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Investor Relations and Corporate Communications PolicyPrint This

ESR Funds Management (S) Limited ("ESR-FM"), the Manager of ESR-REIT, is committed to provide material information in a timely, accurate and transparent manner to the public, in accordance to the regulations of the Monetary Authority of Singapore, Singapore Exchange Securities Trading Limited ("SGX-ST") and the Singapore Code of Corporate Governance 2012.

1. Overview

1.1 The Investor Relations and Corporate Communications ("IRCC") Policy establishes a framework of processes and practices to ensure proper communication and delivery of information to its stakeholders to make well-informed decisions.

1.2 ESR-FM will comply with all applicable securities regulations and ensure full and accurate disclosure of corporate communications materials. In addition to statutory disclosures, ESR-FM seeks to adopt a pro-active stance of voluntary disclosure of information deemed to have a potential impact on investment decisions by its stakeholders.

1.3 This policy is subject to regular reviews by the senior management team of ESR-FM to evaluate the efficacy of its communication channels in order to reflect current best practices and to keep its various stakeholders abreast of ESR-REIT's business operations and financial performance.

2. Guiding Principles
2.1 Efficiency

ESR-FM adopts various communication avenues to convey its messages to all its stakeholders. ESR-FM is committed to disseminate all material information that would reasonably be required to make an informed decision about investment in ESR-REIT's securities in a fair, timely and cost-efficient manner.

2.2 Transparency

ESR-FM is committed to open and transparent communication with all stakeholders. ESR-FM promotes investor confidence by ensuring that trade in its securities takes place in an informed market.

2.3 Clarity

ESR-FM is committed to communicate with stakeholders in a clear language that avoids unnecessary jargon and provides maximum understanding of its messages. The official communications language for ESR-FM is English. However, from time to time and depending on specific objectives some communication collaterals might be translated in other languages such as Chinese and Japanese.

3. IRCC Stakeholders

For clarity, stakeholders are defined to include but not limited to the following:

3.1 External Stakeholders

(a) Investment Community

  • Investors and unitholders (retail and institutional);
  • Analysts, fund managers and investment bankers;
  • Banks and lenders; and
  • Business partners, rating agencies, service providers

(b) General Community

  • Government agencies and Regulators;
  • Immediate business partners and the wider business community;
  • Community organisations;
  • Other organisations and special interest groups; and
  • The general public

(c) Customers

  • Current portfolio tenants and sub-tenants; and
  • Potential and future tenants and sub-tenants

(d) Media

  • All forms, including press, wire services, radio, television, electronic and social media;
  • All levels, including general news, business/finance, personal investment and trade; and
  • All geographies, including metropolitan, suburban, regional and rural

3.2 Internal Stakeholders
  • Board of Directors;
  • Shareholders of ESR-FM; and
  • Employees and staff

4. Spokespeople

ESR-REIT's spokespeople are the Chairman and the CEO. These spokespersons may designate other persons as spokespersons from time to time. All incoming investors, unitholders and media queries should be put through to a member of the IRCC team. From that point, the appropriate spokespersons will be identified to assist in handling the particular inquiry.

5. Communication Channels

IRCC's channels of communications and materials include but are not limited to the following:

(a) Reports and documents provided to SGX-ST and other regulators;

(b) Materials and statements in the annual reports, quarterly financial reports, press releases, letters and circulars to unitholders;

(c) Presentation materials;

(d) Statements released in response to news articles or publications concerning ESR-REIT;

(e) Correspondence and emails;

(f) Verbal statements made to outside parties in meetings, briefings, press conferences, or during telephone conversations; interviews with the media;

(g) Speeches given on behalf of ESR-REIT; and

(h) Corporate Website (www.esr-reit.com.sg)

  • The IRCC team will use the IR section of the ESR-REIT's website as a primary communication channel. The team is responsible for the content, presentation and the prompt update of all sections in the website.

  • Press releases, quarterly reports and presentation materials from conferences, roadshows and investor meetings, where necessary, will be posted on the website in a timely manner. The website also provides visitors with the option to sign up for free email alert service and access to ESR-REIT's email address for direct enquiries.

6. Communications related to Financial Reporting and General Meetings
6.1 Quarterly / Full Year Financial Reporting
  • Interim quarterly financial results will be issued to SGX-ST one day after approval by the Board has been obtained, outside the trading hours of SGX-ST. A copy of the financial results and all relevant accompanying materials will be posted on ESR-REIT's website as soon as practicable following their posting on SGX-ST.

  • ESR-FM holds a briefing with investors, analysts and media on a half-yearly and full-yearly basis, as soon as practicable following the release of the financial results on SGX-ST.

6.2 Annual Report ("AR")
  • The AR will be published and distributed in accordance with the regulatory requirements of SGX and MAS. An electronic version of the AR will be made available on ESR-REIT's corporate website.

6.3 Annual General Meetings ("AGM") and Extraordinary General Meetings ("EGM")
  • The AGM is held annually while the EGM is held only when the need arises according to the SGX Listing Manual.

  • Broadly, the content of the AGM will concentrate on the ESR-REIT's financial condition and performance, its strategy and outlook, and any relevant operational matters of interest to unitholders. Given the AGM is regarded as an important forum for investors to engage with the Board and senior management team, this event provides an opportunity for retail unitholders, especially, to gain a fuller understanding of ESR-REIT's operations and key strategic plans. As such, meetings will be conducted in a manner which permits reasonable enquiry. In line with ESR-FM's commitment to equality of access to information, presentation materials from the AGM will be posted on ESR-REIT's website.

  • Matters which require unitholders' consideration and approval are also clearly documented and detailed in the AR. Both the AR and Notice of general meeting are provided promptly to the unitholders within the stipulated timeline to ensure that sufficient time is given to the unitholders to review the documents.

  • Notices for general meetings are also published in the local newspaper, released via SGXNET and uploaded on ESR-REIT's corporate website.

  • ESR-REIT conducts voting by poll for all general meetings and the poll results are announced during the meeting. A separate announcement of the poll results will be made available via SGXNET after the conclusion of each meeting.

7. Receiving Feedback

As an on-going process, the IRCC team will survey its stakeholders especially the investment community from time to time to gauge external opinion, either by way of formal meetings, or through seeking verbal opinion during occasions of contact with them. External opinion will be sought not only on operational and performance matters, but also on governance and strategic issues.

8. Handling of Complaints

Recognising that factors affecting the unit price performance of ESR-REIT are often beyond management control and subject to market conditions, the IRCC team will nevertheless endeavour to address any enquiries of investor or unitholder received and formulate an appropriate response.

Upon receipt of complaint or feedback, the IRCC Team will:

(a) Assess the content / severity of the complaint based on the following criteria:

  • Content: upon receiving of the complaint, it is to be reviewed and assessed by the Head of Capital Markets and Investor Relations and escalated to the CEO or designate on technical matters to determine whether the complaint has merit or validity. Examples of such considerations are: Does the complaint refer to something that the Manager (or Property Manager) ought to have done or not done, or is it outside of the Manager's control? Are there any legal ramifications?

  • Severity: considerations include any possible financial impact to ESR-REIT, does it affect unitholders, reputation of ESR-REIT / ESR-FM etc.

(b) Depending on the content / severity of the feedback, the IRCC team may escalate the issue to the senior management team. Where there is major financial or reputational impact to ESR-REIT, the Board must be notified of the complaint and be kept apprised of the status of the complaint.

(c) Assign appropriate team members to provide response.

(d) Acknowledge complaint within 2 working days and provide update on the status of the feedback within 7 working days from acknowledgement date. All complaints should be resolved within 14 days. If due to unforeseen circumstances that resolution cannot be completed within 14 days, status update on the complaint should be provided to the investor/ unitholder every 7 days until completion of resolution.

(e) Summary of complaints should be tabled to the Audit, Risk Management and Compliance Committee and Board.

(f) Maintain records of all complaints and its handling / resolution.

This process will also apply for complaints that are brought to the Financial Industry Disputes Resolution Centre. For any complaints concerning conduct issues of team members, IRCC will defer to the whistle-blowing policy.

9. Contact Details
ESR Funds Management (S) Limited

138 Market Street
#26-03/04 CapitaGreen, Singapore 048946
Tel: (65) 6222 3339
Fax: (65) 6827 9339
www.esr-reit.com.sg

Investor Relations

Tel: (65) 6222 3339
ir@esr-reit.com.sg