MEGT's Strategic Planning Committee

Charter

Constitution
The Strategic Planning Committee (“Committee”) is a formally constituted committee of the Board of MEGT (Australia) Ltd.

Membership
The Committee will consist of not less than five members, made up of at least three independent Board members nominated by the Board, together with the CEO and Strategy & Development Manager. The Board Chair will be an ex-officio member.

Chair
The Board will nominate the Chair of the Committee.

Other attendees
The CFO and all Directors have a standing invitation to attend meetings of the Committee.

Other members of senior management maybe invited to be present at the meetings as required in order to provide input into specific actions being developed.

Quorum
The quorum will consist of three members including two Directors.

Meeting frequency
Meetings will be held not less than four times per year to enable the Committee to effectively undertake its role.

Role and responsibilities
The role of the Committee is to assist the Board in fulfilling its duties by providing independent and objective review and advice to the Board, the CEO and Strategy & Development Manager with respect to the development and implementation of corporate strategy.

The Committee will:
 
1. guide the development of the three year strategic plan and provide a recommendation to the Board regarding 
    its approval
 
2. monitor the implementation of the strategic plan by the management team
 
3. evaluate and then provide recommendations to the Board regarding strategic initiatives/feasibility studies/
    business cases, including acquisitions, divestments and alliances
 
4. act as a sounding board for the CEO and Strategy & Development Manager on strategic issues
 
5. provide input into the annual operating budget (including the capital expenditure budget)
 
6. evaluate the validity of the planning process and the quality of recommendations (including the completeness
    of information used for planning, the underlying assumptions and the transparency and accountability of the
    planning process) and ensure that appropriate standards for evaluating corporate performance are adopted
 
7. refine and articulate organisational goals and strategic objectives for the implementation of MEGT’s vision
    and recommend these to the Board
 
8. work with the Finance, Audit and Risk Management (“FARM”) Committee and the Nominations and
    Remuneration Committee (“NRC”) in setting and reviewing KPIs
 
9. guide the planning of Board strategy discussions.

Reporting procedures
The minutes of the meetings of the Committee will be circulated to all Committee members for comment and change before being circulated with Board papers for the next Board meeting or as otherwise agreed.

Review
The Board will review this Charter from time to time to ensure it remains consistent with the Board’s objectives and responsibilities.