Anti-Corruption As an SGX-ST listed REIT, we ensure our business practices comply with the relevant industry standards outlined in the MAS's Code of Corporate Governance 2018. Our risk management is supported by various policies and programmes, including the Manulife Code of Business Conduct and Ethics, the Investor Relations Policy, and the Whistle-Blowing Policy, all of which are publicly available on our website. Employees can also access relevant anticorruption policies on the employee intranet. All employees are required to complete the Group annual training on Information Technology Protection, Code of Business Conduct and Ethics, as well as Anti-Money Laundering and Anti-Terrorist Financing. This training ensures they understand the importance of complying with relevant laws and informs them about the rules regarding entertainment and gifts. significance of abiding by relevant laws and informs them of rules pertaining to entertainment and gifts. Employees are required to update their Conflict of Interest Disclosure questionnaire annually and whenever a real or potential conflict of interest arises. In 2024, all of our employees and board members have completed the mandatory anti-corruption training and are aware of the Group’s anti-corruption policies. Additionally, during the Reporting Period, we did not record any instances of corruption. ENGAGING INVESTORS As the REIT's Manager, we are dedicated to providing material, timely, and accurate information disclosures. We maintain regular communication with the investment community, including institutional and retail investors, analysts, media representatives, and financial bloggers. These engagements allow us to gather feedback and address any concerns they might have. Our engagement activities are conducted in accordance with SGX-ST requirements and our Investor Relations Policy, ensuring we adhere to relevant regulatory standards. Our key modes of engagement can be found on pages 74 to 75 (within the table under Stakeholder Engagement). Engagement Initiatives in 2024 During the year, the investment community was largely concerned about the progress of MUST’s Recapitalisation Plan, specifically on its asset disposition progress. To keep investors apprised of our progress, we continued to engage stakeholders through multiple communication channels such as briefings, webinars, one-to-one investor engagements, luncheons, press releases, email newsletters, and LinkedIn posts to address questions and concerns from the investment community. We engaged over 850 investors, media representatives and analysts during the year. This was fewer than the 2,000 stakeholders in 2023 as we had planned significantly more briefings and events to address the investment community’s concerns over our breach in financial covenant as well as secure Unitholders’ support for our Recapitalisation Plan in 2023. In 2024, there was also a transition in management team which led to a slowdown in engagement activities as the new team settled in and consolidated their going-forward strategy. Together with Phillip Securities, we hosted a webinar where our CEO & CIO, John Casasante, and CFO, Mushtaque Ali, shared about MUST’s operational updates and strategic direction. We continue to organise biannual ‘live-streamed’ results briefings which are available to the investment community. The recordings of these briefings are published on MUST’s corporate website to maintain transparency. We also launched new initiatives such as transcripts and quarterly supplemental data documents to complement our announcements and briefings, providing more convenience for the investment community. Analysts, media, and investors value these engagement opportunities as they provide them with direct access to management and enhance their understanding of MUST’s direction and performance. For more details on our investor engagement efforts, please refer to the Investor and Media Relations section on pages 55 to 58 in our Annual Report 2024. Strategic Memberships, Collaborations and Accolades As a member of REITAS, MUST is committed to strengthening and promoting the Singapore REIT industry through education, research, and professional development. MUST supports initiatives promoted by REITAS and SGX that encourage best practices in investing and sustainability. Our Asset Manager actively engages in various sustainability industry groups and initiatives to contribute to industry standards and stay at the forefront of the sustainability developments. For more information, please refer to Manulife Investment Management Stewardship Report 2023, pages 113 to 120. ANNUAL REPORT 2024 | 97
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