The Directors’ fees1 for FY2024 are set out in the table below. Non-Executive Directors who are full-time employees of the Manulife Group do not receive any Directors’ fees. Name of Directors Base Salary inclusive of Employer’s CPF (S$) Variable or Performance Related Income/ Bonuses inclusive of Employer's CPF (S$) Benefits-In-Kind (S$) Directors' Fixed Fees paid in FY2024¹ (S$) Marc Lawrence Feliciano2 – – – – Koh Cher Chiew Francis3 – – – 133,731 Veronica Julia McCann4 – – – 105,269 Choo Kian Koon5 – – – 98,345 Karen Tay Koh6 – – – 117,595 1. Fees are prorated for directors who occupied the position for part of the financial year. 100.0% of the Directors' remuneration for FY2024 are paid wholly by way of the Directors' fixed fees. 2. As Mr Marc Lawrence Feliciano is an employee of the Sponsor Group, no fee is budgeted and payable by the Manager. 3. Professor Koh Cher Chiew Francis’s fee includes an additional lead independent director’s fee proposed to commensurate him for his role as the Lead Independent Director. Professor Koh was appointed as the Chairman of the ARC on 17 June 2024 following the stepping down of Ms Veronica Julia McCann on the same date. 4. Ms McCann stepped down as Chairman of the ARC on 17 June 2024 but remains a member of the ARC. 5. Dr Choo Kian Koon stepped down as Chairman of the NRC on 1 May 2024 but remains a member of the NRC. 6. Mrs Karen Tay Koh was appointed as the Chairman of the NRC on 1 May 2024. There is no employee who is a substantial Unitholder of MUST or substantial shareholder of the Manager, or immediate family member of a Director, the CEO, a substantial Unitholder of MUST or a shareholder of the Manager, and whose remuneration exceeds S$100,000 for FY2024. The exact remuneration paid to or payable to the CEO for the financial year ended 31 December 2024 is as follows:- Base Salary inclusive of Employer’s CPF (S$) Variable or Performance- Related Income/ Bonuses inclusive of Employer’s CPF (S$) Benefits-in-Kind (S$) RSUs (S$) Total Remuneration for FY2024 (S$) John Casasante¹ 329,113 - 12,756 - 341,869 1. Mr John Casasante was appointed as the CEO and Chief Investment Officer (“CIO”) (Designate) of the Manager on 8 April 2024. He officially took over as CEO and CIO on 30 June 2024. The remuneration disclosed is for the period from 8 April 2024 to 31 December 2024. Mr Casasante succeeded Mr Tripp Gantt who stepped down as the CEO with effect from the same date. For the period from 1 January 2024 to 30 June 2024, Mr Gantt earned a total remuneration of S$283,940, of which 94% was the base salary (inclusive of employer's CPF), 0% was the variable or performance-related bonus (inclusive of employer's CPF), 6% was the benefits-in-kind and 0% were RSUs. The remuneration paid to or payable to each of the other key executive officers, in bands of S$250,000, for the financial year ended 31 December 2024 is as follows:- 2024 Remuneration Band and Names of Key Executive Officers1, 2, 3, 7 Base Salary inclusive of Employer’s CPF (%) Variable or Performance- Related Income/ Bonuses inclusive of Employer’s CPF⁵ (%) Benefits-inKind (%) RSUs⁶ (%) S$250,000 to S$500,000 Mushtaque Ali⁴ 93 0 7 0 Choong Chia Yee 78 17 4 1 Daphne Chua 75 23 1 1 Total for Key Executives (excluding CEO) S$1,209,209 1. The Manager has less than five key executive officers other than the CEO as at 31 December 2024. 2. Ms Caroline Fong served as the Deputy CEO of the Manager up until 30 June 2024 when she stepped down from her roles as Deputy CEO. For the period from 1 January 2024 to 30 June 2024, Ms Fong’s total remuneration falls within the band of S$250,000 to S$500,000. 3. Mr Patrick Browne served as the CIO of the Manager up until 30 June 2024 when he stepped down from his roles as CIO. For the period from 1 January 2024 to 30 June 2024, Mr Browne’s total remuneration falls within the band of S$250,000. 4. Mr Mushtaque Ali was appointed as the Chief Financial Officer (“CFO”) (Designate) of the Manager on 12 April 2024. He officially took over as CFO on 30 June 2024. The remuneration disclosed is for the period from 12 April 2024 to 31 December 2024. Mr Ali succeeded Mr Robert Wong who stepped down as the CFO with effect from the same date. For the period from 1 January 2024 to 30 June 2024, Mr Wong’s total remuneration falls within the band of S$250,000 to S$500,000. 5. The amounts disclosed relate to bonuses paid in 2024. 6. The RSUs granted to eligible employees with MUST units granted in 2021, and vested and paid in 2024. 7. Ms Wylyn Liu was appointed as the Head of Investor Relations of the Manager on 1 January 2025, as such, there will be no disclosures of her remuneration. ANNUAL REPORT 2024 | 127
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