TNB’s senior leadership, fostering a robust risk culture across the Group. The BSRC remains committed in its oversight role, ensuring that risk management is seamlessly integrated into strategic planning and decision-making processes to drive the Group’s strategic outcomes and long-term objectives. Based on the evaluation for the Financial Year under review, the Board collectively agreed thatit has discharged its roles in identifying principal risks and in ensuring that the Group has put in place an adequate risk management framework to effectively monitor and manage the risks of its operational businesses. SUMMARY OF BOARD ACTIVITIES IN 2023 Formulating, reviewing and approving the Company’s strategic business plan Material Matters Reserved for the Board Link to Strategy Develop Energy Transition Network Drive Regulatory Evolution Deliver Clean Generation Dynamic Energy Solutions Develop EnergyTransition Network Drive Regulatory Evolution Deliver Clean Generation Dynamic Energy Solutions Matters Considered by the Board The Board assumes a critical role in overseeing the Company’s strategic trajectory and sanctioning corporate strategic endeavours devised by the Management. Annually, the Board scrutinises the Company’s strategic and business plan, including the proposed annual capital and revenue budget for the upcoming year, alongside the KPIs. This ensures that the KPIs align with the Company’s annual strategic and business plan. The Board thoroughly evaluates and deliberates on the Management’s perspectives and assumptions to ensure informed decisions are made, considering all relevant factors. Additionally, an informal session known as the Board Breakout Session (BBO) serves as a platform for the Board and Management to exchange views and opinions, formulate strategic plans and address pertinent issues concerning the Group’s direction and progress. Coordinated by the Company Secretary’s Office, with input from respective Divisions, as required, the BBO facilitates strategic planning and progress reporting.