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C

ode

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t

hou

g

h

t

he

C

o

m

pan

y

ha

s

no

t

adop

t

ed

t

he

C

o

r

po

r

a

t

e

G

o

v

e

r

nan

c

e

C

ode

, i

t

i

n

t

end

s

t

o

adop

t

s

u

c

h

p

r

o

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edu

r

e

s

a

s

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r

e

app

r

op

ri

a

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e

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o

r

t

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si

z

e

and

na

t

u

r

e

o

f

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he

C

o

m

pan

y

and

t

he

si

z

e

and

c

o

m

po

si

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on

o

f

t

he

B

oa

r

d

. T

he

s

e

c

o

r

po

r

a

t

e

g

o

v

e

r

nan

c

e

p

r

o

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edu

r

e

s

ha

v

e

been

s

e

l

e

c

t

ed

wi

t

h

due

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e

g

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r

d

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t

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p

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isi

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f

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K

C

o

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po

r

a

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e

G

o

v

e

r

nan

c

e

C

ode

i

n

pa

r

t

ic

u

l

a

r:

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gi

v

en

t

he

si

z

e

o

f

t

he

B

oa

r

d

, c

e

r

t

a

i

n

p

r

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v

isi

on

s

o

f

t

he

C

o

r

po

r

a

t

e

G

o

v

e

r

nan

c

e

C

ode

(

i

n

pa

r

t

ic

u

l

a

r

t

he

p

r

o

v

isi

on

s r

e

l

a

t

i

n

g

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t

he

c

o

m

po

si

t

i

on

o

f

t

he

B

oa

r

d

and

t

he

d

i

v

isi

on

o

f

r

e

s

pon

si

b

ili

t

i

e

s

be

t

w

een

t

he

C

ha

irm

an

and

c

h

i

e

f

e

x

e

c

u

t

i

v

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and

e

x

e

c

u

t

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o

m

pen

s

a

t

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on

)

,

a

r

e

no

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be

i

n

g c

o

m

p

li

ed

wi

t

h

b

y

t

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C

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m

pan

y

a

s

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oa

r

d

c

on

si

de

rs

t

he

s

e

p

r

o

v

isi

on

s

t

o

be

i

napp

lic

ab

l

e

t

o

t

he

C

o

m

pan

y

;

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gi

v

en

t

he

si

z

e

o

f

t

he

B

oa

r

d

,

t

he

boa

r

d

ha

s

no

t

e

s

t

ab

lis

hed

an

aud

i

t

c

o

mmi

tt

ee

,

a

r

e

m

une

r

a

t

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on

c

o

mmi

tt

ee

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a

no

mi

na

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on

c

o

mmi

tt

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c

o

m

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risi

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e

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t

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v

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d

ir

e

c

t

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r i

n

ea

c

h

c

o

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tt

ee

. T

he

B

oa

r

d

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t

a

k

i

n

g

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e

s

pon

si

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e

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w

aud

i

t

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ris

k

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tt

e

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s w

e

ll

a

s

t

he

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oa

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d

’s si

z

e

, s

t

r

u

c

t

u

r

e

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m

po

si

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on

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he

sc

a

l

e

and

s

t

r

u

c

t

u

r

e

o

f

t

he

d

ir

e

c

t

o

rs’

f

ee

s,

t

a

k

i

n

g i

n

t

o

a

cc

oun

t

t

he

i

n

t

e

r

e

s

t

s

o

f

S

ha

r

eho

l

de

rs

and

t

he

pe

r

f

o

rm

an

c

e

o

f

t

he

C

o

m

pan

y

,

and

will

t

a

k

e

r

e

s

pon

si

b

ili

t

y

f

o

r

t

he

appo

i

n

t

m

en

t

o

f

aud

i

t

o

rs

and

pa

y

m

en

t

o

f

t

he

ir

aud

i

t

f

ee

, m

on

i

t

o

r

and

r

e

v

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e

w

t

he

i

n

t

e

gri

t

y

o

f

t

he

C

o

m

pan

y

’s

f

i

nan

ci

a

l

s

t

a

t

e

m

en

t

s

and

t

a

k

e

r

e

s

pon

si

b

ili

t

y

f

o

r

an

y

f

o

rm

a

l

announ

c

e

m

en

t

s

on

t

he

C

o

m

pan

y

’s

f

i

nan

ci

a

l

pe

r

f

o

rm

an

c

e

.



t

he

C

o

r

po

r

a

t

e

G

o

v

e

r

nan

c

e

C

ode

r

e

c

o

mm

end

s

t

he

s

ub

missi

on

o

f

a

ll

d

ir

e

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t

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f

o

r r

e

-

e

l

e

c

t

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on

a

t

annua

l

i

n

t

e

r

v

a

ls.

N

one

o

f

t

he

d

ir

e

c

t

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rs will

be

r

equ

ir

ed

t

o

r

e

t

ir

e

b

y

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o

t

a

t

i

on

and

be

s

ub

mi

tt

ed

f

o

r r

e

-

e

l

e

c

t

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on

;

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t

he

B

oa

r

d

ha

s c

o

m

p

li

ed

wi

t

h

t

he

p

r

o

v

isi

on

o

f

t

he

C

o

r

po

r

a

t

e

G

o

v

e

r

nan

c

e

C

ode

t

ha

t

a

t

l

ea

s

t

ha

l

f

o

f

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oa

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e

x

cl

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ha

irm

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, s

hou

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o

m

p

ris

e

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d

ir

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rmi

ned

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y

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oa

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d

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o

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i

ndependen

t

.

6

S

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L

A

ND

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KF Li

tt

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ohn

LL

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,

ha

v

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p

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c

on

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nue

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ff

ic

e

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ls

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ha

irm

an

31 M

a

y

2023

B

y

o

r

de

r

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7

S

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A

L

A

ND

C

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S

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c

t

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a

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pon

si

b

l

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f

o

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p

r

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n

g

t

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annua

l r

epo

r

t

and

t

he

f

i

nan

ci

a

l s

t

a

t

e

m

en

t

s i

n

a

cc

o

r

dan

c

e

wi

t

h

app

lic

ab

l

e

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a

ws

and

r

e

g

u

l

a

t

i

on

s. T

he

d

ir

e

c

t

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rs

a

r

e

r

equ

ir

ed

t

o

p

r

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r

e

f

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ci

a

l s

t

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t

e

m

en

t

s

f

o

r

t

he

G

r

oup

i

n

a

cc

o

r

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c

e

wi

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n

t

e

r

na

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l Fi

nan

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a

l R

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r

t

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g S

t

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r

d

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(

“IFRSs”

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.

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he

d

ir

e

c

t

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rs m

u

s

t

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t

app

r

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e

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f

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a

l s

t

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l

e

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y

a

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e

s

a

t

is

f

i

ed

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ha

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y

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v

e

a

t

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ue

and

f

a

ir

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f

a

ff

a

irs

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f

t

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G

r

oup

and

o

f

t

he

p

r

o

f

i

t

o

r l

o

ss

o

f

t

he

G

r

oup

f

o

r

t

ha

t

pe

ri

od

. I

n

p

r

epa

ri

n

g

t

he

f

i

nan

ci

a

l s

t

a

t

e

m

en

t

s,

t

he

d

ir

e

c

t

o

rs

a

r

e

r

equ

ir

ed

t

o

:

-

S

e

l

e

c

t

s

u

i

t

ab

l

e

a

cc

oun

t

i

n

g

po

lici

e

s

and

t

hen

app

l

y

t

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m c

on

sis

t

en

t

l

y

;

-

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k

e

j

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gm

en

t

s

and

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oun

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g

e

s

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a

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e

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t

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e

w

he

t

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r

app

lic

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l

e

IFRSs

ha

v

e

been

f

o

ll

o

w

ed

, s

ub

j

e

c

t

t

o

an

y

m

a

t

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ri

a

l

depa

r

t

u

r

e

s

d

iscl

o

s

ed

and

e

x

p

l

a

i

ned

i

n

t

he

f

i

nan

ci

a

l s

t

a

t

e

m

en

t

s;

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epa

r

e

t

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i

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ci

a

l s

t

a

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e

m

en

t

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on

t

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g

o

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g c

on

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t

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s

u

m

e

t

ha

t

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C

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m

pan

y

will c

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ss.

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e

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si

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d

s

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t

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t

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w

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G

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c

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s

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e

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en

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a

w. T

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y

a

r

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a

ls

o

r

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s

pon

si

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e

f

o

r

s

a

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ua

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ss

e

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o

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G

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oup

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e

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t

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e

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s

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o

r

t

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p

r

e

v

en

t

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on

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t

e

c

t

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on

o

f

f

r

aud

and

o

t

he

r irr

e

g

u

l

a

ri

t

i

e

s.

T

he

d

ir

e

c

t

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a

r

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r

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pon

si

b

l

e

f

o

r

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m

a

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n

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e

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t

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uded

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C

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’s w

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L

e

gisl

a

t

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y

m

an

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and

s g

o

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uded

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s m

a

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m l

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Di

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12

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en

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y

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w

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G

r

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on

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n

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ee

i

f

,

and

on

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y

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f

,

t

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G

r

oup

ha

s:



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o

w

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v

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(

i.

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e

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n

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w

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, i

n

cl

ud

i

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g:

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he

c

on

t

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a

c

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ua

l

a

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an

g

e

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t

(

s

)

wi

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ee

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Rig

h

t

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a

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n

g

f

r

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m

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he

r c

on

t

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a

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ua

l

a

rr

an

g

e

m

en

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s

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he

G

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oup

’s

v

o

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g rig

h

t

s

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l

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s

(

i

)

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u

si

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ss c

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m

b

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oup

a

cc

oun

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f

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r

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si

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m

b

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ed

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oup

. T

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c

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f

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ed

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irm

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. Tr

an

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ea

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v

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da

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qu

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on

. I

f

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ob

lig

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t

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.

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ed

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(

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and

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f

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and

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r c

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G

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ea

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t

.

(

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e

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nu

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i

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R

e

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enue

is r

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g

n

is

ed

t

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dep

ic

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an

s

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n

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a

m

oun

t

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r

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w

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ic

h

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G

r

oup

e

x

pe

c

t

s

t

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be

en

t

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l

ed

i

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e

x

c

han

g

e

f

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e

g

ood

s

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r s

e

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v

ic

e

s.

S

pe

ci

f

ic

a

ll

y

,

t

he

G

r

oup

u

s

e

s

a

5

-

s

t

ep

app

r

oa

c

h

t

o

r

e

v

enue

r

e

c

o

g

n

i

t

i

on

:

S

t

ep

1:I

den

t

i

fy

t

he

c

on

t

r

a

c

t

(

s

)

wi

t

h

a

c

u

s

t

o

m

e

r;

S

t

ep

2:I

den

t

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fy

t

he

pe

r

f

o

rm

an

c

e

ob

lig

a

t

i

on

s i

n

t

he

c

on

t

r

a

c

t

;

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t

ep

3:

D

e

t

e

rmi

ne

t

he

t

r

an

s

a

c

t

i

on

p

ric

e

;

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t

ep

4:All

o

c

a

t

e

t

he

t

r

an

s

a

c

t

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on

p

ric

e

t

o

t

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pe

r

f

o

rm

an

c

e

ob

lig

a

t

i

on

s i

n

t

he

c

on

t

r

a

c

t

;

and

S

t

ep

5:R

e

c

o

g

n

is

e

r

e

v

enue

w

hen

(

o

r

a

s

)

t

he

en

t

i

t

y

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