The governing body ensures that the appointment and delegation to management promotes operational effectiveness and that the respective roles and decision-making powers of the governing body and management are clearly defined.

Exception declaration

All the recommended practices in support of Principle 7 have been implemented.

Specific disclosures

(a) Disclosures in relation to the CEO (Chief Executive Officer):

1. The notice period stipulated in the CEO's employment contract and the contractual conditions related to termination.
   
   A notice period of 12 months is stipulated in the CEO's employment contract.
   
   For more information regarding contractual conditions relating to termination, please refer to the heading 'Termination provisions' in section 2 (Remuneration policy) in our 2025 Remuneration Report.

2.  

3. Whether the governing body is satisfied that the succession planning in place for the CEO position adequately safeguards leadership continuity and the stability of the organisation.
   
   The board is satisfied that succession planning in place for the CEO position adequately safeguards leadership continuity and the stability of the organisation. The Group DAC reviews succession plans for Group Exco members to ensure that a management succession plan is in place.

(b) Disclosures in relation to delegation to management:

1. Whether the governing body is satisfied that the delegation of authority framework contributes to operational effectiveness and ensures clear definition of the respective roles and decision-making authority of the governing body and management.
   
   The board is satisfied that the delegation of authority framework and ERMF contribute to operational effectiveness and ensure the clear definition of the respective roles and decision-making authority of the governing body and management.
   
   For more information, please refer to the sections with the headings 'Board's primary governance roles and responsibilities' and 'Board and committee evaluations' in the 'Governance Review' chapter of our 2025 Governance Report.
2. 
   
   
3. Whether the governing body is satisfied that the CEO has implemented succession planning for executive management and other critical positions that ensures depth and continuity of leadership.
   
   The board is satisfied that the CEO has implemented succession planning for executive management and other critical positions that ensures depth and continuity of leadership. Group DAC annually reviews and oversees executive management succession planning and all boardmembers are invited to attend these meetings.
   
   For more information, please refer to the section with the heading 'Board and committee evaluations' in the 'Governance Review' chapter of our 2025 Governance Report.

(c) Disclosures in relation to professional corporate governance services to the governing body:

1. Whether the governing body is satisfied with its arrangements for access to professional and independent guidance on its legal and corporate governance duties, as well as support for its effective functioning.
   
   The board is satisfied with its arrangements for access to professional and independent guidance on its legal and corporate governance duties, as well as support for its effective functioning. Non-executive directors may, after having discussed with the board Chairperson, the Lead Independent Director or the Group Company Secretary, obtain external legal or other independent professional advice at the cost of the group.