Corporate Governance

GOVERNANCE STRUCTURE AND MANAGEMENT SYSTEMS.

The company, since its foundation in 2007, has carried out its business based on high ethical standards and principles of corporate governance. The company's corporate governance system is a keystone of the company's primary objective to create value for all its stakeholders.

Inter-Africa Transport Corporation is incorporated in South Africa under the provisions of the Companies Act, 1973, as amended (Companies Act).

Inter-Africa Transport Corporation subscribes unreservedly to the principles contained in the Code of Corporate Practices and Conduct recommended by the King II Report on Corporate Governance for South Africa published in March 2002.

The board of directors places strong emphasis on achieving the highest standards of financial management, accounting and reporting. The financial statements are prepared in accordance with International Financial Reporting Standards.

Strong Non-Executive structures Remuneration and Audit Committees.

King Report on Corporate Governance for South Africa 2002