Diversity Targets, Plans and Timelines Targets Achieved / Progress Towards Achieving Targets Tenure Toensure that theBoardcomprisesDirectors across the following tenure groups: (a) less than 3 years; (b) 3 to 6 years; and (c) 6 to 9 years, and tomaintain such level of tenure diversity during the period leading up to 2025. The Manager believes that tenure diversity would facilitate Board renewal progressively and in an orderly manner, whilst ensuring knowledge continuity about theManager and its business operations and sustainability of corporate performance. Achieved As at the end of FY 2023, the Board comprised Directors across all 3 tenure groups. Skills / Experience To ensure that the Directors, as a group, possess: (a) a variety of skill sets, including in core competencies, domain knowledge and other fields of expertise, such as finance, banking, real estate and investment management; and (b) amix of industry experience, management experience and listed company board experience, by 2025, or (if applicable) to maintain such level of diversity in skill sets and experience during the period leading up to 2025. The Manager believes that diversity in skill sets would support the work of the Board and Board Committees and needs of the Manager, and that an optimal mix of experience would help shape the Manager’s strategic objectives and provide effective guidance and oversight of Management and the Manager’s operations. The Manager continually endeavours to deepen the bench strength of the Board with complementary and relevant expertise, including in the areas of investment management and sustainability. Achieved / Achieving Target As at the end of FY 2023, the Board comprised Directors who, as a group, possess a significant majority of the identified core skills and experience. The Board will continue to look for opportunities to strengthen certain skill sets. In terms of skill sets, the Board comprises Directors with a variety of skills and expertise in areas including investment management, M&As, real estate, accounting, finance, leadership, governance, banking and capital markets, legal and compliance, innovation and technology, marketing, and branding. In terms of experience, the Board comprises Directors who are corporate and business leaders and who collectively have experience in general business management, have served on public listed company boards, have international or regional experience and have exposure in various industry sectors and markets, including commercial (retail and office). The NRC, in carrying out its duties of determining the optimal composition of the Board in its Board renewal process and addressing Board vacancies, identifies possible candidates that bring a diversity of background and opinion from amongst candidates with the appropriate background and industry or related expertise and experience. In identifying possible candidates and making recommendations of board appointments to the Board, the NRC’s considerations include achieving an appropriate level of diversity in the Board composition having regard to diversity factors such as skills, experience, age, tenure, as well as educational, business and professional background of its members. Gender diversity is also considered an important aspect of diversity. TENURE MIX 44.4% 11.2% 44.4% less than 3 years – 4 Directors 3 to 6 years – 4 Directors 6 to 9 years – 1 Director Overview Leadership Performance Framework Other Information ANNUAL REPORT 2023 143
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