this site. Included within derivative financial assets is 180 million (2021: 6 million) relating to these agreements. This Committee monitors the effectiveness of risk management activities against strategic, operational, compliance and financial risks, and is updated on, and discusses, emerging risk areas. We continue to monitor the situation in Ukraine and the associated impacts this may cause across our principal risks, with regard to our customers, our colleagues and our supply chain. Areas of focus remain the same as the previous year and include: - the impact of complying with the post-Brexit regulatory and enforcement regime, including what it means to be trading under both UK and EU regulations in Ireland and the implications of any changes to the NI Protocol, - responding to proposed new rules associated with high fat, sugar and salt products, plastic, packaging and food waste, - anticipating and responding to emerging areas of regulatory focus on environment and climate change, and associated reporting requirements, - As a responsible business, we proactively engage with Government, devolved administrations, regulators and industry bodies in the areas in which we operate, on public policy issues impacting our customers and colleagues. We are also featured for the first time in the FTSE 100 Top Ten Best Performers list for Women in Leadership. Actions to further enhance risk management activities were agreed in line with management's appetite. . So far we have donated over 2.5 million meals, which is equivalent to 4.8 million in savings for charities and community groups. NAV, EMM/EPT, Rule 8 and FRN Variable The Board believes that the disclosures set out in this Annual Report provide the information necessary for shareholders to assess the Group's performance, business model and strategy. Business continuity, operational resilience and major incident response*. We also disclosed our protein sales, with 72 per cent of protein sales being plant based and meat-free products. Attracting talented colleagues, investing in training and development and rewarding colleagues fairly are all essential to the sustainability of our operations. This year, we have ordered them to first show those that have been included in the risk modelling undertaken as part of the preparation of the viability statement (see page 51). As part of our commitment to measure healthy and sustainable diets, we reported against our new target to achieve at least 83 per cent of 'healthy' and 'better for you' sales by 2025, currently at 80 per cent. The fair value of financial instruments is determined by discounting expected cash flows at prevailing interest rates; and. As COVID-19 continues to impact the economy and the cost of fuel, energy and raw materials continues to rise, we remain committed to doing everything we can to support our colleagues and customers through what may be challenging financial times ahead. We commit to paying above the National Minimum Wage and, when setting pay each year, will consider the Living Wage, the National Living Wage, competitor pay and the financial performance of the business. The Operating Board maintains the overall corporate risk map, which captures the key risks to achieving our strategic objectives. The above documents may be viewed online at, In accordance with Listing Rule 9.6.1R, a copy of each of these documents in unedited full text will be submitted to the National Storage Mechanism and will be available for viewing shortly at, This announcement is not a substitute for reading the full Annual Report 2022. This has been a year of delivering for all our stakeholders and I am immensely proud of what our business has achieved for our customers, colleagues, communities and our shareholders. I was inspired by the encouraging steps so many businesses, including Sainsbury's, are taking to address the challenges we face. 2022 FE fundinfo. The challenging trading environment requires a focus on efficient operations, which may include change initiatives that affect colleagues, impacting trust or engagement. The key management personnel compensation is as follows: Three key management personnel had credit card balances with Financial Services (2021: five). and

Full details of this arrangement are set out in note 37 to these financial statements. - The Operating Board has regular sessions to discuss strategy, supported by a dedicated Strategy team. See page 13 for more detail on Plan for Better. To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms. This reflects that these have the potential to have the largest impact on the business and is indicated with the following symbol: *. Through the year our Price Lock promotion fixed the price of up to 2,000 items for at least eight weeks and our Sainsbury's Quality, Aldi Price Match campaign matches the discounter's prices on 240 popular items. - In terms of emerging regulatory risk, we liaise with external parties and our internal stakeholders to monitor changes to existing regulations that would impact the business, so that we can respond appropriately. That information together with the information set out below which is extracted from the Annual Report and Financial Statements 2022 (the "Annual Report 2022") constitute the material required by Disclosure Guidance and Transparency Rule 6.3.5R, which is required to be communicated to the media in full unedited text through a Regulatory Information Service. In preparing these financial statements, the Directors are required to: - select suitable accounting policies and then apply them consistently; - make judgements and accounting estimates that are reasonable and prudent; - state whether UK-adopted international accounting standards have been followed, subject to any material departures disclosed and explained in the Group and Company financial statements respectively; and. Chairman Martin Scicluna reviews the business activity in the year. A major incident or catastrophic event could affect the business or its individual brands' ability to trade. Initiatives such as the adoption of the Halo Code and our admission to the Black British Network are just some of the achievements made this year and I am pleased our work has been recognised, with the I AM ME Ethnically Diverse Colleague Network featured in the Top 10 Network Groups in the UK at the Ethnicity Awards. Set out below are the accounting classification of each class of financial assets and liabilities as at 5 March 2022 and 6 March 2021. We have used our strong cash generation in recent years to reduce debt and return around 50 per cent of underlying net earnings to shareholders through ordinary dividends. 1. Remote working solutions have reduced the risk of loss of a key site, - In the event of any unplanned or unforeseen events, the Incident Response Team (IRT) is convened to manage the response and any associated risk to the business, - The IRT Chair reports to the Operating Board, which provides strategic direction and decision making across financial, operational and regulatory matters, considering all stakeholders, - The IRT was convened at various times through the year including to respond to the high demand for fuel, the impact of the Omicron variant on business operations, Storm Eunice and to co-ordinate contingency measures with supplier challenges. - The Group Safety Committee (GSC) met four times during the year, receiving detailed reports on a wide range of topics including COVID management and control, growth of online operations, building fabric review and safety training. Form of Proxy for the 2022 Annual General Meeting. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy Our annual colleague survey was updated this year to ensure we are measuring the things that matter most to our people and that support the culture we seek to have, - In September 2021, we went live with our new hybrid ways of working, giving colleagues greater flexibility to come together in our offices, stores and depots for collaboration, coaching or community purposes and work remotely the rest of the time, - We design and run specific programmes to target hard to recruit areas, presenting a wide range of opportunities for colleagues from across our business, as well as attracting new talent. All company names, logos, and brands are intellectual property of their respective owners. Certain responsibilities have been delegated to the Audit Committee, as outlined on page 73. As discussed in note 37, the Group has entered into an arrangement with the Pension Scheme Trustee as part of the funding plan for the actuarial deficit in the Scheme. We have also more clearly drawn out the link between each principal risk and the group's key performance indicators (see page 30) and continue to highlight the link with the strategy of the business. Some of the cookies are essential for parts of the site to operate and have already been set. fundraising easy portland fc In the last year, the impact of COVID-19 has continued to affect the health and safety of our customers and colleagues. Sainsbury's exposure to operational resilience and major incident risks may be greater because of operational complexities and some ageing systems. The target risk position for the corporate risks is also captured to reflect management's risk appetite, where this differs to the current net position. Since 2017 we have increased the pay of Sainsbury's front line colleagues by 25 per cent and we have increased Argos colleagues' pay by 31 per cent over the last five years and have removed age-related pay. www.about.sainsburys.co.uk/ar2022 Excluding fuel sales declined 2.6%, up 104 per cent versus the 2020/21 financial year and up 25% versus the 2019/20 financial year, Statutory profit before tax versus a loss of 164 million in the 2020/21 financial year and versus 278 million in the 2019/20 financial year, Retail operating profit growth versus the 2020/21 financial year and 6.7% versus the 2019/20 financial year, Corporate Responsibility and Sustainability, Underlying basic earnings per share, up 117% versus 11.7p underlying basic earnings per share in the 2020/21 financial year, Return on capital employed, up 280bps versus the 2020/21 financial year and up 100bps versus the 2019/20 financial year. Company Secretary and Corporate Services Director. The main financial risk relates to availability of short and long-term funding to meet business needs and fluctuations in interest, commodity and foreign currency rates. As well as our traditional channels, we have invested in our contactless channels such as SmartShop, Click & Collect and Groceries Online. 2022 FE fundinfo. We are now well into the next phase of delivering against the commitments we have set out. The key change to the risks during the year relates to our previous "Environment and sustainability" principal risk. Our 171,000 colleagues are at the heart of serving and helping our customers every day and are vital to our success, now and in the future. Customer, Commercial and Channels Forum; Operating Board, - We have a wide, differentiated portfolio of brands, including Sainsbury's, Argos, Habitat, Tu clothing, Nectar and Sainsbury's Bank, which provides some inherent resilience to unforeseen changes, - We continually monitor current market trends and price points across competitors, and respond through actively managing price positions, developing sales propositions and adjusting promotional and marketing activity, - We put the customer at the heart of our decision making to ensure we retain existing and attract new customers - see the "Customer" principal risk for further details, - We are in regular contact with the government and other external bodies to understand decision making in relation to Northern Ireland so we, and our suppliers, can adapt our ways of working as needed, - In terms of supplier continuity specifically, we maintain regular, open dialogue with key suppliers concerning their ability to trade and collaborate with them on solutions where appropriate. The announcements are supplied by the denoted source. The fair value of the financial assets has been calculated by discounting cash flows at prevailing interest rates and is within Level 2 of the fair value hierarchy (see below for fair value hierarchy description). During the year, an independent review of our risk management framework was carried out by a Big 4 firm; this review confirmed that we are compliant with the Risk Management requirements of the UK Corporate Governance Code. The Boards of J Sainsbury plc and Sainsbury's Bank plc, - The Bank is managed through defined governance structures that include the Board of Sainsbury's Bank plc, its Risk Committee and Audit Committee. Mitigations in place, supporting the management of the risk to a net risk position, are also described for each principal risk. Investegate reserves the This allows emerging risks to be considered and discussed by each division and then collated to perform a business-wide assessment of how emerging risks and opportunities may impact our business, considering their potential timeframe and degree of certainty. I was delighted that this year we raised over 6 million for Comic Relief, in addition to the 2 million we donated as a business to support the humanitarian crisis in Ukraine. We are aligned to the UN Sustainable Development Goals and, through Plan for Better. Collaboration is key to tackling the climate crisis. This is actively managed through our normal economic scenario modelling analyses and corresponding playbooks. We are committed to paying our 151,000 retail colleagues fairly and our wage bill is our biggest operating cost. You can read more about our progress to put food back at the heart of Sainsbury's on pages 10-11. risks disclosure, as set out on pages 40 to 50. The Group values its Power Purchase agreements as the net present value of the estimated future usage at the contracted fixed price less the market implied forward energy price discounted at the prevailing swap rate. - Treasury policies, approved by the plc Board, are in place to address liquidity, refinancing, financial markets and counterparty credit risks. We also publicly report on progress towards achieving our Net Zero targets, as well as our other targets within Plan for Better twice a year, to ensure transparency, - See page 17 for more information on our ongoing implementation of the TCFD recommendations, DISCLOSURES ABOUT THE FAIR VALUE OF FINANCIAL INSTRUMENTS, Financial assets and liabilities by category. The key management personnel of the Group comprise members of the J Sainsbury plc Board of Directors and the Operating Board. The Group has entered into several long-term fixed price Power Purchase agreements with independent producers. tatement of Directors' responsibilities. Set out below is a comparison of the carrying amount and the fair value of financial instruments that are carried in the financial statements at a value other than fair value. We operate in a highly competitive market during a time of economic uncertainty, primarily driven by the COVID-19 pandemic. The GORC sets the operational resilience strategy for the business and monitors progress against this, - The Operational Resilience Committee, which includes representatives from functions across Sainsbury's, including the Bank, meets regularly to implement the operational resilience policy and strategy, - Business-wide resilience exercises are undertaken to imitate real life business continuity scenarios and test our ability to respond effectively.

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