The BoC has carried out duties, responsibilities, and authorities in accordance with the BoC Charter. BoC Charter is a Company document incorporated to manifest the BoC’s commitment and to serve as the BoC’s guidelines for applying the GCG. The guidelines are in-line with the Company’s Articles of Association, the GCG principles, as well as all applicable rules and regulations.

The composition and number of the BoC members are determined by the General Meeting of Shareholders (GMS) by considering the Company’s condition and the diversity of BoC members’ skills, knowledge, and experience. The recommendations or proposals for the appointment and/or replacement of BoC members to GMS shall be made by MC’s Nomination and Remuneration function, whose roles are carried out by the BoC.

The BoC of MC consists of 3 (three) members. The composition of the BoC is in accordance with the Articles of Association, Financial Services Authority Regulation Number 33/POJK.04/2014 of 2014 on Board of Directors and Board of Commissioners of Issuers or Public Companies (POJK 33/2014), as well as the BoC Charter, which stipulates that at least 30% of the members of the BoC are Independent Commissioners.

In accordance with POJK 33/2014, Independent Commissioners must meet the following requirements:

1. Not a person working or having authority and responsibility to plan, lead, control, or supervise the company’s activities within the last 6 (six) months, except for the reappointment as the company’s independent commissioner for the next term of office;

2. Not holding the company’s shares directly or indirectly;

3. Not having an affiliation relationship with any member of the BoC, BoD and major shareholders of the company; and

4. Not having any business relationship with the company directly or indirectly.

Currently, none of MC's BoC members hold a position as director or commissioner in more than two other public companies. This practice complies with the provision of POJK 33/2014 and BoC Charter.