Delta SBD acknowledges the importance of having independent Directors as determined by objective criteria and the important role they serve in assuring Shareholders that the Board is properly fulfilling its role and is diligent in holding senior management accountable for its performance. Importantly, Delta SBD is committed to having a Board whose members have the capacity to act independently and have the composite skills to optimise its financial and operational performance and maximise returns to all shareholders.

The Company has two Non-Executive Directors, Mr Dawkins and Mr Galt.

The composition of the Board is determined according to the following principles:

• The Board must comprise members with a broad range of experience, expertise, skills and contacts relevant to the Company and its business
• There must be at least three Directors
• The number of Directors may be increased where the Board considers that additional expertise is required in specific areas or when an outstanding candidate is identified
• The Chairman must be a Non-Executive Director
• The Chairman is responsible for the leadership of the Board and for the efficient organisation and conduct of the Board. The Chairman should facilitate the effective contribution by all Directors and promote constructive and respectful relations between Directors
• The ultimate long-term objective of the Board is that at least half of the Board should be Non-Executive Directors. This will occur where possible, however subject to the size and nature of the Company from time to time