Formation, Composition, and Structure

The Remuneration Committee is a subcommittee, appointed by and responsible to the Board of Directors and consists of two Independent Non-Executive Directors and a Non-Executive Director.

Name of member	Executive	Non–Executive	Independent
Mr Virann De Zoysa (Chairman)	–
Dr Samantha Ratnayake	–
Dr M T D Lakshan	–		–

Duties and Responsibilities

The Remuneration Committee reviews and recommends the policy on remuneration of the Executive Staff and the specific remuneration package for the Executive Directors while considering the following:

• Determining the compensation of the Chairman and the Board of Directors, while ensuring that no Director or any of their Associates are involved in determining their own remuneration or any other benefit(s).
• Establishing transparent procedures to determine remuneration for Executives and Directors. In this context, the Remuneration Committee took into account:

• (a) Competition;
• (b) Qualifications and experience;
• (c) Market information;
• (d) Business performance, and
• (e) Industry standards, in declaring the overall remuneration policy of the Group.

3. Approving remuneration levels for each designation of Senior Management.
4. Maintaining competitive and attractive remuneration packages for senior managers and ensuring that it is on a par with the industry levels.
5. Deciding performance based on remuneration, increments, incentive, and bonus with the regular evaluation of performance against targets.
6. Giving directions regarding statutory payments made by the Company on behalf of its employees.

The aggregate remuneration of the Executive and Non-Executive Directors for the year ended 31 March 2025 is shown in Note no. 38.1 of the Annual Report.

Challenges

In a highly competitive environment attracting and retaining high calibre executives is a key challenge faced by the Group.

Evaluation of the Effectiveness of the Committee

The Board reviews and updates the Committee charter annually. The minutes of meetings and other reports from the Remuneration Committee are submitted to the Board of Directors, and in addition, plans are initiated for the non-committee members to evaluate the Committee on an annual basis by way of a checklist.

The Remuneration Committee wishes to highlight that in this regard that the Company is in compliance with the provisions of the Listing Rules.

Mr Virann De Zoysa
Senior Independent Director,

04 September 2025