The Directors’ fees for FY2025 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 Directors’ Fixed Fees paid in FY2025 (S$)a Marc Lawrence Felicianob - Koh Cher Chiew Francis 139,500 Veronica Julia McCann 99,500 Choo Kian Koon 94,500 Karen Tay Koh 123,500 Total 457,000 a No base or fixed salary, variable or performance-related income or bonuses, benefits-in-kind, RSUs or other long-term incentives were paid to the non-executive Directors. 100.0% of the Directors’ remuneration for FY2025 was paid wholly by way of the Directors’ fixed fees. b As Mr Marc Lawrence Feliciano is an employee of the Sponsor Group, no fee is budgeted and payable for the Manager. No employee of the Manager was a substantial Unitholder of MUST or substantial shareholder of the Manager, or an immediate family member1 of a Director, the CEO, a substantial Unitholder of MUST or a substantial shareholder of the Manager, and whose remuneration exceeds S$100,000 during FY2025. The exact remuneration paid to or payable to the CEO for the financial year ended 31 December 2025 is as follows:- Base Salary Inclusive of Employer’s CPF (S$) Variable or Performance Related Income/ Bonuses Inclusive of Employer’s CPFa (S$) Benefits-In-Kind (S$) RSUsb (S$) Total Remuneration for FY2025 (S$) John Casasante 415,180 568,412 24,787 - 1,008,379 a The amount disclosed relates to bonuses paid in cash in 2025. b No RSUs were granted, vested and paid to the CEO during the financial year. 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 2025 is as follows:- 2025 Remuneration Band and Names of Key Executive Officersª Base Salary Inclusive of Employer’s CPF (%) Variable or Performance Related Income/ Bonuses Inclusive of Employer’s CPFc(%) Benefits-In-Kind (%) RSUsd (%) S$500,000 to S$750,000 Mushtaque Ali 63 24 3 10e Daphne Chua 70 27 2 1 S$250,000 to S$500,000 Choong Chia Yee 70 26 3 1 Wylyn Liub 77 21 2 - Total for Key Executives (excluding CEO) S$1,975,001 a The Manager has less than five key executive officers, excluding the CEO as at 31 December 2025. b Ms Wylyn Liu was appointed as the Head of Investor Relations of the Manager on 1 January 2025. c The amounts disclosed relate to bonuses paid in cash in 2025. d Unless otherwise stated, the RSUs granted to eligible employees with MUST units were granted in 2022, vested and paid in cash in 2025. e The RSUs granted to eligible employees with Manulife Financial Corporation units were granted in 2022, vested and paid in cash in 2025. There were no termination, retirement and post-employment benefits granted to the Directors, CEO and key management personnel over and above what have been disclosed. CORPORATE GOVERNANCE 1 Immediate family member refers to the employee’s spouse, child, adopted child, step-child, brother, sister and parent. / 80 / EXPANDING HORIZONS
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