Corporate Governance

The Board of Directors of Calix is responsible for the overall corporate governance of the company. The board guides and monitors the business affairs of Calix on behalf of the shareholders to whom they are accountable.

The corporate governance policies are in various stages of formalisation through a number of Working Groups and Committees reporting directly to the Calix Board. These include: Audit, Risk Management, Communications and Remuneration.

Responsibilities reserved for the Board include:

• Accountability to shareholders for financial performance
• Establishment of a risk management framework for the management of the Company
• Establishment of appropriate ethical standards
• Establishment of the strategic direction of the business and goals for management
• Review and approval of strategic plans and annual budgets from management
• Monitoring the achievement of performance milestones
• Statutory and legal obligations

The Board meets monthly to discuss the Company's performance, and may meet at other times to deal with urgent matters. Shareholder Newsletters are prepared regularly to ensure that shareholders are aware of the progress of the company.