Renegade Exploration : Corporate Governance Statement

Renegade Exploration Limited

ABN 92 114 187 978

CORPORATE GOVERNANCE STATEMENT

Renegade Exploration Limited

Corporate Governance Statement

(current as at 29 September 2020)

The Board of Directors are responsible for the overall strategy, governance and performance of Renegade Exploration Limited (the Company). The Board has adopted a corporate governance framework which it considers to be suitable given the size, nature of operations and strategy of the Company.

To the extent that they are applicable, and given its circumstances, the Company adopts the eight essential Corporate Governance Principles and Best Practice Recommendations ('Recommendations') published by the Corporate Governance Council of the ASX. Where the Company's corporate governance practices follow a recommendation, the Board has made appropriate statements reporting on the adoption of the recommendation. Where, after due consideration, the Company's corporate governance practices depart from a recommendation, the Board has offered full disclosure and reason for the adoption of its own practice, in compliance with the "if not, why not" regime.

As the Company's activities develop in size, nature and scope, the implementation of additional corporate governance structures will be afforded further consideration.

	Corporate Governance Council Recommendation		Comply		Explanation
		(Yes / No)
			PRINCIPLE 1: Lay solid foundation for management and oversight
1.1		A listed entity should disclose;	Yes		The Board has adopted a formal Board Charter which sets out the respective roles and responsibilities of
			(a) the respective roles and responsibilities of its board and management; and			the Board and management and those matters expressly reserved to the Board and those delegated to
			(b) those matters expressly reserved for the board and those delegated to			management.
					The Board is responsible for the general supervision of the management of the Company's business and
			management.
							affairs with the objective of enhancing shareholder value. The Board fulfills its mandate at regularly
							scheduled meetings or as required. Frequency of meetings may be increased and the nature of the agenda
							items may be changed depending upon the state of the Company's affairs and in light of opportunities or
							risks which the Company faces. The directors are kept informed of the Company's operations at these
							meetings as well as through reports and discussions with management on matters within their particular
							areas of expertise.
							The Board is responsible for approving long-term strategic plans and annual operating plans and budgets
							recommended by management. The Board delegates to management responsibility for implementation of
							these objectives and for the day-to-day operations of the Company, including, managing the Company's
							operations and cash flow, evaluating new business opportunities, recruiting staff and complying with
							applicable regulatory requirements.
							The Board Charter is available on Renegade's website at www.renegadeexploration.com

1.2	A listed entity should:	Yes	Prior to the putting forward of a candidate for election as a director by shareholders, as a minimum
	(a) undertake appropriate checks before appointing a person, or putting forward		requirement, Renegade makes inquiries as to the person's character, experience and education.
	to security holders a candidate for election, as a director;		Criteria considered when appointing a new director include:
	and		•	quality of the individual;
	(b) provide security holders with all material information in its possession		•	background of experience and achievements to date;
	relevant to a decision on whether or not to elect or re-elect a director.		•	compatibility with other board members;
			•	compatibility with the Company's business activities; and
			•	ability to contribute.
			All material information relevant to whether or not to elect or re-elect a director is provided to the Company's
			shareholders as part of the Notice of Meeting and Explanatory Statement for each annual general meeting
			of the Company.
1.3	A listed entity should have a written agreement with each director and senior	Yes	Non-Executive Directors are required to sign a letter of appointment.
	executive setting out the terms of their appointment.		Executive Directors are required to enter into service agreements or consulting agreements and other
			senior executives are required to enter into employment or consulting agreements setting out the terms of
			their appointment.
1.4	The Company Secretary of a listed entity should be accountable directly to the	Yes	The appointment of the Company Secretary is approved by resolution of the Board. The Company
	Board, through the Chair, on all matters to do with the proper functioning of the		Secretary is accountable to the Board, through the Chairman, and is responsible for supporting the proper
	board.		functioning of the Board which includes, but is not limited to, providing advice on governance and
			procedural issues, and the preparation of Board papers and minutes, attendance at Board meetings and
			maintaining policies and procedures.

1.5	A listed entity should:	No	Explanation for Departure
	(a) have a diversity policy which includes requirements for the board or a		The Company has not yet established a formal policy on diversity and has not established or reported
	relevant committee of the board to set measurable objectives for		measurable objectives for achieving gender diversity.
	achieving gender diversity and to assess annually both the objectives and		The Company makes its appointment decisions based on merit, by assessing whether a person's skills
	the entity's progress in achieving them;		and experience are appropriate for particular roles. It does not discriminate based on gender, age, ethnicity
	(b) disclose that policy or a summary of it; and		or cultural background.
	(c) disclose as at the end of each reporting period the measurable objectives		Given the Company's size and stage of development, it does not believe that a formal diversity policy will
	for achieving gender diversity set by the board or a relevant committee of		provide any measurable benefit to the Company that is not already provided by its existing practices in this
	the board in accordance with the entity's diversity policy and its progress		area. However, as the Company's operations develop, it will consider the adoption of a formal diversity
	towards achieving them, and either:		policy and the setting of measurable objectives for achieving gender diversity.
	(i) the respective proportions of men and women on the board, in senior		The Company provides the following information regarding gender diversity as at 29 September 2020:
	executive positions and across the whole organisation (including how		Category	Proportion of females
	the entity has defined "senior executive" for these purposes); or		Whole organisation	Nil
	(ii) if the entity is a "relevant employer" under the Workplace Gender
		Senior Executives	Nil
	Equality Act, the entity's most recent "Gender Equality Indicators", as
		Board	Nil
	defined in and published under that Act.
1.6	A listed entity should:	Yes	The Board assesses, from time to time, the effectiveness of the Board as a whole and the contribution of
	(a) have and disclose a process for periodically evaluating the performance		individual directors, including considering the appropriate size of the Board. Given the size of the Company
	of the board, its committees and individual directors; and		and the management team, this process is managed informally by Directors.
	(b) disclose, in relation to each reporting period, whether a performance
	evaluation was undertaken in the reporting period in accordance with that
	process.
1.7	A listed entity should:	Yes	During the reporting period performance reviews of senior executives were carried out on an informal basis.
	(a) have and disclose a process for periodically evaluating the performance of		As the activities of the Company develop, it will consider the establishment of more formal evaluation
	its senior executives; and		procedures, including quantitative measures of performance.
	(b) disclose, in relation to each reporting period, whether a performance
	evaluation was undertaken in the reporting period in accordance with that
	process.