| AS REQUIRED, THE NOMINATION AND REMUNERATION COMMITTEE OF DIRECTORS HAS ESTABLISHED A STRUCTURED FRAMEWORK FOR THE EFFECTIVE EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES, AND INDIVIDUAL DIRECTORS (INCLUDING INDEPENDENT DIRECTORS) IN COMPLIANCE WITH THE PROVISIONS OF THE ACT AND THE LISTING REGULATIONS. THE BOARD ENSURES THE FORMATION AND MONITORING OF A ROBUST EVALUATION PROCESS COVERING INDIVIDUAL DIRECTORS, INCLUDING THE CHAIRMAN, THE BOARD AS A WHOLE, AND ITS VARIOUS COMMITTEES. ACCORDINGLY, THE BOARD OF DIRECTORS HAS MADE FORMAL ANNUAL EVALUATION OF ITS OWN PERFORMANCE AND THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS (INCLUDING INDEPENDENT DIRECTORS) IN ACCORDANCE WITH THE MANNER SPECIFIED BY THE NOMINATION AND REMUNERATION COMMITTEE OF DIRECTORS. THE PERFORMANCE OF THE BOARD WAS EVALUATED BASED ON INPUTS FROM ALL DIRECTORS, CONSIDERING CRITERIA SUCH AS THE ADEQUACY OF ITS COMPOSITION AND STRUCTURE, THE EFFECTIVENESS OF BOARD PROCESSES, THE AVAILABILITY OF INFORMATION, AND OVERALL FUNCTIONING. SIMILARLY, THE BOARD ASSESSED THE PERFORMANCE OF ITS COMMITTEES AFTER SEEKING INPUTS FROM COMMITTEE MEMBERS, EVALUATING FACTORS SUCH AS THE COMPOSITION OF COMMITTEES, ADHERENCE TO THEIR TERMS OF REFERENCE, EFFECTIVENESS OF MEETINGS, AND THE ACTIVE PARTICIPATION OF MEMBERS. THE EVALUATION OF INDIVIDUAL DIRECTORS, INCLUDING INDEPENDENT DIRECTORS, WAS CONDUCTED BASED ON CRITERIA SUCH AS ATTENDANCE, ACTIVE PARTICIPATION, AND CONTRIBUTIONS DURING BOARD AND COMMITTEE MEETINGS, AS WELL AS THE EXERCISE OF THEIR DUTIES WITH DUE CARE, SKILL, AND DILIGENCE. ADDITIONALLY, IN A SEPARATE MEETING OF INDEPENDENT DIRECTORS, THE PERFORMANCE OF NON-INDEPENDENT DIRECTORS, THE BOARD AS A WHOLE, AND THE CHAIRMAN WAS ASSESSED, INCORPORATING THE VIEWS OF BOTH EXECUTIVE AND NON-EXECUTIVE DIRECTORS. THE CHAIRMAN OF THIS MEETING SUBSEQUENTLY APPRISED THE BOARD OF THE EVALUATION OUTCOME, CONFIRMING THAT THE INDEPENDENT DIRECTORS WERE SATISFIED WITH THE ASSESSMENT PROCESS. |