Corporate Governance

Insig AI’s business model is designed to promote long-term value for customers, shareholders and other stakeholders. Its business strategy is the development of Artificial Learning (AL) and Machine Learning (ML) SaaS products and services to enable asset managers, regulatory bodies and other customers to optimise their investment decisions and business performance and scrutinise information provided through the use of enhanced technologies and data science techniques.

The Company has developed a suite of products to support client needs as they transition to a data-centric enabled business model and advance and scale their analytical capabilities driving value, speed and strategic leverage.

The Board and executive management are committed to maintaining the highest standards of integrity in their conduct. Culture is key to successfully implementing the Company’s strategy and achieving its objectives.

The executive management consistently reviews its employee training and communication practices to ensure these values continue to form an integral part of the day-to-day operations and that any misalignment is rapidly addressed. This is further enhanced by whistleblowing, equal opportunity and anti harassment policies.

The Group is committed to providing a safe environment for its staff and all other parties for which the Group has a legal or moral responsibility.

The Company recognises the importance of engaging with its shareholders and reports formally to them through the publication of its full-year and half-year results and via additional updates throughout the year. The Chairman presents the results to existing shareholders, potential investors, brokers and the media, where appropriate. The Non-Executive Directors are also available to discuss any matter with shareholders.

Meetings with these stakeholders are reported on at monthly board meetings by the Chairman to ensure that shareholders’ views are communicated. This process enables the Board to be kept aware of shareholders’ opinions on strategy and governance, and for them to understand any issues or concerns.

Shareholders are encouraged to attend the annual general meeting at which the Company’s activities and results are considered, and shareholders questions are encouraged and answered by the Directors. General information about the Company is also available on the Company’s website: https://insig.ai.

Since January 2020, the Board of Insig AI has announced detailed results of shareholder voting to the market shortly after each shareholder vote.

The Board considers the interests of shareholders and all relevant stakeholders in line with section 172 of the Companies Act 2006. The Company is aware of its corporate social responsibilities and the need to maintain effective working relationships across a range of stakeholder groups, which include the Company’s employees, customers, suppliers, and regulatory authorities.

The Company’s operations take account of the need to balance the needs of all stakeholder groups while maintaining focus on the Board’s primary responsibility to promote the success of the Company for the benefit of its shareholders. The Company endeavours to take account of feedback received from stakeholder groups, making amendments to working arrangements and operational plans where appropriate and where such amendments are consistent with the Company’s long-term strategy.

Customer engagement and satisfaction is core to Insig AI’s success; thus, we maintain consistent and constructive dialogue with our clients. We regularly review the customer communication channels and will continue to adapt the customer engagement structure as the Company and its customer base grows to ensure that customer feedback is easily received and addressed.

The Company prioritises the satisfaction and engagement of its employees. “All Hands” meetings are held regularly as well as individual employee “check-ins” to ensure employees are kept informed and supported. The Board regularly considers employee issues raised via feedback sessions. The Company has established a share option scheme which allows for employees to share in the creation of long-term shareholder value through the grant of options to employees.

The Company considers its actions and likely impact that they may have on the environment and seeks to mitigate any negative impact wherever practicable. Through the various procedures and operating systems, the Company complies with health and safety, safeguarding, and environmental legislation relevant to its activities.

The Board has overall responsibility for the Group’s internal control systems and for monitoring their effectiveness. The Board, with the assistance of the Audit Committee, maintains a system of internal controls to safeguard shareholders’ investment and the Group’s assets, and has established a continuous process for identifying, evaluating and managing the significant risks the Group faces.

The Directors are responsible for the Group’s system of internal control. Although no system of internal control can provide absolute assurance against material misstatement or loss, the Group’s system is designed to provide the Directors with reasonable assurance that problems are identified on a timely basis and dealt with appropriately. The key procedures that have been established and which are designed to provide effective internal control are as follows:

• Management structure – the Board meets at least 3 times per annum and minutes of its meetings are maintained;

• Financial reporting – budgets are prepared annually and then presented to and, if appropriate, approved by, the Board. Forecasts are prepared monthly and presented to the Board. The financial reporting pack is presented to the Board monthly and any material variances from budgeted or forecast to actual results are investigated; and

• Investment appraisal – the Company has a clearly defined framework for capital expenditure requiring approval of the Board where appropriate.

Our Head of Technical Delivery oversees the process for identifying, assessing and managing climate-related risks as part of their role on the Management Team. This is done in coordination with other Heads of Department, mainly the Chief Technology Officer who is responsible for managing Insig AI’s data storage and processing and 3rd party Generative AI model procurement.

The Group has used the IFRS Foundation’s Sustainability Accounting Standard (SASB) for Software and IT Services (2023-12) as a framework to assist in identifying and assessing relevant sustainability-related risks and determining appropriate disclosures. The Group’s Sustainability Report has been informed by the disclosure topics and metrics contained within the Standard, having regard to their relevance and the availability of information. 

Further details of the business risks and how they are mitigated as far as possible are contained in the Strategic Report section of the Annual Report. Both the Board and senior management are responsible for reviewing and evaluating risk on an ongoing basis and the Executive Directors regularly review trading performance, discuss budgets and forecasts and any new risks associated with trading, the outcome of which is reported to the Board.

The members of the Board have a collective responsibility and legal obligation to promote the interests of the Company and are collectively responsible for defining corporate governance arrangements. Ultimate responsibility for the quality of, and approach to, corporate governance lies with the Chairman of the Board.

The QCA Code requires that the Boards of AIM companies have an appropriate balance between executive and non- executive Directors of which at least half of the Board should be independent. The Board has considered its current establishment – being two independent non-executive Directors, and two executive Directors – and is satisfied it met this requirement during the year ended 31 March 2026. The time commitment of the non-executive Directors is at least two days per month. All executive Directors are full time.

The Board is supported by two committees, the Audit and Risk Committee and the Remuneration Committee. The members of the committees during the year ended 31 March 2026 were as follows:

Audit and Risk Committee:

• Richard Cooper (Chairman)
• John Wilson

Throughout the year, the Audit Committee monitored the independence and objectivity of the external auditor, including an assessment of any non-audit work undertaken. The Committee is satisfied that the auditor remains independent and they did not provide any non-audit services to the Company.

Remuneration Committee:

• Richard Cooper

The Audit and Risk Committee aims to meet three times per year and the Remuneration Committee meets on an as required basis.

The Chairman is responsible for leadership of the Board, ensuring its effectiveness on all aspects of its role, setting its agenda and ensuring that the Directors receive accurate, timely and clear information. He also ensures effective communication with shareholders and facilitates the effective contribution of the other Non-Executive Directors. The Company is satisfied that the current Board is sufficiently resourced to discharge its governance obligations on behalf of all stakeholders.

Non-Executive Directors are required to attend all Board and Board Committee meetings convened each year and to be available at other times as required for face-to-face and virtual meetings with the executive team and investors.

To enable the Board to discharge its duties, all Directors receive appropriate and timely information. Briefing papers are distributed to all Directors in advance of Board and Committee meetings. In addition, procedures are in place to enable the Directors to obtain independent professional advice in the furtherance of their duties, if necessary, at the Company’s expense.

The Board is responsible to the shareholders and sets the Company’s strategy for achieving long-term success. It is ultimately responsible for the management, governance, controls, risk management, direction and performance of the Company.

Details of the Directors’ attendance at the Board meetings are set out below:

During the year, the board comprised two Executive and two Non-Executive Directors with an appropriate balance of sector, financial and public market skills and experience.

The experience and knowledge of each of the Directors gives them the ability to constructively challenge the strategy and to scrutinise performance. The Board also has access to external advisors where necessary.

The Directors are consistently updated on the Group’s and Company’s business and operations, and legal, regulatory and governance requirements through briefings and meetings with senior executives and advisers.

The Company’s Nominated Adviser assists with AIM and related regulatory matters and ensures that all Directors are aware of their responsibilities. The Directors also have access to the Company’s lawyers and auditors as and when required and can obtain advice from other external bodies when necessary.

Board composition is always a factor for contemplation in relation to succession planning. The Board will seek to take into account any Board imbalances for future nominations as well as board independence.

The Company has engaged Westend Corporate LLP who handle the outsourced accounting and finance functions of the Group and fulfil the role of CFO. Given the Groups current size and revenues, the Board considers an outsourced accounting function appropriate.

The Board shall review annually the appropriateness and opportunity for continuing professional development whether formal or informal.

The Company considers that at this stage of its development and given the current size of its Board, it is not necessary to establish a formal Nominations Committee. Instead, appointments to the Board are made by the Board as a whole. This position, however, is reviewed on a regular basis by the Board. The biographies of each Director who served during the year ended 31 March 2026 are below:

Directors Responsibilities

The Chairman is responsible for the Company’s strategy. He ensures effective communication with shareholders. The Company’s Chief Executive, Richard Bernstein, is responsible for the operational management of the Company and the implementation of Board strategy and policy. By dividing responsibilities in this way, no one individual has unfettered powers of decision-making. The Chief Executive engages in active communications with shareholders, both directly and via company held presentations.

The appropriateness of the Board’s composition and corporate governance structures are regularly reviewed by the Board as a whole, and these will evolve in parallel with the Company’s objectives, strategy and business model.

Richard Bernstein – Chief Executive Officer

Richard Bernstein qualified as a Chartered Accountant in 1989 and between 1994 and 1996 ran his own specialist research house, Amber Analysis. Amber Analysis provided a risk management service for UK institutions managing over £100 billion in assets. Mr Bernstein subsequently joined Schroder Securities as an equities analyst and became the Chief Executive Officer of AIM-listed Eurovestech plc, a high technology development capital fund. In 2008, Mr Bernstein was appointed as an investment manager of Crystal Amber Fund Limited, an AIM-listed activist fund investing predominately in small to mid-cap UK equities.

Steven Cracknell – Chief Product Officer

Steve began his career with Thomson Reuters before being headhunted to work at Goldman Sachs. Steve worked at Goldman Sachs for nearly 10 years developing strategic analytical tools for use across the global investment bank, from Sales and Trading applications to front end website optimisation for clients. Steve latterly led a global sales team for Goldman Sachs in relation to Sales Technology before he left to become an entrepreneur. Steve subsequently moved to California to become CPO and then CEO of Zenti, Inc, a Silicon Valley based tech-start-up focussing on big data analytics solutions, utilising human pattern recognition and machine intelligence. The products he designed helped analyse millions of documents to surface patterns of behaviour and human intent. These products were successfully used by The United States Senate (Permanent Subcommittee for Investigation) as part of a major financial fraud investigation and the National Veterans Foundation for a Veteran Suicide Prevention campaign. Steve left Zenti in 2016 to focus on artificial intelligence and machine learning within the financial markets space, before co-founding Insig AI with Warren Pearson in 2017.

Richard Cooper – Independent Non-Executive Director

Richard Cooper has over 25 years’ experience as a Chief Financial Officer across both publicly traded and privately owned companies in a variety of service industries, including gaming and financial services. His most recent executive role was at Equals Group plc, joining this as CFO in October 2019 until its successful trade sale and de-listing in April 2025. He has been a non-executive Director of Engage XR plc since 2019 and was also Chair of the Audit Committee of Sportech plc from May 2017 until October 2018.

John Wilson – Independent Non-Executive Chairman

John is a globally experienced Chairman and Chief Executive, with a strong background in the technology sector. He is currently the CEO of Bulgin Limited, a world leading manufacturer of sealed connectors and components and Independent Non-Executive Director of AIM quoted Volex plc. Previously, John held the roles of Senior Independent Director, Chair of the Audit Committee and Chair of the Remuneration Committee of Checkit plc (previously Elektron Technology plc), prior to which he was CEO of Elektron Technology Plc for almost a decade.

Maintenance of Governance Structures and Processes

The Chairman ensures effective communication with shareholders. The Company’s Chief Executive, Richard Bernstein, was responsible for the operational management of the Company and the implementation of Board strategy and policy. By dividing responsibilities in this way, no one individual has unfettered powers of decision-making.

The appropriateness of the Board’s composition and corporate governance structures are regularly reviewed by the Board as a whole, and these will evolve in parallel with the Company’s objectives, strategy and business model.

The Board has established the following committees:

Audit and Risk Committee

The Audit and Risk Committee is comprised of the Non-Executive Directors and is chaired by Richard Cooper. Its primary responsibility is to monitor the quality of internal controls, ensuring that the financial performance of the Company is properly measured and reported on, and for reviewing reports from the Company’s auditors relating to the Company’s accounting and internal controls, in all cases having due regard to the interests of shareholders.

The Audit and Risk Committee aims to meet at twice a year to review the Company’s interim and final results and liaise with the Company’s Auditors.

Details of the committee members’ attendance at the audit and risk committee meetings are set out below:

Remuneration Committee

The Remuneration Committee is comprised of one Non-Executive Director, Richard Cooper during the year ended 31 March 2026. Its primary responsibility is to set the level of remuneration and terms and conditions of service of the Executive Directors and key management personnel, including the grant of share options, having due regard to the interests of shareholders. Fees payable to Non-Executive Directors are determined by the Board, with no Director participating in decisions relating to their own remuneration.

The Remuneration Committee did not meet formally during the year ended 31 March 2026 as no matters requiring formal consideration by the Committee arose during the period. The Committee’s terms of reference currently provide for at least two meetings per year and the Board will review these terms to ensure that the required meeting frequency remains appropriate to the Company’s circumstances.

Nominations Committee

The Board has agreed that appointments to the Board will be made by the Board as a whole and so has not created a Nominations Committee.

Directors’ re-election

The Board has adopted the new QCA guidelines for the appointment and re-election of all Directors on an annual basis

In accordance with the Companies Act 2006, the Board complies with: a duty to act within their powers; a duty to promote the success of the Company; a duty to exercise independent judgement; a duty to exercise reasonable care, skill and diligence; a duty to avoid conflicts of interest; a duty not to accept benefits from third parties and a duty to declare any interest in a proposed transaction or arrangement.

Given the small size and complexity of the Company, the Board has not appointed external consultants to evaluate the performance of the Directors and board overall. It however evaluates performance through measures such as peer evaluation and an assessment of the Board’s skills and how they can be used to benefit the Company. They also consider how new appointments to the Board have contributed to the Company, and if further appointments are required to strengthen the Board. The Company will assess the need for an external consultant as the size and the complexity of the Company evolves.

The Board has delegated responsibility for determining the remuneration of the Executive Directors and key management personnel to the Remuneration Committee, which during the year ended 31 March 2026 was comprised of one Non-Executive Director. The Committee determines the level and structure of remuneration, including salary, terms of service and where applicable, the grant of options, having due regard to the interests of shareholders and the long-term success of the Company.

Executive Director remuneration is structured to provide an appropriate level of fixed remuneration and, where considered appropriate, incentive arrangements designed to align their interests with those of shareholders and the achievement of the Company’s strategic objectives. Fees payable to Non-Executive Directors are determined by the Board, with no Director participating in decisions relating to their own remuneration.

The Board is committed to ensuring that remuneration arrangements are simple, transparent, and aligned with the Company’s strategic objectives and shareholder values. The Company does not currently award performance-related pay to Non-Executive Directors, and any future consideration of such will be subject to prior shareholder

Given the Company’s size the Board will not undertake binding votes on remuneration policy however it remains committed to maintaining transparent dialogue with shareholders on all material remuneration matters.

Aside from the distribution to shareholders of an Annual Report and an Interim Report at the half year, shareholders are invited to attend an annual general meeting each year and other meetings where their input and approval is required.

The Company encourages two-way communication with both its institutional and private investors and responds quickly to all queries received. The Chairman is available to the Group’s major shareholders and ensures that their views are communicated fully to the Board.

The Board recognises the Annual General Meeting as an important opportunity to meet private shareholders. The Directors are available to listen to the views of shareholders informally immediately following the Annual General Meeting.

The Company will disclose outcomes of all votes at general meetings of shareholders in a clear and transparent manner either on the website or via an announcement.

Where a significant proportion of votes (20% of independent votes) have been cast against a resolution at any general meeting, the Company will provide an explanation of what actions it intends to take to understand the reasons behind that vote result, and, where appropriate, any different action it has taken, or will take, as a result of the vote.

Insig AI’s website is regularly updated for regulatory announcements and other required information and is accessible online at: https://insig.ai. The Board has ultimate responsibility for reviewing and approving the Annual Report and financial statements and it has considered and endorsed the arrangements for their preparation, under the guidance of its Audit and Risk Committee.