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Integrated Report 2024

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Other Governance Structures Executive Management Committee The Executive Management Committee (EXCO) is chaired by the CEO and includes the Chief Operations Officer (COO); Chief Financial Officer (CFO); General Counsel (GC); Chief Risk Officer (CRO); and Chief Actuarial and Investment Officer. The PA to the CEO serves as the EXCO secretary. The CEO co-opted the Head: Marketing, Communications and CSR; Head: Information Communication Technology; Head: Human Resources; Manager in the CEO’s office; and Senior Compliance and Ethics Officer onto EXCO. The committee’s five focus areas are administration, operations, projects, enterprise risk management and ICT. Activities in 2023/24 The Executive Management Committee met at least once a month to ensure effective operational decision-making and management oversight and attend to matters delegated by the Board. These included: • Developing the Corporation’s strategy and budget for Board consideration and approval; • Ensuring effective day-to-day operations in accordance with approved strategies, policies, and procedures; • Evaluating insurance cover applications and considering amendments, waivers, or consents; • Monitoring the status, salvage, and claims of projects; • Monitoring and reviewing employee development such as staff training, personal development, and management development; • Identifying, mitigating, monitoring, and reporting on enterprise-wide risks; • Overseeing stakeholder relationship; • Overseeing the effective management of ICT resources; • Monitoring of investment, capital and liquidity management • Approving corporate social responsibility and funding for enterprise and supplier development projects; and • Monitoring progress against corporate performance targets.

• The Gifts Policy (requires employee to declare gifts above a certain threshold); and • The Procurement Policy (details conduct during supply-chain processes). The committee is of the view that the ECIC assigned the necessary importance to its environmental, social, and ethical governance responsibilities and aligned its initiatives with the Company’s business strategy. No substantive legislative or regulatory non compliance or transgression of codes of best practice that fall within the committee’s mandate were brought to its attention. The Committee has no reason to believe that any such non-compliance or non-adherence occurred. Plans for 2024/25 The Committee recognises the dynamic nature of its environmental, social and ethics mandate and will ensure that relevant policies, plans, and programmes are in place to promote and sustain social and economic development, good corporate citizenship, environmental responsibility, fair labour practices and good consumer relations. Going forward, the focus will be on ethics management, performance oversight, and industry peer benchmarking and a heightened focus on transformation. The Committee’s focus areas for 2024/25 are, amongst others, the following: • Implementation of the ESG Policy and Framework; • Improved ESG Reporting (including reporting on projects); • Continued implementation of the ECIC Ethics Framework; • Greater focus on transformation, beyond the BBBEE scorecard; • Ensuring that the Corporation has measures in place to ensure the safety and security of employees; • Consider the remunerative and non-remunerative work undertaken by employees, to ensure that there are processes in place to safeguard the interests of the Corporation; and • Enhancements of the role of the Committee to align with industry best practice.

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