CORPORATE GOVERNANCE 80% of the Board attended various training seminars and workshops in 2024 Accounted for more than 155.5 training hours in aggregate For a first-time Director who has no prior experience as a director of a listed company, in addition to the induction programme as detailed above, he/she will be required to also attend certain specific modules of one of the training programmes conducted by the Singapore Institute of Directors (“SID”) or jointly by the Institute of Singapore Chartered Accountants and SAC Capital, to acquire relevant knowledge of what is expected of a listed company director, this being a mandatory requirement under the SGX-ST Listing Manual (the “Mandatory Training”). Completion of the Mandatory Training, which focuses on comprehensive training of company directors on compliance, regulatory and corporate governance matters, should provide the first-time Director with a broad understanding of the roles and responsibilities of a director of a listed company under the requirements of the Companies Act 1967, the Listing Manual and the CG Code. A first-time director need not attend the Mandatory Training if the NC (currently, the NRC), in assessing the relevant experience of the director, is satisfied that he/she possesses relevant experience comparable to that of a person who has served as a director of an issuer listed on SGX-ST. Where such an assessment is made by the NC, the reasons are disclosed in the announcement made on the appointment of the director. Two new Directors, namely Ms Jennifer Young and Ms Wong Su Yen, both of whom have listed company experience, were appointed as IDs of the Company on 21 February 2025. Ms Wong is currently a director of a few listed companies while Ms Young is a director of a listed company. The Company will schedule induction training for the newly appointed Directors as well as for existing Directors who have been appointed to various Committees. The Board recognises that it is important for Directors to undergo continual training/development. From time to time, the Directors are provided with updates and/or briefings by professional advisers, auditors, Management and the Company Secretaries in areas such as directors’ duties and responsibilities, corporate governance practices, relevant legislations and regulations, risk management and financial reporting standards. They are also regularly kept informed by the Company Secretaries of the availability of relevant courses, conferences and seminars, including those conducted by the SID, and the Directors are encouraged to attend such training at the Company’s expense. The NC and the Board were kept informed of the training sessions attended by the Directors during the year. As part of the NC’s annual assessment of the skill set of the Board and the Committees, the NC would also recommend further training for the Directors in specific areas, if required, to supplement the regular updates/briefings provided to the Directors from time to time. No such training was recommended by the then NC during the year. During the year, training sessions attended by the Directors included the SID Audit and Risk Committee Seminar 2024, SID Directors Conference 2024, SID Nominating Committee Programme, Current Topics Programme, briefings and seminars organised by SID, Climate Governance Singapore, audit professionals, legal professionals, and other consultants in relation to financial, cybersecurity, sustainability, climate reporting matters and Understanding Directors’ Duties in Climate Risk. In-house seminars were also organised in 2024 and conducted by invited external speakers on the following topics: • Sustainability Forum – Forward Faster towards Business Sustainability • Artificial intelligence in building operations; and Anti Money Laundering update and trends Members of the ARC were also provided with regular briefings from the Company’s external auditors on applicable Accounting Standards and a session on Board Oversight of Sustainability Reporting and ESG during the year. Further to the training courses/programmes and briefing updates, Directors are also at liberty to approach Management should they require any further information or clarification concerning the Company’s operations. CORPORATE GOVERNANCE REPORT CITY DEVELOPMENTS LIMITED 4
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