How the Team Invests

The Company’s Portfolio Manager, OrbiMed, is guided by its Responsible Investing Policy in its approach to integrating environmental, social and governance (ESG) issues into its investment processes. The Portfolio Manager seeks to invest in innovative healthcare companies that are working towards addressing significant unmet medical needs, across biopharmaceuticals, medical devices, diagnostics, and healthcare services sectors, globally.

OrbiMed believes that there is a high congruence between companies that seek to act responsibly and those that succeed in building long-term shareholder value. The Portfolio Manager seeks to integrate ESG into the overall investment process, with the objective of maximising investment returns. Investment decisions are based on a variety of financial and non-financial company factors, including ESG information. OrbiMed has appointed a Director – ESG to oversee the integration of ESG analysis.

As a responsible investor, OrbiMed negatively screens potential investments and business sectors that may objectively lead to negative impacts on public health or wellbeing. The importance of robust governance and social safeguards in healthcare has grown significantly; regulators and investors are increasingly scrutinising financially material ESG issues such as clinical trial transparency, equitable access to therapies, and pricing practices. Governance issues, including board structure and executive pay are also financially relevant. For companies which do not have manufacturing and are focused on drug discovery and development, environmental factors such as greenhouse gas (GHG) emissions are not generally regarded as financially material. The Portfolio Manager generally utilises healthcare sector-specific guidance from the Sustainability Accounting Standards Board (SASB) and in-house analyses to guide its selection of material ESG factors as part of its investment research.

Healthcare and life sciences sectors are highly regulated, globally. Regulation is well established across developed markets and emerging markets for the sector. To that end, OrbiMed considers compliance with local laws and regulations as one of the factors in its investment evaluation. Depending on the investment, all or a subset of the ESG factors that are financially material and relevant are considered in OrbiMed’s research.

OrbiMed utilises ESG scores for public equity holdings from third-party service providers. To supplement the information from the third-party service providers, OrbiMed also conducts proprietary analysis on ESG performance. The scores from the third-party service providers are integrated with OrbiMed’s analysis onto a business intelligence platform via a programming interface, for regular monitoring. OrbiMed has developed an in-house ESG Controversies Monitor. Any hits from the Controversies Monitor require the analysts to provide their views on material impact.

OrbiMed also generally engages on a regular basis with its portfolio companies through meetings with management, proxy voting, and in some cases, through board representation.

OrbiMed’s analysts track financially material ESG information such as safety of clinical trials, drug safety, product safety, ethical marketing, call-backs and other materially relevant factors. As part of these efforts, OrbiMed engages with companies directly or through brokers, and facilitates dialogue and the exchange of leading practices among investors, companies, and other relevant experts on ESG in the healthcare sector.

The Portfolio Manager provides a periodic update on ESG to the Board of the Company.

The Company published its TCFD-based report on its website in September 2025. As per the guidance from SASB, climate change is not a material ESG consideration for the biotechnology and pharmaceutical, medical equipment and supplies and managed care sectors. However, energy management is noted as a material ESG concern for the healthcare delivery sector. To that end, OrbiMed includes the scores on energy management for the relevant sectors in its overall ESG monitoring.

Worldwide Healthcare Trust PLC (the “Company”) invests in the global healthcare sector with the objective of achieving a high level of capital growth. The Company and the Company’s Portfolio Manager believe that there is a high congruence between companies that seek to act responsibly and those that succeed in building long-term shareholder value.

The Board recognises that Environmental, Social and Governance (ESG) issues can impact the performance of investments. The Board holds detailed ongoing ESG-related discussions with the Company’s Portfolio Manager and also with its external advisers. Two Directors, one of which being the Chairman, lead and co-ordinate the Board’s approach to ESG matters. The Board has delegated authority to its Portfolio Manager to evaluate investee companies’ performance on material ESG issues and also to engage with the management of investee companies on ESG, and these matters are discussed with the Board at every meeting.