Additional Information (A) INTERESTED PERSON TRANSACTIONS (“IPTS”) (CONT’D) (1) The entry into and the fees payable pursuant to the Trust Deed (as amended) have been approved by Unitholders upon the subscription of Units at the initial public offering of ESR-REIT on the SGX-ST in July 2006 and/or at relevant extraordinary general meetings convened from time to time, and are therefore not subject to Rule 905 and Rule 906 of the SGX-ST Listing Rules. (2) The entry into and the fees payable pursuant to the Singapore property management agreements have been approved by the Unitholders in the Extraordinary General Meeting held on 26 April 2023 and such fees shall not be subject to the aggregation or further Unitholders’ approval requirement under Rule 905 and Rule 906 of the Listing Manual to the extent that there is no subsequent change to the rates and/or bases of the property management fees in respect of the Singapore properties and related expenses thereunder which will adversely affect ESR-REIT. (3) Pertains to power purchase agreements entered into with a subsidiary of ESR Group (the “Supplier”) for the Supplier to install solar photovoltaic generating systems, at its own cost, at 22 Singapore properties of ESR-REIT (the “Properties”), and to supply all renewable electricity generated by the solar photovoltaic generating systems to the Properties. The reported value of the IPT relates to the estimated renewable energy costs payable by ESR-REIT to the Supplier for the Properties over varying contract periods ranging from 5 to 20 years. For the purpose of the disclosure, the full contract sum was used where an IPT had a fixed term and/or contract value, while the annual amount incurred and/or accrued was used where an IPT had an indefinite term and/or where the contract sum was not specified. Except as disclosed above, there were no additional IPTs (excluding transactions of less than $100,000 each) entered into up to and including 31 December 2025 or any material contracts entered by ESR-REIT or any of its subsidiaries that involve the interests of the CEO, any Director or any controlling Unitholder of the Trust. Please also see Related Parties in Note 29 to the financial statements. The Group has not obtained a general mandate from Unitholders pursuant to Rule 920 for any IPTs. (B) RATIO OF TOTAL OPERATING EXPENSES TO NET ASSET VALUE The CIS Code requires that the total operating expenses (including all fees and charges paid to the Manager and interested parties) be disclosed in both absolute terms and as a percentage of the net asset value of the Trust as at the end of the financial year. The total operating expenses of ESR-REIT, including all fees and charges paid to the Manager and interested parties, to the net asset value is as follows: 2025 2024 Total operating expenses, including all fees, charges and reimbursables paid to the Manager and interested parties ($’000) 157,600 149,590 Net asset value ($’000) 2,055,640 2,213,895 Percentage of total operating expenses to net asset value (%) 7.7 6.8 225 ESR-REIT ANNUAL REPORT 2025
RkJQdWJsaXNoZXIy NTM2MDQ5