Performance Evaluations

GR Engineering Services Ltd ("COMPANY")

Process for Performance Evaluations

Board, Board committees and individual directors

The Chair evaluates the performance of the Board by way of an informal round-table discussion with all directors.

The Chair reviews the performance of the committees of the Board by way of an information roundtable discussion with all directors.

Individual director’s performance evaluations are completed by the Chair. The Chair meets with each individual director.

Chair

The Senior Independent Director is responsible for evaluating the performance of the Chair after having canvassed the views of the other directors.

Managing Director

The Managing Director’s performance evaluation is conducted by the Chair. The Chair conducts a performance evaluation of the Managing Director by way of meeting with the Managing Director and with an informal round-table discussion with all directors, and by reference to the Managing Director’s key performance indicators which are set by the Nomination and Remuneration Committee.

Senior executives

The Managing Director reviews the performance of the senior executives. The Managing Director conducts a performance evaluation of the senior executives by way of on-going information monitoring throughout each financial year and at an annual formal interview.

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