Expectra is committed to the highest levels of corporate governance. We are committed to the principals of discipline, independence, responsibility, transparency and accountability as advocated in the second King Report on Corporate Governance.

Good governance and compliance essentially constitute the practice by which companies are managed and controlled and are about being responsible and exercising disciplined, practical and accountable leadership in a transparent, fair and independent manner.

Corporate governance is the framework adopted by Expectra to instill good governance that is linked strategically with performance management, thereby enabling our company to focus on the key areas that move our business forward. Expectra recognises that good governance and compliance practices form a crucial step in developing and sustaining any successful business, and is committed to encourage good governance and compliance processes adopted into all its operations in future.

Expectra's governance and compliance strategy, objectives and structures have been designed to ensure that the group complies with numerous codes and legislation, while at the same time moving beyond accountability and assurance issues to value creation and resource utilisation issues.

Corporate governance and compliance (CGC) constitute part of the entire accountability framework of Expectra, and calls for a balance between accountability and assurance (conformance) and value creation and resource utilisation (performance).

Conformance covers issues such as board structures and roles and executive remuneration and focuses on strategy and value creation, helping the board to:

• provide strategic decisions;
• understand its appetite for risk and the key drivers of performance; and
• identify key principles of decisionmaking.

Focusing on important business aspects of Corporate Governance ensures that strategic goals are aligned and excellent management is achieved.

The compliance function ensures compliance not only with regulatory laws and standards, but also with Expectra's internal policies and procedures.

A strong network of divisional governance and compliance officers works closely together with the central CGC team in training, project implementation, monitoring and the creation of a governance and compliance culture.

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