IRPC Annual Report 2023

Composition and Skills Matrix of the Board of Directors (as of December 31, 2023) Corporate Governance Structure The organizational structure of IRPC Public Company Limited comprises shareholders, the Board of Directors, and the management team, led by the Chief Executive Officer and President. The Board is answerable to shareholders, and the management team is accountable to the Board. The design of the company’s management structure prioritizes efficient management and adheres to good corporate governance principles. This structure forms the foundation for the interconnected relationships between shareholders, the Board, and the management. The balanced relationship fosters corporate competitiveness and ensures long-term value for shareholders, all while giving due consideration to stakeholders in an equitable, fair, and socially responsible manner. This approach aligns with the company’s commitment to sustainable growth. Aligned with the principles of good corporate governance, a company’s shareholders delegate the responsibility of governance oversight to the Board of Directors. The Board plays a pivotal role by articulating the company’s vision, providing business direction, formulating policies, setting goals, devising strategic plans, and approving annual budgets for implementation by the management to achieve predetermined objectives. Simultaneously, the Board offers supervision to ensure operational transparency, efficiency, and maximum benefits for shareholders, ensuring favorable returns on their investments. This approach results in the company generating profits, achieving sustainable growth, and prioritizing the well-being of employees through fair compensation and comprehensive care. Board of Directors The Board of Directors consists of 15 directors, appropriate for the size, type and complexity of IRPC’s business. The composition of the current Board members is as follows: • Fourteen non-executive directors (93 percent of the entire board) • One executive director (Chief Executive Officer and President) As of December 31, 2023, there were 14 directors on IRPC’s Board (one director passed away on December 26, 2023). Of these 14 Board members, seven were independent directors (more than 50 percent of the entire Board), and three female directors (21 percent of the Board). Professional profiles of members of the Board appear under “Board of Directors” section. 5 Engineering 10 Energy, Petroleum, Petrochemical 14 Business Administration 1 Environment 4 Finance/ Accounting/Audit 2 Economics 4 Law 1 Human Resource Management 2 Political Science/ Social Development 1 New Business 14 Corporate Governance Male 11 Non-Executive Director 13 The average tenure is 2.3 years years. Female 3 Independent Directors 7 Executive Director 1 Year in service 0-3 years 10 3-6 years 4 220 Corporate Governance Structure and Important Information about the Board of Directors, Board’s Committees, Executives and Employees IRPC Public Company Limited

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