Page 25 - JTC-Annual Report-2025-Eng

3. Reviewed various amendments and updates to certain internal policies and procedures of the
Company.
4. Recommended to the Board of Directors the appointment and determination of the fees of
the Company’s external auditor.
5. Reviewed Internal Audit reports covering the Company’s various departments.

2. Risk Management Committee

Objective:

The Risk Management Committee aims to assist the Board of Directors in fulfilling its oversight
responsibilities with respect to the risk management and compliance framework, ensuring
the identification, assessment, and monitoring of risks that the Company may be exposed to,
and the establishment of appropriate controls to mitigate such risks and submit the necessary
recommendations to the Board of Directors.

Committee Formation Date and Term:

The Risk Management Committee was formed on 28 September 2022 for a term of three years
th
and was reformed on 22 October 2025 for three years, in line with the term of the Board of
nd
Directors. The Committee consists of non-executive members, including one independent
member.

Committee Members and Meetings During the Financial Year:

Members of the Committee Position No. of Meetings
Sheikh Sabah Mohammed Abdulaziz Committee Chairman
Al Sabah
4 meetings
Mr. Muhaiman Ali Behbehani Committee Member
Ms. Sara Tawfeeq AlNassar Committee Member (Independent)

Committee Responsibilities:

1. Preparing and reviewing risk management strategies and policies prior to their approval by
the Board of Directors and ensuring their suitability to the size and nature of the Company’s
activities.

2. Reviewing periodic reports submitted by the Risk Management function for the purpose of
monitoring risks and assessing the efficiency and effectiveness of systems and procedures for
risk monitoring and measurement.

3. Ensuring the availability of adequate resources and systems for risk management, assisting
the Board in determining the Company’s risk appetite, and ensuring that approved risk limits
are not exceeded.

4. Reviewing proposed transactions and dealings with related parties and submitting appropriate
recommendations to the Board of Directors.

3. Nominations and Remunerations Committee

Objective:

The Nomination and Remuneration Committee aims to assist the Board of Directors in applying
best governance practices relating to the nomination, appointment, and evaluation of Board
members and executive management, as well as in setting and reviewing remuneration and

24 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.