Notes to the Financial Statements For the financial year ended 31 December 2025 29. RELATED PARTIES For the purposes of these financial statements, parties are considered to be related to the Group if the Manager or the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Manager and the party are subject to common significant influence. Related parties may be individuals or other entities. The Manager and the Property Manager are indirect subsidiaries of a substantial Unitholder of the Trust. Other than as disclosed elsewhere in the financial statements, the following significant related party transactions were carried out in the normal course of business on terms agreed between the parties: Group 2025 2024 $’000 $’000 ESR-REIT Management (S) Limited (the Manager) Management fees paid and payable in: – cash 8,303 7,728 – Units 12,262 11,460 Acquisition fees paid in Units – 7,552 Development management fees paid and payable in cash 116 77 Divestment fees paid in cash 79 465 ESR Property Services Pte. Ltd. (Subsidiary of immediate holding company of the Manager) Property and lease management fees paid and payable in: – cash 7,812 6,215 – Units 3,064 2,940 Lease marketing services commission paid and payable in cash 7,643 6,152 Project management fees paid and payable in cash 177 266 Site staff cost recovery 1,493 1,455 Property tax services fees paid and payable in cash – 3 Perpetual (Asia) Limited (the Trustee) Trustee fees paid and payable 652 543 202 ESR-REIT ANNUAL REPORT 2025
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