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Corporate Governance Statement

Pursuant to Capital Market Rules 5.94 and 5.97 issued by the Malta Financial Services Authority Simonds Farsons Cisk p.l.c (“SFC”) sets out the measures taken to ensure compliance with The Code of Principles of Good Corporate Governance (the “Code”) contained in Appendix 5.1 to Chapter 5 of the said rules.

SFC acknowledges that the Code does not prescribe mandatory rules but recommends principles so as to provide proper incentives for the Board of Directors (the Board) and SFC’s management to pursue objectives that are in the interest of the Company and its shareholders. Since its establishment, SFC has always adhered to generally accepted standards of good corporate governance encompassing the requirements for transparency, proper accountability and the fair treatment of shareholders. The Board of Directors has therefore endorsed the Code of Principles and adopted it.