Director Orientation The NRC ensures that new Directors are made aware of their duties and obligations. A formal letter is sent to newly appointed Directors upon their appointment explaining their roles, duties, obligations and responsibilities as a Director under the Companies Act 1967 and the SGX-ST Listing Rules. New directors participate in an orientation program with formal training to increase their knowledge of MUST’s business, strategies and directions as well as the regulatory environment in which MUST operates as well as the main corporate governance practices of the Manager. Together with the appointment letter, newly appointed Directors also receive a tablet device to access a secure board portal containing, inter alia, the terms of references of the Board Committees, Compliance Manual, various policies, the Manager’s Constitution, and minutes of past Board, Board Committee and general meetings to familiarise themselves with MUST’s activities. The Manager also arranges sessions with key management personnel on a wide variety of relevant subjects to help new directors gain a deeper understanding of its strategic priorities, businesses and challenges. All Directors have a standing invitation to attend Committee meetings whether or not they are a member, and new Directors are encouraged to do so as part of their orientation. Director Development/Training In view of the increasingly complex and multi-dimensional role of a director, the Board and the Manager recognise the importance of ongoing professional development to ensure directors remain updated on regulatory changes, industry development and matters relevant to their responsibilities. Directors understand MUST’s business as well as their directorship duties (including their roles as non-executive and independent directors). The NRC is tasked to review and decide on training and professional development programmes for the Board. The Board receives regular updates from Compliance on any new and material changes to applicable regulations, including MAS and SGX-ST regulatory changes, as well as their implications on MUST and the Manager. The Manager also encourages Directors to participate in external professional development programmes and reimburses related expenses. Directors are also encouraged to put forward to the NRC training topics on which they would like to receive training. In FY2025, the Directors participated in various training and professional development programmes, courses and seminars, including (but not limited to) the following: Date Topic Organiser Market Landscape January 2025 MUST Insights - U.S. Office Outlook: Key Trends Shaping the Landscape Jones Lang LaSalle (JLL) August 2025 U.S. Corporate Real Estate Market Update JLL Climate & Sustainability March 2025 A Director’s Guide for Navigating Climate Change SID May 2025 ISSB Standards & Sustainability Reporting JLL July 2025 Climate Governance Singapore Focus 2025 SID July 2025 Climate-related Risk Assessment and Integrating Climate Risks into Risk Management Processes KPMG Singapore Thematic Topics July 2025 Cyber Resilience for Board Directors SID July 2025 SID-Ensign InfoSecurity Cyber Crisis Simulation Workshop for Board Directors SID October 2025 Cyber Resilience Training for Board Directors SID Corporate Governance, SGX & MAS REITS Regulatory June 2025 2025 Online Rules & Ethic Course REIT Association of Singapore (REITAS) September 2025 SID Directors Conference 2025 SID September 2025 REITAS Annual Conference REITAS All Directors have undergone the required sustainability-related training as prescribed by SGX-ST and attended both Management briefings and external experts' sharing on ESG-related matters, including specific discussions on climate strategy and targets. These briefings form part of the Board’s ongoing development to ensure Directors remain equipped to oversee sustainability matters in line with evolving regulatory expectations. CORPORATE GOVERNANCE / 68 / EXPANDING HORIZONS
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