Control, which encapsulates Management’s risk management practices and internal controls, along with discussions on Key Risk Indicators (KRIs) aligned with the BSRC’s and Management’s risk appetite. The BSRC receives support from the Chief Risk Officer and the Risk Management Department (RMD) in fulfilling its duties. The RMD ensures the effective implementation of the TNB Risk Management Framework, aligned with ISO 31000:2018, to facilitate informed decision-making. With the establishment of the Sustainability Division during the Financial Year, tasked with executing TNB’s ESG Sustainability Initiative Strategy, the RMD now reports directly to the BSRC, with administrative reporting to the Chief Sustainability Officer. This integration ensures alignment between risk management and sustainability efforts. A significant event during the year was the TNB T op Management Risk Forum, organised by the RMD underthe theme “Building TNB Resiliency through Effective Risk Management.” Attended by BSRC members, the Group Executive Management Committee, and Senior Management, the forum aimed to cascade BSRC’s risk management directives to 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