Diversity Targets and Progress in FY 2024 Skills Diversity Target Maintain the Board’s core skill set which include the areas of finance/audit, risk management, management expertise. Progress Mr Tan Kian Seng, a qualified accountant with many years of experience in senior positions, managing various international business, ceased as a Director of the Company (last day of service being 31 December 2024). Two new female IDs, namely Ms Jennifer Young and Ms Wong Su Yen were appointed on 7 February 2025. Ms Young has an accounting background with extensive expertise in finance, audit and treasury within the financial services industry holding senior positions. She is also currently an independent NED (“INED”) of an SGX-listed company. Ms Wong has extensive experience in business strategy, organisational transformation, human capital and leadership development, operations re-design and risk management with more than 30 years of experience across diverse industries. She is also an INED on the board of 3 other SGX-listed companies. Gender Diversity Target At least 25% female representation on the Board by 2025 with at least one female Board member on the NRC. Progress With the appointment of Ms Young and Ms Wong, the Board has achieved more than 30% female representation. Further, Mrs Wong Ai Ai was appointed as the NRC chair and Ms Wong as an NRC member, on 21 February 2025. Board Independence Target Maintain two-thirds independence on the Board. Progress The Board has continued to maintain this target. With the appointment of Ms Young and Ms Wong as IDs on 7 February 2025, the Board has achieved more than two-third Board independence. Age Diversity Target Maintain age diversity with Directors with ages ranging from below 50 to above 70, with majority of the Directors within the above 50 but below 70 age group. Progress The Board has continued to maintain this target. Ms Young and Ms Wong are within the age range of between 51 and 70 years. The NC (currently, the NRC) and Board also agreed that there was no need to set a specific target for ethnicity/ nationality so long as the candidates provide distinguishing qualities that complement and expand the skills and experience of the Board as a whole. Further information on the individual Directors’ background, experience and skills can be found in the ‘Board of Directors’ section in the annual report. Having considered the scope and nature of the operations of the Group, the Board agreed with the NRC that the revised composition of the Board and Committees with effect from 7 February 2025 and 21 February 2025, respectively, provide for diversity in line with the BDP with a good balance of skills, experience, industry knowledge, professional qualifications, gender and age, which serve to support the Company in achieving its strategic objectives and sustainable growth and development. CORPORATE GOVERNANCE REPORT 9
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