Adyen India - Corporate Social Responsibility (CSR) Policy

• 1. Introduction

  Adyen India Technology Services Private Limited (the ‘Company’ or ‘Adyen India’) is required to ensure compliance with Corporate Social Responsibility (‘CSR’) obligations as per the Companies Act, 2013 together with the applicable rules, as amended, modified or clarified from time to time (‘Act’).

  This policy has been prepared in accordance with Section 135 of the Act and in accordance with the Companies (Corporate Social Responsibility Policy) Rules, 2014 notified by the Ministry of Corporate Affairs (MCA), Government of India.

  Adyen India’s CSR objectives are not just limited to investment of funds for social activities but they also extend to bringing a positive change to the society. Accordingly, this CSR Policy provides the framework for implementation of CSR activities and administration of funds.

• 1.2 The CSR Policy

  Adyen India, in alignment with the Company’s corporate philosophy, may consider and undertake activities as mentioned under Schedule VII of the Act read with section 135 of the Act.

  To enhance reach and to accelerate the impact of the CSR objectives to a larger set of target population, Adyen India may also partner or work with other well-known foundations, implementation agencies, NGOs, or other intermediaries with a good track record for deploying the CSR program. Starting small, building a relationship with these intermediaries through volunteering events helps to ensure shared value alignment and ways of working between the two parties.

• 1.3 Purpose and Scope

  This Policy will apply to all activities undertaken as part of Adyen India’s CSR activities and will be developed, reviewed, and updated by reference to relevant codes of corporate governance and best practices.

  Adyen India’s CSR policy aims to contribute towards sustainable development of the society and environment to make our planet a better place for future generations. The Company believes in accelerating change where it is needed most. Alongside its ambitions in financial technology, the Company is committed to supporting social and sustainable development, economic growth and climate action.

• 2.1. CSR Funding

  The quantum of amount to be spent on CSR activities (‘CSR Budget’) shall be in accordance with the Act and must not be less than 2% of the average net profits of the previous three financial years. The activities and mode of deployment shall be determined by the Board of Directors of the Company (‘Board’) or any committee of the Board subsequently formed for this purpose as required under the Act (‘Committee’), as a part of the Company’s overall annual budget/ action plan and subsequently recommended to the Board for its approval.

  All CSR activities undertaken by Adyen India will be approved by the Board, and shall be allocated funds from the CSR Budget. The Board or a Committee subsequently formed for this purpose , will abide by the provisions relating to annual expenditure on CSR activities as laid down as per applicable laws in India as amended from time to time.

  Any unutilised balance from the mandatory CSR Budget will be treated in accordance with the Act.

• 2.2. Activities & Focus Areas

  Similar to Adyen group’s social responsibility, Adyen India’s social responsibility efforts are guided by the United Nations’ Sustainable Development Goals (‘UN SDGs’), as they reflect the key societal and environmental causes that are most at stake today. The Company believes in accelerating change where it is needed most. Alongside our ambitions in financial technology, we are committed to supporting social and sustainable development, economic growth and climate action.

  Adyen India supports causes and charities that advance the UN SDGs and may consider and undertake activities as mentioned under Schedule VII of the Act read with section 135 of the Act.

  The Company's CSR activities will focus on the following activities to make a meaningful impact:

  • Hunger, poverty, nutrition and health

  • Education

  • Gender Equality and Women Empowerment

  • Environmental Sustainability

  • Promoting well-being, health care including preventive health care and sanitation

• 3. General Responsibilities

  The Board or Committee subsequently formed for this purpose, shall be entrusted with the following responsibilities:

  • determining the approach and direction of CSR activities to be undertaken by the company and the amount of expenditure on the CSR activities,

  • ensure monitoring and reporting mechanism for the programs,

  • satisfy itself that the funds so disbursed have been utilised for the purposes and in the manner as approved

    by it, and

  • monitor the CSR Policy of the company from time to time and formulating an annual action plan in pursuance

    of the CSR policy.

• 4. Monitoring

  The Board or Committee subsequently formed for this purpose, shall ensure transparent monitoring for effective implementation of the CSR program or activities proposed to be undertaken by the Company.

  The monitoring mechanism will include program review, evaluation, documentation and obtaining feedback from beneficiaries about the programmes and reporting to the Board. However, based on relevant best practices, the Committee may recommend to the Board conducting impact assessments by third parties/ independent agencies as deemed fit.

• 5. Reporting

  An annual report of the significant CSR activities and achievements will be reported as part of the annual report as required under the relevant provisions of the Act as amended from time to time.

• 6. Disclosure

  A brief outline of this Policy shall be presented in the Board’s report and on the Company’s website.

• 7. Policy Review

  The Board on advice from the Corporate Governance team and/ or as per the recommendations of the Committee subsequently formed for this purpose, can amend this Policy, as and when required. Additionally, changes shall be incorporated in the Policy as and when required to align with regulatory amendments or as may be felt appropriate and necessary. Any changes or modifications in the Policy, would be given for approval of the Board.

  1.0

  Drafted/updated by

  Corporate Governance Team

  Approved by

  Board of Directors, December 7, 2023 Adyen India

  Date of approval

  December 7, 2023