74 CapitaLand Ascendas REIT Corporate Governance adopted a Board Code of Business Conduct and Ethics which provides for every Director to adhere to the highest standards of ethical conduct and to avoid conflicts of interest. Each Director is required to disclose to the Board his/her interests in CLAR’s transactions (or potential transactions), and any other potential conflicts of interest, and where there are conflicts of interest, Directors will recuse himself/herself from deliberations and abstain from voting on such transactions. In FY 2025, every Director complied with this policy, and such compliance has been recorded in the minutes of meeting or written resolutions. Directors' Development The Nominating and Remuneration Committee ensures that the Manager has a training framework to equip Directors with the necessary knowledge and skills to understand the CLAR Group’s business and discharge their duties and responsibilities as Directors (including their roles as executive and non-executive, and IDs). Directors who have no prior experience as a director of an issuer listed on the SGX-ST will undergo training on the roles and responsibilities of a director of a listed issuer as prescribed by the SGX-ST. As at end-FY 2025, all the members of the Board attended the sustainability training prescribed under Rule 720(7) of the Listing Manual. Arrangements have been made for Mr Tham Wei Hsing, Paul (Mr Paul Tham), who was appointed to the Board with effect from 16 January 2026, to attend such training in FY 2026. 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 Manager’s 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 CLAR’s business, operations, policies, strategies, financial and governance practices, and includes visits to CLAR’s 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 (including sustainability training as prescribed under the Listing Manual) so as to be updated on matters that enhance their performance as Directors or Board Committee members. The costs of training of all Directors are borne by the Manager. Directors can also request for training in any other area or recommend specific training and development programmes to the Board3. In FY 2025, the training and professional development programmes for the Directors included seminars and training sessions conducted by experts and senior business leaders on macroeconomic and market outlook, leadership perspectives dialogue, as well as e-learning on anti-money laundering and global sanctions. Board Committees The Board has established various Board Committees to assist in the discharge of its functions. These Board Committees are the Audit and Risk Committee (ARC), the Investment Committee (IC) and the Nominating and Remuneration Committee (NRC). Each Board Committee has clear written terms of reference (setting out its composition, authorities and duties, including reporting back to the Board) and operates under delegated authority from the Board with the Board retaining overall oversight. The decisions and significant matters discussed at Board Committees' meetings are reported to the Board on a periodic basis, and minutes of such meetings are circulated to all Board members. 3 The Board considers all Board members’ views and feedback in recommending training and professional development programmes for the Board and the Directors. Hence, any Director may recommend specific training and development programmes which he/ she believes would benefit the Directors or the Board. The review of training and professional development programmes is done by the Board 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 Board on the training and professional development programmes for the Board and its Directors, this is consistent with the intent of Principle 4 of the Code.
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