Diversity Targets, Plans and Timelines Targets Achieved / Progress Towards Achieving Targets Skills / Experience To ensure that the Directors, as a group, possess: (a) a variety of skill sets, including in core competencies, domain knowledge and other fields of expertise, such as finance, banking, real estate and investment management; and (b) a mix of industry experience, management experience and listed issuer board experience, by 2025, or (if applicable) to maintain such level of diversity in skill sets and experience during the period leading up to 2025. CLCT believes that diversity in skill sets would support the work of the Board and Board Committees and needs of CLCT, and that an optimal mix of experience would help shape CLCT’s strategic objectives and provide effective guidance and oversight of Management and CLCT’s operations. CLCT continually endeavours to deepen the bench strength of the Board with complementary and relevant expertise, including in the areas of investment management and sustainability. Achieved / Achieving Target – As at the end of FY 2023 and as at the date of this Annual Report, the Board comprises Directors who, as a group, possess a significant majority of the identified core skills and experience. The Board will continue to look for opportunities to strengthen certain skill sets. In terms of skill sets, the Board comprises Directors with a variety of skills and expertise in areas including investment management, real estate, accounting, finance, governance, sustainability, banking and capital markets. In terms of experience, the Board comprises Directors who are corporate and business leaders and who collectively have experience in general business management, have served on public listed company boards, have international or regional experience and have exposure in various industry sectors and the China market. The NRC, in carrying out its duties of determining the optimal composition of the Board in its Board renewal process and addressing Board vacancies, considers candidates who bring a diversity of background and opinion and have the appropriate industry or related expertise and experience. In identifying possible candidates and making recommendations of board appointments to the Board, the NRC’s considerations include achieving an appropriate level of diversity in the Board composition having regard to diversity factors such as skills, experience, gender, age and tenure, as well as educational, business and professional backgrounds of its members. In its annual review of the Board’s composition, the NRC expressly considers and includes a commentary to the Board on the subject of diversity, including gender diversity, in the composition of the Board. In this regard, the NRC has reviewed the size and composition of the Board and is of the opinion that the Board and Board Committees are of an appropriate size and comprise Directors who as a group provide the appropriate balance and diversity of skills, knowledge, experience, gender, age and tenure, taking into account CLCT’s Board diversity targets, plans and timelines, the objectives of the Board Diversity Policy and the CLCT Group’s business needs and plans, for effective decision-making and constructive debate. In line with the Board Diversity Policy, the current Board as at the date of this Annual Report comprises nine members who are corporate and business leaders, and are professionals with varied backgrounds, expertise and experience including in accounting, finance, banking, capital markets, real estate, investment management, governance and the China market. The Board members bring with them the combination of skills, talents, experience and diversity required to serve the needs and achieve the plans of the CLCT Group. For further information on the Board’s work in this regard, please refer to “Board Membership” under Principle 4 in this Report. ANNUAL REPORT 2023 121 Financials Framework Portfolio Performance Leadership Overview
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