Corporate Governance

MPAC GROUP PLC (“Mpac” or the “Company”)

To view Mpac Group plc’s Application of the QCA Corporate Governance Code document please click here.

Chairman’s Corporate Governance Statement 2019

(The information in this statement was last reviewed on 30 May 2020)

Introduction

This Statement is issued in compliance with Rule 26 of the AIM Rules. Mpac Group plc is incorporated in England and Wales and its shares are listed on the AIM market of the London Stock Exchange (“AIM”).

The Principles of Corporate Governance

As Chairman, I am responsible for leading the Board and upholding high standards of corporate governance throughout the Group and particularly at Board level. It therefore gives me pleasure to introduce our governance statement.

The Company is listed on AIM and since September 2018 has been required to provide a statement of its compliance with a recognised corporate governance code. My colleagues share the view that sound governance is fundamental to the successful growth of the business. After the Company’s admission to AIM in 2014, the Board continued to follow the principles of the UK Corporate Governance Code, as appropriate to the size and nature of the Group. Following a review earlier in the year, the Board has decided to apply the QCA Corporate Governance Code, an updated version of which was published in April 2018 (the ‘QCA Code’).

THE QCA’S TEN PRINCIPLES OF CORPORATE GOVERNANCE

The Board believes that it applies the ten principles of the New QCA Code but recognises the need to continue to develop governance practices and disclosures in some areas in order to ensure we continue to apply the principles going forward. The policies, procedures and relevant systems we have implemented to date have given us a firm foundation for our governance structure, which is described on page 22 of the 2019 Annual Report. The Board regularly reviews the structure to ensure that it develops in line with the growth and strategic plans of the Group.

Andrew Kitchingman

Chairman

Mpac Group plc

3 March 2020