40 | CITY DEVELOPMENTS LIMITED Diversity Targets and Progress in FY 2025 Skills Diversity Target Maintain the Board’s core skills set which include the areas of finance/audit, risk management and management expertise. Progress Ms Jennifer Young and Ms Wong Su Yen were appointed IDs on 7 February 2025. Ms Young, with her accounting background and extensive expertise in finance, audit and treasury within the financial services industry, strengthens the Board’s finance and audit competencies. She has held senior leadership positions and is also currently an independent NED (“INED”) of an SGX-listed company, which further enhances her Board oversight capabilities. Ms Wong has extensive experience in management and risk oversight, underpinned by more than 30 years of experience in business strategy, organisational transformation, human capital and leadership development, operations re-design and risk management across diverse industries. Her Board experience, serving as an INED on 2 other SGX-listed companies, further contributes to the Board’s ability to provide strategic direction and effective governance. Together, the appointments of Ms Young and Ms Wong significantly reinforce the Board’s collective skills set in the key areas identified as priorities, thereby supporting the Company’s governance and strategic objectives. 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 40% 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, being eight out of ten members of the Board. Age Diversity Target Maintain age diversity with Directors’ ages ranging from 50 to 85, with majority of Directors above 50 but below 70 years old. Progress The Board has continued to maintain this target. Ms Young and Ms Wong are within the age range of 50 to 70 years old. The NRC and Board 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 current composition of the Board and Committees 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
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