Annual Report 2025 93 Timely Disclosure of Information The Manager is committed to keeping all Unitholders, other stakeholders, analysts and the media informed of CLAR's performance and any changes in the CLAR Group or its business which is likely to materially affect the price or value of the Units, by posting announcements and news releases on SGXNet and the Website in compliance with regulatory reporting requirements, on a timely and consistent basis. In FY 2025, the Manager provided Unitholders with half-year and full-year financial statements within the relevant periods under the Listing Manual. Such financial statements were reviewed and approved by the Board before being announced on SGXNet and accompanied by news releases. In presenting the financial statements to Unitholders, the Board sought to provide Unitholders with a balanced, clear and comprehensible assessment of CLAR and CLAR Group's performance, position and prospects. The Manager provides Unitholders, on a voluntary basis, with quarterly business updates between such announcements, which contain information on CLAR Group's key operating and financial metrics. In addition, the Manager also keeps CLAR's Unitholders, stakeholders and analysts informed of the performance and changes in CLAR Group or its business which would likely materially affect the price or value of the Units. The Manager also conducts analysts' and media briefings and uploads the briefing materials used on SGXNet. The Manager has a formal policy on corporate disclosure controls and procedures to ensure that CLAR complies with its disclosure obligations under the Listing Manual. These controls and procedures incorporate the decisionmaking process and an obligation on internal reporting of the decisions made. Investor Relations The Manager has an Investor Relations (IR) function, supported by CLI’s Listed Funds IR department, which facilitates effective communication with Unitholders and analysts. The Manager also has a corporate communications function supported by CLl's Group Communications department which works closely with the media and oversees CLAR's media communications efforts. CLI’s Listed Funds IR department maintains the Website containing information on CLAR including its Prospectus, announcements and news releases, financial statements and investor presentations. The Manager actively engages with Unitholders to solicit and understand their views, and has an IR policy (IR Policy) to promote regular, effective and fair communications with Unitholders. The IR Policy, which sets out the mechanism through which Unitholders may contact the Manager with questions and through which the Manager may respond to such questions, is available on the Website. Managing Stakeholder Relationships The Board's role includes considering sustainability as part of its strategy formulation. The Manager adopts an inclusive approach for CLAR by considering and balancing the needs and interests of material stakeholders. The Manager is committed to sustainability and incorporates the key principles of environmental and social responsibility, and corporate governance in CLAR's business strategies and operations. The Manager has arrangements to identify, engage and manage relationships with material stakeholder groups from time to time, and gathers feedback on the sustainability issues most important to them. The Manager also updates the Website with current information on its sustainability approach and stakeholder engagements, to facilitate communication and engagement with CLAR's stakeholders. The rights of CLAR's creditors, which comprise of lending banks, are protected with a well-spread debt maturity, a healthy interest coverage ratio and gearing ratio below the regulated limits. Regular internal reviews are also conducted to ensure that various capital management metrics remain compliant with loan covenants. Additional Information Investment Committee The Board has also established an IC to review all matters within its terms of reference. Pursuant to the IC’s terms of reference, the IC’s scope of duties and responsibilities involve assisting the Board in its oversight of responsibilities in the areas of investment, divestment and asset enhancement initiatives within the IC’s approval limits. The IC regularly reviews and approves matters tabled for discussion or approval. Dealings with Interested Persons Review Procedures for Interested Person Transactions (IPTs) The Manager has established internal control procedures to ensure that IPTs are in compliance with Chapter 9 of the Listing Manual and the Property Funds Appendix. The Manager would have to demonstrate to the ARC that such IPTs are undertaken at arm’s length, on normal commercial terms and are not prejudicial to the interests of CLAR and Unitholders, which may include obtaining (where practicable) third party quotations or valuations from independent valuers (in accordance with applicable provisions of the Listing Manual and Property Funds Appendix).
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