OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 105 104 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025 Sustainability Report APPROACH TO SUSTAINABILITY Sustainability Governance Structure GRI [2-9] [2-12] [2-13] [2-14] The Board of Directors leads Perennial Holdings’ sustainability strategy by identifying and monitoring material Environmental, Social and Governance (“ESG”) factors across short- to long-term horizons. This includes understanding how ESG-related risks may impact the environment, society and the economy. To remain effective in a dynamic landscape, the Board undergoes sustainability training where appropriate, to enhance oversight of ESG-related risks, respond effectively to stakeholder feedback and provide informed endorsement of the annual Sustainability Report. The Sustainability Steering Committee (“SSC”), comprising selected heads of departments and key executives from Singapore and China teams, sets strategic directions for the Company’s sustainability roadmap, and associated goals and targets. The SSC oversees the implementation of sustainability initiatives, monitors progress, assesses the impact of action plans, and reports material issues to the Board at quarterly meetings. The SSC also provides guidance and seeks feedback and recommendations from the Sustainability Champions. The Sustainability Champions include project general managers and centre management teams and is responsible for the day-to-day integration of sustainability plans across all assets. The Sustainability Champions meet regularly to address issues and identify collaboration opportunities, providing timely updates and feedback to the SSC to ensure seamless oversight. Materiality Assessment Process GRI [3-1] [3-2] [3-3] Perennial Holdings conducted its inaugural materiality assessment in FY2017, identifying eight key ESG factors. The assessment followed a four-stage process: identification, prioritisation, validation and review, as illustrated in Figure 3. This structured approach enabled the Company to determine the most significant impacts of its operations on local communities Figure 2: Sustainability Governance Structure of Perennial Holdings BOARD OF DIRECTORS (Meets yearly) • Identifies and monitors short, medium and long-term ESG factors • Oversees the Company's progress against sustainability goals, significant risks and emerging concerns • Participates in sustainability training, where appropriate • Identifies emerging risks and responds to stakeholder feedback • Endorses annual sustainability report Sustainability Steering Committee (Meets monthly or as required) • Sets strategic direction and action plans for sustainability roadmap and corresponding goals and targets • Monitors progress and assesses the impact of action plans and goals • Flags material issues to the Board • Oversees process and advises the Sustainability Champions on implementation of sustainability initiatives Sustainability Champions (Meets regularly per target objective) General Managers of Development Projects Centre Managers of Operating Assets Sustainability Working Team • Responsible for implementation of approved action plans • Integrate sustainability plans for all developmental projects and operational assets • Identify collaboration opportunities and address potential or actual issues arising from ongoing sustainability initiatives • Report back to the Steering Committee and provide timely updates while providing a clear framework for addressing stakeholders’ priorities accurately and effectively. For FY2025, Perennial Holdings continued with the eight ESG factors identified relevant to its business activities (refer to Figure 4). The corresponding policies, initiatives, targets and performance indicators for each material factor are presented in this report. Figure 3: Perennial Holdings’ Materiality Assessment Process 01 IDENTIFICATION A comprehensive list of material topics were identified through a series of desktop research, peer benchmarking and internal interviews. 02 PRIORITISATION Through an unbiased voting exercise, steered by the Management and taking external stakeholders’ inputs into consideration, a total of eight ESG factors (five material and three industryrelevant) were prioritised for reporting. 03 VALIDATION These material topics were subsequently validated by the Board. With each reporting cycle, Management reviews the existing eight material factors for its relevance to the reporting scope. The material factors remained the same for SR2025. 04 REVIEW Figure 4: Perennial Holdings’ Materiality Matrix Identified ESG Factors for Reporting 1 Customer Satisfaction 2 Health and Safety of Stakeholders 3 Business Ethics 4 Corporate Governance 5 Compliance with Laws and Regulations 6 Occupational Health and Safety 7 Energy, Greenhouse Gas (“GHG”) Emission and Alternative Energy Sources 8 Water Management Importance to External Stakeholders Importance to Internal Stakeholders High Low High Material Factors Industry-Relevant Factors 6 7 8 1 2 3 4 5 Key sustainability risks associated with these eight ESG factors have been incorporated into Perennial Holdings’ Enterprise Risk Management (“ERM”) Framework. The Board reviews these risks at least annually to ensure they remain relevant to the Company’s evolving business strategies. A summary of the ESG factors and their corresponding key risks is presented in Table 2 below. Table 2: List of Key Risks Associated with ESG Factors ESG Factors Key Risks Customer Satisfaction • Medical and Healthcare Business Risk • Health, Security and Safety Risk Occupational Health and Safety • Project Development Risk • Health, Security and Safety Risk Health and Safety of Stakeholders • Medical and Healthcare Business Risk • Health, Security and Safety Risk Business Ethics • Fraud and Corruption Risk Corporate Governance • Fraud and Corruption Risk • Compliance Risk Compliance with Laws and Regulations • Compliance Risk Energy, GHG Emissions and Alternative Energy Sources • Project Development Risk • Health, Security and Safety Risk Water Management • Compliance Risk
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