1) Mr. Anusorn Sangnimnuan (Independent Director) Chairman of the Risk Management Committee 2) Mr. Sukrit Surabotsopon (Independent Director) Risk Management Committee 3) Mr. Ekniti Nitithanprapas (Director) Risk Management Committee 4) Ms. Peangpanor Boonklum (Director) Risk Management Committee 5) Mr. Chawalit Tippawanich (Director) Risk Management Committee Mr. Somkiat Lertritpuwadol, Executive Vice President Corporate Strategy Planning and Business Development serves as secretary to the Risk Management Committee from February 2019 - Present. (Mr. Somkiat Lertritpuwadol’s professional profile appears under Executive Profiles Page 49) 4. Risk Management Committee The Risk Management Committee shall consist of at least three directors who are petroleum or petrochemical experts. The committee is tasked with formulating risk management policy, risk management plan and procedures across the entire company that are aligned with IRPC business plan and strategies. Its current members are: Term of Office 1. Risk Management Committee member’s term of office shall be equal to that of their directorship (Up to three years). 2. Members who complete their terms of office may be reappointed, subject to the Board’s discretion. But they may serve no more than three consecutive terms, or up to a combined total of nine years. There shall be no exceptions. Duties and Responsibilities 1. Formulate sui table, ef fect ive pol icy and give recommendations on the management of risks associated with IRPC’s business operations. 2. Provide oversight for enterprise-wide risk management, starting with identification of risks based on internal and external factors. All units shall conduct risk assessment and rank those risks based on impact and likelihood of them happening, so appropriate risk management measures can be taken. 3. Develop risk management systems and promote effective use of risk management tools, such as derivatives, futures and hedging, etc. 4. Supervise, monitor and review the corporate risk management to ensure its effectiveness as well as assessing compliance with the risk management framework. 5. Report risk management assessment results and risk mitigating activities to the Board on a regular basis, and in the case of risk event that may adversely affect IRPC’s operations, report to the Board immediately. 6. Provide support for establishment and continuing development of risk management that is constantly in alignment with IRPC’s business plan. 7. Give advice on risk management for investment projects or activities with considerable technical complications, long-term obligations, and are potentially exposed to significant risks. 8. Disclose the report of the Risk Management Committee in the annual report. 9. Perform other tasks assigned by the Board. 1) 3) 2) 4) 5) 235 Corporate Governance Structure and Important Information about the Board of Directors, Sub-committees, Executives, Employees and Others IRPC PUBLIC COMPANY LIMITED
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