BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX petrochemical businesses, the principles and policies approved by shareholders, the duties and responsibilities of the Board of Directors, the results of Board performance assessment, compared to the remunerations of Directors working at other listed companies under the PTT Group and at other listed companies. The 2021 AGM resolved to approve the Board’s remuneration and bonus as instructed by the Committee. Determining the remuneration of the Chief Executive Officer (CEO) and President for 2021 according to transparent, fair and reasonable criteria, based on his performance, following the CEO KPIs assessment, and assigned responsibilities, before proposing the remuneration to the Board of Directors for consideration and approval. 3. Performance Assessment of the Board of Directors and Chief Executive Officer Reviewing the Board of Directors’ assessment form (group assessment, self-assessment, and peer-assessment) for 2021 to ensure its completeness, promptness, and compliance with the Corporate Governance Code for Listed Companies 2017 (CG Code), the Dow Jones Sustainability Indices (DJSI), the ASEAN Corporate Governance Scorecard, and the performance of duties of the Board of Directors. Reporting the performance of Board of Directors for 2021 and establishing the Board’s key performance indicators (Board KPIs) for 2022, ensuring their alignment with CG Code and DJSI standards with regard to the roles and responsibility of the board. The Board KPIs were then presented to the Board of Directors for approval. Considering and approving the 2021 performance assessment of the Chief Executive Officer and the President (CEO KPIs) and acknowledging the 2021 performance assessment of the President (President KPIs) assessing the performance of the CEO and President to determine suitable and fair remuneration, which were then presented to the Board of Directors for approval. The Committee also acknowledged and provided recommendations on the performance of the President in 2021. 4. Other affiliated duties of the Committee Pre-setting the dates for its meetings for 2022, arranging at least four meetings per year. Ad-hoc meetings were allowed to be held if necessary. In these meetings, the Committee considered and acknowledged the Company’s performance and reports as well as provided any recommendations to the Board of Directors and the Management. Revising the Committee’s assessment form (group assessment and self-assessment) for 2021 to ensure its completeness, alignment with the current situation, and compliance with CG Code, the Dow Jones Sustainability Indices (DJSI), and the Nomination and Remuneration Committee Charter. Conducting the Committee’s assessment for 2021 and reporting its assessment results to the Board of Directors before disclosing them in the Form 56-1 One Report. Considering, reviewing and updating the composition and qualifications section on the Nomination and Remuneration Committee Charter by requiring that members of the Nomination and Remuneration Committee be Independent Director in order for them to perform their duties independently and give opinions freely which is in accordance with the Corporate Governance and Business Code of Conduct, ASEAN Corporate Governance Scorecard and the Corporate Governance Report of Thai Listed Companies of the IOD. Considering and reviewing the Board Skills Matrix so that it remains appropriate and in alignment with the Corporate Governance and Business Code of Conduct, good practices of nomination committee of the IOD, DJSI assessment, Global Industry Classification Standard (GICs) and the Skills Matrix guidelines of the State Enterprise Policy Office, which will be taken into consideration in the search and selection of Director and member of Sub-committees to ensure that the composition of the Board of Directors is diverse in the aspect of knowledge, skills and experience which are beneficial to the business operation. The Nomination and Remuneration Committee has performed its duties with responsibleness, ethics and independence in accordance with the corporate governance in order to ensure that the nomination and remuneration procedures are transparent, fair and in accordance with the application criteria which will help enhance efficiency of the Board of Directors to steer the operation of the Company forward in line with the established strategies and direction efficiently, as well as to build confidence among the shareholders, investors and all stakeholders. On behalf of the Nomination and Remuneration Committee (Signed) Mr. Don Wasantapruek (Mr. Don Wasantapruek) Chairman of the Nomination and Remuneration Committee 195
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