The Board of Savcor Group Limited has adopted Board Charter and Corporate Governance Statement, and each Director has undertaken to the Company to observe the requirements of this Statement.

The philosophy of the Board will be to adopt a best practice stance that is consistent with both the ASX Principles of Good Corporate Governance and Best Practice Recommendations and its own best interests.

It is the role of the Board to direct, manage, promote and administer the Company while protecting the interests of the Company and its stakeholders. The Board is also responsible for the overall corporate governance of the Company. In performing this role the Board is mindful of its obligations as set out in the Corporations Act and in general law.

The Board may establish committees to assist it in carrying out its function and for its effective and efficient performance and will adopt a charter for each committee established dealing with the scope of its responsibility and relevant administrative and procedural arrangements.

The Audit and Risk Committee and the Nomination and Remuneration Committee have been established by the Board.