QCA compliance

Establish a strategy and business model which promote long-term value for shareholders

Savannah has clearly set out its vision for the medium to long term and regularly communicates this to its stakeholders. In addition, the Board meet on a regular basis to discuss the strategic direction of the Company, and the progress towards achieving its objectives. Savannah seeks to enhance and ultimately realise sustainable value for stakeholders through the successful delivery of material oil energy projects in Africa. To achieve this, Savannah follows the following model:

Hydrocarbons business model

Explore/Discover/Appraise
Through the acquisition of seismic and other geophysical data and detailed subsurface studies, we build exploration portfolios and identify drilling targets.Through exploration and appraisal drilling we find oil and gas reserves and resources to be produced and monetised in the future.

Develop/Produce.
We drill wells and install facilities to enable oil and gas reserves to be produced.

Process/Transport/Sell
We invest in infrastructure to process and transport produced hydrocarbons to end customers.

Reinvest/Acquire/Return
Our reinvestment strategy is to prioritise opportunities that have the potential to deliver high-quality cash flows and are net asset value-accretive. To this end, we expect to reinvest in projects that extend the economic life of our existing asset base and we plan to acquire assets that either have synergies with our existing portfolio, or represent new ventures which are aligned with our corporate purpose and strategy.

Renewable energy business model

Development
We carry out greenfield development by identifying suitable project sites, undertaking resource assessments and obtaining the necessary authorisations. Preliminary engineering is then carried out alongside environmental and social impact studies. We enter into long-term power purchase agreements and construction contracts and then procure project financing.

Construct
We construct power generation facilities along with the associated infrastructure required to connect to the electricity grid.

Operate
We manage the operational phase which involves the technical and commercial management of the project, with a focus on continued optimisation of energy production.

Reinvest/Acquire/Return
Our reinvestment strategy is to prioritise opportunities that have the potential to deliver high-quality cash flows and are net asset value-accretive. To this end, we expect to reinvest in projects that extend the economic life of our existing asset base and we plan to acquire assets that either have synergies with our existing portfolio or represent new ventures which are aligned with our corporate purpose and strategy.

More detailed information on the Company’s business model, strategy and performance can be found in the Strategic Report in the latest Annual Report and Accounts. The Company’s strategy, purpose, business model and Key Performance Indicators are subject to an annual review by the Board.

Seek to understand and meet shareholder needs and expectations

Website disclosure

The Board is committed to ensuring that there is open and effective communication with the Company’s shareholders on matters such as governance, strategy, and performance-related remuneration, and that the Directors understand the views of major shareholders on such matters. The Company communicates with shareholders and potential investors through a variety of channels, including the Annual Report, regulatory announcements, operational updates, and a proactive and comprehensive investor relations programme which is managed in line with operational developments, corporate news flow, and the Company’s financial calendar.

The Chief Executive Officer, Chief Financial Officer, and the Investor Relations team maintain regular dialogue with major institutional investors and analysts and provide the Board with regular reports on investor and analyst feedback. The Company holds investor roadshows throughout the year as appropriate. The Company’s representatives participate in a number of investor events. Presentations to investors are posted on the Company’s website. The Chief Executive Officer and the Chief Financial Officer are available to meet with institutional investors to explain the Group’s strategy and performance and listen to investors’ views. The Chairman and Non-Executive Directors are also available to meet with shareholders on request. The Annual General Meeting (“AGM”) is usually also another opportunity for shareholders to meet and speak to members of the Board directly and the Company will keep shareholders updated on any opportunities to interact with the Board. The Company maintains a database of meetings held by the Directors with shareholders, potential investors, and analysts. Reports on meetings held with existing and potential investors and briefings from the Company’s corporate brokers are provided to the Directors and discussed at Board meetings. Analysts’ reports received on the Company are reviewed and monitored by the senior management team and circulated to the Board as appropriate. Investor relations support is provided to analysts covering and initiating coverage of the Company.

The Company’s website provides the contact details of the Company’s Investor relations team: ir@savannah-energy.com

Take into account wider stakeholder and social responsibilities and their implications for long-term success

Website disclosure

The key stakeholders which the business relies on include its people, customers suppliers and partners, shareholders and lenders, governments, local authorities and regulators and local communities in the areas that the Group operates in. The Group takes a proactive and robust approach in recognising, assessing, managing and mitigating the risks facing the Company with the aim of protecting its employees, contractors and other stakeholders and safeguarding the interests of the Group and its shareholders.

• Our people
  We have an open, collaborative and inclusive management structure and engage regularly with our employees. We do this through a variety of methods, including a performance management process with structured career conversations, regular internal announcements, town hall sessions, screensavers, employee surveys, our corporate intranet site, Company presentations, team away days and our training programmes. During 2023 we introduced a range of new initiatives,such as the “Knowledge Exchange”, the Savannah Book Club, the
  “Learning Log” and the “Sparks Programme” designed to foster engagement and promote collaboration and knowledge sharing. We also launched our refreshed corporate intranet site in November 2023, designed to be a more streamlined and informative resource for employees. Post-year end in January 2024, we launched the “Centre for New Ideas” initiative, designed to unlock employees’ creative potential and help shape the future of Savannah. We also provide an independent “Speak Up” whistleblowing service to enable all employees to report any concerns they may have relating to ethics, compliance and significant workplace issues.
• Our host countries and communities
  We take a constructive and positive approach to working with local communities, seeking to maintain good relationships with them all. We engage with the local communities in which we operate, maintaining our social licence to operate by ensuring that our policies on safety, the
  environment and human rights are followed to the highest standards in our operations, projects and activities. Regular engagement meetings are held with the local communities in which we operate to discuss and manage any concerns proactively. These meetings also help us keep local stakeholders updated as we progress in our operations and projects. This process is also applicable to our local project contractors who engage with the communities as often as required. The regular interaction, through both formal and informal engagement meetings with local stakeholders, allows us to address any actual and/or perceived issues or concerns they may have, ensuring that our social licence to operate is maintained. The participatory principle is always applied and, wherever it operates, Savannah deploys stakeholder engagement and grievance management procedures in all engagement forums. In addition, we have a local content policy designed to ensure that, wherever possible and appropriate, we prioritise qualified employees and suppliers from our local communities.
• Governments, local authorities and regulators
  In 2023 we took a proactive and constructive approach to working with national and local authorities, as well as regulators in Nigeria, Niger and Cameroon. We contribute to government and local authorities in the countries in which we operate in the form of royalties, taxes and fees. Our cumulative payments to local governments since 2014 total approximately US$218 million.
• Our shareholders and lenders
  Our investor relations programme is designed to answer investor queries and provide public
  disclosure on results and other material developments within the business. It also ensures that shareholders’ views are communicated to our Board and are considered in the Company’s decision making. Our investor relations programme includes regular updates, calls, meetings, investor roadshows and our Annual General Meeting, as well as participation in investor and industry conferences. We also continued to engage with our investors’ ESG and stewardship teams ahead of the 2023 AGM and via their participation in our materiality
  assessment surveys. During 2023, we also had significant engagement with our lenders, as
  we progressed the refinancing of the Accugas US$ debt facility into a new Naira denominated transitional facility and secured the Reserved Based Lending facility for the  SIPEC Acquisition.
• Our customers, suppliers and partners
  Our senior management team engages in regular meetings with our customers, suppliers and partners, and we also participate in local industry events. The purpose of this engagement is to establish, manage and maintain relationships with these important stakeholder groups. In Nigeria, our commercial team is responsible for identifying and marketing our gas to potential new customers. Supply chain procedures are in place which govern all procurement of goods and services, and we have a comprehensive vendor contracting strategy in place. These ensure that ethical, regulatory and best practices are strictly adhered to.
• All stakeholders
  The Company expects all its people, including suppliers, contractors and consultants to conduct their day-to-day business activities in a fair, honest and ethical manner. Our commitment to ethical conduct is evident in the area of anti-corruption and we operate a zero-tolerance policy towards all forms of corruption and unethical conduct. In furtherance of this, our employees and third parties must adhere to the Company’s Anti-Corruption and Anti-Money Laundering Policy. Management at all levels are responsible for ensuring that those reporting to them, internally and externally, are made aware of and understand this policy.

Embed effective risk management, considering both opportunities and threats, throughout the organisation

The Board has overall responsibility for establishing and maintaining the Group’s system of internal controls and risk management and reviewing its effectiveness. As with any successful company, delivering the Company’s business objectives and overall strategy will involve taking considered risks. The Group’s internal controls and risk management framework have been designed to assist the Board in making robust decisions to create and protect shareholder value by creating sustainable growth over the medium to long term.

The Board recognises that such a system has its limitations. Internal controls can only provide reasonable, not absolute, assurance against material misstatement or loss. The purpose of an effective risk management framework is to assess and manage rather than eliminate risk entirely, which involves Directors and senior management exercising a degree of judgement.

The internal control framework within which the Group operates includes the following key elements:

• Organisational structures (functional matrix organisational structure), delegations of authority and reporting lines;
• Group accounting and control procedures to manage the Group consolidation and reporting requirements, including:
  • Review of monthly management accounts with comparison of actual performance against budget; and consideration of the outturn for the year; and
  • Monthly reconciliation of all key control accounts;
• Budgetary process and monthly monitoring of the annual budget, business performance and deviations from the budget; and
• Operational and strategic review processes for all aspects of the Group’s business.

A number of policies and procedures are also in place, as part of the Group’s internal control framework, which include the Group Anti-Corruption and Money Laundering policy, the Delegation of Authority system, Travel and Entertainment and Petty Cash policies.

The Board has undertaken a review of the effectiveness of the Group’s risk management and internal control systems, based on a report from the CFO, which provided comfort regarding all material controls, including financial, operational and compliance controls. The overall conclusion was that the risk management and internal control systems were effective in terms of ensuring consistent achievement of their key objectives in the current context of the Group. The principal risks faced by the business, their potential impact and how they are mitigated are described in the Principal Risks section of our latest Annual Report and Accounts.

The Group’s whistleblowing, anti-bribery and corruption controls are described in more detail within our latest Annual Report and Accounts. 

Maintaining the Board as a well-functioning, balanced team led by the Chair

The Board is collectively responsible to the shareholders of Savannah for the effective oversight and long-term success of the Company. In 2018, Savannah formally adopted the QCA Code as the basis of the Group’s governance framework and reviewed its existing governance policies and procedures to align them with the recommendations of the QCA Code.

The Chair is responsible for leading the Board and ensuring that it remains effective in fulfilling its role.

He sets the Board’s agenda and ensures that there is appropriate focus on strategic issues and the monitoring of performance. The Chair promotes a culture of openness and debate within the Board, where Directors can discuss and challenge the actions of the executive management, as well as the views of all Directors, promoting good decision-making and ultimately supporting the Company’s long-term, sustainable success. The Company has chosen not to establish a separate Nomination Committee or to appoint a Senior Independent Director as, at present, the Board considers that this would be unnecessarily burdensome in the context of the current size and complexity of the business. The Board intends to continue to keep these decisions under review as the business evolves.

• Information
  The Board and its Committees are provided with high quality information on a timely basis in order to facilitate the proper assessment of the matters under consideration and the Non-Executive Directors are provided with access to all information they require and to external advice as necessary. The Board and its Committees are supported by the Company Secretary and the Company’s in-house legal team headed by the General Counsel with additional external advice sought as appropriate in relation to governance, statutory and compliance matters, as well as organising and circulating the meeting papers, as well as with other governance, regulatory and compliance matters.
   
• Board composition
  The Board currently comprises nine Directors: the Non-Executive Chair, the Non-Executive Vice Chair, five Non-Executive Directors and two Executive Directors: the CEO and CFO. The Board is considered to be of an appropriate size, given the size and scope of the business, and balanced with the right skills and expertise. The names and responsibilities of the current Directors, together with their biographies can be found on Savannah’s website. 
   
• Directors’ independence & time commitment
  The Board has considered and reviewed the independence and effectiveness of each Non-Executive Director, taking into account the guidance in the QCA Code, and is of the view that all Non-Executive Directors continue to be independent in character and judgement and free from relationships or circumstances that could affect their judgement. The Board considers that all Directors continue to be effective and committed to their roles and have sufficient time available to perform their duties. The attendance records of all Directors are disclosed within the Governance report in Savannah’s latest Annual Report and Accounts.

Ensure that between them the Directors have the necessary up-to-date experience, skills and capabilities

The Board believes that it is of an appropriate size given the size and scope of the business and that its members have the necessary balance of skills, knowledge, background and capabilities to lead the Company effectively. The Directors’ biographies, which can be found on Savannah’s website, illustrate the breadth of high calibre skills and experience that the Directors bring to the Board; to help deliver the strategy of the Company for the benefit of the shareholders over the medium to long term. These include appropriate industry, operational, risk management, financial, legal and regulatory experience and, in the case of the Non-Executive Directors, the willingness and ability to provide robust and objective challenge to the views and assumptions of senior management and other Directors.

In order to ensure that the continued development of the Board is in parallel with the pace of the expansion and dynamism of the Company, during 2024 we intend to undertake an evaluation of the Board, its Committees and each Director. As evidenced by the new Director appointments over the last two years, the Board continues to place significant value on having Directors with diverse outlooks and varied experiences to achieve the balance of skills required to run a company such as Savannah during this stage of its growth cycle.

• Appointments and diversity
  The Board places value on attracting Directors with diverse outlooks and experience, and the Remuneration Committee encourages the inclusion of the best male and female candidates from all backgrounds when conducting external searches. On the Remuneration Committee’s recommendation, the Board makes appointments to achieve the balance of skills, outlook and experience needed, but does so solely on merit (and accordingly, the Group has not adopted a formal policy on diversity).
   
• Training
  The Directors receive regular updates on market and regulatory developments and are provided training, as required, to ensure that their skills and experience are kept up to date. Regular briefings and updates from the Company’s NOMAD and external legal counsel including compliance with the Companies Act 2006, AIM Rules, the QCA Code and Market Abuse Regulation are reviewed by the Board.

Evaluate Board performance based on clear and relevant objectives, seeking continuous improvement

In line with the recommendations of the QCA Code and in order to ensure that the continued development of the Board is in parallel with the pace of the expansion and dynamism of the Company, during 2024 we intend to undertake an evaluation of the Board, its Committees and each Director. As evidenced by the new Director appointments over the last two years, the Board continues to place significant value on having Directors with diverse outlooks and varied experiences to achieve the balance of skills required to run a company such as Savannah during this stage of its growth cycle.

The last evaluation was conducted on the basis of a detailed questionnaire followed by a discussion to assess the effectiveness of the current activities and processes, and to identify any possible areas for improvement. The results were anonymised and the findings were presented to the Board for review.

The latest questionnaire focused on the following areas:

• Balance of matters discussed at Board meetings;
• Communications with shareholders and other stakeholders;
• Effectiveness of the Chairman and the individual Directors;
• Work of the Board Committees;
• Relationship between the Non-Executive Directors and the Executive Directors; and
• Governance arrangements.

Succession planning

The Board acknowledges the importance and the value of succession planning in order to ensure that the Group has the benefit of an appropriate mix of skills and experience as the business evolves. Succession plans for the Board are informed by discussions around the Group’s strategy, objectives and forward plans, as well as an assessment of the Directors’ current mix of skills, experiences and personal qualities. Succession planning for key members of the senior management team is also an ongoing process. The Board places value on attracting Directors with diverse outlooks and experience, and the Company encourages the inclusion of the best candidates from all backgrounds when conducting external searches. The Board makes appointments to achieve the balance of skills, outlook and experience needed, but does so solely on merit.

The Board of Directors comprise of seven men and two women, while female representation in senior management is 33%

Promote a corporate culture that is based on ethical values and behaviours

The Company is committed to promoting a healthy and responsible corporate culture. Accordingly, a number of policies and mechanisms are in place to ensure that ethical values and behaviours and fair business practices are embedded in the way Savannah operates. The Company expects all employees, suppliers, contractors, and consultants to conduct their day-to-day business activities in a fair, honest, and ethical manner.

The framework of policies and procedures in place enables the Board to ensure that the Group’s employees and those who provide services to it act in accordance with high standards of ethical conduct; and that Savannah only does business with persons who are engaged in legitimate business activities and who use funds from legitimate sources.

• Anti-Corruption and Anti-Money Laundering policy
  The Company has adopted an Anti-Corruption and Anti-Money Laundering Policy which applies to the Board and all employees of the Group. It sets out their responsibilities in observing and upholding a zero-tolerance position on bribery and corruption in all jurisdictions in which the Group operates, as well as providing guidance on how to recognise and deal with bribery and corruption issues and their potential consequences. The Group’s policy is circulated to all employees of the Group and third parties (including contractors and consultants) to ensure it is embedded across the organisation and jurisdictions. All Group employees are required to confirm receipt and understanding of the Anti-Corruption and Anti-Money Laundering Policy and undergo anti-corruption and money laundering training on an annual basis. Management at all levels are responsible for ensuring that those reporting to them, internally and externally, conduct business in compliance with this policy. All other third parties under our contract management process must acknowledge that they have read the Savannah Anti-Corruption and Anti-Money Laundering Policy and undertake to adhere to the policy.
• Whistleblowing
  Savannah is committed to achieving high standards of conduct and accountability. Our functional matrix organisational structure allows employees to openly report legitimate concerns regarding any possible improprieties in financial reporting or any non-compliance with applicable laws, regulations or Group policies, danger to health and safety, damage to the environment or other matters. The Company has an independently run whistleblowing hotline and other mechanisms that enable the employees to raise any concerns anonymously, without fear of penalty or punishment.The Compliance Committee regularly reviews whether
  these arrangements continue to function effectively.

Maintain governance structures and processes that are fit for purpose and support sound decision-making by the Board

The roles of the Chair and Chief Executive Officer are separate, with a clear division of responsibilities. The separation of authority enhances independent oversight of the Executive team by the Board and helps to ensure that no one individual on the Board has unfettered authority.

• Role of the Chair
  In accordance with the principles of the QCA Code, the Chair is responsible for leading the Board and ensuring that it remains effective in fulfilling its role. He sets the Board’s agenda and ensures that there is appropriate focus on strategic issues and the monitoring of performance. The Committee Chairs perform the same role for their respective Committees.
   
• Role of the Chief Executive Officer
  The Chief Executive Officer is responsible for managing the day-to-day operations and the
  implementation of the strategy of the Company on behalf of the Board. The Company’s performance and development planning are considered by the Directors in the context of the
  Company’s overall strategy and goals, within the Company’s risk and governance frameworks and taking into account their impact on stakeholders in the longer term. With a culture of
  openness and debate, the Directors can discuss and challenge the actions of the executive team, as well as the views of all  Directors, promoting sound decision making and ultimately
  supporting the Company’s long-term, sustainable success.

The Board is collectively responsible to the shareholders of Savannah for the effective oversight and long-term success of the Company. 

The Board remains committed to understanding the needs of shareholders and the wider stakeholders and it always considers how the Board’s decisions impact them in the longer term. In “Section 172” of the latest Annual Report and Accounts,

The latest Annual Report and Accounts includes a report from each 

Matters reserved for the Board

In addition to matters required by the Companies Act 2006, the Board has overall responsibility for the Company’s strategy, purpose, business model, performance, capital structure, approval of key contracts and major capital investment plans, the framework for risk management and internal controls and governance matters and engagement with shareholders and other key stakeholders. The Board remains committed to understanding the needs of shareholders and the wider stakeholders and it always considers how the Board’s decisions impact them in the longer term. In “Section 172” of the latest Annual Report and Accounts, we explain who the key stakeholders are and how the Directors engage with them. The Board’s full responsibilities are set out in a formal schedule of matters reserved for its decision The schedule of matters reserved for the Board was updated in December 2023.

The Board delegates certain responsibilities to its Committees, so that it can operate efficiently and give an appropriate level of attention and consideration to relevant matters. The Company has an Audit Committee, a Remuneration Committee, a Health, Safety, Environment and Security and Risk Committee and a Compliance Committee, all of which operate within a scope and remit defined by specific terms of reference determined by the Board. The latest Annual Report and Accounts includes a report from each of the Board Committees which operated during the year. The composition and role of each Committee, together with each of Committee's terms of reference are available on the Board Committees page of our website which you can access with the link below.

Read more about our Board Committee's

Audit Committee 

Its key responsibilities are:

• Advising the Board (independently of the Executive Directors and external auditor) whether it considers the Company’s corporate reporting including the Annual Report and Accounts to be fair, balanced and understandable;
• Monitoring the Company’s financial reporting processes and the integrity and content of the Financial Statements, including reviewing, reporting and making recommendations to the Board on significant financial reporting issues and judgements;
• Reviewing whether, and in what form, the Company will have an internal audit function;
• Monitoring, overseeing and assessing the Group’s strategy and framework of policies, procedures, systems and controls to identify, assess, manage and report on  compliance matters, including the prevention and detection of fraud and tax evasion;
• Reviewing and approving the annual audit plan and reviewing the audit findings with the external auditor, and
• Assessing external auditor objectivity and independence and reviewing the performance and remuneration of the external auditor.

Remuneration Committee

Its key responsibilities are:

• Determining and agreeing the Company’s remuneration policy with the Board;
• Defining and establishing remuneration for the Non- Executive Chair, the Executive Directors, and the senior leadership team;
• Reviewing and determining the remuneration policy across the Group, and
• Determining that remuneration, benefits and rewards are designed and aligned to achieve the goals, strategy and values of the Company.

Compliance Committee

Its key responsibilities are:

• Reviewing and monitoring compliance controls, policies and systems to identify, assess, manage and report on compliance matters, including:
• Maintaining adequate compliance procedures, policies and systems;
• The prevention of bribery, corruption, money laundering and countering of terrorist financing;
• Gifts and hospitality, per diem payments, business relationships, including dealings with public officials, host communities, agents, intermediaries, consultants, contractors and advisers;
• Mergers, acquisitions and major new projects;
• Whistleblowing arrangements and reports;
• Conflicts of interest; and
• Legal and regulatory compliance risks.
• Assessing the adequacy and effectiveness of the compliance framework.
• Communicating the Board’s commitment to compliance to the Group’s staff, contractors and other stakeholders.

Health, Safety, Environment, Security and Risk Committee

Its key responsibilities are:

• Monitoring and testing the:
• Group’s performance in respect of safety and operational integrity and sustainability; and
• effectiveness of the Group’s systems of internal control for the safety, operational integrity and operational sustainability matters, including applicable management systems, policies, practices, processes, leadership and culture.
• Monitoring the management and mitigation of the principal risks allocated to the Committee by the Board and such emerging risks as the Committee may determine fall within its scope from time to time.
• Reviewing and testing management response to relevant Group reports and the finding of selected safety investigations.
• Reviewing the Company’s annual Sustainability Review and such other materials intended for disclosures or publication as may be allocated to the Board from time to time.

Communicate how the Company is governed and is performing by maintaining a dialogue with shareholders and other relevant stakeholders

The Board is committed to ensuring that there is open and effective communication with the Company’s shareholders on matters such as governance, strategy, sustainability, and performance-related remuneration, and that the Directors understand the views of major shareholders on such matters.

The Company communicates with shareholders and potential investors through a variety of channels including:

• The Annual Report and Accounts;
• Regulatory announcements and operational updates;
• A proactive and comprehensive investor relations programme;
• The Chief Executive Officer, the Chief Financial Officer, and the Investor Relations team maintain regular dialogue with major institutional investors and analysts and provide the Board with regular reports on investor and analyst feedback;
• The Company holds investor roadshows throughout the year as appropriate;
• The Company’s representatives attend a number of investor events;
• Presentations to investors are posted on the Company’s website at www.savannah-energy.com
• The Chief Executive Officer, the Chief Financial Officer is available to meet with institutional investors to explain the Group’s strategy and performance and listen to investors’ views;
• The Chairman and Non-Executive Directors are available to meet with shareholders on request;
• The AGM usually provides an opportunity for shareholders to meet and speak to members of the Board directly and the Company keeps shareholders updated on any opportunities to interact with the Board;
• Reports on meetings held with existing and potential investors and briefings from the Company’s corporate brokers are provided to the Directors and discussed at Board meetings;
• Analysts’ reports received on the Company are reviewed and monitored by the senior management team and circulated to the Board as appropriate.

Other stakeholders

The Company is committed to seeking to create, add and realise value not just for its financial stakeholders but for its employees, local communities and its business partners. Savannah believes that maintaining effective stakeholder engagement programmes is essential and that sustainability underpins everything we do. More information can be found in the Sustainability Review of Savannah’s latest Annual Report and Accounts.

Shareholder votes

At the 2023 Annual General Meeting held on 30 June 2022, the largest number of votes cast against any resolution was 6.32% of the votes received.

At the 2022 Annual General Meeting held on 30 June 2021, the largest number of votes cast against any resolution was 2.91% of the votes received.

At the General Meeting held on 24 January 2022, to approve the proposed Exxon acquisition, approve the Petronas acquisition and to authorise further ordinary shares, EBT shares and warrant shares, and to disapply statutory pre-emption rights of these shares. The largest number of votes cast against any resolution was 16.67% of the votes received.

Presentations to investors are posted on the Company’s website here.

Copies of the historical annual reports and governance related material including notices of all general meetings over the last five years can be found on the Company’s website:

https://www.savannah-energy.com/investors/shareholder-information/documents-circulars/
https://www.savannah-energy.com/investors/results-reports-presentations/

Notice of the 2023 Annual General Meeting which was held on 30 June 2023 can be found on the Company’s website: https://www.savannah-energy.com/investors/shareholder-information/documents-circulars/