131 ANNUAL REPORT 2025 Corporate Governance The Chairman of each Board Committee is paid a higher fee as compared with the members of such Board Committees in view of the greater responsibilities carried by chairing that office in addition to their existing roles. In putting in place its remuneration framework, the Manager had engaged the assistance of an external consultant, Aon Solutions Singapore Pte. Ltd., which is a global human capital and management consulting firm, providing a complete array of consulting, outsourcing and insurance brokerage services.. The consultant is not related to the Manager, its controlling shareholder, its related corporations or any of its Directors, which would affect its independence and objectivity. The Manager will continue to periodically review the need to engage an external consultant for the purposes of reviewing the remuneration framework. The NRC had approved the Manager’s remuneration structure which addresses four key objectives, namely: • Unitholder alignment: to incorporate performance measures that are aligned to Unitholders’ interests; • Long-term orientation: to motivate employees to drive sustainable long-term growth; • Simplicity: to ensure that the remuneration structure is easy to understand and communicate to stakeholders; and • Value Creation: amount of value-add contributed by the individual, including but not limited to deal introduction to UHREIT, cost-savings ideas and initiatives which have the potential of increasing the performance of UHREIT and measured based on the monetary benefit or cost-savings which UHREIT receives as a result of the value-add contributed by the individual Director and a KMP. The Code and the Notice to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management (issued pursuant to Section 101 of the SFA) require (i) the disclosure of the remuneration of each individual Director and the CEO on a named basis with a breakdown (in percentage or dollar terms) of each Director’s and the CEO’s remuneration earned through base/fixed salary, variable or performance-related income/bonuses, benefits in-kind, stock options granted, share- based incentives and awards, and other long-term incentives; (ii) the disclosure of the remuneration of at least the top five key management personnel (who are neither Directors nor the CEO) in bands of S$250,000, with a breakdown (in percentage or dollar terms) of each key management personnel’s remuneration earned through base/fixed salary, variable or performance related income/bonuses, benefits-in-kind, stock options granted, share-based incentives and awards, and other long-term incentives; and (iii) the disclosure of the aggregate total remuneration paid to the top five key management personnel (who are neither Directors nor the CEO). In the event of non-disclosure, the Manager is required to give reasons for such non-disclosure. The Board is cognisant of the requirements under Principle 8 and Provision 8.1 of the Code for listed issuers to make certain remuneration disclosures, inter alia, the amounts and breakdown of the CEO’s remuneration, and the names, amounts and breakdown of the remuneration of at least the top five key management personnel (who are not Directors or the CEO) in bands no wider than S$250,000 and in aggregate the total remuneration paid to these key management personnel. After careful consideration, the Board has decided (a) to disclose the exact amount and breakdown of the CEO’s remuneration; (b) not to disclose the remuneration of its top five KMP (who are not Directors or the CEO), on a named basis, in bands of S$250,000; and (c) not to disclose the aggregate remuneration paid to its top five KMP (who are not Directors or the CEO) on the following grounds: (a) the competition for talent in the REIT management industry is very keen and there is a need to minimise the potential staff movement which would cause undue disruptions to the Management team; (b) it is important that the Manager retains its competent and committed staff to ensure the stability and continuity of business and operations of UHREIT;
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