Terms of Reference of Information Technology Strategy Committee

The terms of reference of the Committee is to review the strategy and initiatives in relation to the following matters and provide guidance to the management of the Company thereon:

1. approving IT strategy and policy documents and providing guidance to the management for putting an effective strategic planning process in place;
2. reviewing that management has implemented processes and practices that ensure that IT delivers value to the business;
3. reviewing that IT investments represent a balance of risks and benefits and that budgets are acceptable;
4. providing guidance to the management on IT resources needed to achieve strategic goals and providing high‐level direction for sourcing and use of IT resources;
5. ensuring proper balance of IT investments for sustaining business growth and becoming aware about exposure towards IT risks and controls; and
6. review the governance mechanism and risk management process for all IT outsourced operations.