Nomination Procedure of the Board of Commissioners and Board of Directors

Harum Energy has a nomination policy for the Board of Commissioners and Board of Directors with the aim of maintaining continuity in the regeneration or succession process of the company leadership, maintaining business sustainability and Harum Energy’s long-term goals. This policy is outlined in the Harum Energy’s Nomination and Remuneration Function Implementation Guidelines.

Harum Energy’s nomination and remuneration function is implemented by the Board of Commissioners and there is no separate committee formed for such nomination and remuneration function.

Procedure and Basis of Determination for Remuneration of Board of Commissioners and Board of Directors

The remuneration of the Board of Commissioners and Board of Directors is determined with reference to Harum Energy’s internal policies and in consideration of the performance assessment results, the Board of Commissioners’ study results, as well as Harum Energy’s financial condition. The remuneration of the Board of Commissioners is determined by the President Commissioner based on the GMS authority. On the other hand, the remuneration of the Board of Directors is determined at the discretion of the Board of Commissioners.