The following table outlines the Board’s diversity targets set by the NRC, with the endorsement by the Board, as well as the progress in FY2025 in achieving those targets: Diversity Targets Progress in FY2025 Target Met (Yes/No) Ensuring the Board comprises members who collectively possess core competencies and/or experience in the following areas: — Real estate — International expertise in the areas that the REIT operates — Fund Management — Legal, Regulatory and Governance — Accounting — Financial Management — Human Capital Management — Information Technology, Digital Transformation — Strategic Planning — Sustainability The Board has achieved its current target of Board members collectively possessing at least 90% of the identified core competencies and/or experience. The NRC will continue to identify gaps in directors’ skills and strive to achieve the fulfilment of all the identified core competencies and/or experience by FY2026. Yes Ensuring at least 2 different ethnic groups are present within the Board As at the date of this annual report, the Board consists of members from 3 different ethnic groups. Yes Ensuring a diverse age range within the Board members As at the date of this annual report, the Board has members with ages across 40s, 50s, 60s and 70s. Yes Ensuring a diverse board tenure within the Board members As at the date of this annual report, the board tenure of the Board members is spread across the ’0-3 years’, 3-5 years’ and ’5-7 years’ categories. Yes Ensuring gender diversity with at least 2 female representatives on the Board and the appointment of female director as chairperson of the Board or the NRC As at the date of this annual report, the Board has 2 female representatives. Ms. Stefanie Yuen Thio is the Independent Non-Executive Chairperson of the Board. Yes Ensuring at least 1 Board member has no listed company board and/ or real estate nor funds management experience Dr. Julie Lo Lai Wan, who was appointed in FY2022, did not have prior listed company board experience during her appointment. As at the date of this annual report, she does not have other listed company board representation besides the Board of the Manager. In addition, Dr. Julie Lo Lai Wan, whose area of expertise is in healthcare, brings a broader range of perspectives to the Board and Management, particularly in relation to strategy and process deliberations. Mr. George Agethen, who was appointed in FY2023, did not have prior listed company board experience at the time of his appointment. Notwithstanding this, his regional and global real estate expertise strengthens the Board’s oversight of investment decisions and ESG practices, and provides valuable guidance to Management. Yes Ensuring at least 50% of the Board is independent As at the date of this annual report, at least 50% of the Board is independent1. Yes Note: 1 Refer to the below section on Board Independence and assessment of each director. 97 ESR-REIT ANNUAL REPORT 2025
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