SHAPING

YOUR FUTURE

LAUGFS POWER PLC | ANNUAL REPORT 2021/22

At LAUGFS Power, we have been on a steady journey shaping the

future of our nation with sustainable solutions that promise a greener tomorrow. Today, we are a leading contender in Sri Lanka's renewable power sector, with seven power plants located across Sri Lanka. We have further broadened our horizon to explore other energy sources such as Wind Power, fuelling our growth aspirations in alignment with the country's clean energy agenda.

During the year under review, we continued with our efforts to

diversify our portfolio, in a bid to support the socioeconomic progress of the country. Moving ahead, we aim to steadily expand our footprint locally and internationally to satisfy the growing demand for energy with sustainable solutions that are better and safer for the planet.

At LAUGFS Power, we are actively shaping your future.

CONTENTS

About us 4

Performance Highlights 7

Chairman's Message 8

Deputy Chairman's Message 10

Group Managing Director/Group Chief Executive

 Officer's Message 12

Board of Directors 14

Management Discussion and Analysis 18 Operating Environment 22 Corporate Governance Check list 25 Risk Management 27

Annual Report of the Board of Directors on the Affairs of  the Company 31

Statement of Directors' Responsibilities 35 Audit Committee Report 36

Report of The Related Party Transactions Review Committee 38 Remuneration Committee 40

FINANCIAL INFORMATION

Independent Auditors' Report 42

Statement of Profit or Loss 45

Statement of Comprehensive Income 46

Statement of Financial Position 47

Statement of Changes in Equity 48

Statement of Cash Flows 49

Notes to the Financial Statements 50

Share Information 97

Real Estate Portfolio 102

Five Year Summary - Group 103

Notice of Meeting 104

Form of Proxy Voting 105

Form of Proxy Non-Voting 107

Corporate Information 108

2 LAUGFS POWER PLC

VISION

TO BE THE MOST PREFERRED AND TRUSTED SRI LANKAN CONGLOMERATE THAT TOUCHES THE DAY-TO-DAY LIVES OF PEOPLE IN SRI LANKA AND BEYOND, THROUGH A DIVERSE RANGE OF BUSINESSES THAT EXTENDS ACROSS TRANSNATIONAL BORDERS.

MISSION

BE THE LEADER IN THE MARKET SEGMENTS WE OPERATE IN.

INTRODUCE LATEST INNOVATIONS, TECHNOLOGY AND SOLUTIONS TO ADD VALUE TO THE CONSUMER.

PROMOTE A SAFETY CULTURE, ENCOMPASSING PEOPLE, PRODUCTS AND PROCESSES.

ENSURE FAIR RETURNS TO ALL OUR STAKEHOLDERS.

LEAD BY EXAMPLE AS A RESPONSIBLE CORPORATE ENTITY.

FOSTER A CULTURE OF ONE 'LAUGFS FAMILY'.

Annual Report 2021/22

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Laugfs Power Ltd. published this content on 05 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 08:19:03 UTC.