Ascendas REIT - Annual Report 2021

Corporate Governance The NRC identifies suitable candidates for appointment to the Board. Searches for possible candidates are conducted through contacts and recommendations. In this regard, external consultants may be retained from time to time to assist the NRC in identifying candidates. Candidates are identified based on the needs of Ascendas Reit and the relevant skills required, taking into account, among other things, the requirements in the Listing Manual and the Code, as well as the factors in the Board Diversity Policy. The candidates will be assessed against a range of criteria including their demonstrated business sense and judgement, skills and expertise, and market and industry knowledge (and may include elements such as financial, sustainability or other specific competency, geographical representation and business background). The NRC also considers the qualities of the candidates, in particular whether they are aligned to the strategic directions and values of Ascendas Reit. In addition, the NRC assesses the candidates’ ability to commit time to the affairs of Ascendas Reit, taking into consideration their other current appointments. The NRC uses a skills matrix to determine the skills gaps of the Board and if the expertise and experience of a candidate would complement those of the existing Board members. As part of the Board renewal process, Ms Ong Lee Keang Maureen was appointed as a Non-Executive ID and a member of the ARC with effect from 1 September 2021. Upon the establishment of the NRC on 20 October 2021, Dr Beh Swan Gin was appointed as chairman of the NRC and Mr Chan Pengee, Adrian and Mr Manohar Khiatani were appointed as members of the NRC. Mr Khiatani also ceased his membership in the ARC as of 20 October 2021. Ms Chong Chiet Ping retired as a Non-Executive ID and a member of the ARC with effect from 1 November 2021. Directors who are appointed to the Board from time to time either have prior experience as a director of an issuer listed on the SGX-ST or will undergo the training required under Rule 210(5)(a) of the Listing Manual. As Ms Ong Lee Keang Maureen has prior experience as a director of an issuer listed on the SGX-ST, she is not required to undergo the requisite training under rule 210(5)(a) of the Listing Manual. Review of Directors’ Ability to Commit Time In view of the responsibilities of a Director, Directors need to be able to devote sufficient time and attention to adequately perform their duties and responsibilities. The NRC conducts a review of the other appointments and commitments of each Director on an annual basis and as and when there is a change of circumstances involving a Director which may affect his or her ability to commit time to the Manager. In this regard, Directors are required to report to the Board any changes in their other appointments. In respect of the Directors’ other appointments and commitments, no limit is set as to the number of listed company board appointments. The Board takes the view that the number of listed company directorships that an individual may hold should be considered on a case-by-case basis, as a person’s available time and attention may be affected by many different factors, such as his or her individual capacity, whether he or she is in full-time employment, the nature of his or her other responsibilities and his or her near term plan regarding some of the other appointments. A Director with multiple directorships is expected to ensure that he or she can devote sufficient time and attention to the affairs of the Manager. IDs are also required to consult the Chairman before accepting any invitation for appointment as a director of another entity or offer of a full time executive appointment. There is also no alternate director to any of the Directors. In keeping with the principle that a Director must be able to commit time to the affairs of the Manager, the Board has adopted the principle that it will generally not approve the appointment of alternate directors to the Directors. Each of the Directors is required to make his or her own self-assessment and confirm that he or she is able to devote sufficient time and attention to the affairs of the Manager. For FY2021, all non-executive Directors had undergone the self-assessment and provided the confirmation. Ascendas Reit 122