& 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 Linkto Strategy Matters Considered by the Board The Board holds the responsibility of establishing and maintaining a robust reporting framework for internal controls and regulatory compliance across the Company. Following an evaluation of the Financial Year, the Board collectively affirmed its fulfillment of these responsibilities through the diligent efforts of the BSRC/BAC. Regular meetings were conducted to assess the effectiveness of the Company’s internal control system, ensuring alignment with regulatory standards and best practices. BOARD LEADERSHIP & EFFECTIVENESS Overseeing and evaluating the conduct and performance of the Company’s businesses Material Matters Reserved for the Board Link to Strategy Matters Considered by the Board The President/CEO assumes the crucial role of overseeing the Company’s day-to-day operations and executing Group strategies and policies approved by the Board. This responsibility is facilitated by the dedicated support of various Management Committees. Performance evaluations of Management are conducted, primarily assessing the quarterly Company’s and Group’s financial performance. The