Remgro Ltd

Remgro's Strategic ESG Committee, a Board subcommittee established in 2021, continues to provide oversight and guidance to the Board regarding all matters related to ESG, supported by the Operational ESG Committee. The Strategic ESG Committee which meets quarterly, plays an important role together with the Audit and Risk Committee in overseeing and monitoring Remgro's ESG performance and stewardship through policies, frameworks, standards and guidelines. [...] The Social and Ethics Committee assists the Board in ensuring Remgro continues to be a good corporate citizen and runs in accordance with its purpose by monitoring its ESG and sustainability practices. The committee, which meets at least twice a year, also works closely with the Strategic ESG Committee and is required to report to shareholders on ESG and sustainability performance at Remgro's Annual General Meeting.

Remgro's Board is ultimately accountable for the performance of the Company, appreciating that strategy, risk, performance and sustainability are inseparable. In this regard the Board has delegated the general oversight and reporting of sustainability to the Audit and Risk Committee, assisted by the Social and Ethics Committee. The role and function of these committees are dealt with in more detail in the Corporate Governance Report and the Social and Ethics Committee Report on pages 70 and 111 of the Integrated Annual Report respectively. [...] The ultimate custodian of sustainability at Distell is the social and ethics committee (SEC), which oversees Distell's sustainability performance and provides feedback to the board on whether it believes the business is fulfilling its social and ethical obligations as a good and responsible corporate citizen. The purpose and role of the SEC is to assist the board with discharging its responsibility to monitor Distell's activities with regard to social and economic development, good corporate citizenship, the environment, health and public safety, consumer relationships and labour and employment matters.

During the year under review, a formal Strategic ESG Committee of the Remgro Board, as well as an Operational ESG Committee (a subcommittee of the Strategic ESG Committee) was formed to formally address the ESG environment through a formalised terms of reference. [...] The Remgro Board has overall responsibility for environmental practices implemented and maintained by its head office operations ("Remgro's head office" or "the investment company itself" or "Remgro Management Services Limited (RMS) and the subsidiaries managed and administered by it") and these are overseen by both the Social and Ethics Committee and the Risk, Opportunities, Technology and Information Governance Operational Subcommittee (a subcommittee of the Audit and Risk Committee). This is in line with the Remgro Safety, Health and Environment Management (SHE) Policy, which commits Remgro's head office to full regulatory compliance; minimisation of environmental impact; participation in relevant reporting outputs; responsible environmental investment; and transparency in environmental reporting procedures.

Remgro's Strategic ESG Committee was established, chaired by non-executive director, Mr Murphy Morobe. It meets quarterly to provide oversight on the incorporation of the ESG strategy, policies and rationale into investment decisions. [...] An Operational ESG Committee meets monthly and is chaired by Mr Pieter Uys, who is a member of the Executive Management Committee and serves on the Strategic ESG Committee. The committee is further supported by our Executive Director Compliance and CSI, Mrs Mariza Lubbe and the ESG Manager, Ms Tanis Brown. [...] The Audit and Risk Committee continues to provide oversight into ESG risk matters and the rigour of data. An ESG risk register is being developed. [...] The Investment Committee, a subcommittee of the Board, is responsible for authorising new investments, extension and disposal of existing investments and making recommendations to the Board regarding all other investments outside of its mandate. The Investment Committee is also tasked with ensuring ESG matters are integrated into investment and management practices through its ESG Investment Framework in conjunction with the Strategic ESG and Operational ESG Committees.

### Governance and oversight

Remgro's Strategic ESG Committee, a Board sub-committee established in 2021, continues to provide oversight and guidance to the Board regarding all matters related/relating to ESG, supported by the Operational ESG Committee. The Strategic ESG Committee plays an important role in supporting the Board in overseeing and monitoring Remgro's ESG performance and stewardship through policies, frameworks, standards and guidelines.

As part of its established Board-level governance mechanisms, procedures and policies, Remgro has implemented several initiatives to integrate ESG across the Group and its investee companies in support of Remgro's sustainability ambitions. Progress in this regard continues to inform performance and incentive mechanisms for management.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Remgro and its subsidiaries are represented by various business unit representatives who engage with Government, Regulators, Industry Bodies and Business Partners on policy issues impacting the business including climate change. The various operating unit representatives meet on a regular basis with their associations to debate and give recommendations on various topics to ensure sustainability in their business models. Feedback on issues is reported as per the Remgro Risk Management policy.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Commentary and inputs to the draft bill on carbon tax was provided outlining the negative impact of this tax on industry