Ampol Ltd

We work closely with all levels of government to not only inform them of the objectives of our Future Energy and Decarbonisation Strategies, but to also explore partnership and knowledge sharing opportunities. This includes monitoring of policy developments, like the introduction of the safeguard mechanism, fuel emissions standards and mandatory climate disclosure regimes in both Australia and New Zealand and making policy submissions and engaging with government where relevant. Ampol continues to monitor climate-related policy and regulatory developments and assesses implications for the business, including incoming mandatory climate disclosure requirements for both Australia and New Zealand.

###### Sustainability governance

We believe adopting a high standard of corporate governance is essential to sustaining long-term performance and creating value. Each year we prepare a sustainability plan that supports the delivery of our yearly sustainability commitments made in our Annual Report, as well as our overarching 2025 targets[1] and 2030 goals that sit within our sustainability strategy. Within this plan, we outline the initiatives to be implemented throughout the year as well as the metrics required to help us measure successful performance.

Below is a summary of the governance structure that we have in place to support delivery.

###### Ampol Board Responsible for corporate governance policies and risk management, including those relevant to sustainability. Approves policies for publication on the Ampol website, key sustainability initiatives and disclosures. Approves Ampol's sustainability strategy.

Board Safety and Meets quarterly to oversee and monitor the effectiveness of Ampol's sustainability Sustainability strategy and annual sustainability plan, as well as sustainability reporting requirements Committee and the management of key social and environmental sustainability risks.

Board People and Assists the Board to fulfil its corporate governance responsibilities in relation to Culture Committee Ampol's remuneration framework, incentive plans, succession planning, cultural health and engagement as well as Diversity and Inclusion Policy and Strategy.

Ampol Leadership Team Approves the annual sustainability plan and monitors progress of the sustainability strategy on a quarterly basis.

Issue-specific management committees

Decarbonisation Project Chaired by the Group Chief Financial Officer and comprising a sub-set of the Review Board Ampol Leadership Team, this group provides oversight on Ampol's decarbonisation programs, including capital allocation, emissions forecasting, and delivery against public commitments.

Ampol Foundation The Committee is the primary decision-making body governing community Committee investment decisions and activities executed through the Ampol Foundation.

Diversity and Chaired by the executive sponsor for Diversity and Inclusion, the Executive General Inclusion Council Manager (EGM) Fuel Supply Chain. Meets quarterly to provide stewardship of our Diversity and Inclusion Strategy with senior leadership representatives from across the Group.

Wellbeing Council Provides oversight over our enterprise-wide approach to our wellbeing strategy and delivery of key priorities consisting of senior representation across the business, with executive sponsorship from the EGM, People and Culture.

Reconciliation Promotes the RAP and its efforts towards reconciliation. Instigates and influences Action Plan (RAP) the delivery of initiatives aligned with the RAP commitments through operational Working Group business activity.

Ampol will continue to be transparent, regularly reviewing our performance through strong oversight and governance to ensure we can deliver on our commitments. [...] Ampol will continue to work with local, state and federal governments to bring our unique perspective in advocating for policies that support an orderly transition to a net zero economy. [...] A comprehensive risk review is undertaken by management for climate-related risks on an annual basis and presented to the Safety and Sustainability Committee. This risk review assesses the effectiveness of controls put into place and proposes any risk treatment actions. Management sets annual Sustainability Plans, which include climate-related activities. Progress against these plans is reported to the Ampol Leadership Team and the Board's Safety and Sustainability Committee on a quarterly basis. [...] The Board has identified climate change as a material risk relevant to Ampol and have approved a climate risk description, appetite level and qualitative risk appetite statement. Quantitative risk thresholds are being prepared which will form the basis for risk reporting, escalation and response with regard to the Board's appetite for climate-related risk. [...] The Board has established four standing committees: Audit, Human Resources, Nomination and the Safety and Sustainability Committee. The committee with the highest level of direct responsibility for climate change is the Safety and Sustainability Committee, which operates under a formal charter and comprises four non-executive and independent directors. The Safety and Sustainability Committee meets four times a year and its remit includes overseeing and assessing the appropriateness of plans to mitigate sustainability risks including climate change. [...] At the management level, responsibility for the risk associated with climate change has been assigned to the Executive General Manager, Growth and Development. [...] The Ampol Leadership Team has established a Strategic Risk Committee to oversee the identification and management of potential financial risk exposures for the business, including those resulting from climate-related risk. Strategic Risk Committee focus areas include: − Overseeing identification, quantification and management of climate-related risks − Design, execution and integration of climate scenario analysis into strategic planning and capital − Further integration of climate-related risks into capital allocation, investment and business case frameworks − Monitoring and internal reporting of external climate change developments (regulatory, technological, market) relevant to Ampol − Supporting climate change disclosures, reporting and engagement with external stakeholders.

## Governance

Our Board considers climate change a material strategic issue, and its management forms part of the Ampol risk management framework. At the management level, responsibility for the risk associated with climate change for Ampol has been assigned to the Managing Director and CEO.

The Board's Safety and Sustainability Committee oversees Ampol's climate change approach and performance on a quarterly basis. In addition, the Committee undertakes a deeper review and analysis of our climate change approach and performance on an annual basis. The Committee will:

- Review reports from management on the risks and opportunities posed by climate change, together with considering the results of scenario analysis undertaken.

- Review and recommend to the Board the approval of climate change disclosures in our corporate reports.

- Monitor performance against objectives and targets set including emission reduction efforts.

- Review progress against commitments made in the Climate Change Position Statement.

The Ampol Leadership Team has established a Strategic Risk Committee to oversee the identification and management of potential financial risk exposures for the business including those resulting from climate-related risk.

The Board has established a link between Ampol executive remuneration and climate change, representing 10% of the short-term incentive scorecard for Senior Executives including the Managing Director and Chief Executive Officer and select direct reports.

Our Board considers climate change a material strategic issue, and its management forms part of the Ampol risk management framework. At the management level, responsibility for the risk associated with climate change for Ampol has been assigned to the Managing Director and CEO.

The Board's Safety and Sustainability Committee oversees Ampol's climate change approach and performance on a quarterly basis. In addition, the Committee undertakes a deeper review and analysis of our climate change approach and performance on an annual basis. The Committee will:

Review reports from management on the risks and opportunities posed by climate change, together with considering the results of scenario analysis undertaken.
Review and recommend to the Board the approval of climate change disclosures in our corporate reports.
Monitor performance against objectives and targets set, including emission reduction efforts.
Review progress against commitments made in the Climate Change Position Statement.

The Ampol Leadership Team oversees the identification and management of potential financial risk exposures for the business including those resulting from climate-related risk.

The Board has established a link between Ampol executive remuneration and climate change, representing 10% of the short-term incentive scorecard for Senior Executives including the Managing Director and Chief Executive Officer and select direct reports.

In our 2021 Sustainability Report we set annual public commitments to support the delivery of our Sustainability Strategy. We prepared a corresponding program of work to support the achievement of these commitments, with progress overseen by the Ampol Leadership Team and the Board's Safety and Sustainability Committee. [...] The governance structure we have in place to support the delivery of our Sustainability Strategy is summarised below. **Ampol Board** Responsible for corporate governance policies and risk management, including those relevant to sustainability. Approves policies for publication on the Ampol website, key sustainability initiatives and disclosures. Approves Ampol's Sustainability Strategy. **Board Safety and Sustainability Committee** Oversees and monitors the effectiveness of Ampol's Sustainability Strategy and annual Sustainability Plan, as well as sustainability reporting requirements and the management of key social and environmental sustainability risks. **Ampol Leadership Team** Approves the annual Sustainability Plan and monitors progress of the Sustainability Strategy on a quarterly basis. [...] Strategic Risk Committee Chaired by the CEO and comprising the Ampol Leadership Team, the Committee provides oversight of strategic risks including climate change. Climate-related focus areas for the Committee include risk management, integration into business systems and processes, disclosures and monitoring of external and emerging issues. [...] Decarbonisation Project Review Board Chaired by the Group CFO and comprising a sub-set of the Ampol Leadership Team, this group provides oversight on Ampol's decarbonisation programs, including capital allocation, emissions forecasting, and delivery against public commitments.