The Audit Committee is chaired by Mr. Nitin Khanna and its other board members are Mr. Fuad Al Ansari and Mr. Marcello Baricordi.

The primary function of the Audit Committee is to review and monitor the integrity of the Company’s interim and annual financial statements. In this context, its responsibilities include ensuring the independence and effectiveness of the external audit function by reviewing the scope and quality of work carried out by both internal and external audit and being involved in the appointment of external auditors and in overseeing the relationship with them. The Audit Committee also provides independent oversight to the Board in relation to the Company’s governance, risk management and internal control practices, including a review of related party transactions to ensure they have been conducted on an arm’s length basis.

The Audit Committee charter requires that the Audit Committee must comprise at least three members who are Non-Executive Directors of whom at least two of its members must be independent. In addition, at least one member is required to have practical audit and accounting experience. The Audit Committee will be chaired by one of the independent members and will include other members elected by the Board members from time to time.

The Audit Committee will meet not less than four times per year. The Audit Committee will take appropriate steps to ensure that the Company’s external auditors are independent of the Company as required by applicable law. The Company has obtained written confirmation from its auditors that they comply with guidelines on independence issued by the relevant accountancy and auditing bodies.