CORPORATE GOVERNANCE STATEMENT

PRINCIPLES OF GOOD CORPORATE GOVERNANCE AND BEST PRACTICE RECOMMENDATIONS

Introduction

On 31 March 2003, the Australian Stock Exchange (ASX) Corporate Governance Council (CGC) issued “Principles of Good Corporate Governance and Best Practice Recommendations” effective for the first reporting period commencing after 1 January 2003. The CGC’s guidance on Corporate Governance incorporates 10 core principles which are fundamental to a best practice system. The principles list best practice recommendations and a guide to reporting for each core principle. Implementation of the CGC’s recommendations is not mandatory.

The CGC’s best practice recommendations are not intended to be a compliance based approach to corporate governance. The overriding imperative is that the spirit of the CGC’s corporate governance principles be complied with. There is no ‘one size fits all’ approach to corporate governance. For small cap companies, there may be cost factors that prevent the immediate implementation of all recommendations. In this instance the ASX suggests that a company prioritise the guidelines and publish a timetable for implementation.

Companies are required to report their corporate governance practices by reference to the principles and best practice recommendations. Further, the ASX requires that if an entity has not followed all recommendations of the CGC for the entire reporting period the company must identify the specific recommendations that have not been followed and disclose the reason why.

Companies are also required to make more general corporate governance information available on an ongoing basis. The preference of the CGC is that this information is detailed in a dedicated Corporate Governance section on a company website.

The Board of Directors of destra Corporation Limited, (“destra”), are responsible for the corporate governance of the consolidated entity. The Board guides and monitors the business and affairs of destra on behalf of the shareholders by whom they are elected and to whom they are accountable.

The Board seeks to identify the expectations of the shareholders, as well as other regulatory and ethical expectations and obligations. In addition, the board is responsible for identifying areas of significant business risk and ensuring arrangements are in place to adequately manage those risks.

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