Overview Leadership Portfolio & Performance Sustainability & Governance Financial Statements and Other Information CEO’s Remuneration Table for FY 2023 Components of remuneration Remuneration Salary and employer’s CPF Bonus and other benefits inclusive of employer’s CPF1 Award of Stapled Securities2 Total CEO Teo Joo Ling, Serena 34% 29% 37% 100% Remuneration band for CEO: Above S$1,000,000 to S$1,250,000 1 The amounts disclosed include bonuses earned which have been accrued for in FY 2023. 2 Includes contingent Performance Stapled Security awards made during the year pursuant to the Performance Stapled Security Plan (PSSP) which are subject to the achievement of pre-determined performance conditions and vesting period. Also includes time-based deferred shares awarded pursuant to the Restricted Stapled Security Plan as part of the FY2023 performance bonus. Non-Executive Directors’ Remuneration Table for FY 2023 Components of Directors’ fees1,2 (S$) Cash component Stapled Securities component2 Total (S$)4 Non-Executive Directors Tan Beng Hai, Bob 124,000 31,000 155,000 Sim Juat Quee Michael Gabriel 95,200 23,800 119,000 Chia Kim Huat 79,200 19,800 99,000 Deborah Lee Siew Yin 79,200 19,800 99,000 Ong Su Kiat Melvyn3 115,000 – 115,000 Max Loh Khum Whai5 7,609 1,902 9,511 Goh Soon Keat Kevin N.A.4 N.A.4 N.A.4 Beh Siew Kim N.A.4 N.A.4 N.A.4 Aggregate of remuneration for Non-Executive Directors: S$596,511 N.A.: Not applicable 1 Inclusive of attendance fees for overseas meeting (if any) of (a) S$3,000 per trip for travel within the region; and (b) S$10,000 per trip for travel outside the region. 2 Each non-executive Director (save for non-executive Directors who are employees of CLI Group or public officers) shall receive up to 20% of his or her Director’s fees in the form of Stapled Securities (subject to truncation adjustments). The remainder of the Director’s fees shall be paid in cash. No new Stapled Securities will be issued for this purpose as these Stapled Securities will be paid by the Managers from the Stapled Securities they hold. 3 The director fees payable to Mr Ong Su Kiat Melvyn, a public officer, will be paid fully in cash to a government agency. 4 Non-executive Directors who are employees of CLI Group do not receive Directors’ fees. 5 Mr Max Loh Khum Whai was appointed as Non-Executive Independent Director and a member of the ARC with effect from 23 November 2023. STATEMENT OF POLICIES AND PRACTICES OF CAPITALAND ASCOTT BT Apart from the corporate governance practices disclosed above, the Trustee-Manager has prepared a statement of policies and practices in relation to the management and governance of CapitaLand Ascott BT (as described in section 87(1) of the Business Trusts Act 2004) in respect of the financial year ended 31 December 2023 (FY 2023), which is set out on pages 136 to 142 of this Annual Report. ANNUAL REPORT 2023 135
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