Integrated Approach to ESG Governance

Guided by accountability, integrity and transparency, Reliance’s governance framework provides strategic direction, strengthens corporate citizenship and supports the effective management of ESG priorities. Effective Board oversight, strong leadership and clear policy mechanisms enable responsible decision-making in a dynamic business environment, creating value for stakeholders, society and the planet.

Board Governance

A diverse and accomplished 14-member Board anchors Reliance’s governance framework. The collective industry experience, skills and strategic insight of the Board members enable effective governance and sound decision-making.

Read more of the Report for information on the Board composition and diversity

Board Oversight

Reliance has reinforced its ESG governance through a transparent and accountable framework supported by dedicated Board committees, each focusing on specific ESG aspects. The committees include ESG Committee, Audit Committee, Corporate Social Responsibility and Governance Committee, Finance Committee, Human Resources, Nomination & Remuneration Committee, Stakeholders Relationship Committee and Risk Management Committee.

Sustainability Governance Framework

Reliance’s Board of Directors provides strategic oversight for the Company’s approach to ESG matters, including climate change. Their governance framework enables structured decisionmaking and supports the development and implementation of the Company’s broader sustainability agenda.

Environmental, Social and Governance Committee

Reliance’s ESG Committee plays a central role in advancing the Company’s sustainability agenda. The Committee oversees ESG goal-setting, performance review, stakeholder engagement and the assessment of material ESG risks and opportunities, while providing strategic oversight on key sustainability issues, including climate change. Comprising two Executive Directors and one Independent Director, the ESG Committee periodically reviews progress on ESG actions and reports key updates to the Board of Directors. In coordination with other Board Committees, the Committee monitors ESG-related risks, supports mitigation planning and provides guidance on global sustainability practices. In line with its Terms of Reference, the ESG Committee focused on areas of strategic and operational importance for Reliance in FY 2025-26, including safety and operational risk, use of AI to mitigate risks and improve risk control, environmental performance, climate change and overall sustainability.

For more details on the Committee’s Terms of Reference, please refer to
https://www.ril.com/about/board-committees

For information on the Committee’s composition and meetings, Read more of the Report

Policies and Code

Reliance’s commitment to its stakeholders is underpinned by a robust policy framework and a comprehensive Code of Conduct that guides ethical and compliant business practices. Applicable to Directors and employees across the organisation, the Code reflects Reliance’s core values of Customer Value, Ownership Mindset, Respect, Integrity, One Team and Excellence and supports consistent, values-based decision-making. All employees including senior management and Directors reaffirm their adherence to these principles on an annual basis.

Read RIL’s ESG policies here: https://www.ril.com/investors/ shareholders-information/policies

Anti-competitive Behaviour

Reliance believes in healthy competition through high-quality products and services, competitive pricing and a strong commitment to sustainability. The Company conducts interactions with competitors in a fair and ethical manner and obtains competitive information solely through transparent and lawful sources. Reliance ensures that all employees understand and comply with applicable competition law principles. No instances of unfair trade practices or anti-competitive behaviour were recorded during FY 2025-26.

Stakeholder Engagement

Reliance engages with its stakeholders through open, transparent and structured engagement channels to understand their priorities, seek meaningful inputs and address concerns. These interactions inform the Company’s decision-making, strengthen trust and enable long-term value creation.

Managing the Material Topics

Reliance determines its material ESG topics through structured and ongoing stakeholder engagement, enabling a clear understanding of key priorities and concerns. These insights help determine the ESG issues most relevant to the Company and its stakeholders, informing impact, risk and opportunity assessments and supporting effective management of evolving ESG priorities.

Approach to Materiality

Reliance reviews its material ESG topics on a periodic basis through structured stakeholder engagement and formal materiality assessments. A comprehensive assessment was undertaken, incorporating perspectives from internal and external stakeholders to identify priority issues. The outcomes were reviewed and approved by the Executive Board to ensure alignment with the Company’s strategic objectives. The assessment was carried out using a double materiality lens, evaluating both the impact of ESG factors on the business and the Company’s impact on the environment and society.

More details about the double materiality approach and prioritisation of material topics can be found on Read more of the Integrated Annual Report 2022-23.