Driving Sustainable Growth Economic Sustainability The Manager established a strategic roadmap to restore growth, comprising the Recapitalisation Plan and the Growth and Value Up Plan. The Recapitalisation Plan’s stabilisation phase strengthens MUST’s financial foundation, while the Growth and Value Up Plan targets diversification into higher yield sectors, asset optimisation, and long-term Unitholder value creation. The Manager successfully secured Unitholder support for the Growth and Value Up Plan at the EGM held in December 2025. Governance Framework Guided by Manulife’s robust governance framework, the Manager upholds high corporate governance standards and strong risk management, allocating resources effectively, enhancing resilience, and driving sustainable long-term value. The Manager has a zero-tolerance policy toward fraud, corruption, and unethical behaviour. MUST’s merit-based Board Diversity Policy promotes diversity across gender, age, nationality, education, experience, skills, knowledge, and independence to enhance effectiveness and support sustainable growth. Engaging Investors To provide regular updates on the Recapitalisation Plan, address concerns, and support EGM resolutions on the Growth and Value Up Plan, external stakeholders were engaged via briefings, webinars, investor meetings, and luncheons. MUST supports industry development and best practices as a REITAS member and through initiatives with REITAS and SGX. The Asset Manager also engages in various sustainability-focused industry groups and initiatives, helping to shape industry standards while remaining at the forefront of sustainability advancements. MUST Sustainability Report 2025 For more information on sustainability disclosures and metrics, please refer to the MUST Sustainability Report 2025 on the corporate website (available at https://www. manulifeusreit.sg/sustainability-overview). Town hall meet-and-greet session at Penn, Washington, D.C. Urban farm kiosk at Michelson, Irvine Kayak water cleanup at Marina Reservoir, Singapore / 63 / MANULIFE US REIT
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