To further strengthen our governance framework, we have implemented additional policies, which we are committed to fully complying with: Policy Name Description of the Policy Code of Ethics and Conduct (the “Code) • The Code provides guidelines, principles and expectations on professional conduct that should be upheld. • The Code contains clear guidelines on how the Board of Directors, employees and associated guests are expected to behave, as well as disciplinary actions taken in the event of non-compliance. • Prohibition on anti-competitive behaviour has also been stipulated in the Code. Whistleblowing Policy • The Policy establishes a formal channel for employees and relevant stakeholders to report occurrences of malpractice within the organisation. • The Policy ensures that all reports received through this channel are treated with confidentiality and impartiality, with no employee or third-party subject to consequence or retaliation for a report made in good faith. • Whistleblowing reports are reviewed by the ARC to facilitate investigative action and resolution. • The ARC received zero whistleblowing reports during this reporting period. Anti-Bribery and Corruption (ABC) Policy • The ABC Policy outlines rules surrounding money laundering, gifts, entertainment and hospitality expenses. • Employees who violate the ABC Policy will be subject to prompt disciplinary action or termination. • The Group’s anti-corruption policies and procedures have been communicated to all governance body members and employees, including new joiners, in Singapore and Indonesia. All employees are mandated to undergo anti-corruption and bribery training. Performance and Initiatives The Group has implemented an annual declaration process to identify and monitor exposure to sanction-related risks through its Conflict of Interest Declaration Form. Directors and employees are required to disclose any activities, relationships or circumstances that may give rise to risks under applicable sanctions laws. Where potential sanction-related risks (Sanctions Activities) are identified, a formal assessment is undertaken jointly by the Group Chief Financial O"cer and the Human Resources department. The findings of the assessment are submitted to the ARC and the Board of Directors for further review and, where appropriate, follow-up investigation or mitigating action. This structured assessment process enhances the Group’s governance and risk management framework by enabling the timely identification, assessment and management of potential financial and operational impacts arising from sanction-related risks. It further enables the Group to provide transparent and accurate information to stakeholders on sanction-related risk exposure, impacts and mitigation measures, in line with its continuing disclosure obligations under SGX Listing Rule 703. In 2025, the Group reported: • Zero cases of corruption and bribery • Zero incidents of conflicts of interest • Zero cases of non-compliance with applicable laws and regulations Our Goals and Targets Going forward, the Group remains committed to upholding the principles and guidelines set out in the Code. The Group also aims to continue maintaining zero cases of corruption and bribery, as well as zero incidents of conflicts of interest. In addition, the Group seeks to enhance Board diversity through the appointment of a director with relevant skills and experience across environmental, social and governance (ESG) matters, with particular emphasis on expertise related to the coal and commodities sectors. This will be complemented by the continued objective of ensuring the presence of at least one female director on the Board. Further details on the Group’s Board diversity objectives are set out on pages 26 to 27 of the Annual Report. RISK ASSESSMENT AND MANAGEMENT Policies, Procedures, and Practices The Board and Management recognise the critical role of e!ective risk management in protecting the interests of stakeholders and safeguarding the Group’s assets. These practices provide reasonable assurance over the integrity and reliability of financial information, as well as the proper stewardship and accountability of the Group’s assets. 19
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