Governance

How we do our work at Cenovus is as important as what we do. We recognize that to deliver consistent, long-term shareholder value we must operate in a responsible manner that maintains and enhances our reputation. Driving these behaviors requires good governance.

Our Board of Directors oversees the management of Cenovus’s business through a robust system of corporate governance and internal controls. The Board and its committees monitor Canadian and U.S. regulatory developments affecting corporate governance, accountability and transparency of public corporation disclosure to ensure compliance with the law and protect the interests of shareholders. This includes a comprehensive set of policies and practices that guide the expected behavior of our staff, management and Board. Our directors, management and employees are annually required to review and commit to our Sustainability Policy, Code of Business Conduct & Ethics and a number of other key policies and standards. We also expect our service providers and suppliers to be familiar with and uphold the company’s corporate values and practices.

Our governance structure also includes frameworks, such as our Enterprise Risk Management (ERM) Policy and the Cenovus Operations Integrity Management System (COIMS), that help ensure we are properly addressing risk in our business and embedding corporate responsibility in our work.

In addition, Cenovus has a number of channels available to report ethical, financial or workplace concerns. This includes an internal Investigations Committee as well as a confidential third-party operated Integrity Helpline. Stakeholders, including local community residents and other members of the public, and our employees and contractors are encouraged to report any business conduct concerns through the Integrity Helpline.