activities. This delegation includes the responsibility to recommend and approve both monetary and non-monetary limits of authority for operational and management decisions before execution. The Limits of Authority strikes a balance between effective oversight and empowering the Management with appropriate accountability. CODE OF ETHICS FOR DIRECTORS The Board of Directors adheres to the Code of Ethics for Company Directors established by the Companies Commission of Malaysia. Each Non-Executive Director is equipped with the Non-Executive Directors’ Handbook, serving as a reference for their professional responsibilities and the terms and conditions of their service. This handbook undergoes regular updates to reflect changes in applicable rules, regulations, and policies governing Directors’ conduct. CODE OF BUSINESS ETHICS (COBE) EFFECTIVE AUDIT AND RISK MANAGEMENT We uphold the highest ethical standards and do what isright, all the time We are fair, honest and transparent in everything we do We always seek to achieve mutual benefit for the country, Company and customers 3 BEHAVIOURS OF INTEGRITY TNB has developed the new COBE to govern the conduct of all Directors and employees which take effect on 25 August 2023. This code ensures adherence to laws and regulations, promotes sound employment practices, upholds confidentiality and privacy, and addresses matters such as conflicts of interest, business courtesies, and the proper use of TNB’s assets. It also outlines how TNB engages with its shareholders, employees, customers, suppliers, and the communities in which it operates, emphasizing general principles of business integrity. All employees are expected to conduct business in accordance with applicable laws and regulations, contributing to the enhancement and protection of TNB’s reputation. In2023,TNBlaunchedtheCodeofBusiness Ethics(COBE)andOrganisational Anti-CorruptionPlan(OACP)tostrengthen thepracticeofintegrityinTNB. ETHICS, INTEGRITY & TRUST TENAGA NASIONAL BERHAD Integrated Annual Report 2023 166 The