As with previous years, the Group encountered several phishing attempts in 2025; of which one targeted at a subsidiary was serious and attempted to redirect funds. Thankfully, no funds were lost. In response, several additional Group security measures had been implemented and training for staff was reinforced to ensure awareness and compliance with cybersecurity protocols. We will continue to prioritise strengthening security throughout the organisation and fostering vigilance among our employees through continuous cybersecurity training and awareness programmes. There were no reported data breaches in FY2025. Sustainable Supply Chain Management GRI 308-1, 308-2, 414-1, 414-2 The Group acknowledges that sustainability extends beyond its operations to encompass its upstream business partners. To foster sustainability among our contractors and subcontractors, we assess their sustainability performance before engagement. In Oman, all new suppliers are screened against a minimum set of HSE criteria. After being shortlisted, these suppliers are invited to participate in a Request for Quote tender, which is evaluated based on rigorous HSE standards. Consistent with MOL’s HSE requirements, our supplier social assessment process examines each supplier’s commitments, associated risks, service history, quality, cost, delivery, and compliance. In FY2025, no new suppliers were introduced for our operations in Oman. We have confirmed that all current suppliers comply with the relevant laws and regulations, establishing them as suppliers of choice. We assessed a total of 12 suppliers for their environmental and social impacts, with none identified as having significant or potential adverse effects. Although approximately four major contractors were evaluated for possible negative social impacts, none were found to have significant actual negative consequences. In FY2025, LPA was not an operator of any fields, but was a licence partner in the Brage and Yme Fields. Nonetheless, LPA diligently fulfils its responsibilities in all operational activities, focusing on the evaluation, assessment, and prevention of negative environmental impacts and human rights violations. In FY2025, all new suppliers were screened using social criteria. A total of 111 new suppliers were assessed for social impacts, of which 18 were identified as having significant actual or potential negative social impacts. Among these, 14 suppliers were classified as medium risk in relation to potential human rights transgressions and decent working conditions, primarily due to limited information available regarding their operations. Furthermore, LPA complies with the Norwegian Transparency Act, which became effective in 2023, and LPA’s Transparency Act Due Diligence report is available on its website. Forced Labour and Modern Slavery GRI 409-1 The Group is committed to compliance with employment laws in the jurisdictions in which we operate and upholding the human rights of our workforce. When considering new investments or when tendering goods and services, we review any associated human rights issues and consider how we can ensure that our operations do not conflict with any of these fundamental human rights principles. There have been no reported incidents during the reporting period which pose a significant risk of human trafficking or forced labour. Tax Compliance GRI 207-1, 207-2, 207-3 The Group is committed to full compliance with all applicable tax laws and regulations in every jurisdiction where we operate, thereby supporting local governments and authorities in achieving their economic, environmental, and social development goals. We maintain a strict zero-tolerance policy for any intentional violations of tax laws. To ensure our staff remains informed about significant changes in tax policies, relevant employees participate in ongoing tax-related training. Additionally, we collaborate with qualified professional tax advisors across all jurisdictions to guarantee compliance at the transactional level and to fulfil all necessary tax filing requirements. The AC may also engage our internal auditor periodically to assess adherence to the tax governance and control framework. Any instances of non-compliance will be promptly reported to the AC and addressed swiftly. Rex International Holding Limited 99
RkJQdWJsaXNoZXIy NTM2MDQ5