IAS 24 provides guidance on related party disclosures. It defines related parties as entities or individuals that have control, joint control, or significant influence over another party. It requires disclosure of related party transactions, including the nature of the relationship, transaction details such as amounts, terms, and any security or settlement details. Key management compensation must also be disclosed, including short-term benefits, post-employment benefits, and share-based payments. The purpose is to transparently disclose the effect of related party relationships on a company's financial statements.

1. IAS 24 RELATED PARTY TRANSACTIONS 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

2. SCOPE 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

3. Definitions Related Party: one party is directly or indirectly under control, joint control or significant influence of another 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

4. Definitions Close members of family: influence or influenced by shareholder 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

5. Definitions Compen-sation: Employee Benefits IAS 19 and Share-based payment IFRS2; conside-ration for services rendered Short term employee benefits Wages, salary & bonuses Social security contributions Paid annual and sick leave (< 12 months) Non-monetary benefits (medical, housing, cars, goods) Post-employment benefits Pensions, life insurance & medical Termination benefits Long-term benefits Long service leave, disability benefits Profit share, bonus, deferred compensation > 12 months Share-based payment 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

6. Other definitions Related party transaction: transfer resources, services and obligations Control: power to govern financial and operating policies to obtain benefits Joint control: contractually agreed sharing of control over economic activity Key management personnel: authority and responsibility for planning, directing and controlling activities and directors Significant influence: power to participate in financial and operating policies via share ownership, statute or agreement 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

7. Excluded from definition of related party 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS Substance over legal form Two entities that share a director of member of key management personnel Two entities that share control over a joint venture Providers of finance Trade unions Public entities Government Economically dependent entities (agent, franchisor, customer, distributor)

8. Disclosures 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS Name of the parent or ultimate controlling party Most senior parent that produces consolidated financial statements available for public use IAS 27, IAS 28 & IAS 31: listing and description of significant investments in subsidiaries, associates and jointly controlled entities Key management personnel compensation Total Short-term employee benefits Post-employment benefits Other long-term benefits Termination benefits Share-based payment

9. Disclosure 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS Effect of a related party relationship on the FS Nature of relationship Information about transactions Amount Outstanding balances Terms and conditions Security Nature of settlement Balances included in provision for doubtful debts Balances included in bad debt expense

10. Disclosure 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS Separate disclosure for categories: Transactions with parent Transactions with venturerwith joint control or investor with significant influence Subsidiaries Associates Key management of entity and its parents Other related parties

12. How much detail? 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS

13. Summary 9/18/2009 IAS 24 RELATED PARTY TRANSACTIONS Related party transactions should be disclosed in each separate set of financial statements of related parties Related parties have control or significant influence over each other, including entities and individuals who control them Disclose all significant transactions with group entities, investors, investees and key management personnel Disclose in sufficient detail to understand effect on performance and position of the entity Minimum disclosures set out in IAS 24 for each type of related party