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SUSTAINABLE DEVELOPMENT REPORT | 2017Responsibilities: Τhe Board of Directors is the company’s administrative body, re- sponsible for formulating and imple- menting the long-term strategy of the company as well as the policies and pro- cedures adopted for its implementation. The Board of Directors has the power to decide on all matters in general relating to the company’s administration, the management of its assets in line with the company’s business object and its pursuit in general, with the exception of cases where, in accordance with the law or the Articles of Association, the General Meeting of the Shareholders has exclu- sive competence. The Board of Directors, acting collectively, represents the com- pany before the courts as well as out of court.Evaluation of the performance of the Board of Directors. The performance of the Board of Directors and of its commit- tees is evaluated at least every two years. This evaluation is based on the self-evaluation method and takes place during a Board meeting convened espe- cially for this purpose at the invitation of the Chairman.AUDIT COMMITTEEThe Audit Committee is composed of three members. These are non-execu- tive members of the BoD possessing the required knowledge and experience. The Audit Committee’s main task is to pro- vide support to the Board of Directors of the Company in connection with assur-ing the effectiveness of the accounting and financial systems, auditing mecha- nisms and business risk management systems, the compliance with the legal and regulatory framework, and the effec- tive application of the principles of Corpo- rate Governance.INTERNAL AUDIT DEPARTMENTThe Internal Audit Department supports the Audit Committee in the fulfilment of its responsibilities. In performing his/her duties, the person heading the Internal Audit Department enjoys independence, does not report to any other company unit and is supervised by the Audit Com- mittee.The Remuneration and Nomination Committee is composed of three non-executive members of the Board of Directors. It is mainly responsible, among other things, for determining the selection criteria and replacement procedures for Board mem- bers, submitting to the Board proposals on the appointment of candidate members, periodically evaluating the size and com- position of the Board, submitting proposals on the diversity pol- icy, including on the balance in gender representation, and submitting to the Board proposals on the formulation of opera- tional policies linked to remunerations.During 2017, the Remuneration and Nominations Committee held one meeting, which was in quorum as all Committee members were present.The company has in place an Internal Regulation of Operation whose purpose is to ensure transparency in decision-making and accountability at all levels of the hierarchy, and which in- cludes procedures for identifying and limiting cases of conflict of interest and of unacceptable market practices.Remuneration and Nomination Commitee/18SELONDA AQUACALTURE

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