AUDIT AND RISK MANAGEMENT COMMITTEE REPORT Pursuant to Paragraph 15.15(1) of the MMLR, the Board is pleased to present this ARMC Report which provides an overview of the manner in which the ARMC has discharged its duties and responsibilities during FYE 2025. COMPOSITION AND MEETINGS The ARMC is established to assist the Board in fulfilling its fiduciary duties and responsibilities, particularly in providing oversight over the integrity of the Group’s financial reporting and corporate accounting processes, the adequacy and effectiveness of the Group’s risk management and internal control systems, as well as sustainability-related matters. In addition, the ARMC is responsible for overseeing the independence, objectivity and performance of both external and internal audit functions within the Group. The ARMC comprises 3 members, all of whom are Independent Non-Executive Directors, and is chaired by Puan Julannar Binti Abd Kadir, a Fellow Member of CIMA and member of MIA. None of the ARMC members serve as alternate Directors nor are they former partners of the Group’s external audit firm. Accordingly, the composition of the ARMC complies with the requirements of Paragraph 15.09 of the MMLR and Principle B(I) of MCCG. Furthermore, the roles of the Board Chairperson and the ARMC Chairperson are held by different individuals, thereby reinforcing the independence, integrity and objectivity of the Group’s financial reporting and audit oversight processes. Pursuant to its Terms of Reference, the ARMC is required to meet at least 4 times in each calendar year. During the FYE 2025, the ARMC held 5 meetings, and the attendance record of the respective ARMC members is as follows: Designation Name Directorship Meeting Attendance Chairperson Julannar Binti Abd Kadir Independent Non-Executive Director 5/5 Member Lim Chee Hwa Independent Non-Executive Director 5/5 Member Chia Chee Hoong Independent Non-Executive Director 5/5 The Group CFO was invited to attend all ARMC meetings held during the FYE 2025 to give briefings or reports to the ARMC on the Group’s business operations, financial performance and audit-related matters. When necessary, representatives of the External Auditors, Internal Auditors and Senior Management were also invited to attend the ARMC meetings to deliberate on matters within their purview with Company Secretary in attendance. Meeting agenda and relevant materials were circulated to the ARMC members in advance of each meeting to allow sufficient time for review and consideration, thereby facilitating informed deliberations and effective decisionmaking during the meetings. At each Board meeting held following the conclusion of the ARMC meetings, the ARMC Chairperson updated the Board on the key matters deliberated and decisions made and recommendations made by the ARMC for the Board’s further discussion, deliberation and approval, where applicable. All proceedings, discussions and decisions made during the ARMC meetings were duly recorded by the Company Secretary. The meeting minutes were then tabled at the subsequent ARMC meeting for confirmation and thereafter presented to the Board for their attention. These minutes were then properly documented and maintained in accordance with applicable regulations and governance practices. AUTHORITY, DUTIES AND RESPONSIBILITIES The ARMC is guided by its Terms of Reference, which set out, inter alia, the ARMC’s authority, duties and responsibilities, meeting proceedings and reporting procedures. The Terms of Reference of the ARMC was last reviewed and approved by the Board on 15 April 2025, and the latest version is made available on the Company’s website at www.keyfieldoffshore. com/corporate-governance. 128 KEYFIELD INTERNATIONAL BERHAD 202001038989 (1395310-M)
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