b'10. Quarterly meeting with the GovernanceRemuneration CommitteeRisk & Compliance Manager to discussThe Remuneration Committee is a committee ongoing risk management activities, asestablished to assist the Supervisory Board well as discussion of the implementationin the effective performance of its managerial status of risk-related items and any otherand independent supervisory responsibilities issues or concerns the committee or theregarding the following:Governance Risk & Compliance Manager deem appropriate. 1. Develop assessment procedures for the annual assessment of the Supervisory Regarding compliance, in more specific terms,Board, the Board of Executive Directors, and the roles and responsibilities are: the Supervisory Board committees.1.Assessing the effectiveness of the2.Ensure that the Supervisory Board and companys systems for monitoringthe Board of Executive Directors have the compliance with its legal/regulatoryappropriate structure, size and distribution obligations and the results of anyof skills and capabilities to manage the investigations into cases of non-compliance. companys strategic objectives and values.2.Assessing the effectiveness of employee3. Provide overview and improve transparency communication processes and compliancein the implementation of remuneration with the companys code of conduct. and nomination schemes for the Board of 3.Review the companys overall anti-fraudExecutive Directors.programs and controls with corporate4.Develop and monitor succession plans for management. the Supervisory Board and the Board of 4.Monitor and assess compliance with keyExecutive Directors.corporate governance policies (conflicts ofMeetingsinterest, whistleblower, etc.) and verify that appropriate supportive procedures are inThe Supervisory Board meets based on place for the receipt, retention, and handlinga predetermined meeting schedule and of confidential submissions. furthermore as often as deemed necessary. The Supervisory Board also meets regularly 5.Receive quarterly updates from the Integritywith the Board of Executive Directors. Committee on all areas of non-compliance with the Code of Conduct and the results ofIn 2021, the Supervisory Board held 32 regular ongoing investigations or follow-up actionsmeetings of which nine meetings were with the (including disciplinary action) related toBoard of Executive Directors.violations of the Companys Code of ConductDue to the Covid-19 pandemic, the Supervisory by employees. Board was only able to complete two of the five planned on-site visits to Staatsolie company locations in 2021.20 STAATSOLIE 2021 ANNUAL REPORT'