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SLT statement on media coverage of Board changes

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The Board of Directors (“Board”) of Sri Lanka Telecom PLC (“SLT”) refer to the recent media coverage of Boardroom changes at SLT.

This note is to provide factual information and clarity on the corporate identity of SLT, the role, responsibilities, authority and accountability of management and the Board (including the Chairman of the Board), and in particular the separation of powers between the Board and Management. All of the information in this note is already available in public sources.

SLT was incorporated under the then Companies Act No. 17 of 1982 (now superseded by the Companies Act No.7 of 2007). SLT is listed and quoted on the Colombo Stock Exchange (“CSE”) and is governed via the tenets of SLT’s Articles of Association (“Articles of Association”). The Government of Sri Lanka and Global Telecommunications Holdings (“GTH”) have a 49.5% and 44.98% equity interest in SLT. SLT has about 13700 other shareholders. As disclosed in the Annual Report, GTH is wholly owned by Usaha Tegas Sdn Bhd, which is incorporated in Malaysia. SLT is therefore not a state-owned corporation nor a government organization as opposed to government corporations established under separate enactments.

As a listed company, SLT complies with the CSE Continuing Obligations and the Code of Best Practice on Corporate Governance (“CG Code”). A copy of the Articles of Association is available for review at its registered office and the websites of SLT and CSE.

The Board plays a stewardship role in accordance with the CG Code which provides details on the role, responsibilities and authority of the Board and Management.

The Board, including the Chairman, is non-executive. This means that no director, including the Chairman of the Board, has the authority to make individual decisions or give individual instructions to members of management or staff. Board decisions and instructions are made and conveyed by formal, minutes and collective Board decisions.

The position of the Chairman at SLT is not to be confused with that of Executive Chairman in other public companies or State-Owned Corporations. The Chairman of the SLT Board has the primary role to chair board meetings and facilitate and ensure the workings of the Board. The Chairman is appointed by the Board in accordance with the Articles of Association.

All Directors, including the Chairman are non-Executive and are not employees of SLT. Their role is not full time. They are therefore not entitled to a salary nor benefits that accrue to employees. All Directors in SLT, including the Chairman, do receive fees for the discharge of their fiduciary duties.

SLT is led by a Chief Executive Officer (“CEO”) who is appointed by the Board. It is the CEO and the management team that operate the business and make the executive decisions within the powers provided to them by the Articles of Association. The CEO is an employee and is paid a salary.

The separation of powers, that the Board undertakes the oversight role and the management the executive role, ensures clear delineation of roles, responsibilities, authority and most importantly, accountability.

Compliance with related party transactions and its related disclosures in accordance with Sri Lanka Financial Reporting Standards 24 are monitored by the Related Party Transactions (“RPT”) Committee of the Board. The Board wishes to confirm that the present Chairman has not only disclosed his related party interests but that he has in fact made disclosures over and above regulatory requirements. The Board has robust controls in place to ensure that if a director does not disclose related party interests or interferes in areas where there is conflict, the Board will take the necessary action in accordance with the law and regulations.

The Board does hope that this statement provides clarity for the informed stakeholder. We humbly request that aggrieved and interested parties that have concerns regarding the governance of SLT address the appropriate forum of the regulatory authorities or the courts of law. The Board will not want to enter into the bowels of public debate and correct each and every uninformed, misguided, erroneous or unwarranted statement.



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Sri Lanka betting its tourism future on cold, hard numbers

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“From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility holds its panel discussion

National Airport Exit Survey tells quite a story

Australia’s role here is strategic, not charitable

In a quiet but significant shift, Sri Lanka’s tourism sector is moving beyond traditional destination marketing and instinct-based planning. The recent launch of the “From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility and the Sri Lanka Tourism Development Authority, sent an unambiguous message: sentiment is out, statistics are in.

The initiative is anchored by a 12-month National Airport Exit Survey, a trove of data covering 16,000 travellers. The findings sketch a new traveller profile: nearly half are young (20–35), independent, and book online. Galle, Ella, and Sigiriya are the hotspots; women travellers outnumber men; and a promising 45% plan to return. This isn’t just trivia. It’s a strategic blueprint. If Sri Lanka Tourism listens, it can tailor everything from infrastructure to marketing, moving from guesswork to precision.

Tourists have a real sense of achievement after hiking the trail to Ella Rock

The keynote speaker, Deputy Minister Prof. Ruwan Ranasinghe called data “a vital pillar of tourism transformation.” Yet the unspoken truth is that Sri Lanka has long relied on generic appeals -beaches, heritage, smiles. In today’s crowded market, that’s no longer enough. As SLTDA Chairman Buddhika Hewawasam noted, this partnership is about “elevating how we collect, analyse, and use data.”

Australia’s role here is strategic, not charitable. By funding research and advocating for a Tourism Satellite Account, it is helping Sri Lanka build a tourism sector that is both sustainable and measurable. Australian High Commissioner Matthew Duckworth linked this support to “global standards of environmental protection” – a clear nod to the growing demand for green travel. This isn’t just aid; it’s influence through insight.

“The real test lies ahead,” a tourism expert told The Island. “Data is only as good as the decisions it drives. Will these insights overcome bureaucratic inertia? Will marketing budgets actually follow the evidence toward younger, independent, female travellers?,” he asked.

“The comprehensive report promised for early 2026 must move swiftly from recommendation to action. In an era where destinations are discovered on Instagram and planned with algorithms, intuition alone is a high-stakes gamble. This forum made one thing clear: Sri Lanka is finally building its future on what visitors actually do – not just what we hope they’ll do. The numbers are in. Now, the industry must dare to follow them,” he said.

By Sanath Nanayakkare

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New ATA Chair champions Asia’s small tea farmers, unveils ambitious agenda

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New Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola

In his inaugural address as the new Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola placed the region’s millions of smallholders at the core of the global tea industry’s future, asserting they are the “indispensable engine” of a sector that produces over 90% of the world’s tea.

Udugampola, who is also Chairman of Sri Lanka’s Tea Smallholdings Development Authority, used his speech at the 6th ATA Summit held in Colombo on Nov. 27 to declare that the prosperity of Asian tea is “entirely contingent” on the resilience of its small-scale farmers, who have historically been overlooked by premium global markets.

“In Sri Lanka, smallholders account for over 75% of our national production. Across Asia, millions of families maintain the quality and character of our regional teas,” he stated, accepting the chairmanship for the 2025-2027 term.

To empower this vital community, Udugampola unveiled a vision focused on Sustainability, Equity, and Digital Transformation. The strategic agenda includes:

Climate Resilience: Promoting climate-smart agriculture and regenerative farming to protect smallholdings from environmental disruption.

Digital Equity: Leveraging technology like blockchain to create farm-to-cup traceability, connecting smallholders directly with premium consumers and ensuring fair value.

Market Expansion: Driving innovation in tea products and marketing to attract younger consumers and enter non-traditional markets.

Standard Harmonization: Establishing common regional quality and sustainability standards to protect the “Asian Tea” brand and push for stable, fair pricing.

Linking the alliance’s goals to national ambition, Udugampola highlighted Sri Lanka’s target of producing 400 million kilograms of tea by 2030. He presented the country’s “Pivithuru Tea Initiative” as a model for other ATA nations, designed to achieve this through smallholder empowerment, digitalization, and aligned policy objectives.

By Sanath Nanayakkare

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Brandix recognised as Green Brand of Year at SLIM Awards 2025

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Brandix has championed best practices in the sphere of sustainable manufacturing over the years

Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.

The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.

A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources.

Head of ESG at Brandix, Nirmal Perera, said: “Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability.”

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