Governance of Operational/EHS Risks Holistic Approach to Managing Risk GPIC Experience

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2 Governance of Operational/EHS Risks Holistic Approach to Managing Risk GPIC Experience November 2017

3 GPIC in Brief Established in December 1979 Joint-venture between NOGA Holding, SABIC & PIC. Utilizes Natural Gas as a raw material. Produces: Ammonia, Methanol and Urea. Started production in Production capacity: 1,500,000 tonnes annually. Manpower: 481 employees. Paid up capital : US$ 159,000,000. Dividend Paid (cumulative) : US $ 2,250,940,000. Net worth : US$ 2,500,000,000. Replacement Value : US$ 1,600,000,000.

4 GPIC Vision & Mission OUR OUR MISSION OUR 1 VISION VALUES To be a worldclass petrochemical and fertilizer company of choice, recognized for excellence To produce high quality petrochemical and fertilizer products. To grow successful partnerships and joint ventures To optimize the business in a safe, sustainable and cost effective manner To embrace knowledge, harness innovation and utilize best applicable technologies and practices Train and develop our human capital to realize their full potential Boost Shareholder value Excellence Integrity Respect Transparency Safety Professionalism Social Responsibility Creativity Teamwork

5 GPIC Pillars of Sustainability People Social Responsibility Planet Environmental Stewardship Profit Financial Stability

6 GPIC RISK Overview PSM PAS 99 An Integrated Management System Approach PAS 99 HAZOP RBI RC IFA P&S Process Risk OHS Risk ERM Risk PAS 99 OHSAS ISO ISO ISO ISO 14001

7 GPIC Integrated EHS Governance At GPIC we believe that the key components of an effective and integrated approach to EHS governance includes: 1 Leadership 2 Culture 3 Framework & System 4 Assurance & Improvement 5 Obligations & Compliance Registers

8 GPIC Integrated EHS Governance 1 Leadership 2 Culture 3 Framework 4 Assurance 5 Obligations Leadership Commitment & Engagement. Zero EHS Risk Appetite. & System Key Risk Indicator (KRI). Communication / Reporting. Resource Allocation. & Improvement GPIC committees. & Compliance Registers

9 GPIC Integrated EHS Governance 1 Leadership 2 Culture Simply, It s the way we do things around here. Within the overall business culture there is a sub-culture of safety expressed by staff, suppliers and contractors. 3 Sense Framework of ownership & of System the EHS risks. Efficient staff induction and training. 4 A culture of continuously learning, correcting and improving. Assurance & Improvement Openness and respect. Actively encouraging, recognizing and rewarding the reporting of 5hazards, Obligations incidents and & issues. Compliance Registers

10 GPIC Integrated EHS Governance 1 Leadership 2 Culture 3 Framework & System GPIC has integrated many Best Practices, Management Systems and Accreditations into its operation system. 4 Assurance 5 Obligations & Improvement & Compliance Registers

11 GPIC Integrated EHS Governance Management Systems External Audits. Management Systems Internal Audits. 1 Shareholder Leadership Audits. Management Reviews Insurance Audits and Recommendations. Daily PTW audits programme. 2 Culture BBS. SHE inspections programme. Cross Plants Audits. Walkabouts 3 Framework 4 Assurance & System & Improvement 5 Obligations & Compliance Registers

12 GPIC Integrated EHS Governance 1 Leadership 2 Culture 3 Compliance Officer Role. Circulation Framework of applicable & laws. System Bahrain Legislation Compliance Table. SOP/SI/GL to address compliance. Evaluation of compliance. 4 Assurance & Improvement 5 Obligations & Compliance Registers

13 OHS Indicator You cannot Manage what you cannot Measure

14 Thousands Work achieved safely without any Lost Time Accidents Combined LTA Performance as at 31/10/ Contractors ,943,134 GPIC ,808,135 Total hours ,751,269 Good results indicate effective and efficient management systems but also highlights the constant need for a sustainable approach to maintain that.

15 Awards & Achievements 2017 (Indicators) Patron's Award from RoSPA. For organizations who have achieved a minimum of 25 consecutive Gold Awards. H.H. Mohammed bin Rashid Al Maktoum Outstanding Business Excellence Award. Business Innovation Award. 2 nd consecutive year.

16 Awards & Achievements 2017 (Indicators) Corporate Social Responsibility Award Arabian CSR Network Kingdom of Saudi Arabia Award for Environmental Management in the Islamic World KSA Excellence Award HR Gold Standard of Excellence and Best Practice Affiliate Awards UAE DUBAI Excellence Award

17 Concluding Remarks the Never underestimate risk Ensure you measure your risks Risk doesn t go away Its not just about implementing technology & systems Risk Management starts from top down Plan for failure and don t think unlikely events will not happen And do it effectively, accurately and continuously Even if you have mitigated, avoided or transferred it. its about everyone being engaged, communicating and controlling it. involvement of your organisation s leadership empowers a culture of focus on the right things

18 Holistic Approach to Managing Risk GPIC Experience THANK YOU November 2017