stakeholders, including shareholders. The Board comprises of at least 50% Independent Directors and the businesses are headed by professional CEOs/ Executive directors. To ensure the effectiveness of corporate governance and that all our operations are well-governed, the Board has established sub-committees that supervise various business functions. This enables the Board to remain updated on all developments in the Company, as the Committees provide in- depth scrutiny over all business aspects. All Committees conduct meetings with defined periodicity to ensure the smooth functions of the business functions they are responsible for. Committees to the Board have at least 50% members as Independent Directors. Following is the summary of the Committees: Name of the Committee Composition Meeting Frequency Audit Committee 100% Independent Directors Quarterly Nomination and Remuneration 75% Independent Directors At least twice in a Committee year Stakeholders’ Relationship Committee 50% Independent Directors Quarterly Corporate Social Responsibility 75% Independent Directors Half Yearly Committee Risk Management Committee 50% Independent Directors Quarterly Corporate Responsibility Committee 100% Independent Directors Quarterly Information Technology & Data >50% Independent Directors Half Yearly Security Committee (Sub-Committee to Risk Management Committee) Mergers & Acquisitions Committee >50% Independent Directors As and when (Sub-Committee to Risk Management applicable Committee) Legal, Regulatory & Tax Committee 100% Independent Directors Half Yearly (Sub-Committee to Risk Management Committee) Reputation Risk Committee (Sub- >50% Independent Directors Half Yearly Committee to Risk Management Committee) Detailed charters for the committees are available on the website of each of the Adani portfolio listed entities. Board diversity: Our Boards diversity harnesses differences in knowledge, skills, regional exposure, industry experience, cultural backgrounds, ages, ethnicity, races and gender. Adani businesses developed a Board Diversity Policy, which is available on their respective websites. Skills and experience: The Boards aggregate knowledge, perspective, professionalism, differentiated mindsets and experience. The Board members possess a rich understanding of different sectors, strategy, governance, risks, legal, technical, environmental, social, financial, 19