The document provides a corporate governance rating for Reliance Industries Limited (RIL) across several parameters. It finds that RIL's capability is very high for equitable treatment of shareholders, ownership rights of shareholders, transparency and disclosure, composition of the board, management assessment, and value creation for stakeholders. It rates RIL's capability as high for the functioning of the board. The overall corporate governance rating for RIL is very high.

1. Corporate Governance Rating – RELIANCE INDUSTRIES LIMITED Submitted to : Prof. Gloryson R.B. Chalil Submitted by : Section A (GMP XLRI) Gouri Khinvasra : G08016 Munish Kaushal : G08022 Sairam Iyer : G08034 Sunil Bansal : G08044 (Strictly for academic purpose only)

3. GMP XLRI Parameter 1 : Equitable treatment of Shareholders

8. Equitable Treatment of Shareholders Corporate Governance Rating Parameter Rating Capability Ownership Structure Level 3 High Presence of concentrated shareholding Level 4 Above Average Systems in place to detect and prevent insider trading Level 2 Very High Extent of disclosure of shareholding pattern Level 2 Very High Presence of any disproportionate control provision Level 2 Very High PARAMETER RATING (Average) Level 3 High

9. GMP XLRI Parameter 2 : Ownership Rights of Shareholders

11. Ownership Rights of Shareholders Corporate Governance Rating Parameter Rating Capability Compliance with law Level 2 Very High Beyond laws and regulations Level 2 Very High Voting Rights Level 2 Very High Presence of anti takeover provisions Level 2 Very High Preferential rights for any shareholders Level 2 Very High PARAMETER RATING (Average) Level 2 Very High

12. GMP XLRI Parameter 3 : Composition of the Board

13. Composition of Board GMP XLRI Category No. of Directors Percentage of total No. of Directors Executive Directors 4 33.33 Non Executive Independent Directors 0 - Non Executive Non Independent Directors 1 8.33 Other Non Executive Directors 7 58.33 Total 12 100

15. Composition of Board Corporate Governance Rating Parameter Rating Capability Compliance with the law Level 2 Very High Disclosure and Insider Trading awareness Level 2 Very High Factors affecting judgement of independent directors being tackled Level 2 Very High PARAMETER RATING (Average) Level 2 Very High

16. GMP XLRI Parameter 4 : Functioning of the Board

18. Functioning of Board Corporate Governance Rating Parameter Rating Capability Restriction to be elected and tenure Level 4 Above Average Retirement policy and rotation Level 2 Very High Meetings and Quorum Level 2 Very High PARAMETER RATING (Average) Level 3 High

19. GMP XLRI Parameter 6 : Management Assessment

24. Management Assessment Corporate Governance Rating Parameter Rating Capability Reputation of Mgmt Level 2 Very high Success of Past Strategy Level 3 High Management Proactiveness Level 2 Very High Integrity and Risk Appetite Level 2 Very High PARAMETER RATING (Average) Level 2 Very High

25. GMP XLRI Parameter 7 : Value Creation for Stakeholders

31. Management Assessment Corporate Governance Rating Parameter Rating Capability Shareholder Level 2 Very high Debt Holder Level 3 High Customer Level 2 Very High Employee Level 3 High Society Level 1 Highest PARAMETER RATING (Average) Level 2 Very High

32. GMP XLRI Overall Rating - RELIANCE INDUSTRIES LIMITED

33. Corporate Governance Rating Parameter Rating Capability Equitable treatment of Shareholders Ownership rights of shareholders Transparency and Disclosure Composition of Board Functioning of Board Management Assessment Level 2 Very High Value creation for stakeholders Level 2 Very High OVERALL RATING (Average)