment where possible, we work with local suppliers.

"They are very competent at what they do. They adopt a very professional attitude and we enjoy a close working partnership with, their procurement team and site personnel. When we have that knowledge of the 20 sites and more to come, it allows us to also achieve economies of scale so that we can deliver cost savings. When you're dealing withone procurement team, you build close working relationships, and an understanding of each other's work practices, requirements and style." (Rory O'Hanlon – MD, Davies Ltd, Grafton Group)

Our multi-phase approach to projects gives sub-contractors the confidence to scale their business as they have line of sight of our annual targets and deliveries. Our centralised procurement approach reduces credit risk and provides security to subcontractors to plan and grow their own businesses.

Knowing that Glenveagh has the ability to pay, and pay on time, gives our subcontractors the security to plan and grow their own businesses. This mitigates against subcontractors requiring expensive sources of finance like invoice discounting and helps to ensure that our partners not only meet but exceed our requirements, including Health, Safety, Environment, Program, and Quality.

Our subcontractors now understand the Glenveagh Way. These are our standardised processes and procedures that we utilise across our sites, including:

• site set up;
• health safety and environmental requirements;
• procurement and valuations processes; and
• logistics planning and coordination meetings.

By ensuring consistency across our sites our expectations and requirements are clearly set out and our required standards achieved.

By utilising our value proposition we have and continue to attract a significant number of competent sub contractors. In the period from October 2018 to December 2019 alone we have been able to add 191 partners to our tendering process.

"When I first started in 2014 it was myself and another engineer so working with Glenveagh the last couple of years has allowed me to grow, has allowed me to employee people. When I'm planning with Glenveagh, I'm planning not just for this year, but next year and the following year and a lot of the projects I would be working on would be three year programmes because there are only so many houses you can deliver in a year on a particular site. So for me there's Safety when I'm talking about employing somebody I say here's the project and this is a three year project so if you stay with me I know we're ok for the next couple of years from a financial point of view." (Paul McGrail – Director, Paul McGrail Consultant Engineers)