The New Energy and Innovation Committee (the “Committee”) of the Board of Directors (the “Board”) of SLB Limited (“SLB”) shall consist of at least three directors. The members of the Committee and its Chair shall be appointed by the Board upon the recommendation of the Nominating and Governance Committee and may be removed by the Board at its discretion.
The Committee’s Purpose
The purpose of the Committee is to act in an advisory role to assist management with the development and implementation of SLB's strategy related to New Energy and Innovation, and to assist the Board with review of management’s implementation of the Company’s strategy, by evaluating issues that impact the strategic direction of the Company.
Committee Authority and Responsibilities
The authority and responsibilities of the Committee are to:
- identify and evaluate compelling sectors for potential growth and advise on maturity and future viability of those sectors.
- identify and evaluate global macroeconomic and geopolitical trends and regulatory environments that could influence the viability of certain growth sectors.
- evaluate the scope and focus of SLB's current research and development and early-stage investment programs and their alignment with growth areas.
- identify and evaluate the viability of enabling technologies that could accelerate the introduction of new technologies.
- evaluate the sustainability impacts of growth opportunities.
Committee Meetings, Support, Outside Advisors, Delegation and Evaluation
- The Committee shall meet at least twice a year, or more often as circumstances require, keep minutes of its proceedings, and report regularly to the Board.
- The Committee may invite to its meetings any director, officer of SLB, or such other person as it deems appropriate to assist it in performing its responsibilities.
- The Committee has the authority, in its sole discretion, to retain and terminate (or obtain the advice of) independent financial, sustainability, or other consultants to assist it in its responsibilities, and to approve related fees and other retention provisions.
- The Committee may delegate specific responsibilities to one or more individual Committee members to the extent permitted by law, regulation, and the governing documents of SLB.
- The Committee shall conduct and present to the Board an annual performance evaluation of the Committee. The Committee shall review annually the adequacy of this charter and recommend any changes that it deems appropriate to the Board for approval.
Approved by the Board of Directors: October 20, 2022