RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

Our Stakeholders

At Rand Water Provident Fund, we champion mutually positive futures for our stakeholders and our business. Accordingly, we act ethically and with intent to ensure our core business activities create sustainable value for the members while also remaining cognizant of our impact in our communities and addressing the needs of broader stakeholders and the environment. Members: Our members are the lifeblood of our business, and we aim to be their first choice. Our member’s base is made up of all permanently employed Rand Water employees. Employer: Rand Water is the employer and the administrator of the fund. It is Africa’s largest water utility, having been in operation for 120 years. Water is primarily distributed via a 3 056km network of large diameter pipelines through which 58 strategically placed service reservoirs are fed. On an average peak day, only 4696 Mℓ/d is supplied against a demand of 5045Mℓ/d. Rand Water Provident Fund aligns with the objectives of the employer. Therefore, the employer’s objectives are cascaded throughout the organisation. Regulators: Other significant stakeholders include regulatory bodies such as the Financial Services Conduct Authority in the financial services sector, the South African Reserve Bank as the prudential authority, and the South African Revenue Services, as well as communities where Rand Water has a significant presence, industry bodies and our peers in the retirement sector. The Fund also has a number of vital contractual stakeholder relationships – for example with Investment Multi managers, our internal and external auditors, and our Consultants – whose skilled professional services are critical to our business. Our business is driven by a desire to improve retirement outcomes. The Fund seeks ways to deliver increased value to contributing members by using funds to create “value add”. We believe our ESG policy will benefit South African communities.

4 Rand Water Provident Fund Annual Report | 2022-2023