When conducting the remuneration framework review, the NRC takes into account the performance of ECW and individual performance. Annual performance targets are aligned to the business strategy for ECW Group and linked to the performance of ECW. Individual performance is measured via the KMP’s annual appraisal based on competencies and key performance indicators. Disclosure on Remuneration Principle 8: Remuneration policies, level and mix of remuneration, procedure for setting remuneration, and relationships between remuneration, performance and value creation. Disclosure of the remuneration of Directors and Key Management Personnel (Provisions 8.1, 8.3) 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, and (ii) the disclosure of the remuneration of at least the top five KMP of the Manager (who are neither Directors nor the CEO) in bands of S$250,000. Information on the fees of the IDs and NED for FY2024 is set out below: Board Members FY2024 FY2023 Chan Heng Wing 119,000 99,000 Zhang Guobiao* 80,000 100,000 Wong See Hong 82,500 90,000 Li Guosheng 75,000 75,000 Chia Yew Boon 77,500 70,000 * Mr Zhang Guobiao resigned from the Board as Non-Independent Non-Executive Director with effect from 14 April 2025. Pursuant to Listing Rule 1207(10D), the CEO’s remuneration in FY2024 is as follows: Remuneration of CEO/ Executive Director Basic Salary Bonus Other Benefits Total Goh Toh Sim 98% 0% 2% $451,288 Given the commercially sensitivity and confidential nature of remuneration matters of the REIT management industry, the Board believes that disclosing the remuneration of the KMP of the Manager in exact quantum is not in the best interests of ECW and its Unitholders. In view of the highly competitive human resource environment, it is important for the Manager to retain talent for the long-term interests of ECW and its Unitholders, and ensure stability and continuity of business operations with a competent and experienced management team are in place. The current management team has been stable and to ensure continuity of business and operations of ECW, it is important that the Manager continues to retain its team of competent and committed staff. Remuneration of the KMP (who are not Directors or the CEO) in bands of S$250,000 for FY2024 is as follows: Remuneration Band and Name of KMP (other than Directors and CEO) Basic Salary Bonus Other Benefits Total S$250,000 to S$500,000 Wang Feng 95% 0% 5% 100% The Manager has only one KMP other than its one Executive Director and CEO for FY2024. EC WORLD REIT 52 CORPORATE GOVERNANCE
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