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Board Committee Overview

UBIDAC Board of Directors is the principal decision-making forum for the company. It has overall responsibility for leading and controlling the company and is accountable to shareholders for financial and operational performance. The Board approves strategy and monitors performance. Throughout 2020 the UBIDAC Board held nine scheduled meetings and thirty- nine out of course meetings.

UBIDAC Risk Committee provides oversight and advice to the Board in relation to current and potential future risk exposures of UBIDAC and future risk strategy, including determination of risk appetite and tolerance. Throughout 2020 UBIDAC Risk Committee held six scheduled and five out of course meetings.

UBIDAC Audit Committee assists the Board in discharging its responsibilities in relation to the disclosure of the financial affairs of UBIDAC. Throughout 2020 UBIDAC Audit committee held five scheduled meetings and six out of course meetings.

UBIDAC Performance and Remuneration Committee is responsible for the preparation of decisions regarding remuneration, including those which have implications for the risk, and risk management of UBIDAC, considering the long-term interests of shareholders, investors and other stakeholders in the institution and the public interest. Throughout 2020 UBIDAC Remuneration Committee held six scheduled and six out of course meetings.

UBIDAC Nominations and Governance Committee assists the Board in the formal selection and appointment of directors having regard to the overall balance of skills, knowledge, experience, and diversity on the Board. Throughout 2020 UBIDAC Nominations and Governance Committee held six scheduled and nine out of course meetings.

UBIDAC Related Party Lending Committee is responsible for the oversight and approval of lending to related parties as determined by the CBI Related Party Lending Code. Throughout 2020 UBIDAC Related Party Lending Committee held four scheduled meetings and one out of course meeting.

UBIDAC Executive Committee manages operational issues material to UBIDAC. The committee considers strategy, finance and budget, capital allocations, risk strategy and policy and risk management.