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Corporate Governance Statement

Snowy Hydro is committed to achieving best practice corporate governance. Snowy Hydro’s corporate governance framework and practices have been developed with regard to the provisions of the Corporations Act, the PGPA Act and the GBE Guidelines. Our framework is also guided by the ASX Corporate Governance Council’s “Principles and Recommendations - 4th Edition”.

The Board of Snowy Hydro is responsible for the corporate governance of Snowy Hydro and its controlled entities (Snowy Hydro Group), including the adoption of appropriate policies and procedures to ensure the Snowy Hydro Group is managed and controlled to protect and enhance Shareholder value.

The Board monitors the operational and financial position of Snowy Hydro and agrees its business strategy, including considering and approving a strategic corporate plan and annual budget. The Board is committed to maximising performance, generating Shareholder value, and sustaining the growth and success of Snowy Hydro. The Board maintains, and requires that Snowy Hydro management maintain, the highest level of corporate ethics.

Snowy Hydro is led by an independent, highly experienced, skills-based Board supported by dedicated Board Committees who assist the Board in discharging their governance responsibilities. Snowy Hydro’s corporate governance framework is outlined in the diagram below. Our corporate governance documentation, including this statement and the charters referenced therein, are available on our website at: https://www.snowyhydro.com.au/our-business/who-we-are/corporate-governance/.

This corporate governance statement was approved by the Board on 28 August 2019.