The management and control of the business of the Company, including the overall duty on the performance and progress of its corporate responsibility as well as the oversight of environmental, social and sustainability (ESG) issues, is vested in the Company’s Board of Directors (Board); while specific responsibilities that relate to the day-to-day operations are delegated to the Management Executives.

To assist the Board in fulfilling its oversight responsibilities in relation to the Company’s strategy, policies and progress on ESG matters, the Board approved the creation of a Sustainability Committee on 2 November 2020. The Sustainability Committee is composed of the Managing Director as its chair, and the Chief Finance Officer, Head of Corporate Development, Head of Operations and Head of Human Resources and Administration as members. The Committee reviews ESG-related issues, and their respective risks and opportunities. Where applicable, targets are set based on historical data and/or benchmarking information. In the absence of historical data and/or benchmarking information, the Committee seeks consensual targets based on the objective of the initiatives. Performance vis-à-vis targets is then monitored by the Committee through the reports of the business functions involved. The Committee provides an annual update to the Board on the progress and performance of ESG-related issues during the Board meeting.

The Company’s approach and strategy on the management of ESG issues is to work toward balancing and meeting the different evolving needs and expectations of its internal and external stakeholders. These needs and expectations are evaluated and prioritized according to their impact on the Company, the risks involved in meeting these needs and expectations, and how vulnerable the Company is to these risks. These needs and expectations are then managed, balanced and addressed by the Company through the High Level Risk Assessment which it conducts and its Crisis Management System.