Our governance structures, leadership and processes ensure that our business is well-managed and controlled and supports our value creation process. We have an inclusive strategy review process that considers the risks and opportunities connected to the broader context in which we operate. Our sound corporate governance and ethics processes ensure that we deliver against our strategy to create long-term value for our stakeholders. To achieve sustained value, we need to establish and maintain trust with our stakeholders. Our structure enables the Board to retain effective control while delegating authority to relevant committees.

During the year, we had to re-align our operational plans and business model due to the unprecedented challenges of the COVID-19 pandemic to retain financial stability, business continuity and liquidity, risks and opportunities, and the short, medium and long term effects on our business. This included a stakeholder-inclusive approach to executing our governance role and responsibilities while remaining committed to the principles of King IV™ recommendations entrenched in our policies, internal controls, terms of reference and procedures and processes. Further information can be found on page 43 – Delivering on our strategy. For more information on how the Company has applied the principles of King IV™, refer to our report on www.aeei.co.za/about-us/corporategovernance/king-iv-on-corporate-governance-report/.