S-OIL held three executive workshops in 2020 to respond to climate change and enhance its sustainable management system, and in 2021 the Company established an ESG Steering Committee composed of executives from each function, including production, marketing, finance, planning, human resources, and legal, to review, evaluate, and make decisions on ESG KPIs and other key issues at regular quarterly meetings. In 2022, the Company established the ESG Committee under the Board of Directors, which was formally approved at the 2023 Annual General Meeting. The ESG Committee oversights the Company's overall strategy, policies, and performance on ESG issues, including climate change, and meets regularly semi-annually. [...] The Sustainability Management Team, as the risk owner for climate change, performs a quarterly quantitative assessment of climate-related issues and establishes a risk response process. In addition, the ERM Committee, composed of senior executives including the CEO, conducts a final review of risk management activities, including climate change, on a quarterly basis, determines necessary responses, and makes decisions on company-wide risk management policies.