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. Throughoutthe Financial Year, the Board conducted three (3) BBOs, with a focus on TNB’s ESG Strategy: • On 13 February 2023: Deliberations on the Subsidiary Way Forward for TNB’s Sustainability Agenda by the Strategy & Ventures Division, addressing TNB’s subsidiaries in manufacturing, infrastructure, and services. Proposed clustering of subsidiaries and strategic alignment were discussed. • On 25 July 2023: Presentation of the RT 2.0 strategy by the Strategy & Ventures Division, outlining TNB’s roadmap to become a leading provider of sustainable energy solutions by 2030. • On 3 November 2023: Further discussions on RT 2.0 strategy, focusing on key pillars and enablers supporting TNB’s aspiration. Following evaluations, the Board collectively affirmed its thorough review of the Company’s strategic and financial plans, including the monitoring of implementation and KPI alignment to achieve corporate objectives. BOARD LEADERSHIP & EFFECTIVENESS CREATING VALUE THROUGH STRONG GOVERNANCE Sec 4 153 Reviewing the adequacy and integrity of the Company’s internal control system Material Matters Reserved for the Board