Laing

The Board of John Laing believes that there should be effective and constructive challenge in UK boardrooms to ensure that good and transparent decisions are made following considered debate and that the disclosures made by the Company to its stakeholders, governing bodies and to the market generally concerning its internal operation are, where commercially practicable, full and clear. In order to help achieve this the Company has published below the terms of reference by which the Board of John Laing plc and its sub-committees will operate. These documents have been prepared taking into account the recommendations and obligations set out in the following publications:

• The Listing Rules of the UK Stock Exchange
• The Disclosure and Transparency Rules on Audit Committees and corporate governance statements
• The 2008 Combined Code
• The revised version of the Turnbull Guidance on Internal Control
• The 2008 version of the Guidance on Audit Committees

Matters reserved for the approval of the Board

Audit committee

Finance committee

Investment committee

Nominations committee

Remuneration committee