s172 Statement

STATEMENT BY THE DIRECTORS IN RELATION TO THEIR STATUTORY DUTY IN ACCORDANCE WITH S172(1) COMPANIES ACT 2006

Under S172 of the Companies Act 2006 (the ‘Act’), directors of UK companies have a duty to promote the success of their company for the benefit of the members as a whole. The purpose of the strategic report within a company’s annual report and accounts has always been to inform members about how directors have performed their S172 duties. Over time, the Government noted that the content, format and overall quality of information presented in strategic reports published by different companies varied enormously. To address this, the Government added a requirement for all large companies to include a separate ‘S172 Statement’ in their strategic reports to improve consistency and quality.

The Board of Directors of Frontier has always taken its duties under S172(1) of the Companies Act 2006 seriously. The Directors consider that they have acted in a way that would promote the success of the Company, for the benefit of its members as a whole, in the decisions they have taken during the year ended 31 May 2024. In making this statement, the Directors considered the longer-term consideration of stakeholders and have taken into account the following matters:

• The likely consequences of any decisions in the long term;
• The interests of the Company’s employees;
• The need to foster the Company’s business relationships with suppliers, customers and others;
• The impact of the Company’s operations on the community and the environment;
• The desirability of the Company maintaining a reputation for the high standards of business conduct; and
• The need to act fairly between members of the Company.

Our business model and strategy, as set out in our Annual Report and Accounts, describe our approach to creating and publishing our content, which is at the heart of our stakeholder engagement, delivering long-term value to all of our stakeholders.

The Board considers Frontier’s key stakeholders to be players, employees, shareholders, and business partners and also acknowledges that there is a wider responsibility to the community in which the Company operates. The Group’s culture and employee welfare are a particular focus for the Company and display our people strategy and the working environment, as set out in our Annual Report and Accounts. Investor relations form part of the Board’s responsibilities and the many ways in which we communicate with our shareholders are shown in the Section 172 statement section of our Annual Report and Accounts. Our business partners share in our continued success, as explained in our business model and portfolio strategy section of our Annual Report and Accounts, along with our approach to social responsibility to the local community.