Annual Report 2025 75 The composition of the various Board Committees as at 3 March 2026 (being the latest practicable date prior to the issuance of this Annual Report) is set out in the table below. Board Members Audit and Risk Committee Investment Committee# Nominating and Remuneration Committee Dr Beh Swan Gin, Chairman - M C William Tay Wee Leong, CEO - M - Daniel Cuthbert Ee Hock Huat C - M Chinniah Kunnasagaran M M - Choo Oi Yee1 M M - Manohar Khiatani - C M Tham Wei Hsing, Paul2 - M - Denotes: C - Chairman M - Member CEO - Chief Executive Officer # Given the nature and scope of the work of the IC, the IC regularly reviews and approves matters tabled for discussion or approval. Notes: 1 Ms Choo Oi Yee was appointed as Member of Audit and Risk Committee with effect from 23 January 2026. 2 Mr Tham Wei Hsing, Paul was appointed as non-executive non-independent Director and Member of Investment Committee with effect from 16 January 2026. Meetings of Board and Board Committees Board and Board Committee meetings are scheduled prior to the start of each financial year. The Constitution of the Manager (Constitution) permits the Directors to participate via audio or video conference. The Board and Board Committees may also make decisions by way of written resolutions. The Board may hold ad hoc meetings if required. The non-executive Directors, led by the independent Chairman, also meet at least once a year without the presence of Management. The Chairman provides feedback to the Board and/or Management as appropriate. There is active interaction between the Management and the Board. The Management provides updates at Board meetings on the progress of the CLAR Group's business and operations (including market developments and trends, business initiatives, budget and capital management) and challenges CLAR faces. The Directors and Management have separate, independent and unfettered access to each other at all times for any information they may require. Management provides the Board with complete, adequate and timely information prior to Board and Board Committee meetings and on an ongoing basis to enable the Directors to make informed decisions, discharge their duties and responsibilities, and facilitate focused discussions and active participation. In FY 2025, the Board held eight meetings. The Directors' meeting attendance record for FY 2025 is set out on page 97 of this Annual Report. At Board and Board Committee meetings, all Directors actively participate in discussions, engaging in open and constructive debate and challenging Management on its assumptions and recommendations. No individual Director influences or dominates the decision-making process. The Directors also have separate and independent access to the company secretary of the Manager (Company Secretary). The Company Secretary has oversight of corporate secretarial matters, ensuring that Board procedures are followed at Board meetings and facilitating the administration work relating to Directors’ professional development. The appointment and the removal of the Company Secretary is subject to the Board's approval. The Directors are entitled to access independent professional advice where required, at the Manager's expense. Principle 2: Board Composition and Guidance Board Independence The Board has a strong independent element as four out of seven Directors, including the Chairman, are non-executive IDs. Other than the CEO, non-executive Directors make up the rest of the Board. None of the IDs has served on the Board for nine years or longer. Under the Code, the Board should have a lead ID to provide
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