Page 4 - The Standard - April 2019

Brexit

What is the view from the Executive Committee towards Brexit on retaining our staff? My
team are looking for reassurances that they will still have a job and that they can stay in the
country. Will LEO be providing any support or further information to our employees on what
they should be doing.
49% of our workforce are from EU countries. Support will be provided as and when we
know more about what is happening with Brexit. Our expectation is that EU nationals will
be able to stay longer term.

How will Brexit affect the company in the future? Are there any forecasts for the industry?
Current occupancy (which includes a wide range of clients) is strong and enquiries are
coming through. Uncertainty can help us as companies do not want to sign up for 15-year
leases so this may benefit our industry with the flexibility it provides.

Remuneration
Have LEO been looking at salaries in comparison to competitors and similar industries, and
will LEO be looking to adjusting them?

Salary reviews (performance based) have been completed and come into effect in the April
payroll. These have been done at this time so that appraisal scores can be considered, as
well as LEO’s financial performance. Benchmarking has also been carried out, of role levels
and also of individuals.
How realistic is the EBITDA target for 2019 and how likely that we will achieve bonus for 2019
considering that the first quarter is coming to an end?
As at end of Q1, we are on budget for both revenue and EBITDA. This year’s overall target
is achievable, but it is going to need the support and performance of every part of the
organisation. Client retention will be key and the senior team is happy to support with any
important client conversations.

April 2019