BOARD STATEMENT ON SUSTAINABILITY At MUST, we recognise the integral role that Environmental, Social and Governance (ESG) factors play in driving long-term value and sustainability within the property investment landscape. As a responsible organisation, we are committed to integrating ESG considerations into our business and strategy to deliver long-term economic value for our stakeholders and contribute to the environmental and social well-being of our communities. The Board of Directors (Board) provides oversight on the implementation, management and monitoring of MUST's sustainability matters, including material ESG topics. With support from the Sustainability Steering Committee (SSC), the Board and management regularly review material ESG topics and receive regular updates on the sustainability matters to ensure MUST achieves its sustainability targets and performance. 2 April 2025 also engaged its internal auditors to incorporate a riskbased internal review of the Sustainability Report as part of the risk-based audit plan during the financial year. The internal audit review was conducted in accordance with the International Standards for the Professional Practice of Internal Auditing issued by The Institute of Internal Auditors, and builds on the Manager's existing governance structure, buttressed by adequate and effective internal controls and risk management systems. The Manager will work with the Internal Auditors, on reviewing other aspects of the Sustainability Report, over the course of the riskbased internal audit cycle, which may span one or a few years in accordance with risk-based planning, as approved by the Audit Risk Committee (ARC). The Manager has not solicited external independent assurance for this report but will review the need for external assurance in the future. CONTACT We constantly strive to improve our sustainability disclosures for the investment community. Should you have any questions or feedback, kindly contact our sustainability team at usreitinquiry@manulifeusreit.sg. You can also find our most recent sustainability initiatives and updates on our website at https://www.manulifeusreit.sg/sustainability-overview. ANNUAL REPORT 2024 | 67
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