Cadent Overview

Corporate Governance at Cadent The Board's philosophy is to uphold the highest standards of corporate governance appropriate to our size, the essential public service we provide and the regulatory framework that applies to us Board Composition 17 Directors • • Non-exec Chairman (also SID) 2 further SIDS CEO; CFO; COO 11 Shareholder-nominated Directors 4 alternate Directors • Supported by General Counsel/Company Secretary • 5 Sub-Committees - Safety, Sustainability, Audit & Risk, Remuneration and Nominations 2 Steering Committees - Finance and Public Inquiry and Related Matters Advisory Board to Cadent Foundation Board Effectiveness Regularly evaluated; supported by independent third party 2020 review Safety & Sustainability Committee divided into two separate Committees; Finance Committee reconstituted as Steering Committee Structure and flow of Board agendas and papers reviewed to ensure information enables appropriate scrutiny and enquiry Appointment of independent expert advisors to the Board to consider Cyber matters Driving Performance and Culture Targets set for Cadent colleagues, convey our expectations on delivering our RIIO-2 commitments for the benefit of our customers and wider stakeholders Short Term Incentive Plan measures include Customer Excellence; Economic Outcome, Safety, Sustainability and Business Outcomes Long Term Incentive Plan measures, applicable to senior managers/ executive team, include delivery of RIIO-2 Customer Strategy, Economic Outcomes, Sustainability Commitment, RIIO-2 Commitment and Energy System Transition 33 33

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