ESR-REIT Annual Report 2024 189 Scope of Verification The scope of the verification included evaluation of quality, accuracy, and reliability of disclosed and specified performance information. The limited assurance external verification agreed with ESR-REIT includes the performance level of the following KPIs: Key Performance Indicators Scope Reported Value Units KPI 1: Energy intensity (excluding Solar Energy) in common areas Multi-Tenanted Buildings (MTBs) in Singapore 176.3 kWh/sqm KPI 2: Water intensity in common areas Multi-Tenanted Buildings (MTBs) in Singapore 2.56 m3/sqm KPI 3: Solar power capacity Multi-Tenanted Buildings (MTBs) and SingleTenanted Buildings (STBs) in Singapore 15.5 MWp Reported values for KPI 1, 2 and 3 in 2024 is calculated based on the updated KPI quantification approach as documented in the Basis of Environmental Targets dated 12 March 2025, which was developed by ESR-REIT. Thus, where applicable, the baseline performance in 2023 will be restated to conform with the updated approach to ensure comparability. For the avoidance of doubt, assessing the accuracy or conformance of the restated baseline to the updated KPI quantification approach is beyond the scope of the current engagement. Verification Methodology The verification comprised a combination of pre-verification research, interviews with relevant employees such as the asset management and property management team member(s) at ESR-REIT, documentation and data records review as well as data validation carried out from 16 January 2025 to 13 March 2025. The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. SGS’ approach is risk-based, drawing on an understanding of the risks associated with modelling KPI information and the controls in place to mitigate these risks. Our examination included assessment, on a sample basis, of evidence relevant to the voluntary reporting of KPI’s and related themes. Limitations and Mitigation SGS assurance engagements are based on the assumption that the data and information provided by ESR-REIT have been provided in good faith, are true, and are free from material misstatements. Because of the selected nature (sampling) and other inherent limitation of both procedures and systems of internal control, there remains the unavoidable risk that errors or irregularities, possibly significant, may not have been detected. Statement of Independence and Competence The SGS Group of companies is the world leader in inspection, testing and verification, operating in more than 140 countries and providing services including management systems and service certification; quality, environmental, social, and ethical auditing and training; environmental, social and sustainability report assurance. SGS affirms our independence from ESR-REIT, being free from bias and conflicts of interest with the organisation, its subsidiaries, and stakeholders. The verification team was assembled based on their knowledge, experience, and qualifications for this assignment, and comprised auditors and sustainability professionals specializing in the Environmental, Social, and Governance (ESG), environmental and carbon fields. The verification team conducted the engagement in accordance with the SGS Code of Integrity.
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