Corporate Governance policy is readily available to employees and to all suppliers, service providers and partners. All the members of the Boards attended or will attend the sustainability training as prescribed by the SGXST. New Directors who are appointed to the Boards from time to time who have not undergone training on sustainability matters as prescribed by the SGX-ST will either have expertise in sustainability matters or will undergo further training required under Rule 720(7) of the Listing Manual. Arrangement has been made for Mr Yeo Chin Fu Ervin, who was appointed as Director in January 2025, to attend such mandatory sustainability training in the financial year ended 31 December 2025 (FY 2025). More details of CLAS’ sustainability approach, environmental policies, anti-corruption efforts, training and development can be found in CLAS’ Sustainability Report 2024 which will be published in May 2025. Directors’ Development The Nominating and Remuneration Committee (NRC) ensures that the Managers have a training framework to equip Directors with the necessary knowledge and skills to understand CLAS’ business and discharge their duties and responsibilities as Directors (including their roles as executive, non-executive and independent directors). Directors, including those who have no prior experience as a director of an issuer listed on the SGX-ST, will undergo training as prescribed by the SGX-ST on, for example, the roles and responsibilities of a director. The costs of training for all Directors are borne by the Managers. Mr Yeo Chin Fu Ervin, being a first-time director, will undergo training in the roles and responsibilities of a director of a listed issuer, as prescribed by the SGXST, the details of which are set out above in the Board Changes section on page 65 of this Report. Each newly-appointed Director is provided with a letter of appointment and a Director’s Manual (containing a broad range of information relating to Directors’ roles and responsibilities and the Managers’ policies on disclosure of interests in securities, conflicts of interests and securities trading restrictions). All Directors undergo an induction programme which focuses on orientating the Director to CLAS’ business, operations, policies, strategies, and financial and governance practices, and includes visits to CLAS’ properties. Directors are provided with opportunities for continuing education in areas such as director’s duties and responsibilities, laws and regulations, risk management and accounting standards, industry-related matters and sustainability so as to be updated on matters that enhance their performance as Directors or Board Committee members. Directors can also request for training in any other area or recommend specific training development programmes to the Boards2. In FY 2024, the training and professional development programmes for the Directors included seminars and training sessions conducted by experts and senior business leaders on reinvention in the age of Gen AI and CapitaLand’s Perspective on Gen AI. Board Committees Each Board Committee has clear written terms of reference (setting out their composition, authorities and duties, including reporting back to the Boards) and operates under delegated authority from the Boards with the Boards retaining overall oversight. The decisions and significant matters discussed at Board Committee meetings are reported to the Boards on a periodic basis, and minutes of such meetings are also circulated to all members of the Boards. The composition of the various Board Committees in FY 2024 and as at the date of this Report is set out in the table on the next page. 2 The Boards consider all Board members’ views and feedback in recommending training and professional development programmes for the Boards and the Directors. Hence, any Director may recommend specific training and development programmes which he/she believes would benefit the Directors or the Boards. The review of training and professional development programmes is done by the Boards as a whole, and this function was not delegated to the NRC. While this is a partial deviation from Provision 4.1(c) which requires the NRC to review and make recommendations to the Boards on the training and professional development programmes for the Boards and their directors, this is consistent with the intent of Principle 4 of the Code. 66 CapitaLand Ascott Trust
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