KENANGA ANNUAL REPORT 2017

b. The current Directors’ remuneration framework of the Company is as set out below. Description Chairman Deputy Chairman Board Members Benefits (applicable to the Company only) Club membership, leave passage, driver, vehicle and other claimable benefits Club membership, vehicle and other claimable benefits Nil Type of Meeting Allowance (per meeting) Chairman (1) NED/Member Board of Directors RM2,000 RM2,000 General Meeting RM2,000 RM2,000 Board Committees RM2,000 RM2,000 Notes: (1) In view of the increased complexity of the matters discussed at the meetings, length of meetings, as well as the fact that the meeting allowance of RM1,000 had not been reviewed for more than ten (10) years, the Board of Directors had at its meeting on 8 March 2018 approved the recommendation of the Group Nomination and Remuneration Committee (“ NRC ”) on the increment of the meeting allowance for the Board meetings and Board Committee meetings of the Company from RM1,000 to RM2,000 effective from 1 January 2018. In approving the increase, the Board had also undertaken a benchmarking of the level of meeting allowance paid to the Directors vis-à-vis the other listed companies in Malaysia. c. Payment of the benefits to the NEDs of the Company and its subsidiaries is made on a monthly basis and/or as and when incurred if the proposed Ordinary Resolution 8 is passed at the Forty-Fourth (44 th ) AGM. The Board of Directors is of the view that it is just and equitable for the NEDs to be paid the benefits on a monthly basis and/or as and when incurred, particularly after discharging their responsibilities and rendering their services to the Company and its subsidiaries throughout the Current Period. 9. Re-appointment of Auditors The Board of Directors had at its meeting on 30 January 2018 approved the recommendation of the Audit Committee on the re-appointment of Messrs. Ernst & Young as Auditors of the Company to be further recommended to the shareholders for approval, after having considered several factors including the adequacy of experience and resources of the firm and the professional staff assigned to the audit. Pursuant to Section 67(2) of the Financial Services Act, 2013, BNM had, on 8 March 2018, approved the Company’s application for the re-appointment of Messrs. Ernst & Young as Auditors of the Company. Kenanga Investment Bank Berhad 238 NOTICE OF FORTY-FOURTH (44 TH ) ANNUAL GENERAL MEETING