PEOPLE FIRST NURTURING OUR TALENT At MUST, we recognise that our success is largely dependent on our workforce. Through comprehensive training programmes and opportunities for both professional and personal development, we are dedicated to maximising the potential of our employees. We value providing a healthy work atmosphere that emphasises respect and supports open communication. This strategy improves our employees' sense of belonging within the company in addition to creating a cohesive team. Additionally, by gathering professionals with a range of backgrounds, experiences, and skill sets, we use diversity as a competitive advantage. This wide range of perspectives fosters creativity and improves our overall organisational potential. Diversity, Equal Opportunity, and Non-Discrimination We are committed to cultivating a diverse and dynamic workforce, recognising that diversity, equity, and inclusion play crucial roles in attracting and retaining top talent. MUST adheres to Manulife's principles of diversity, equity, and inclusion (DEI) to create a work environment where every employee can reach their full potential. The execution of Manulife's global DEI strategy is led by the Global Chief Diversity, Equity, and Inclusion Officer, with guidance, support, and facilitation provided by the Global DEI Council. Manulife is focused on four key pillars to drive change: During the Global Diversity Awareness Month in October 2024, “Wear Your Culture Day” was organised. Employees were encouraged to don their traditional costumes in Our Workforce Diversity at all levels in the organisation that is reflective of the communities we serve Our Workplace Employees thrive because they belong and can bring their authentic selves to work Our Business Stronger business opportunities when we incorporate DEI in the development and delivery of products and services Our Community Strong partnerships and DEI support in the external communities in which we live, work and serve celebration of cultural diversity. For International Women’s Day, employees were encouraged to wear purple to recognise the contributions of women in our lives and workplaces and stand united in our support for accelerating gender equity. To foster an inclusive and supportive workplace for all employees, Manulife supports Employee Resource Groups (ERGs), which are structured and designed to support employees with shared identities and who are part of marginalised groups that face barriers related to race, ethnicity, gender, age, sexual orientation, or cultural backgrounds. They are volunteer led groups that provide a space for employees to build networks, share experiences, and contribute to our global inclusion efforts. We adopt a zero-tolerance policy against workplace discrimination, ensuring fair and equal treatment for all employees. Together with Manulife’s Singapore office, we uphold our commitment to the five key principles of the Tripartite Guidelines on Fair Employment Practices (TGFEP). Our membership in the Singapore National Employer Federation further demonstrates our commitment to fair and responsible employment practices. We also comply with the Tripartite Guidelines on Flexible Work Arrangement Requests (TG-FWAR), allowing employees to formally request flexible work arrangements and ensuring proper consideration and response to such requests. Our commitment to human rights and anti-discrimination is further solidified by Manulife Code of Business Conduct and Ethics, which is publicly accessible on both the Sponsor's and MUST's corporate websites. Additionally, a comprehensive Discrimination, Harassment, and Workplace Violence Policy is in place to address sexual harassment, enforce zero tolerance for discrimination, mandate employee training on these issues, outline corrective actions for discriminatory behaviour, and provide a clear mechanism for reporting incidents. In 2024, the Manager has not been notified of any instances of discrimination or other human rights infringements across its operations. This commitment also resonates with our gender diversity efforts. As at the end of 2024, the Manager’s workforce comprised 16 full-time permanent employees, including 11 females and 5 males. Fourteen employees are based in Singapore and two employees are based in the U.S. Please refer to the Appendix: 2024 ESG Data Summary for the complete workforce breakdown. Fair Employment At MUST, we are committed to upholding human rights principles and implementing fair employment practices. Our approach to recruitment, career advancement, and compensation is grounded in diversity and inclusion principles. The Sponsor's Human Resource (HR) committee is responsible for overseeing employee remuneration. Our HR practices take into account both external business and economic factors, as well as internal feedback gathered ANNUAL REPORT 2024 | 87
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