ECIC AR 2024 9TH

E

D

H

S

I

L I

N

B

2

0

A

0

T

S

1

E

Integrated Report 2024

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

O

A

S

N

F

C

O

E

N

C

O

O

I

R

T

P

A

O

R

Activities in 2023/24 The Committee received several management reports and considered the following matters within its mandate: • Confirmation that the ECIC’s business conduct is aligned with the applicable UN Global Compact Principles and OECD Recommendations Against Corruption regarding human rights, labour standards, the environment and anti-corruption; • The corporate social responsibility programme; • Progress against the ECIC’s employment equity plans; • Consumer relationships to ensure that industry specific consumer protection legislation and policies (i.e., FAIS, Short-Term Insurance Act) are in place; • Performance against the B-BBEE Scorecard; • ESG Reporting on the Corporation’s projects; • The Committee focused specifically on: o Stakeholder engagement (page 78 of this report); o Marketing and communication initiatives (pages 79-80 of this report); o CSR initiatives (page 94 of this report); and o Remedial actions for the improved occupational health and safety of employees and visitors. Ethical Conduct Overview The Fraud Prevention Policy, Whistleblowing Policy and Code of Ethics and Business Conduct are in place and were reviewed to combat corruption, manage identified fraudulent activities and ensure that the essential features of ethical conduct are governed and managed effectively. These policies are communicated adequately to staff. Compliance The ECIC’s conduct is guided by several policies, including: • The Code of Ethics and Business Conduct; • Fit and Proper Policy; • Whistleblowing Policy; • Fraud Prevention Policy; • Sanctionable Practices and Combating Financing of Terrorism Policy; • The Conflict of Interest Policy;

• Reviewing the performance of the CEO and members of the Executive Management Committee; and • Reviewed the performance-linked Short-Term Incentives Policy. Plans for 2024/25 • Consider and review the Remuneration, Reward and Recognition Policy to ensure that the policy drives employee value proposition; • Ensure that the Corporation enhances its performance management and systems and puts the necessary controls and measures to mitigate possible weaknesses; • Consider the efficacy and efficiency of the hybrid work system and its inherent risks, including the operational and risk elements of the operating system; • Consider any emerging HR risks which can negatively impact the Corporation and ensure that the appropriate measures are taken to address them; • Review the Corporate Scorecard to ensure that there are adequate stretch targets; and • Review of remuneration policies to ensure that the Corporation continues to remunerate employees fairly (STI). Social and Ethics Committee The Social and Ethics Committee (now renamed as the Social, Ethics and Transformation Committee effective 30 April 2024) is constituted as a statutory committee of the Board under section 72(4) of the Companies Act, 71 of 2008 as amended (read with Regulation 43 of the Companies Regulations). The Committee Chairperson presented a report on social and ethics matters at the Corporation’s 21st Annual General Meeting. The Committee met four (4) times during the 2023/24 financial year. Responsibilities The Committee fulfils its functions and responsibilities in terms of the Companies Regulations 2011 and, from time to time, other Board-assigned functions. These responsibilities are documented in the Committee’s Terms of Reference and annual work plan.

YOUR EXPORT RISK PARTNER

67