01 | ABOUT NEXG 02 | OUR LEADERSHIP 03| OUR PERSPECTIVE 04 | SUSTAINABILITY 05 | GOVERNANCE 06 | FINANCIAL STATEMENTS 07 | OTHER INFORMATION ANNUAL REPORT 2026 Statement on Risk Management AND INTERNAL CONTROL (CONT'D) Regular Board and Board Committee meetings were conducted to maintain effective and sound governance practices. Decisions of the Board are made only after the relevant information has been considered and deliberated upon by the respective Board Committee and recommended to the Board. The Board reviewed and approved quarterly, and full year financial results announced to Bursa Malaysia and shareholders based on the ARMC’s recommendations. The Board also approved and implemented Group policies based on Board Committee recommendations to continuously improve the effectiveness and efficiency of the risk management and internal control system. Minutes of Board Committee meetings, recording pertinent deliberations and decisions, were subsequently presented to the Board for approval. The Group Management Committee comprises the Executive Directors and Key Senior Management having administrative or managerial authority, or the ability to facilitate or direct various personnel within the organisation to achieve overall objectives. Business Implementation Meetings are conducted fortnightly, or as and when considered necessary by the Executive Deputy Chairman / Chief Executive Officer. These meetings provide a forum for Management to discuss key strategic and operational matters, risks, issues and challenges encountered in the management of significant projects, as well as the status of key resolutions. Appropriate action plans are formulated, and continuous updates are obtained in subsequent meetings from the respective parties assigned until satisfactory resolution. The Sales and Marketing Meetings (“SAMM”) have been restructured into BO1, BO2, and BO3 business unit meetings, with each unit responsible for conducting its own regular operational meetings. These meetings are aligned to quarterly KPIs, with team members providing weekly progress updates for monitoring purposes. Following this transition, management is formalising a more structured and consistent meeting cadence to enhance governance, oversight, and coordination, including the maintenance of formal meeting minutes. The Group maintains an organisational structure that defines accountabilities, responsibilities and lines of reporting for each division and department within the Group. The organisational structure provides the framework to facilitate smooth and functional operations, as well as proper supervision, coordination and a sense of accountability among employees. The Discretionary Authority Limits (“DAL”) define and cover the delegation of responsibilities for existing and newly identified proposed transactions to selected and authorised personnel for various aspects of operations, in line with the Group's strategies and risk appetite. The DAL are reviewed periodically to ensure continued suitability, relevance and applicability to business operations and activities. 2. Regular Board and Board Committee Meetings 3. Group Management Committee 4. Organisational Structures 5. Discretionary Authority Limits KEY ELEMENTS OF THE INTERNAL CONTROL SYSTEMS OF THE GROUP (CONT'D) Policies and operating procedures governing the Group's key businesses and operations are documented and approved by Management or Heads of Department, as applicable. These policies and procedures provide guidance and direction for the proper management and governance of operations and business activities. Continuous reviews are carried out on the adequacy, appropriateness and comprehensiveness of the SOP developed to govern business processes and activities, to ensure compliance with applicable laws and regulations as well as significant changes in the business and operational environment. 6. Policies and Operating Procedures 9. W 128
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