CapitaLand Integrated Commercial Trust - Annual Report 2021

(b) wider and better access to banking and capital markets on favourable terms; (c) fund raising and treasury support; and (d) access to a bench of experienced management talent. OUR CORPORATE GOVERNANCE FRAMEWORK AND CULTURE The Manager embraces the tenets of good corporate governance, including accountability, transparency and sustainability. It is committed to enhancing long-term Unitholder value and has appropriate people, processes and structure to direct and manage the business and affairs of the Manager with a view to achieving operational excellence and delivering the CICT Group’s long-term strategic objectives. The policies and practices it has developed to meet the specific business needs of the CICT Group provide a firm foundation for a trusted and respected business enterprise. Our corporate governance framework as at the date of this Annual Report is set out below: Board of Directors 5 Independent Directors (ID) and 3 Non-Independent Directors (Non-ID) Led by ID, Ms Teo Swee Lian, Chairman Key Responsibility: Oversee the Manager’s strategic direction, performance and affairs and foster the success of CICT so as to deliver sustainable value over the long term to Unitholders Audit Committee (AC) Executive Committee (EC) Nominating and Remuneration Committee (NRC) 3 IDs Led by Mrs Quek Bin Hwee , AC Chairman Key Responsibility: Assist the Board in its oversight of the financial reporting process, internal controls system, internal and external audit processes, and management of compliance with legal, regulatory and company policies 3 Non-IDs Led by Mr Jonathan Yap Neng Tong, EC Chairman Key Responsibility: Assist the Board in its oversight of the day-to-day activities of the Manager and CICT 2 IDs and 1 Non-ID Led by Ms Teo Swee Lian, NRC Chairman Key Responsibility: Assist the Board on Board succession planning and appointments to the Board and Board Committees, and the review of the Board’s performance, Director’s independence and remuneration for the Directors and key management personnel of the Manager The Board of Directors (Board) sets the tone from the top and is responsible for the Manager’s corporate governance standards and policies, underscoring their importance to the CICT Group. This corporate governance report (Report) sets out the corporate governance practices for the financial year (FY) 2021 with reference to the Code of Corporate Governance 2018 (Code). Throughout FY 2021, the Manager has complied with the principles of corporate governance laid down by the Code and also, substantially, with the provisions underlying the principles of the Code. Where there are deviations CapitaLand Integrated Commercial Trust 172 Corporate Governance