BOARD PERFORMANCE ASSESSMENT

As Company policy and practice, the Board of Directors conducts a self-assessment exercise through a self-assessment questionnaire given to each director to ensure the effectiveness of their governance, to highlight specific strengths, and to identify areas of improvement. The assessment covers appraisal of the Board as a governing unit, of individual directors, and of the different Board Committees. The assessment criteria include the structure, efficiency, and effectiveness of the Board, participation and engagement of each member of the Board, and contribution of each member director to their respective Committees. The criteria also reflect the specific duties, responsibilities and accountabilities of each party assessed as provided in the Company By-Laws, Manuals, Charters and governing policies. The Board Performance Assessment is assisted by an external facilitator every three years starting 2018.

Please see the results and certification of the Board Committee Assessment.