RECKON LIMITED — Governance Information 2016

Mar 30, 2016

Rules 4.7.3 and 4.10.31

Appendix 4G

Key to Disclosures Corporate Governance Council Principles and Recommendations

Introduced 01/07/14 Amended 02/11/15

Name of entity

Reckon Limited

14 003 348 730 31 December 2015

ABN / ARBN Financial year ended:

Our corporate governance statement2 for the above period above can be found at:3

X These pages of our annual report: 41-49

☐ This URL on our website:

The Corporate Governance Statement is accurate and up to date as at [insert effective date of statement] and has been approved by the board.

The annexure includes a key to where our corporate governance disclosures can be located.

Date: 31 March 2016

Name of Director or Secretary authorising lodgement: Myron Zlotnick

1 Under Listing Rule 4.7.3, an entity must lodge with ASX a completed Appendix 4G at the same time as it lodges its annual report with ASX.

Listing Rule 4.10.3 requires an entity that is included in the official list as an ASX Listing to include in its annual report either a corporate governance statement that meets the requirements of that rule or the URL of the page on its website where such a statement is located. The corporate governance statement must disclose the extent to which the entity has followed the recommendations set by the ASX Corporate Governance Council during the reporting period. If the entity has not followed a recommendation for any part of the reporting period, its corporate governance statement must separately identify that recommendation and the period during which it was not followed and state its reasons for not following the recommendation and what (if any) alternative governance practices it adopted in lieu of the recommendation during that period.

Under Listing Rule 4.7.4, if an entity chooses to include its corporate governance statement on its website rather than in its annual report, it must lodge a copy of the corporate governance statement with ASX at the same time as it lodges its annual report with ASX. The corporate governance statement must be current as at the effective date specified in that statement for the purposes of rule 4.10.3.

2 "Corporate governance statement" is defined in Listing Rule 19.12 to mean the statement referred to in Listing Rule 4.10.3 which discloses the extent to which an entity has followed the recommendations set by the ASX Corporate Governance Council during a particular reporting period.

3 Mark whichever option is correct and then complete the page number(s) of the annual report, or the URL of the web page, where the entity's corporate governance statement can be found. You can, if you wish, delete the option which is not applicable.

Throughout this form, where you are given two or more options to select, you can, if you wish, delete any option which is not applicable and just retain the option that is applicable. If you select an option that includes "OR" at the end of the selection and you delete the other options, you can also, if you wish, delete the "OR" at the end of the selection.

ANNEXURE – KEY TO CORPORATE GOVERNANCE DISCLOSURES

Corp	teGoCoil redationoravernanceunccommen	Wehavfollowdthedationinfullforthehole oftheeerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdthedationinfullfortheholeeerecommenw4ftheiod aboWehavdisclosd …operveee
CPRIN	SOOOSOGOIPLE1 –LAYLIDFUNDATINFRMANAEMENTANDV	SGERIHT
1.1	Alisted etityhoulddisclosnse:()heivelesd ribiliiesfiboad adttttsarespecroanesponsorndt;managemenan(b)thostterlydtotheboad adthose mas expressreservernedelegtedtot.amanagemen	thefactthat wfollowthis rdationeecommen:…XCoGoS(1ff ofin otetatemt4theurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aeradinforionbouheivelesd ribiliiesftttttanmaarespecroanesponso…boad ad m(includinghoslytttterourrnanagemene mas expressdheboad adhosdelegd)totttetotreserverneamanagemen:Xta//ww/a/cohttpkonboutusteg:w.rec.com.aurporaovernance.aspx	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceSORtatemten☐llyd eidhis rdaionterttyttweare an exnamanagenanecommenisherforlicablett aee nopp
1.2	Alisted etityhould:ns()fordertakeiate checksbeintingaunappropre appoapersonor,forforttingdto sityholderdidatelectionpuwarecurs acane,directordasa;an(b)ideityholdeith all mterialinfortioninitsprovsecurrs wamaionlevtto adecisionhethertto electpossessreanonwornolect adirectororre-e	thefactthat wfollowthis rdationeecommen:…XCoGoS(ff ofin otetatemt41theurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceSORtatemten☐terllyd etitydthis rdationweare an exnamanagenanecommenisherforlicablett aee nopp
1.3	Alisd eihouldhaviih ehdirectettyttent wttornse awragreemenacd sioriveinghefheir aintttttterttmet.anenexecuseoumsoppon	hefachafollowhis rdaiontttt wtteecommen:…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpage201)OAnlRet5Rnuapor☐[inslocion]tttaera	☐lantionhythatis sin oCoteGoanexpaourrporavernancewStatemtORen☐terllyd etitydthis rdationweare an enamanagenanecommenxistherfort alicableee nopp
1.4	Thetarf alisted etityhouldbetablecompanysecreonsaccounydirectlytotheboad,throhthehair,ll mttertodoiththerugconaaswfuntioningftheboad.propercor	thefactthat wfollowthis rdationeecommen:…Xin oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	☐lantionhythatis sin oCoteGoanexpawourrporavernanceSORtatemten☐terllyd etitydthis rdationweare an exnamanagenanecommenistherfort alicableee nopp

If you have followed all of the Council's recommendations in full for the whole of the period above, you can, if you wish, delete this column from the form and re-format it.

CoteGoCoil redationrporavernanceunccommen		Wehavfollowdthedationinfullforthehole oftheeerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdthedationinfullfortheholeeerecommenw4ftheiod aboWehavdisclosd …operveee
1.5	Alisted etityhould:ns()forhavdiveitylicyhichincludesiremtstheae arspowrequenfboad olevt coitteetheboadto strr areanmmoreble objtiveforhievingdediveitydtomeasuraecsacgenrrsanllyboththebjtivedthetity's passessannuaoecs anenrogressin ahievingthemc;(b)discloshalicyfidtt pt;eoora summaryoan()f edisclostthed oh rtingiodthece as aenaceporperforble objtivehievingdediveitytbymeasuraecsacgenrrsseftheboad olevt coitteetheboadin adanrr areanmmorccorceiththetity'sdiveitylicydits ptowdswenrspoanrogressarhievingthemd eitheracan:(1)thetivetionf md wtherespecpropors oenanomenonboad,in siortiveitiond atherenexecuposs ancrosshole oisation(includinghowthetityhasdefinedwrganen"seiortive"forthes)nexecue purposes;or()f2ithetityis a"relevt eloy" udertheWokplacenanmpernreGederEqlityAct,thetity's mt ret"GedenuaenoscennrEqlityIndicator",definedin ad pblished udeuasasnnruthatAct.	thefactthat whavdiveitylicythat coliesithee arspompw…h()paragrapa:Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRe201)ORt5nuapor☐t[instloction]aerad af odiveilicyfityt:ancopyourrspoora summaryo…Xta//ww/a/cohttpkonboutusteg:w.rec.com.aurporaovernance.aspxdtheble objtiveforhievingderdiveitytbyanmeasuraecsacgenrsse…heboad olevifheboadin adanih ott cotteettrr areanmmorccorcewurdiveilicyd odshievinghemtytowtrspoanurprogressarac:Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRe201)ORt5nuapor☐t[instloction]aeradheinforionferdin phs()(1)(2)tttoanmarerearagrapcor:…☐in oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRe2015)ORtnuaporXthttp//wwkon/aboutus/wgaw.rec.com.aea.asp:ux	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceSORtatemten☐llyd eidhis rdaionterttyttweare an exnamanagenanecommenisherforlicablett aee nopp
1.6	Alisted etityhould:ns()havddisclosforiodicallyluainghettae ane aprocessperevaforfheboad,iidindividualtts ctteepermanceoromms andirecdtors;an(b)disclosin rlationto eh rtingiod, whethere,eaceporperaforluationdetakeninthetingpermanceevawas unrreporiodin adaniththat pperccorcerocessw	theluationferdtoin ph()evaprocessrerearagrapa:…☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuaporXReionRein201AnlRettt5tamunerapornuapordheinforionferdin ph(b)tttoanmarerearagrap:…☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuaporXtRetionRetin2015AnlRet(16 –amunerapornuaporpagepage38 oftheAnlRet2015)nuapor	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceSORtatemten☐llyd eidhis rdaionterttyttweare an exnamanagenanecommenistherfort alicableee nopp

Corp	teGoCoil redationoravernanceunccommen	Wehavfollowdthedationinfullforthehole oftheeerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdthedationinfullfortheholeeerecommenw4ftheiod aboWehavdisclosd …operveee
1.7	Alisd eihould:tettyns()havddisclosforiodicallyluatingtheae ane aprocessperevaforfits siortivedpermanceoenexecus;an()bdisclosin rlationto eh rtingiod, whethere,eaceporperaforluationdetakeninthetingpermanceevawas unrreporiodin adaniththat pperccorcewrocess	heluaionferdin ph()tttoevaprocessrerearagrapa:…☐CoGoS(1ff ofin otetatemt4theurrporavernanceenpageAnlRe201)ORt5nuaporXtRetionRetin2015AnlRet(16 –amunerapornuaporpagepage38 ofheAnlRe201)tt5nuapordtheinfortionferdtoin ph(b)anmarerearagrap:…☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuaporXReionRein2015AnlRe(16 –ttttamunerapornuaporpagepage38 oftheAnlRet2015)nuapor	☐lantionhythatis sin oCoteGoanexpaourrporavernancewStatemtORen☐terllyd etitydthis rdationweare an enamanagenanecommenxistherfort alicableee nopp

CoGoCoil redaiontetrporavernanceunccommen		Wehavfollowdhedaioninfullforhehole ofhetttteerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdhedaioninfullforheholettteerecommenw4ftheiod aboWehavdisclosd …operveee
CPRINIP	SCOOLE2 -TRUTURETHEBARDTADDVALUE
2.1	Theboad of alisted etityhould:rns()havinationitteehich:ae anomcommw(1)hastleatthreberjityf whomase mems,a maoroareindepdetdirectordenns;an(2)is chairedbyindepdendirecttoranen,ddisclosane:(3)heharfheitterttteecocomm;()f4thebertheitteedmems ocomman;(5)tthed of eh retingiod,theberfasaenacporpernumotimetheitteetthrohouttheiod adscommmeugpernheindividual adafheberhostttentttnces omems aeingtmees;or(b)ifitdoethavinationitteedisclosthats noe anomcomme,fact adtheit eloyto addreboadnprocessesmpsssrionissdto ethattheboadhasthesuccessuesannsureriatebalanf skills,knoledgienapproprceowe,experce,indepdeddiveityto ebleittodischaritsennceanrsnagedutiesd ribilitiesffectively.anesponse	[Ifthetityliesith ph()]encompwaragrapa:facthetthat whavinationitteethat coliesithee anomcommmpw…()()hs1d2paragrapan:☐in oCoGoS(41ff ofhetetatemtturrporavernanceenpage201)OAnlRet5Rnuapor☐[instloction]taerad aftheharterftheitteeancopococommy:…☐t[instloction]aeradtheinfortionferdtoin phs(4)d(5)anmarerearagrapan:…☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera[Ifheiliesih ph(b)]tttytencompwaragrap:facthetthat wdothavinationitteedtheenoe anomcomman…loyto addreboad sionissdtoprocessesweempssruccessuesanthattheboadhastheiatebalanf skills,ensurerapproprceoknoledgienindededdiveityto ebleittoe,experce,pennceanrsnawdischaritsdutiesd ribilitiesffectivelygeanesponse:Xin oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	Xlanionhyhais sin oCoGotttteanexpawourrporavernanceStatemtenOnlyih reRedaion2.1()tttotwspeccommenaOR☐terllyd etitydthis rdationweare an enamanagenanecommenxistherfort alicableee nopp
2.2	Alisted etityhouldhavddisclosboad skills mtrixnse ane arattingttheix of skills addiveitythattheboad ctlyseoumnrsrurrenhasislookingto ahievinits mberhip.orceems	boad skills mtrix:ourra…☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuaporXtahttp//wwkon/aboutus/coteg:w.rec.com.aurporaovernance.aspx	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceSOtatemtRen☐llyd eidhis rdaionterttyttweare an exnamanagenanecommenisherforlicablett aee nopp

Corpora	GoCoil redaiontetvernanceunccommen	Wehavfollowdhedaioninfullforhehole ofhetttteerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdhedaioninfullforheholettteerecommenw4fheiod aboWehavdisclosd …toperveee
2.3	Alisted etityhoulddisclosnse:()hefhedireciderdbyheboadbetttorttoanamesos conserindepdedirecttorenns;(b)if adirectorhasintert,itioniationanesposassocor,lationhipfthetydesibedinBo2.3buttheboadresopecrrxis oftheinionthatitdoet coisetheops nompromindepdefthedirectortheturftheintert,ennceonae oes,itioniationlationhipin qtiond aposassocorresuesann,lantionf whytheboadis ofthat oiniondexpaorpan;()helenh of seicef eahdirectttorcgrvoc	fthethedirectoridedbytheboadtobenamesos consrer…indepdetdirectorenns:Xin oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aerad, wherlicable,theinfortionferdtoin ph(b)ane appmarerearagrap:…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aeradhelenh of seicef ehdirectttorangrvoac:…☐in oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRe201)ORt5nuaporXthttp//wwkon/aboutus/ouboad.aaw.rec.com.arrsp:ux	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemten
2.4	A mjityftheboad of alisted etityhouldbeindepdentaorornsendirectors.	thefactthat wfollowthis rdationeecommen:…XCoGoS(1ff ofin otetatemt4theurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	☐lantionhythatis sin oCoteGoanexpawourrporavernanceSORtatemten☐terllyd etitydthis rdationweare an exnamanagenanecommenistherfort alicableee nopp
2.5	Thehair ofheboad of alisd eihouldbeindedettettytcrnsanpenndirecd,in picular,hould nbehehetorttttanarsosame personasCEO ofheittty.en	hefachafollowhis rdaiontttt wtteecommen:…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRe201)ORt5nuapor☐[instloction]taera	☐lantionhythatis sin oCoteGoanexpaourrporavernancewStatemtORen☐terllyd etitydthis rdationweare an exnamanagenanecommenisherforlicablett aee nopp
2.6	forAlisted etityhouldhavinductingdirectornse aprogramnewsfesd pideiateionldevlopt otunitiesanrovapproprprosaemenpporfordirectortodevlopd mintainthekills adknoledgseanasnewdedtofortheir rle adirectorffectively.neepermoss e	facfothetthat wllowthis rdationeecommen:…☐in oCoGoS(41ff ofhetetatemtturrporavernanceenpage)OAnlRet2015Rnuapor☐[inslocion]tttaera	Xlantionhythatis sin oCoteGoanexpaourrporavernancewSORtatemten☐terllyd etitydthis rdationweare an exnamanagenanecommenisherforlicablett aee nopp

CoGoCoteil redationrporavernanceunccommen		fofuforfWehavllowdthedationinllthehole otheeerecommenwiod aboWehavdisclosd …perveee	OfofuforWehavNTllowdthedationinlltheholeeerecommenw4fheiod aboWehavdisclosd …toperveee
PRINCIPLE3 –ACTETHICALLYANDRESPONSIBLY
3.1	Alisd eihould:tettyns()havdef coductforitsdirectoriortiveae acoons,senexecusd eloydanmpeesan;(b)discloshadefitt cot.eora summaryo	def coducfit ot:ourcoonr asummaryo…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpage201)OAnlRet5Rnuapor☐h//wwkon/abou/cotttptustega:w.rec.com.aurporaovernance.aspx	☐lantionhythatis sin oCoteGoanexpaourrporavernancewStatemten

CoteGoCoil redationrporavernanceunccommen		Wehavfollowdthedationinfullforthehole oftheeerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdthedationinfullfortheholeeerecommenw4ftheiod aboWehavdisclosd …operveee
PRINCIP	E4 –SAFEGUARDINTEGRITYINCORPORATEREPORTINGL
4.1	Theboad of alisted etityhould:rns()havdiihich:t cotteeae an aummw(1)hastleatthreberll of whomase mems,aare nontivedirectord ajityf whomexecus anmaoroareindepdetdirectordenns;an(2)is chairedbyindepdendirechois nhettorttanen, wohair ofheboad,tcrddisclosane:(3)heharfheitterttteecocomm;()ff4thelevt qliicationd eienthereanuas anxperceofbertheitteedmems ocomm;an(5)in rlationto eh retingiod,theberfeacporpernumoimeheihrohouheiod adtttteettttscommmeugpernheindividual adafheberhostttentttnces omems aeingtmees;or(b)ifitdoethavdit coitteedisclosthatfacts noe an ammeu,dtheit eloythatindedentlyifydanprocessesmpspenveranfegdtheintegityfits ctetingincludingsauarroorporarepor,thefortheintmet ad rl oftheprocessesapponnemovaterl auditordthetationfthedit etexnaanrooaungagementneparr.	[Ifthetityliesith ph()]encompwaragrapa:hefachahavdiihaliesihtttt wt cotteett cotee an aummmpw…hs(1)d(2)paragrapan:Xin oCoteGoStatemt(41ff oftheurrporavernanceenpage)OAnlRet2015Rnuapor☐[inslocion]tttaerad aftheharterftheitteeancopococommy:…Xtahttp//wwkon/aboutus/coteg:w.rec.com.aurporaovernance.aspxdheinforionferdin phs(4)d()ttto5anmarerearagrapan:…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRe201)ORt5nuaporXtAnlRet2015(39 oftheAnlRet2015)anuaporpagenuapor[Ifthetityliesith ph(b)]encompwaragrap:hefachadohavdiidhetttt wtt cotteetenoe an aummanprocesses…loyhaindepdenlyifyd sfegdheinif otttttegtyweempenveranauarrouringincludingheforheindtettttmet acorporareporprocessesapponn,l ofhel audidheionfhedittertorttatttremovaexnaanrooaut ptneengagemenarr:☐in oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRe201)ORt5nuapor☐t[instloction]aera	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceStatemten
4.2	f aforTheboad olisted etityhould,beit athetity'srnsepprovesenfforffroCOinaial statemtsinaial piod,iveitsEncenancerrecemCO afdFdeclarationthat,intheir oiniontheinaial redsanpnccor,ffthetityhavbeelyintained adthattheinaialoenen propermannctatemts clyiththeiate atingtandardssenompwapproprccounsfaffd givetrudir viewtheinaial pitiondanae anoncosanforfthetitydthattheinionhasbeefordpermanceoenanopnmethebasis of ad stemf risk mt adinterlonsounysoanagemennnatrol whichis otingffectively.conperae	facfothetthat wllowthis rdationeecommen:…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpage)OAnlRet2015Rnuapor☐t[instloction]aera	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemten

CoGoCoil redaiontetrporavernanceunccommen		Wehavfollowdhedaioninfullforhehole ofhetttteerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdhedaioninfullforheholettteerecommenw4ftheiod aboWehavdisclosd …operveee
4.3	GAlisted etitythathasAM should ethatits eterlnannsurexnaditorttendsitsAGM adis ailableto ationauanvanswerquessfroityholderlevttothedit.m securs reanau	facfothetthat wllowthis rdationeecommen:…☐CoGoS(ff ofin otetatemt41theurrporavernanceenpageAnlRe201)ORt5nuaporXtNoticefMetingaoe	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemtORen☐terllyd etitythatdoethold aweare an enamanagens nonxl gl mtingdthis rdationistherforannuaeneraeeanecommeneet alicablenopp
CPRINIP	CSCOSLE5 –MAKETIMELYANDBALANEDDILURE
5.1	Alisted etityhould:ns()havilicyforlyingihiinuttentts ctae awrpocompwonousdisclosbligiondeheLisingRulesdtttureoas unr;an(b)disclosthat plicyfit.eoora summaryo	tinudiscloslianlicyfit:ourconousurecompcepoora summaryo…☐CoGoS(ff ofin otetatemt41theAnlurrporavernanceenpagenua2015)ORXtahttp//wwkon/aboutus/cotegw.rec.com.arporaovernance.asp:ux	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceStatemtRen
PRINCIP	LE6 –RESPECTTHERIGHTSOFSECURITYHOLDERS
6.1	Alisted etityhould pideinfortionboutitself aditsnsrovmaantoinvtoriaits wbsite.governanceess ve	infortionbout usd obsite:maaanurgovernanceonour we…Xh//wwkon/abou/defaultttptust.asa:w.rec.com.aupx	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceStatemten
6.2	Alisd eihoulddesigdimpleminvlaiontettyt atortnsn anennesresfaciliffeciveicaionihtotate ettwottprogram-waycommunwinvtoress.	hefachafollowhis rdaiontttt wtteecommen:…Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRe201)ORt5nuapor☐[instloction]taera	☐CoGolantionhythatis sin oteanexpawourrporavernanceStatemten
6.3	Alisted etityhoulddisclostheliciesd pithasinnsepoanrocessesfacflactoilitate ad eticiptiont mtingpenncourage paraaees oityholdersecurs.	forfacliciesd pilitatingd eingour poanrocessesanncourag…f seticiptiont mtingityholderparaaees ocurs:Xin oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemtORen☐terllyd etitythatdoetholdweare an enamanagens noxiodic mtingf seityholdedthis rdationperees ocurrs anecommenistherfort alicableee nopp
6.4	Alisted etityhould giveityholderthetiontoivenssecursopreceicationfrod sd cicationto,thetitycommunsm,anenommunsendits sityistrylectroically.anecurregen	thefactthat wfollowthis rdationeecommen:…XCoGoS(1ff ofin otetatemt4theurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceStatemten

CoteGoCoil redationrporavernanceunccommen		Wehavfollowdthedationinfullforthehole oftheeerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdthedationinfullfortheholeeerecommenw4ftheiod aboWehavdisclosd …operveee
PRINCIP	LERECOGNISEANDMANAGERISK7 –
7.1	Theboad of alisted etityhould:rns()haviiisk,h oftteetteeto oae acommorcommsverseereachich:w(1)hastleatthreberjityf whomase mems,a maoroareindepdetdirectordenns;an(2)is chairedbyindepdendirecttoranen,ddisclosane:(3)theharterftheitteecocomm;()f4thebertheitteedmems ocomm;an(5)tthed of eh retingiod,theberfasaenacporpernumotimetheitteetthrohouttheiod adscommmeugperntheindividual attendafthebertthosnces omems aeingtmees;or()fbiitdoethavisk citteeitteethats noe arommorcommsfy()factisbovdisclosthatt adtheitsaaae,enprocessesforloyingthetity's risk mtempsoverseeenanagemenfrak.mewor	[Ifthetityliesith ph()]encompwaragrapa:hefachahaviiisktttt wtteetteeto oee acommorcommsverseer…halyih phs(1)d(2)tt cotmpwaragrapan:Xin oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRe201)ORt5nuapor☐[instloction]taerad aftheharterftheitteeancopococommy:…☐t[instloction]aeradtheinfortionferdtoin phs(4)d(5)anmarerearagrapan:…☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera[Ifheiliesih ph(b)]tttytencompwaragrap:facthetthat wdothavisk citteeitteethatenoe arommorcomms…fy()fortisdtheloyingisksaaanprocessesweempoverseeour rfratk:managemenmeworXin oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	Xlantionhythatis sin oCoteGoanexpawourrporavernanceStatemtenOnlyith rttodation7.1()wespecrecommena
7.2	Theboad oitteeftheboad should:rr acommor()iewhei's risk mfrak aleatttytttarevenanagemenmeworsllyisfyilfhaiinubed;dto sttsettt cottoannuaanessounan(b)disclosin rlationto eh rtingiod, whetherhe,eaceporpersuciewhastakenlaca revpe.	thefactthatboad oitteeftheboad riewthetity'srr acommorevsen…isk mtfrak atleat allyto stisfyitselfthatitranagemenmeworsnnuaatinutobed:conessoun☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aeradhah aiewhaskenlacinheingiodtt sutattancrevpereporper…dbyhisApdix4G:tcoverepen☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuapor☐t[instloction]aera	Xlantionhythatis sin oCoteGoanexpawourrporavernanceStatemten

CoteGoCoil redationrporavernanceunccommen		Wehavfollowdthedationinfullforthehole oftheeerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdthedationinfullfortheholeeerecommenw4ftheiod aboWehavdisclosd …operveee
37.	Alisd eihoulddisclostettynse:()ifithasinterl auditfuntionhowthefuntionisaannacc,truturd ad what roleit pforscenerms;or	[Ifheiliesih ph()]tttytencompwaragrapa:howinterl auditfuntionis struturd ad what roleitournaccen…forperms:	Xlanionhyhais sin oCoGotttteanexpawourrporavernanceStatemten
	(b)ifidoehavinl audifunionhafacdttterttttt as noe annacn,heiloyforluaingd cinullytt ettprocessesmpsevaanonaimpingheffecivefiisk mdttts rt aroveness oanaemenn	☐in oCoteGoStatemt(41ff oftheurrporavernanceenpageAnlRet2015)ORnuapor	Onlyih rdaion3()tttot7.especrecommenaw
	ginl col ptertronanrocesses.	☐t[instloction]aera
		[Ifthetityliesith ph(b)]encomparagrapw:
		facfunthetthat wdothavinterl audittiondtheenoe annacan…forloyluatingd ctinullyimpingtheprocessesweempevaanonarovffecf otiveisk mt adinterl cotrol peness ourranagemennnanrocesses:
		Xin oCoteGoStatemt(41ff oftheurrporavernanceenpage)OAnlRet2015Rnuapor
		☐[inslocion]tttaera
7.4	Alisted etityhoulddiscloshetherithasterialnse wanymato eic,irontal and sial sutainabilityexposureconomenvmenocsisksd,ifitdoehowit mintendstothosrans,anagesormanagee	hetherhavterial exto eic,wwee anymaposureconom…irontal and sial sutainabilityisksd,if wdohowenvmenocsranewe,intendtothosisks:manage ormanagee r	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceStatemten
	isks.r	Xin oCoGoS(41ff ofheAnltetatemtturrporavernanceenpagenua2015)OR	R
		XtAnlRet2015anuapor

CoGoCoteil redationrporavernanceunccommen		fofuforfWehavllowdthedationinllthehole otheeerecommenwiod aboWehavdisclosd …perveee	OfofuforWehavNTllowdthedationinlltheholeeerecommenw4fheiod aboWehavdisclosd …toperveee
PRINCIP	LE8 –REMUNERATEFAIRLYANDRESPONSIBLY
8.1	Theboad of alisd eihould:tettyrns()havtionitteehich:ae aremuneracommw(1)hasleahreberjif whomttttyase mems,a maoroareindepdedirecdttorenns;an(2)is chairedbyindepdentdirectoranen,ddisclosane:()f3thehartertheitteecocomm;(4)theberftheitteedmems ocomm;an()hed of eh reingiod,heberf5ttttasaenacporpernumoimeheihrohouheiod adtttteettttscommmeugpernftheindividual attendathebertthosnces omems aetingmees;or(b)ifidoehavionidiscloshattttteetts noe aremuneracomme,facdheiloyforinghelevl andt att etttnprocessesmpsseeiionf reionfordirecd siortttorcomposomuneras anenived einghah rionisttt sutexecus annsurcemuneraiad nivete at exapproprnocess	[Ifheiliesih ph()]tttytencompwaragrapa:thefactthat whavtionitteethat coliesithee aremuneracommmpw…hs(1)d(2)paragrapan:Xin oCoGoS(41ff ofhetetatemtturrporavernanceenpageAnlRet2015)dintheRetionRet(16nuaporanmuneraporpageftheAnlRet2015)ORonuapor☐t[instloction]aerad afheharfheitterttteeancopyococomm:…Xtah//wwkon/abou/cottptusteg:w.rec.com.aurporaovernance.aspxdtheinfortionferdtoin phs(4)d(5)anmarerearagrapan:…☐CoGoSOin otetatemtRurrporavernanceenXAnlRe2015ttanuapor[Ifheiliesih ph(b)]tttytencompwaragrap:facthetthat wdothavtionitteedtheenoe aremuneracomman…forfloyttingthelevl and citionprocessesweempseeomposofortiondirectord siortived eingthatremuneras anenexecus annsurh retionis aiate ad nt exivesucmunerapproprnocess:☐CoGoSOin otetatemtRurrporavernanceen☐[inslocion]tttaera	☐lantionhythatis sin oCoteGoanexpaourrporavernancewStatemtORen☐terllyd etitydthis rdationisweare an enamanagenanecommenxtherfort alicableee nopp
8.2	Alisted etityhould stelydisclosits pliciesdnseparaeoanticedingthetionf notivedirectorpracs regarremuneraon-execsudthetionf extivedirectord otherioranremuneraoecus ansentiveexecus.	telytionliciesd pticedingtheseparaourremunerapoanracs regar…tionf notivedirectordthetionfremuneraon-execs anremuneraoutivedirectord otheriortiveexecus ansenexecus:☐CoGoSOin otetatemtRurrporavernanceenXReionRe(16 ofheAnlRe2015)tttttamuneraporpagenuapor	☐lanionhyhais sin oCoGotttteanexpawourrporavernanceSORtatemten☐terllyd etitydthis rdationweare an exnamanagenanecommenistherfort alicableee nopp

CoGoCoil redaiontetrporavernanceunccommen		Wehavfollowdhedaioninfullforhehole ofhetttteerecommenwiod aboWehavdisclosd …perveee	WehavNOTfollowdhedaioninfullforheholettteerecommenw4ftheiod aboWehavdisclosd …operveee
8.3	Alisted etityhichhasity-basd rtionhemnwanequeemunerascehould:s()havlicyhehericipidttts attetoae apoonwparanreperminion(heherhrohheftertotrattttennsacswuguseoderivaiveherise)hichlimiheic risk oftttts or owweconomicipinginhehemdtttparasce;an(b)disclosthat plicyfit.eoora summaryo	flicythisissit:ourpoonueora summaryo…☐CoGoSOin otetatemtRurrporavernanceenXtRetionRet(16 oftheAnlRet2015)amuneraporpagenuapor	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemtORen☐dothavity-basd rtionhemdthisw enoe an eqeemunerasce anudationistherfort alicableORrecommenee nopp☐terllyd etitydthis rdationweare an enamanagenanecommenxistherfort alicableee nopp
ADDITIO	NADISCOSURESAPPICABETOEXTERNAYMANAGEDISTEDENTITIESLLLLLLL
-	AlterntivetoRedation1.1forterllydlistedacommenexnamanagetitiesen:Theible eif allydlisd eittytertettyresponsnon exnamanagenhoulddisclosse:()thetsbetwetheible etitydtheaarrangemenenresponsnanforffaflisted etityingtheirsthelisted etitynmanagaon;(b)thele ad ribilityftheboad oftheibleronesponsorresponstityforingthosts.enoverseee arrangemen	theinfortionferdtoin phs()d(b)marerearagrapaan:…☐CoGoSOin otetatemtRurrporavernanceen☐[inslocion]tttaera	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemten
-	AlterntivetoRedation8.1,8.2 ad8.3forterllyacommensnexnadlisted etitiesmanagen:Anllydlisd eihould clealydiscloshetertettytexnamanagensreingheionfhetertttmsgovernremuneraomanager.	theteringtionfthetitymsgovernour remuneraasmanageroen:…☐CoGoSOin otetatemtRurrporavernanceen☐[inslocion]tttaera	☐lantionhythatis sin oCoteGoanexpawourrporavernanceStatemten