sustainability and risk management frameworks, as well as the effectiveness of their implementation in achieving strategic objectives and sustainability commitments. For more information, please refer to Sustainability Governance section of Sustainability Statement, which can be found on pages 58-59. Furthermore, on 14 December 2023, the Board endorsed the revised terms of reference for the BAC to adapt to its evolving role, particularly in providing assurance on sustainability-related matters. The updated functions and responsibilities of the BAC in relation to sustainability matters include ensuring the consistency and coherence of sustainability-related disclosures across financial reporting and other public disclosures, approving the assurance plan/methodology on the Sustainability Statement, and reviewing the results of assurance on the Sustainability Statement, culminating in the approval of the Statement of Assurance as part of the SustainabilityStatement. OPERATIONS OF THE BOARD Prior to each scheduled Board meeting, comprehensive Chairman Reports from the respective Board Committees are distributed, ensuring Directors are thoroughly briefed on deliberations and recommendations. This process guarantees that each Director is well-informed about decisions made and viewpoints raised. Subsequently, the Chairman of each Board Committee presents the Committee’s report to the Board, outlining recommendations for the Board’s consideration and approval. This dynamic exchange allows the Board to offer insights on all Committee deliberations. All deliberations and recommendations are duly recorded, • Revenue, Operational and Capital Expenditure (CAPEX) Budget for Financial Year 2024 • Approval/Status Update on TNB's potential investments/ divestment projects • Approval/Status Update/Issues Raised on Operational matters of TNB and its Group of Companies • TNB’s Sustainability Pathway 2050: Low Carbon Pathway and Key Action Items • Quarterly Group Performance • Audited Financial Statements for Financial Year 2023 •