Relations Between Board of Commissioners and Board of Directors

The Board of Commissioners and the Board of Directors have different duties and functions, whereby the Board of Commissioners has the duty and function of supervising and advising the Board of Directors, while the Board of Directors has the duty and function of managing the Company.

Informal relationships may be established between individual members of the Board of Directors and the Board of Commissioners, but these have no legal force until they are decided through a valid mechanism per the laws and regulations and the Articles of Association. In certain strategic matters relating to assets, loans, equity, organizational structure, and the appointment of directors and commissioners of Subsidiaries, the Board of Directors requires the formal approval of the Board of Commissioners. All procedures, work guidelines, and relationships between the Board of Directors and the Board of Commissioners are stipulated in the Board Manual.

These guidelines are binding on all members of the Board of Directors and Board of Commissioners and include, among other things, the responsibilities, obligations, authorities, rights, and ethics of the Board of Directors and Board of Commissioners, as well as regulations on meetings and procedures for working relationships between the Board of Directors and the Board of Commissioners.

Disclosure of Affiliated Relationship

There are no familial relations up to the third degree between members of the Board of Commissioners and between members of the Board of Commissioners and members of the Board of Directors, either in a direct line or in a collateral line, or any other relationship. The family relationships of members of the Board of Commissioners with fellow members of the Board of Commissioners and/ or members of the Board of Directors and Major/Controlling Shareholders can be seen in the following table:

Table of Board of Directors and Board of Commissioners Financial and Familial Affiliations