At Northern Trust Asset Management, we believe that by serving as an active owner we help portfolio companies produce sustainable value over the long term. Our active ownership approach involves engaging in regular dialogue with portfolio companies to confirm that they are delivering positive long-term investment outcomes for the benefit of our clients.

The fundamental precept followed by Northern Trust in voting proxies is to confirm that the manner in which shares are voted is in the best interest of clients/beneficiaries and will aim to maximize shareholder value. Northern Trust's proxy voting framework, as outlined in our proxy voting policies, procedures and guidelines, provide that the Northern Trust proxy committee will generally vote for or against various proxy proposals, usually based upon certain special criteria.

Encouraging Meaningful Information for Shareholders

Transparency and meaningful information are essential for shareholders to understand, evaluate and act in voting proxies and engaging companies for change.