b'REPORT OF THE SUPERVISORY BOARD Staatsolie is an important company forThe articles of association and the charter Suriname, which is moving towards an excitingof the Supervisory Board outline the future. The Supervisory Board providestasks, responsibilities, and authority of the maximum support to the Board of ExecutiveSupervisory Board. These documents outline Directors in this process.the positioning, authority, responsibilities, The Supervisory Board is accountable tocomposition, appointment procedures and report annually on its activities, based on theprocedures for resignation of the Supervisory governance code of Staatsolie. These activitiesBoard.are governed by the articles of association andThe Supervisory Board evaluates its own the governance code. performance annually and at least once The Supervisory Board is responsible for theevery three years under the supervision of an supervision of the functioning of the Boardexternal expert.of Executive Directors, its policies pursuedComposition of the Supervisory Boardand the financial and economic impact of theThe members of the Supervisory Board have company. In addition, the Supervisory Boarddiverse backgrounds and areas of expertise. acts as an advisor and sparring partner for theThe Supervisory Board consists of a minimum Board of Executive Directors. Members for theof five members who are appointed for a Board of Executive Directors are nominated byperiod of four years. Appointments are subject the Supervisory Board and appointed by theto the procedures laid down in the articles of General Meeting of Shareholders. association and the charter of theSupervisory Board.Supervisory Board Member Appointed in Expertise Board Committee RoleL. Brunswijk 2020 Aviation Technology ChairM. Santokhi- 2020 Legal Risk & Compliance,Vice ChairSeenacherry Nomination & RemunerationG. Asadang 2010 Economics Audit, Nomination &Board memberRemunerationJ.Bousaid 2020 Economics Audit Board memberN. Nannan 2020 Process- and EnergyRisk & Compliance SecretaryTechnologyD. Caff 2020 BusinessRisk & Compliance,Board memberAdministration Nomination & RemunerationH. Dorinnie 2020 Economics Audit, Remuneration Board member18 STAATSOLIE 2021 ANNUAL REPORT'