ESG Report 2023

6.1 Corporate Governance To implement excellent corporate governance, the Board of the Group is responsible for setting the Group's objectives and strategies and monitoring their performance. The Board also makes decisions on annual and interim financial results, major transactions, director appointments, dividends, and accounting policies, among other matters, and oversees the internal control procedures of the Group's operations. The Board has delegated the responsibility and authority for overseeing day-to-day operations to management. All Directors receive regular updates on governance and regulatory matters. Directors may also seek independent professional advice, following established procedures, to assist them in fulfilling their responsibilities. The Group has established committees responsible for various areas, including the Remuneration Committee, Audit Committee, Nomination Committee, Risk Management Committee, and Sustainability Committee. Ensure there is a formal and transparent process for policies setting on Directors' remuneration Comprises of 3 INEDs Remuneration Committee Reviews and monitors the Group's financial reporting system and internal control procedures Comprises of 3 INEDs Audit Committee Ensure fair and transparent procedures for the appointment, re-election and removal of directors Comprises of 3 INED Nomination Committee Oversees and reviews the Group's risk management and internal control systems Comprises of 2 and 2 ED INEDs s Risk Management Committee Develop, review and monitor ESG targets, risks, strategies and management appr aches Comprises of 3 and 2 ED o INEDs s Sustainability Commttiee 24 Environmental, Social and Governance Report 2023 The United Laboratories International Holdings Limited s Notes: INED: Independent Non-Executive Director ED: Executive Director