01 | ABOUT NEXG 02 | OUR LEADERSHIP 03| OUR PERSPECTIVE 04 | SUSTAINABILITY 05 | GOVERNANCE 06 | FINANCIAL STATEMENTS 07 | OTHER INFORMATION ANNUAL REPORT 2026 Audit and Risk Management COMMITTEE REPORT (CONT'D) 2. External Auditors (Cont'd) e) i. Independence and objectivity a) b) The external audit firm, with emphasis on key professional staff assigned to the engagement, to ensure independence, competency and objectivity in fact and appearance; The terms of the Audit Engagement Partner and Engagement Quality Reviewer on the issues of rotation requirements from risk and best practice perspectives; Measures to track evolving best standards and practices on independence and ethical rules to ensure continuous compliance; A detailed list of non-audit services rendered and related fees, focusing on the potential impact on professional independence. - - - - Reviewed and discussed the professional independence of the External Auditors for the financial year ended 31 March 2026, including assessment of the following: The External Auditors provided written assurances to the ARMC that they had continuously complied with the relevant ethical requirements regarding professional independence with respect to the audited financial statements of the Company and of the Group, in accordance with the firm's requirements and the provisions of the ByLaws on Professional Independence of the Malaysian Institute of Accountants. The External Auditors also confirmed that non-audit services provided to the Group during the year were in accordance with independence requirements and had not compromised their independence. The ARMC reviewed the summary of non-audit services rendered to the Group, comprising mainly recurring assignments in respect of tax compliance, tax advisory, review of transfer pricing documentation, agreed-upon procedures and the annual review of the Statement on Risk Management and Internal Control. A. SUMMARY OF ACTIVITIES OF THE AUDIT AND RISK MANAGEMENT COMMITTEE FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026 (CONT'D) A questionnaire checklist was applied to determine the minimum performance assessment procedures on the quality and effectiveness of the external audit function for the purpose of recommending to the Board on the question of re-appointment. The assessment also considered the information disclosed by the External Auditors in their Annual Transparency Report, particularly in areas related to their legal and governance structure, measures to uphold audit quality and manage risks, and measurement of audit quality indicators, including those emphasised in the announcement issued by the Securities Commission's Audit Oversight Board (“AOB”) in April 2022. Input and feedback were also obtained from Management, who had close contact and involvement with the External Auditors throughout the financial year. The assessment and evaluation covered the following areas: 120
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