offering educational presentations on topics such as cyber wellness, psychological safety, and self-awareness. As a leading insurance company, insurance packages are available to all employees and their family members through the Staff Purchase Discount Scheme. Additionally, complimentary corporate passes to local attractions are available to all employees. These initiatives enhance productivity, boost employee satisfaction, and aid in retaining top talent, thereby promoting organisational excellence. At MUST, employee well-being remains fundamental in fostering a positive work environment. Hybrid work arrangements remain available to all employees, allowing them to manage professional and personal responsibilities effectively. This flexibility enhances work-life balance and job satisfaction, thereby supporting employee well-being and contributing to their success within the organisation. Encouraging Stock Ownership MUST employees have the opportunity to participate in the Group's Global Share Ownership Plan (GSOP), with the Group matching contributions at varying rates as a percentage of the employee's investment based on the employee's geographic location. All funds are used to purchase common shares on the open market, and these shares are immediately vested, giving employees instant ownership and a stake in the company's success. In 2025, 56.3% of the Manager’s employees participated in GSOP, and 62.5% were registered in employee stock scheme registration, including those receiving restricted share units under the Long-Term Incentive Scheme. Respect for Freedom of Association The Manager is committed to supporting employees' rights to freedom of association and trade union membership. While the Manager is not a unionised entity, it operates in accordance with Singapore's Industrial Relations Act. This legislation allows employees the option to be represented by trade unions for collective bargaining purposes. Additionally, the framework provides employees with a mechanism to seek resolution in the event of disputes, ensuring transparency and fairness in employee relations. Grievance Mechanism The Manager adheres to the Group’s principles through formal grievance reporting and escalation procedures, ensuring a workplace free from discrimination, harassment, and violence. A confidential whistle‑blowing channel has been established, detailed in the Whistle‑Blowing Policy, with clear escalation processes. This system enables employees to raise concerns to relevant management personnel, ensuring necessary actions are taken when required. All whistle‑blowing reports are referred to an independent function for assessment and, where appropriate, investigation. External advisers may be engaged to ensure investigations are conducted independently and objectively. Investigation findings and recommended remedial actions are reported to the ARC. The ARC oversees and monitors the whistle‑blowing framework, including reviewing the adequacy and effectiveness of investigations and ensuring appropriate follow‑up actions by management. Matters warranting escalation are brought to the Board. The whistle-blowing channel is managed independently by a third-party under ARC's oversight. Employees have the anonymous access to whistle-blowing channel through hotlines and online facilities. All advice and concerns are treated with strict confidentiality. Employees are encouraged to discuss any concerns or questions about business practices or potential conflicts of interest with their immediate supervisors. Retaliation against individuals who report unlawful or unethical behaviour in good faith is strictly prohibited. For further details on whistle-blowing efforts, please refer to the Corporate Governance section on page 81 in the Annual Report 2025. Safeguarding Health and Well-Being Guided by the Group’s Global Health and Safety policy, the Manager is committed to maintaining a safe and healthy workplace in compliance with legislative occupational health and safety standards. Occupational Health & Safety (OHS) The Group’s Health and Safety policy is kept current through annual policy reviews approved by the Group’s Global Head of Employee Relations, with senior management responsible for enforcing the policy and ensuring employee safety by maintaining safe equipment and adherence to work practices. Employees are responsible for adhering to the Group’s occupational health and safety procedures, while contractors and their workers must comply with local health and safety requirements. The Sponsor enforces health and safety through regular monitoring, education, and training, with performance evaluations conducted through meetings between Property Managers and the Manager. Additionally, a comprehensive Business Continuity Management Programme is in place to ensure preparedness for emergencies, including regular pandemic response drills and emergency exercises. In 2025, there were no recorded accidents, injuries, or health and safety violations among employees and workers at the Manager’s workplace or properties, with zero fatalities, high‑consequence injuries1, or recordable injuries2. On average, 14 workers operated within the Asset Manager and Property Manager teams. Tenants’ Health & Wellness The Manager recognises its duty to ensure the safety of tenants and users within its properties. The Asset Manager enforces safety and security through emergency protocols and compliance with safety regulations while conducting comprehensive risk assessments for health and well-being 1 According to GRI, a high-consequence work-related injury is one that results in a fatality or in an injury from which the worker cannot, does not, or is not expected to recover fully to pre-injury health status within six months. 2 According to GRI, a recordable injury is one that results in any of the following: death, days away from work, restricted work or transfer to another job, medical treatment beyond first aid, or loss of consciousness; or significant injury or ill health diagnosed by a physician or other licenced healthcare professional, even if it does not result in death, days away from work, restricted work or job transfer, medical treatment beyond first aid, or loss of consciousness. / 27 / MANULIFE US REIT
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