Tourmaline’s Board of Directors is committed to playing an active role in supporting the realization of the Company’s strategy through upholding the highest standards of corporate governance and fulfilling its duties of stewardship and accountability.

The oversight role of Tourmaline’s Board of Directors encompasses strategic planning processes, risk management, communication with investors and other stakeholders, and standards of business conduct. The Board is also responsible for selecting, monitoring and evaluating executive leadership and aligning management’s decision-making with long-term shareholder interest.

Tourmaline’s Board of Directors consists of 10 directors, 8 of whom are independent. The role of Lead Director is assumed by an independent director and is separate from the role of chief executive officer. All Board committees are comprised entirely of independent directors.

Ethical business practices are fundamental to Tourmaline’s business. We believe each employee and contractor is responsible for ensuring Tourmaline conducts business in a safe, fair, respectful and lawful manner.

Tourmaline’s Code of Business Conduct and Ethics is an important part of this commitment. It requires all Tourmaline employees, contract staff and directors to familiarize themselves annually with the company’s Code of Business Conduct and Ethics and affirm they have complied with those policies during the preceding calendar year.