<b>Governance</b>

Governance

NWS Holdings firmly believes that sound and effective corporate practices are fundamental to the smooth, effective and transparent operation of a company. They are essential to a company's ability to attract investment, protect the rights of its shareholders and stakeholders, and enhance shareholder value. Comprehensive corporate governance practices are ingrained in our management structure and value system, ensuring the Group operates according to the highest ethical standards and develops in the most sustainable manner possible.

Structure and Practices

The Board is the highest governance body of the Group, responsible for enhancing long-term shareholder value, directing growth strategies, supervising executive management and ensuring corporate governance policies and practices are implemented within the Group.

The Group's day-to-day operation is delegated to the Executive Committee. It has primary responsibility for delivering business growth, monitoring business performance and advising the Board. It is accountable for the Group's long-term development as well as its performance as measured against the corporate goals and targets established by the Board.

In addition to the Executive Committee, the Board has formed four other board committees to oversee specific issues, led by Board members with relevant expertise. These committees are the Audit Committee, the Nomination Committee, the Remuneration Committee and the Sustainability Committee. The Board and these committees collectively form the backbone of our corporate governance structure to drive and achieve best practices in corporate governance.

Internal Control and Compliance

Compliance with laws and regulations and risk management are the core elements of our corporate governance practices. The Audit Committee serves as a safeguard against risks at the Board level. Apart from monitoring financial reporting process, the committee is responsible for reviewing the Group's financial control, risk management and internal control systems, and arrangements under the Group's "Whistleblowing policy".

The Corporate Governance Steering Committee and the Disclosure Committee are formed under the Executive Committee to reinforce effective corporate governance practices and compliance procedures. The Finance Department, the Company Secretarial Department and the Group Audit & Risk Assurance Department form a three-pillar framework, overseeing internal controls and risk management. Each of these departments has clearly defined responsibilities. The Group has incorporated a comprehensive set of policies and guidelines into the very fabric of our risk management framework. The Group's values, principles and ethical standards as conveyed in the Group's policies clearly guide employees' daily business activities. Our policies include "Guidelines on Internal Control System", "Disclosure Policy for Inside Information", "Corporate Policy on Staff Responsibility" and "Whistleblowing Policy".

Anti-corruption and Whistleblowing

We are committed to high standards of transparency, integrity, accountability and business ethics. In line with this commitment, we have instigated a "Code of Conduct" and "Whistleblowing Policy" that stipulate the Group's principles, expectations of employee conduct and a reporting channel for any suspected misconduct.

Please click here to find out more about our corporate governance structure and practices.