AUDIT AND RISK MANAGEMENT COMMITTEE (ARMC)

The Audit and Risk Management Committee Audit (ARMC) assists the Board in fulfilling its responsibility to the Shareholders relating to the annual independent audit of O&E’s financial statements and reporting process, internal control systems, internal audit function, legal compliance and ethics as established by the Board. The ARMC reviews changes to the accounting policies, if any, and evaluates its impact on the Company’s financial position. It reviews the unaudited financial statements and related party transactions on a quarterly basis as well as the audited financial statements for the year end and recommends for Board approval.