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Corporate Governance Policy

5. Responsibilities of the Board
The Board of Directors has authority, duties and responsibilities to carry out the Company’s

business operation with morality and honesty by adhering to and complying with the Anti-corruption
Policy and avoiding any conflicts of interest in order to maintain the Company’s overall benefit

and not limited to any specific person or group of shareholders. The Board of Directors also has
authority and duties to supervise the Company in developing an appropriate management policy and
supervise the Company to have key policies such as compliance framework and compliance related

policies as well as integration of sustainability development guidelines with business strategies by
taking balance in terms of environmental aspect, social aspect and governance and economic aspect

into account. Moreover, the Board of Directors has duties and responsibilities in governing the
Company to have proper management process to conduct enterprise risk management, to develop
effective internal systems, and to oversee audit system to comply with policies, laws, rules,

regulations announced by the regulator. The Board of Directors is also required to establish the
Market Conduct Policy in order to ensure the Company's fair treatment of customers, by mainly
considering the customers’ benefits. Monitoring and assessment of product development, insurance

and mutual fund sales offering processes, customer service, life insurance benefit payment and delay
of life Insurance indemnification and fair management of complaints made by customers, include data
privacy must be conducted at least once a year or as required by the laws.

Corporate Secretariat Office Division I Muang Thai Life Assurance Public Company Limited 9