01 | ABOUT NEXG 02 | OUR LEADERSHIP 03| OUR PERSPECTIVE 04 | SUSTAINABILITY 05 | GOVERNANCE 06 | FINANCIAL STATEMENTS 07 | OTHER INFORMATION Governance Reviewed and discussed the quarterly Management Reports and Accounts of the Company and of the Group, as well as the unaudited quarterly consolidated financial results for announcement, and made recommendations to the Board for approval before release to Bursa Malaysia. To uphold the integrity of the financial statements, the Chief Financial Officer and the Financial Controllers attended all ARMC meetings held throughout the financial year and confirmed that: - Appropriate accounting policies had been adopted and applied consistently; - Prudent and realistic estimates had been made in accordance with the requirements of the capplicable MFRSs; Reviewed and discussed with Management the adequacy of processes and controls in place for effective and meaningful financial reporting and disclosures to support the integrity of financial information issued by the Group. Reviewed and discussed with Management the appropriateness of bases and relevant documentation as evidence supporting the recoverability and fair value of major assets. Reviewed and discussed with Management new developments in accounting standards that may have a bearing on financial reporting and disclosures. Reasonable assurances on the implementation of applicable changes were also obtained from Management. Reviewed and discussed with Management the Annual Group Budget for FY2025/2026, covering financial performance and the financial position as at 31 March 2026. The review also encompassed related cash flow budgets, the appropriateness of bases and assumptions applied, and the tracking and conduct of budgetary controls by Management. In February 2026, reviewed and discussed the Audit Planning Memorandum of the External Auditors for the financial year ended 31 March 2026. This covered the engagement and reporting requirements, audit approach, areas of audit emphasis including key audit matters, significant events during the year, group audit, reliance on internal audit, the engagement team, reporting and deliverables, proposed audit fees, responsibilities of Directors and Auditors, independence of the Auditors and new developments in accounting standards. In May 2026, reviewed and discussed the Audit Status based on the Audit Planning Memorandum, covering key audit observations, misstatements, observations on internal controls as part of their audit procedures, status of the group audit, fees and the list of outstanding confirmations and information. The ARMC also reviewed the draft Audit Financial Statements, which were subject to the final agreement on the Audit Closing Memorandum. In June 2026, reviewed and discussed the Audit Closing Memorandum issued by the External Auditors on the completion of the annual year-end audit. In June 2026, reviewed and discussed the draft audited financial statements of the Company and of the Group for the financial year ended 31 March 2026, and the draft Annual Report 2025/2026 encompassing all relevant disclosure statements in line with the MMLR, before recommending the same to the Board for approval. In accordance with the External Auditors Assessment Policy and paragraph 15.21 of the MMLR, the ARMC undertook an annual assessment in May 2026 on the performance of the External Auditors, focusing on suitability, objectivity and professional independence, together with the Chief Financial Officer and Management. The External Auditors' Assessment Policy is available on the Group's website at www.nexg.com.my. A. SUMMARY OF ACTIVITIES OF THE AUDIT AND RISK MANAGEMENT COMMITTEE FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026 (CONT'D) Audit and Risk Management COMMITTEE REPORT (CONT'D) 1. Financial Reporting (Cont'd) 2. External Auditors b) c) d) e) f) a) b) c) d) e) 119
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