193 SECTION 5 COMMITMENT TO GOVERNANCE INTEGRATED ANNUAL REPORT 2025 5.3 Whistle Blowing Policy The Company has established its Whistle Blowing Policy whereby all employees, directors, shareholders and business associates of any company within the Group can report or disclose in good faith and without fear of retaliation, through the established channel, genuine concerns about unethical, illegal or improper conduct that may contravene the Group’s policies, procedures or applicable laws. The Board of Directors will ensure that the Whistle Blowing Policy is reviewed periodically, at least once every 3 years, to assess its effectiveness and to ensure its relevance. The Whistle Blowing Policy is last reviewed by the Board on 28 August 2025. The Whistle Blowing Policy is enhanced and reviewed, and a Whistleblowing Flowchart is established to further strengthen and clearly outline the escalation process for any whistleblowing cases through the appropriate reporting channels. The enhanced policy reflects the Group’s commitment to providing a structured, transparent and confidential mechanism for reporting any actual or suspected misconduct involving employees, directors, shareholders or business associates within the Group. The WB Group recorded zero reportable cases as defined under the Whistle Blowing Policy through the established whistleblowing reporting channels during the financial year 2025. The procedures of the Whistle Blowing Policy, in raising such genuine concerns to the established channels are available on the Company’s website at www.wascoenergy.com. 5.4 Conflict of Interest Policy The Conflict of Interest Policy is established and approved by the Board of Directors on 27 February 2024 in line with Bursa Malaysia’s focus on enhancing the MMLR to address issues associated with conflict of interest involving Directors and Key Senior Management of the WB Group. The Conflict of Interest Policy is last reviewed by the Board on 29 August 2024. The objective of the policy is to ensure that actual, potential and perceived conflicts of interest are identified and managed effectively as it provides guidance on how to deal with conflict of interest situations as they arise and to protect the Group’s interest, while assisting the Directors and employees to perform with high integrity and ethical standards. The policy applies to all Directors and employees of the WB Group (including employees on contract terms, temporary staff and those on internship). The policy applies when an individual recognises, or should reasonably recognise, that a conflict of interest may arise from their current or future activities. The policy guides the individual on how to identify and declare all conflicts of interest, guides the Group on how to develop, implement and monitor actions to appropriately manage the conflict, and how to deal with breaches of the policy. The scope of the policy is relatively wide in coverage of the activities that may give rise to conflicts of interest. The Conflict of Interest Policy is available on the Company’s website at www.wascoenergy.com. 5.5 Principles of Business Conduct The Board is committed to achieving and maintaining high ethical standards with regards to behaviour at work and hence the Principles of Business Conduct is established. The Principles of Business Conduct of the Group is a formal document which sets out the guiding principles and standards in which the employees and Directors shall adhere to in conducting the day-to-day duties and operations. The Principles of Business Conduct is last reviewed by the Board on 28 August 2025. The Principles of Business Conduct is available on the Company’s website at www.wascoenergy.com. CORPORATE GOVERNANCE OVERVIEW STATEMENT
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