The board of Mast Energy Developments PLC (‘MED’ or the ‘Company’, the ‘Board’) aims to conform to its statutory responsibilities and industry good practice in relation to the corporate governance of MED and its current and/or future subsidiaries. The Board has adopted the latest version of the QCA Corporate Governance Code (2018, ‘QCA Code’) and endeavours to follow its 10 (ten) principles (‘the Principles’) with due regard to the stage of development of the Company. The Company also seeks guidance from its advisers on recommended best corporate governance practice for companies listed on the London Stock Exchange (‘LSE’).

In addition to my role as Interim Non-Executive Chairman of the Board, I am also the chairman of the Company’s Remuneration, Nominations & Governance Committee (the ‘RNGC’) and, as part of the governance remit, retain primary responsibility for the design, implementation, articulation, review and updates of the Company’s corporate governance policy. The RNGC meets, at minimum, once a year and makes recommendations to the Board to ensure the Company’s corporate governance policy remains aligned with the Principles as the Company grows.

Paul Venter

Interim Non-Executive Chairman