Upholding Good Governance and Economic Resilience Press Metal Aluminium Holdings Berhad SECTION 5 • DELIVERING SUSTAINABLE VALUE FOR OUR STAKEHOLDERS 108 Conflict of Interest Policy The COI Policy applies to all directors, Key Senior Management, and Key Operating Management of the Group. It mandates the prompt disclosure of any conflict of interest, such as personal involvement in projects or contracts, to ensure transparency and accountability. This policy is aligned with our broader internal governance framework, promoting a culture of honesty, strong governance, and adherence to ethical standards across the organisation. Sponsorship, Donations and Political Contributions As an apolitical publicly listed company, we maintain neutrality in political matters while actively supporting Malaysian government initiatives that promote progress and innovation. This includes alignment with the MADANI economic framework and the National Energy Transition Roadmap, which aim to drive national objectives in economic growth, technological advancement and sustainable development. Proposals for donations or sponsorships related to social causes are required to be impartial, ensuring they do not influence business decisions or serve as a form of improper payment. All contributions must receive approval from two (2) Executive Directors, be thoroughly documented, comply with legal standards and transparent for public disclosure. Mergers and Acquisitions Policy Our Mergers and Acquisitions (“M&A”) Policy establishes clear protocols for engaging with potential investee companies, ensuring that partnerships are built on shared values and aligned objectives. The evaluation process encompasses compliance with applicable laws and regulations, alongside assessments of both financial and non-financial risks, including bribery, corruption and other financial offences. As part of the due diligence process, comprehensive ESG assessments are conducted to determine the sustainability maturity of prospective investments, alongside background checks, document verification, and evaluations of bribery-related risks. Additionally, contractual clauses may be incorporated to allow for termination if issues such as bribery or corruption are identified and not adequately remedied. Closure, Decommissioning and Divestment Plan Our Closure, Decommissioning and Divestment Plan guides the decommissioning of redundant facilities and infrastructure across operations where Press Metal holds a controlling interest. Our divestment policies, however, are not applicable for investments where management control or decision-making authority resides outside our purview, where we have no boundaries of influence. In line with our commitment to responsible business practices, the plan articulates guidelines for restoration of land to a usable condition. Likewise, the plan establishes protocols for engaging with government agencies and local communities, fostering transparent dialogue and mutual respect. These communication protocols are designed to keep the stakeholders informed and involved throughout the closure or decommissioning phases. Rotation of Audit Firm and Audit Partner To maintain independence and objectivity, we have implemented Statutory Auditors and Statutory Audit and Non-Audit Services Framework (“Statutory Auditor Framework”) which includes the following provisions: • Regular rotation of the lead audit partners and consideration of the necessity of a regular rotation of the audit firm; and • Audit Committee is responsible to assess the performance, suitability and independence of our external auditors. Additionally, we have established a requirement for the lead audit partner and quality control partner to rotate every seven (7) years and observe a cooling-off period of five (5) years, aligning with current professional standards set by the Malaysian Institute of Accountants.
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