Annual Report 2020

A management level risk committee (“ MRC ”) was established in 2019 to increase participation by senior management in risk management processes. The MRC is tasked to review the key risks of AAGB prior to submission to the RMC every quarter. Based on the performance evaluation of theRMC for the Financial Year, the Board is satisfied that the Chairman and members of the RMC have discharged their responsibilities effectively. The Statement on Risk Management and Internal Control is set out on pages 151 to 158 of the Annual Report 2020. 3. AAGB’sAnti-BriberyAndAnti-CorruptionPolicy (“ABACPolicy”) In carrying out its governance oversight, the Board has also emphasised the importance of embracing integrity and ethical values across the organisation. In this regard, the Board adopted and implemented the ABAC Policy, whichwas put in place across the Group since 1 June 2020. Principle C: Integrity in Corporate Reporting and Meaningful Relationship with Stakeholders 1. Effective Communication with Shareholders and Investors AAGB is committed to communicating openly, regularly and effectively with shareholders and investors through platforms such as the corporate section of its website, the Annual Report, Financial Announcements and Key Operating Statistics and Announcements throughBursaMalaysia and AGMs. The Investor Relations’ page of the website is updated regularly to provide stakeholders with all relevant information on AAGB to enable them to make informed decisions. AAGB has a dedicated Investor Relations teamwhich supports the senior management in their active participation in investor relation activities, including road shows, conferences and quarterly investor briefings with financial analysts, institutional investors and fund managers. AAGB continues to fulfil its disclosure obligations as per Bursa Malaysia’s Corporate Governance Guidelines. All disclosures of material corporate information are disseminated in an accurate, clear and timely manner via Bursa Malaysia announcements. 2. AGM Given the size and geographical diversity of the Group’s shareholders, the AGM is another important forumfor interaction with this group of stakeholders. All shareholders will be notified of the AGM and provided with a digital copy of the Annual Report at least 28 days before the meeting. In view of the COVID-19 pandemic, the Third AGM (“ 3rd AGM ”) of AAGBwas held fully virtually via live streaming and online remote voting at the Broadcast Venue held at RedQ, Jalan Pekeliling 5, Lapangan Terbang Antarabangsa Kuala Lumpur (klia2), 64000 KLIA, Selangor Darul Ehsan, Malaysia on 28 September 2020. All members of the Board were present at the Broadcast Venue to respond to questions posted by the shareholders or proxies via the remote participation and voting facilities (“ RPV ”). Although the voting process at the First and Second AGMs held in 2018 and 2019 respectively were conducted through an electronic poll voting system, the voting process for the 3rd AGM which was held fully virtual in 2020 was conducted by online remote voting via the RPV facilities, and the results of the votes were scrutinised by an independent scrutineer. AAGB will continue to leverage technology and tools to enhance the quality of its shareholder engagement and facilitate further participation by shareholders at AAGB’s AGMs. This CG Overview Statement was approved by the Board of Directors of AAGB on 18 May 2021. CorporateGovernanceOverviewStatement 146 AIRASIA GROUP BERHAD