Sembcorp Industries Ltd

Sembcorp's Senior Leadership Council (SLC) and Enterprise Risk Committee (ERC) provide strategic direction for managing sustainability-related matters. The committees are chaired by our Group CEO and comprise senior executives who are accountable for the management of Sembcorp's material sustainability factors. The SLC convenes twice a month, where sustainability-related performance and updates are presented regularly. The ERC convenes quarterly, and climate-related risks are monitored as part of our ERC platform. The Group Sustainability division leads the integration of sustainability matters for the company and reports to the group chief financial officer. [...] Sembcorp's Climate Change Working Committee (CCWC) oversees the development of plans, processes and reports that address the Group's climate-related risks and opportunities. Key topics discussed in our CCWC meetings during the year included the assessment and prioritisation of our climate risk universe, our approach to and outputs from the climate scenario analysis, and the review of our TCFD Report 2024.

Sembcorp's SSC provides strategic direction for managing sustainability-related risks and opportunities. The committee is chaired by our Group President & CEO and comprises senior executives who are accountable for the management of Sembcorp's material sustainability factors. The Group Sustainability division leads the integration of sustainability matters for the company and reports to the group chief financial officer. [...] Sembcorp's Climate Change Working Committee (CCWC) oversees the development of plans, processes and reports that address the Group's climate-related risks and opportunities. Its role includes the review and development of policies and frameworks, assessment of risks and opportunities, setting of targets and implementation of relevant initiatives, as well as facilitation of reporting and disclosure of performance. This committee is chaired by the executive vice president, Office of the Group President & CEO and supported by Group Sustainability as secretariat. The committee meets at least twice a year and provides updates to our Enterprise Risk Committee (ERC), SSC as well as the board's RC. The ERC and RC each meet on a quarterly basis to review and enhance the effectiveness of the Group's IAF, including its risk management plans, systems, processes and procedures. The committee also regularly reviews group-wide risks including climate-related risks. The ERCC supports the inclusion of sustainability-linked KPIs and targets such as GHG emissions intensity and gross installed renewable energy capacity for key management personnel.

Sustainability Governance \n\n**GRI 2-9 | 2-12 | 2-13 | 2-14**\nSembcorp's Board of Directors oversees the business affairs of the Group. The board provides leadership on Sembcorp's overall strategy, which takes into consideration its material sustainability factors.\n\nThe following board committees provide oversight on sustainability and climate change matters:\n\n**• Executive Committee**\nProvides oversight and supervision of the Group's strategy and business affairs, including its Climate Action Plan\n\n**• Audit Committee (AC) and**\n**Risk Committee (RC)**\nEndorse the Group's policies, guidelines and systems to manage risks including climate-related risks. Report to the board on the adequacy and effectiveness of the Group's internal controls and risk management systems\n\n**• Executive Resource & Compensation Committee (ERCC)**\nSets remuneration framework, reviews and endorses key performance indicators (KPIs) of our key management personnel, including sustainability and climate-related indicators\n\nSembcorp's SLC and Enterprise Risk Committee (ERC) provide strategic direction for managing sustainability-related matters. The committees are chaired by our Group President & CEO and comprise senior executives who are accountable for the management of Sembcorp's material sustainability factors.\n\nThe SLC convenes twice a month. Sustainability-related performance and updates are presented to the SLC regularly. Climate-related risks are monitored as part of our ERC platform. The Group Sustainability division leads the integration of sustainability matters for the company and reports to the group chief financial officer.

Sembcorp's board of directors oversees the business affairs of the Group. The main duties of the board include providing leadership on Sembcorp's overall strategy, which takes into consideration our material sustainability issues. Sembcorp has a Sustainability Steering Committee (SSC) that provides strategic direction for managing sustainability-related risks and opportunities. The committee is chaired by our Group President & CEO, and comprises senior executives who are accountable for the management of Sembcorp's material sustainability issues. [...] Climate-related risks and opportunities are managed through our Climate Change Working Committee (CCWC). The CCWC is chaired by the executive vice president, Office of the Group President & CEO and supported by the Group Sustainability division. The CCWC reports to the Enterprise Risk Committee as well as the SSC, which in turn report to the board's Risk Committee. The achievement of our climate change targets is monitored and incentivised via the performance scorecards of our senior executives.

Sustainability Governance Sembcorp's board of directors oversees the business affairs of the Group. The main duties of the board include providing leadership on Sembcorp's overall strategy, which takes into consideration our material sustainability issues. Sembcorp has a Sustainability Steering Committee (SSC) that provides strategic direction for managing sustainability-related risks and opportunities. The committee is chaired by our Group President & CEO, and comprises senior executives who are accountable for the management of Sembcorp's material sustainability issues. [...] Climate-related risks and opportunities are managed through our Climate Change Working Committee (CCWC). The CCWC is chaired by the executive vice president, Office of the Group President & CEO and supported by the Group Sustainability division. The CCWC reports to the Enterprise Risk Committee as well as the SSC, which in turn report to the board's Risk Committee. The achievement of our climate change targets is monitored and incentivised via the performance scorecards of our senior executives.

**Process for Project Evaluation and Selection:**

## • Sembcorp has developed a Green Financing Framework that outlines the climate-related objectives of the proposed Green Bond, eligibility criteria for determining eligible projects and assets and the process for project selection and evaluation

## • The process for project evaluation and selection involves the Green Financing Committee which comprises the Group Chief Financial Officer (Chair), Head of Group Sustainability and Head of Group Treasury. The responsibility of the Green Financing Committee is to ensure compliance with the Green Financing Framework and approve updates to the Framework (where necessary).

Climate-related issues are managed through our Climate Change Working Committee (CCWC). The CCWC reports to the Sustainability Steering Committee (SSC), which in turn reports to the board's Risk Committee. The achievement of our climate change targets is monitored and incentivised via the performance scorecards of our senior executives.

Sembcorp's Board of Directors oversees the business affairs of the Group. The board provides leadership on Sembcorp's overall strategy, which takes into consideration its material sustainability factors. The following board committees provide oversight on sustainability and climate change matters: **• Executive Committee** Provides oversight and supervision of the Group's strategy and business affairs, including its Climate Action Plan **• Audit Committee (AC) and Risk Committee (RC)** Endorse the Group's policies, guidelines and systems to manage risks including climate-related risks. Report to the board on the adequacy and effectiveness of the Group's internal controls and risk management systems **• Executive Resource & Compensation Committee (ERCC)** Assists the board in reviewing the remuneration framework and endorses key performance indicators (KPIs) of our key management personnel, including sustainability and climate-related indicators [...] Sembcorp's Senior Leadership Council (SLC) and Enterprise Risk Committee (ERC) provide strategic direction for managing sustainability-related matters. The committees are chaired by our Group CEO and comprise senior executives who are accountable for the management of Sembcorp's material sustainability factors. The SLC convenes twice a month, where sustainability-related performance and updates are presented regularly. The ERC convenes quarterly, and climate-related risks are monitored as part of our ERC platform. The Group Sustainability division leads the integration of sustainability matters for the company and reports to the group chief financial officer.

Sembcorp's Board of Directors oversees the business affairs of the Group. The board provides leadership on Sembcorp's overall strategy, which takes into consideration its material sustainability factors. The following board committees provide oversight on sustainability and climate change matters: **• Executive Committee** Provides oversight and supervision of the Group's strategy and business affairs, including its Climate Action Plan **• Audit Committee (AC) and Risk Committee (RC)** Endorse the Group's policies, guidelines and systems to manage risks including climate-related risks. Report to the board on the adequacy and effectiveness of the Group's internal controls and risk management systems **• Executive Resource & Compensation Committee (ERCC)** Sets remuneration framework, reviews and endorses key performance indicators (KPIs) of our key management personnel, including sustainability and climate-related indicators [...] Sembcorp's SLC and Enterprise Risk Committee (ERC) provide strategic direction for managing sustainability-related matters. The committees are chaired by our Group President & CEO and comprise senior executives who are accountable for the management of Sembcorp's material sustainability factors. The SLC convenes twice a month. Sustainability-related performance and updates are presented to the SLC regularly. Climate-related risks are monitored as part of our ERC platform. The Group Sustainability division leads the integration of sustainability matters for the company and reports to the group chief financial officer.

Sustainability Governance\n\n**GRI 2-9 | 2-12 | 2-13 | 2-14**\nSembcorp's Board of Directors oversees the business affairs of the Group. The board provides leadership on Sembcorp's overall strategy, which takes into consideration its material sustainability factors.\n\nThe following board committees provide oversight on sustainability and climate change matters:\n\n**• Executive Committee**\n\nProvides oversight and supervision of the Group's strategy and business affairs, including its Climate Action Plan\n\n**Board of Directors**\n\n**• Audit Committee (AC) and**\n\n**Risk Committee (RC)**\nEndorse the Group's policies, guidelines and systems to manage risks including climate-related risks. Report to the board on the adequacy and effectiveness of the Group's internal controls and risk management systems\n\n**• Executive Resource &**\n\n**Compensation Committee (ERCC)**\nAssists the board in reviewing the remuneration framework and endorses key performance indicators (KPIs) of our key management personnel, including sustainability and climate-related indicators\n\n_For more information on the roles_\n_and responsibilities of the board,_\n_please refer to the Corporate_\n_Governance Statement on page 77._\n\nSembcorp's Senior Leadership Council (SLC) and Enterprise Risk Committee (ERC) provide strategic direction for managing sustainability-related matters. The committees are chaired by our Group CEO and comprise senior executives who are accountable for the management of Sembcorp's material sustainability factors.\n\nThe SLC convenes twice a month, where sustainability-related performance and updates are presented regularly. The ERC convenes quarterly, and climate-related risks are monitored as part of our ERC platform. The Group Sustainability division leads the integration of sustainability matters for the company and reports to the group chief financial officer.\n\n_For more information on our_\n_governance of climate-related matters,_\n_please refer to the Decarbonisation_\n_section on page 44._\n\nSustainability-linked Performance Incentives\nESG KPIs are a part of the annual performance scorecard of our senior executives. These include health and safety indicators, as well as environmental indicators such as GHG emissions intensity and gross installed renewable energy capacity.\n\n_For more information on our_\n_performance against targets, please refer_\n_to the 2024 Performance on page 41._