Corporate Governance

Our commitment to strong corporate governance practices benefits our customers by ensuring fairness and integrity, transparency, accountability and ethical behavior alongside stakeholder engagement in all our operations. This helps build trust, foster long-term relationships, and strengthen our reputation as a responsible and sustainable business.

SMIC practices good corporate governance in all its dealings with all stakeholders, investors, business partners, creditors, customers and employees because SMIC believes that good corporate governance will provide the long-term growth, sustainability and success to the Company. SMIC’s good corporate governance framework and practices are part of the Company’s core values that are anchored on the principles of fairness, integrity, accountability, transparency and stakeholder engagement.

Corporate Governance Policies

Enterprise Risk Management

SMIC implements a program of risk management through the identification, analysis, management and monitoring of risks which can most impact the Company’s ability to pursue its approved strategy.

The Board of Directors is tasked to oversee the risk management system of the Company through the Risk Management Committee. Details of the Company’s risk management system may be found on the below link.

Board and Management

SM Investments Corporation’s Board of Directors set the tone from top and uphold the highest standard of excellence and integrity.

Composition

As of June 10, 2024, the Board is composed of nine (9) highly qualified directors, five (5) or fifty-six percent (56%) of whom are independent directors including our Chairman of the Board. In accordance with the Company’s Manual on Corporate Governance, the Board shall always have at least three (3) independent directors. Independent directors are directors who are free from management responsibilities, substantial shareholdings and material relations, which could be perceived to impede the performance of independent judgment. Independent directors are tasked to encourage impartial discussions at board meetings, monitor and provide feedback on Management’s performance, and safeguard the interests of the Company’s various stakeholders.

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