78 CapitaLand Ascendas REIT Corporate Governance Dr Beh, Mr Ee, Mr Kunnasagaran, Ms Ong and Ms Choo are independent Directors. The Board is of the view that as at the end of FY 2025, Dr Beh, Mr Ee, Mr Kunnasagaran, Ms Ong5 and Ms Choo were able to act in the Unitholders’ best interests in respect of the period in which they served as Directors in FY 2025. Based on the assessment, other than Mr William Tay Wee Leong6, Mr Manohar Khiatani7, and Mr Paul Tham8, all members of the Board are considered to be independent Directors. 5 Ms Ong Lee Keang Maureen resigned as non-executive independent Director with effect from 23 January 2026. 6 Mr William Tay Wee Leong is considered non-independent by virtue of his employment with CLI Group. 7 Mr Manohar Khiatani is considered non-independent by virtue of his employment with CLI Group. 8 Mr Paul Tham is considered non-independent by virtue of his employment with CLI Group. Mr Paul Tham was appointed as non-executive non-independent Director and Member of the Investment Committee of the Manager with effect from 16 January 2026. Board Diversity The Board embraces diversity and has a Board Diversity Policy which provides for the Board to comprise talented and dedicated Directors with a diverse mix of expertise, experience, perspectives, skills and backgrounds, with due consideration to diversity factors, including diversity in business or professional experience, age and gender. The Board values the benefits that diversity can bring to the Board in its deliberations by enhancing decision-making capacity, avoiding groupthink and fostering constructive debate, which contributes to the effective governance of CLAR's business and long-term sustainable growth. CLAR’s Board diversity targets, plans and timelines for achieving those targets are described below. Diversity Targets, Plans and Timelines Targets Achieved / Progress Towards Achieving Targets Gender To have at least 25% and 30% female Directors on the Board during the period leading up to 2025 and 2030. The Manager believes in achieving an optimum mix of men and women on the Board to provide different approaches and perspectives. Achieved As at the end of FY 2025, there were two female Directors (out of seven Directors) on the Board. This represents 28.6% of the Board. Gender Diversity 71% Male - 5 Directors 29% Female - 2 Directors
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