Modern Slavery Statement

Year ending 31^st March 2022

Introduction

This statement is made pursuant to section 54 of the Modern Slavery Act 2015. It constitutes Prezzo Investco Limited (Prezzo) slavery and human trafficking statement for the financial year ended 31 March 2022.

Of Prezzo’s wholly-owned subsidiaries, this statement covers the activities of Prezzo Trading Limited which undertakes the trading activities of Prezzo.

Our Organisation

Prezzo is a UK based restaurant business with 151 locations through the UK. We use authentic Italian recipes to bring a touch of Italy to the UK.

We have 2848 employees in the UK who are directly employed, banked, have right to work and are not in any category which is generally seen to be vulnerable to modern slavery in this country, so our focus is to ensure there are policies and procedures in place for our contractors and suppliers.

Our Supply Chain

Prezzo is committed to continuously improving its practices to identify and eliminate any slavery and human trafficking in its business and supply chains, and to acting ethically and with integrity in all its business relationships.

Prezzo works with 975 suppliers/partners, who supply goods and services and support our operations:

• 150 - Property (landlords, estate management etc.)
• 143 – General (Utilities, Capital Equipment, Professional Services etc.
• 63 – Direct (Food, Beverages, Smallwares etc.)

Policies

Prezzo have policies in place or in development which aim to minimise the risk of modern slavery in our supply chain. These include:

• The Prezzo Master Services Agreement which all contractual arrangements are based on, within this agreement is clause 18:

• Each Party shall at all times comply with:
  • all applicable laws, regulations and sanctions relating to modern slavery and human trafficking including but not limited to the Modern Slavery Act 2015; and
  • any anti-slavery policy adopted by the other Party (and, for the Supplier, by any member of the Customer’s Group) from time to time.
  • Each Party and each member of the Customer’s Group shall implement and maintain during the duration of this Agreement due diligence procedures for its own suppliers, permitted subcontractors and other participants in its supply chains, to ensure that there is no slavery or human trafficking in its supply chains.
  • Each Party shall notify the other Party as soon as it becomes aware of:
    • any breach, or potential breach, of any anti-slavery policy adopted by the other Party (and, for the Supplier, by any member of the Customer’s Group) from time to time; or
    • any actual or suspected slavery or human trafficking in a supply chain which has a connection with this Agreement.

• Working with Suppliers and Partners Policy which sets out internal requirements for buying goods and services – In Development.
• Responsible Procurement Policy covering issues of human rights, child and forced labour and modern slavery, which Prezzo suppliers are required to comply with – In Development.

Due Diligence

We continue to monitor suppliers we believe present high modern slavery risks in our supply chain.

All suppliers which we class as high risk must:

On an annual basis and prior to sourcing, provide full detail of the supply chains they are proposing to commission goods from on behalf of Prezzo.

A Prezzo team formed of experienced Procurement and Technical personal is responsible for assessing the information submitted by suppliers.

Should a supplier fail to provide the information requested or to meet Prezzo expectations, Prezzo will take appropriate action, which may include not entering a relationship or terminating the relationship with the supplier concerned.

Looking Ahead

Over the course of the next financial year we will continue to enhance our procedures to help us identify, prevent and mitigate any risks of modern slavery or human trafficking in relation to new and existing suppliers.

We will Implement the Working with Suppliers and Partners and the Responsible Procurement Policies.

Approval

This statement has been formally approved by the Board of Directors of Prezzo Trading Limited and signed on their behalf.