Principle # ASX Corporate Governance Council Recommendations (continued) Reference Comply 3.2 Establish a policy concerning trading in company securities by directors, senior executives  and employees and disclose the policy or a summary. 4(b) Yes 3.3 Provide the information indicated in the Guide to reporting on principle 3. 4(a), 4(b) Yes  Principle 4 Safeguard integrity in financial reporting 4.1 The board should establish an audit committee. 3(a) Yes 4.2 The audit committee should be structured so that it: 3(a) No • consists only of non-executive directors; • consists of a majority of independent directors; • is chaired by an independent chair, who is not chair of the board; and • has at least three members. 4.3 The audit committee should have a formal charter 3(a) Yes 4.4 Provide the information indicated in the Guide to reporting on principle 4. 3(a) Yes Principle 5 Make timely and balanced disclosure 5.1 Establish written policies designed to ensure compliance with ASX Listing Rule disclosure  requirements and to ensure accountability at senior executive level for that compliance  and disclose those policies or a summary of those policies. 5(a), 5(b) Yes 5.2 Provide the information indicated in the Guide to reporting on principle 5. 5(a), 5(b) Yes Principle 6 Respect the rights of shareholders 6.1 Design a communications policy for promoting effective communication with shareholders  and encouraging their participation at general meetings and disclose the policy or a  summary of that policy. 5(a), 5(b) Yes 6.2 Provide the information indicated in the Guide to reporting on principle 6. 5(a), 5(b) Yes Principle 7 Recognise and manage risk 7.1 Establish policies for the oversight and management of material business risks and  disclose a summary of those policies. 6(a) Yes 7. 2 The board should require management to design and implement the risk management and  internal control system to manage the company’s material business risks and report to  it on whether those risks are being managed effectively. The board should disclose that  management has reported to it as to the effectiveness of the company’s management of  its material business risks. 6(a), 6(b),  6(d) Yes 7. 3 The board should disclose whether it had received assurance from the chief executive  officer (or equivalent) and the chief financial officer (or equivalent) that the declaration  provided in accordance with section 295A of the Corporations Act is founded on a sound  system of risk management and internal control and that the system is operating  effectively in all material respects in relation to financial reporting risks. 6(c) Yes 7. 4 Provide the information indicated in the Guide to reporting on principle 7. 6(a), 6(b),  6(c), 6(d) Yes Principle 8 Remunerate fairly and responsibly 8.1 The board should establish a remuneration committee. 3(b) Yes 8.2 Clearly distinguish the structure on non-executive directors’ remuneration from that of  executive directors and senior executives. 3(b), Re- muneration  Report Yes 8.3 Provide the information indicated in the Guide to reporting on principle 8. 3(b) Yes 40  CORPORATE GOVERNANCE STATEMENT