80 CapitaLand Ascott Trust was approximately S$4.23 million. This figure comprised fixed pay of S$2.49 million, variable pay of S$1.55 million (including Stapled Securities issued under the Stapled Security Plans, where applicable) and allowances and benefits-in-kind of S$0.19 million. There was a total of 20 beneficiaries of the remuneration described above. In respect of FY 2025, the aggregate amount of remuneration awarded by the Managers to its senior management (which are also members of staff whose actions have a material impact on the risk profile of CLAS) was approximately S$2.38 million, comprising four individuals having considered, among others, their roles and decision-making powers. Remuneration for Non‑Executive Directors The non-executive Directors’ fees are paid by the Managers and the FY 2025 fees, together with a breakdown of the components, are set out in the Non-Executive Directors’ Remuneration Table on page 91 of this Annual Report. These non-executive Directors’ fees are paid by the Managers. The remuneration policy for non-executive Directors is based on a scale of fees divided into basic retainer fees for serving as Director and additional fees for serving on Board Committees. There were no attendance fees payable, save for in-person participation by Directors at Board and Board Committee meetings that require Directors to travel overseas. Directors’ fees are paid to non-executive Directors on a current year basis. The CEO, who is an executive Director, is remunerated as part of the KMP of the Managers and does not receive any Director’s fees for his/her role as an executive Director. The non-executive Directors who are employees of the CLI Group also do not receive any Directors’ fees. The non-executive Directors’ fee structure and Directors’ fees are reviewed and benchmarked against the REIT industry annually, taking into account the effort, time spent and responsibilities on the part of the non-executive Directors in light of the scale, complexity and geographic scope of the Stapled Group’s business. The remuneration of non-executive Directors is reviewed from time to time to ensure that it is appropriate to attract, retain and motivate the non-executive Directors to provide good stewardship of the Managers and CLAS. The non-executive Directors’ remuneration (including any Stapled Securities awards granted under the RSSP in lieu of cash) does not include any performance-related elements. Complimentary accommodation may be extended by the Managers to its non-executive Directors in any given year. Such benefits are discretionary and not as a matter of right. The framework for the non-executive Directors’ fees has remained unchanged from that of the previous financial year. The non-executive Directors’ fees are paid in cash (about 80%) and in the form of Stapled Securities (about 20%), save that a non-executive Director (not being an employee of the CLI Group) who steps down from the Boards during a financial year will be paid fees fully in cash. The Managers believe that the payment of a portion of the non-executive Directors’ fees in Stapled Securities will serve to align the interests of non-executive Directors with the interests of Stapled Securityholders and CLAS’ long-term growth and value. The payment of nonexecutive Directors’ fees in Stapled Securities is satisfied from the Stapled Securities held by the Managers. No individual Director is involved in any decision of the NRC relating to his/her own remuneration. In order to encourage the alignment of the interests of the non-executive Directors with the interests of Stapled Securityholders, a non-executive Director is required to hold the number of Stapled Securities worth at least one year of the basic retainer fee or the total number of Stapled Securities awarded, whichever is lower, at all times during his/her Board tenure. Corporate Governance
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