The Company has a clear corporate structure which includes the following governing bodies: General Assembly, Supervisory Board led by Chairman with its corresponding delegate committees and the Management Board led by President of the Management Board. The specific governance authorities and responsibilities are regulated by the applicable Croatian legislation, Company's Articles of Association and corporate governance code. In 2019, the Company has applied the Corporate Governance Code of the Zagreb Stock Exchange (the Old Code). The Company complied with the recommendations of the Old Code based on the principle comply or explain”. The Company abides by this principle and, where relevant, provides reasons for non-compliance with the recommendations of the Old Code. The Company will publish its annual corporate governance questionnaire for 2019 in which it will provide explanations on situations in which it does not comply with the new Corporate Governance Code on ZSE by 30 June 2020, as requested by the new Corporate Governance Code and the Rules of the ZSE (the ZSE Rules). The Company will also, on the same “comply or explain basis” from 1 January 2020 onwards apply the new Corporate Governance Code (the New Code) as adopted by the Croatian Financial Services Supervisory Agency and the Zagreb Stock Exchange (the ZSE) in October 2019.