Equal Pay Policy

LS Retail's policy is to ensure that all employees are paid equal wages for the same or equivalent work regardless of gender.

The company‘s CEO is responsible for enforcing this Equal Pay policy as well as for LS Retail's operations to be compliant to laws no. 10/2008, on equal status and equal rights for women and men. The LS Retail's Chief Human Resource Officer is the designated representative of the Executive Board for the Equal Pay System and is responsible for the implementation and maintenance thereof in accordance with the standard ÍST 85: 2012.

LS Retail is committed to:

• Implement, document and maintain a certified equal pay system based on the Equal Pay Standard ÍST85: 2012.
• Follow applicable laws and regulations that are in effect at any given time.
• Perform a Wage Analysis at least annually to check for unexplainable gender differences and present key findings to staff.
• Respond to unexplained wage differentials with continuous improvement and supervision.
• Perform regular internal audits and present results to managers.
• Introduce this policy to employees and have it available to public using the company's external website

The Equal Pay policy is an integral part of LS Retail's general Wage policy.