On March 23, the Company's kick-off meeting for the 2026 Shareholders Joint Audit was held at the Technology Hall. Present at the meeting were Fawaz Anazi, the Joint Shareholders Audit Team Lead and Chief Auditor of Aramco Asia, as well as company leaders Lin Xu, Haytham Zamzami, and Tan Lay Koon.

Fawaz Anazi expressed gratitude to FREP for its strong support during this Shareholders Joint Audit. He stated that, under the leadership of OOP, FREP has achieved commendable operational performance. The Company's development relies on a standardized and efficient governance system. This audit, from an external perspective, conducted a comprehensive review of FREP's corporate governance, risk management, and internal control processes. It aims to identify areas for improvement, transform weaknesses into strengths, enhance existing strengths, and lay a more solid foundation for the future development of FREP.

Fawaz Anazi emphasized that members of the audit team must adhere to the principles of "independence, objectivity, and fairness," fully leverage their professional expertise, strictly comply with all regulations and systems, diligently implement quality control procedures, engage in thorough communication with relevant personnel at FREP, collaborate closely, and complete the audit tasks on time to high standards and in an efficient manner.

Acting President Lin Xu welcomed the arrival of the audit team. He stated that the shareholder audit is a comprehensive review and examination of the Company's operational activities, fully reflecting the high level of importance and support from the shareholders for FREP. It serves as a valuable opportunity for the Company to conduct self-assessment and optimize management. All departments of the Company must fully cooperate with the audit team with the highest standards, most practical measures, and strictest requirements to ensure an efficient and orderly audit process.

Lin Xu emphasized the need to improve awareness and approach the audit with a "sense of responsibility." The Shareholders Joint Audit acts as a "health check" and "booster" for corporate governance. The entire Company must strengthen its sense of responsibility, dare to confront problems and trace them to their roots, resolutely avoid a "check-the-box mentality," ensure alignment in thinking and coordinated actions, and lay a solid foundation for the successful completion of this audit. Secondly, active cooperation is required to ensure the effectiveness of the audit through "efficient collaboration." All departments should enter a "state of readiness for the audit" and strictly adhere to the requirements of the audit team. They must ensure timely and accurate provision of materials, efficient communication and coordination, and comprehensive service support, fully cooperating with the audit team to complete all tasks. Third, it is essential to conscientiously implement rectifications and promote governance enhancement through "closed-loop management." The Company adheres to the principle of closed-loop management, implementing a "list-based management and closure-driven advancement" approach for the gaps identified during the audit. By tracing the root causes of these gaps through the monitoring system, the Company effectively transforms audit findings into a "long-term engine" for enhancing its governance capabilities.

Bonnie Wang, the lead auditor of the audit team and the Audit Manager of Saudi Aramco Asia, introduced the objectives, procedures, key audit items, members of the audit team, and their respective responsibilities. She stated that the audit team would carry out its work objectively and impartially, hoping for FREP's active cooperation in providing necessary support to ensure the successful completion of the audit task.

Sabrina Pan, a member of the audit team and ExxonMobil Audit Manager, expressed gratitude for the support provided by FREP to the audit team. She stated that audit work is an important means to strengthen internal control, prevent and mitigate major risks, and enhance governance efficiency. She hoped that through this audit, constructive suggestions would be provided to FREP to promote its healthy development.

At the meeting, Vice President Haytham Zamzami introduced the Company's operational performance and key tasks in recent years.

More than 40 individuals attended the meeting, including members of the Shareholders Joint Audit Team, department heads, BAC Office members, controls representatives, audit contacts, and related business personnel.

After the meeting, accompanied by leaders of the Company, the Shareholders Joint Audit Team visited the Exhibition Hall to gain a detailed understanding of the Company's development status and toured the production units by vehicle.

It is reported that this Shareholders Joint Audit was led by Saudi Aramco Asia Company, and engaged by auditors from all three shareholders and lasted for nearly one month. The audit focused on areas such as corporate governance, production and operations, financial and fund management, marketing and sales, supply and distribution, and information technology. （Zhang Lei）