CORPORATE GOVERNANCE STATEMENT CONT. Recommendation Comply Yes / No Reference /  Explanation ASX Listing Rule  (LR) /CGC  Recommendation Principle 5 - Make timely and balanced disclosure  5.1 Companies should establish written policies  designed to ensure compliance with ASX  listing rule disclosure requirements and to  ensure accountability at a senior executive  level for that compliance and disclose those  policies or a summary of those policies. Yes Website ASX CGC 5.1 5.2 Companies should provide the information  indicated in the guide to reporting on  Principle 5. Yes Page 48 ASX CGC 5.2 Principle 6 - Respect the rights of shareholders  6.1 Companies should design a communications  policy for promoting effective communication  with shareholders and encouraging their  participation at general meetings and disclose  their policy or a summary of that policy. Yes Page 48 ASX CGC 6.1 6.2 Companies should provide the information  indicated in the guide to reporting on  Principle 6. Yes - ASX CGC 6.2 Principle 7 - Recognise and manage risk 7.1 Companies should establish policies for  the oversight and management of material  business risks and disclose a summary of  those policies. Yes Page 46 ASX CGC 7.1 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. Yes Page 46 ASX CGC 7.2 7.3 The Board should disclose whether it has  received assurance from the Chief Executive  Officer (CEO) [or equivalent] and the Chief  Financial Officer (CFO) [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. Yes Page 47 ASX CGC 7.3 7.4 Companies should provide the information  indicated in the guide to reporting on  Principle 7. Yes Page 47 and website ASX CGC 7.4 40 Australian Agricultural Company Limited