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For personal use only 

The Board and management consider it essential that for the Group to achieve its vision and mission as an integrated supplier of goods and services to the resources sector, it is necessary for the Group to meet and exceed the highest industry standards is safety, environmental performance, governance and business ethics. Accordingly, specific corporate governance policies have been issued to detail the expected behaviour required to ensure these objectives are met. These are available on the Corporate Governance section of the Group’s website: www.mineralresources.com.au. 

The ASX Corporate Governance Council released the second edition of its “Good Corporate Governance Principles and Recommendations” (“Recommendations”) in August 2007 and amended these in 2010. The Board supports the thrust of the Recommendations and whilst the Recommendations are not prescriptive, the ASX Listing Rules require listed companies to disclose the extent to which they have followed the Recommendations in the reporting period and identify those Recommendations that have not been followed and the reasons for not following them. 

## SECTION 1: SUMMARY OF PRINCIPLES, RECOMMENDATIONS AND MRL’S COMPLIANCE: 

## ASX Recommendations 

## Principle 1 – Lay solid foundations for management and oversight 

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## Principle 2 – Structure the Board to add value 

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## Principle 3 – Promote ethical and responsible decision making 

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## How MRL satisfies the Recommendations 

