Policies, Procedures, and Practices Geo Energy complies with the Employment Act, Singapore’s primary labour law, which sets out the basic terms and conditions of employment. Foreign employees holding work passes are also covered under the Employment of Foreign Manpower Act, which defines employers’ responsibilities and obligations when hiring foreign workers. We are fully committed to respecting the human rights of all employees and contractors, including the rights of indigenous communities, in alignment with international conventions such as the International Labour Organization (ILO) Conventions and the Singapore Employment Act. Policy documents are communicated to all employees upon commencement of employment, and both the Employment Act and the Employment of Foreign Manpower Act are accessible online. Policies and standard operating procedures (SOPs) are developed collaboratively by the respective department’s in-charge and Senior Management to ensure accountability and e!ective implementation. The Group CFO oversees policy implementation with support from the respective department’s in-charge. To ensure compliance, an independent internal auditor conducts annual audits and evaluations across our operations in Singapore and Indonesia. Findings are reported to the Audit and Risk Committee and the Board. Our Code of Ethics and Conduct Policy and Supplier Code of Conduct Policy Geo Energy’s Code of Ethics and Conduct provide guidance on legal, ethical, and riskrelated issues that may arise in the course of work, helping employees consider the broader impact of their actions on stakeholders. Our Code of Conduct ensures that decisions are guided by integrity, honesty, and compliance. We are committed CORPORATE GOVERNANCE GRI 2-17, 3-1 to 3-3, 205-1 to 205-3 Geo Energy acknowledges its responsibility to uphold strong sustainability stewardship. We have established robust processes for risk identification and assessment to manage our environmental and social impacts e!ectively. Conducting business with integrity and fairness remains a key priority as we strive to maintain trust with our stakeholders. We are committed to maintaining sound governance practices that ensure accountability and transparency across our operations with principles that underpin strict business integrity and support the creation of long-term sustainable value. To achieve this, we have set the following strategic goals: • Protect stakeholder interests and create long-term sustainable value; • Uphold accountability and transparency throughout all business operations; • Foster a culture of integrity, ethical conduct, and shared values at every level; • Maintain zero tolerance for fraud, bribery, and corruption; • Provide a confidential channel for employees and external parties to report concerns related to ethics and non-compliance; • Establish a robust ERM framework to safeguard the Group against risks; and • Prevent and manage conflicts of interest through our Conflict of Interest Policy. to adhering to all Health, Safety, and Environmental (HSE) policies, standards, and practices. As our operations are primarily based in Indonesia, we recognize that conflicts may occasionally arise between local laws, the Code, or Company policies. In such cases, employees must consult the Group Legal Team or Management before taking any action. All employees, including the Board of Directors, are required to comply with the Code. The Supplier Code of Conduct applies to all current and future suppliers, setting expectations for adherence to the highest ethical standards. It covers areas such as professional conduct, confidentiality, ethical dealings, conflict of interest, compliance with competition laws, fair practices, health and safety, and adherence to all applicable laws and regulations. For new vendor selection, the Group applies criteria including cost competitiveness, credit terms, product quality and availability, and vendor reputation (including trade sanctions). Existing vendors undergo annual evaluations based on pricing, service quality, responsiveness, delivery performance, and compliance checks to determine continued engagement. These criteria also apply to bidding processes. For investment opportunities, a preliminary analysis is conducted to ensure alignment with corporate strategy, followed by a comprehensive due diligence exercise. We operate under Good Corporate Governance (GCG) principles, embedding accountability and transparency throughout our operations. Our adherence to the Code of Corporate Governance 2018 (Code 2018), as detailed in our Annual Report, is substantial and regularly reviewed to reflect regulatory updates. Geo Energy strictly complies with all mandatory legislation, including SGX Listing Rules, the Principles and Practice Guidance outlined in the Code of Corporate Governance 2018, and the laws and regulations of jurisdictions where we operate. 18 GEO ENERGY | SUSTAINABILITY REPORT 2025
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