Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 167

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 167
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 come together, share experiences, mentor and support each other.   Role in riskoversightThe safety and sustainability committee reviews and monitors the company’s policies and practices in matters of environment, health, personnel and process safety and security, which policies and practices are intended to mitigate and manage risk in these areas. This includes specific reviews with respect to climate risk and the company’s strategies to address these risks. It also includes pandemic and emergency response and continuity planning, in relation to health pandemics and epidemics. The committee receives regular reports from management on these matters.IndependenceThe members of the safety and sustainability committee are independent, with the exception of N.A. Hansen.

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Nominations and corporate governance committee 

The role of the nominations and corporate governance committee is to oversee issues of corporate governance as they apply to the company, including the overall performance of the board, review potential nominees for directorship and review the charters of the board and any of its committees. The formal mandate of the committee can be found within the Nominations and Corporate Governance Committee Charter in Appendix A of this circular. The committee is satisfied that its activities over the year have fulfilled its mandate.

Committeemembers●   M.C. Hubbs (chair)●   S.R. Driscoll●   J.N. Floren (vice-chair)●   G.J. Goldberg●  D.W. Cornhill●   N.A. HansenNumber ofmeetingsSix meetings of the nominations and corporate governance committee were held in 2024.Committee highlights in2024●   Approval of the statement of corporate governance practices.●   Engagement in board and committee self-assessment.●   Review of director compensation principles.●   Recommendation to establish the lead director position.●   Recommendation for changes to board and committee charters to reflect mandates of those committees.Role in risk oversightThe nominations and corporate governance committee oversees risk by implementing an effective program for corporate governance, including board composition and succession planning.IndependenceThe members of the nominations and corporate governance committee are independent, with the exception of N.A. Hansen, who is not considered to be independent under the rules of the U.S. Securities and Exchange Commission, Canadian securities rules and the rules of the NYSE American LLC due to his