RAND WATER ANNUAL REPORT 2023

KING IV PRINCIPLES APPLICATION - 2023 Rand Water complies with the principles of King IV, and the Board encourages the organisation to uphold the governance principles and recommended practices contained therein and to align its practices, policies, and procedures thereto. During the reporting period, Rand Water applied the principles of King IV. The report below provides details of how Rand Water applied the King IV principles. Table 3: King IV Principles Application KING IV PRINCIPLE APPLY AND EXPLAIN

1. The Governing Body Should Lead Ethically and Effectively.

Notwithstanding, the Board, along with the EXCO, have made provisions that ensure that any conflicts of interest are adequately accounted for. As a standing item at all Board and Board Committees, EXCO and TMC meetings, an opportunity is given to all members to declare accordingly. Further, members continuously equip themselves with the necessary working knowledge of the organisation, the field within which it operates, and any laws, rules, codes and standards that may be applicable. After the appointment of the Board, an induction process is undertaken to ensure that all members are handed the tools they require to perform their tasks. Through the governance of ethics process, a direction for how ethics should be initiated and implemented in the organisation is undertaken, wherein the Board: • Approves codes of conduct and ethics policies, and further, ensures the adherence to the organisation’s ethical standards by employees and other stakeholders, and • Delegate implementation of codes of conduct and ethics policies to management and provide ongoing oversight of the management of ethics. Rand Water Foundation (RWF) exists to carry out the social responsibility role of Rand Water, and to support such other activities as may be deemed necessary by Rand Water and relevant donors for the support and promotion of improved water related services within the borders of South Africa. The Board has included employment equity through a transformative framework that gives opportunities to women and previously disadvantaged individuals in line with affirmative action. The Board has approved Environmental, Social and Governance (ESG) Framework that implements responsible corporate practices.

2. The governing

body should govern the ethics of the organisation in a way that supports the establishment of an ethical culture.

3. The governing body should ensure that the organisation is and is seen to be a responsible corporate citizen.

Refer to “Our Social and Relationship Capital” section of the IAR (page 125).

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