OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 127 126 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025 Sustainability Report External Partners Management Perennial Holdings embeds health and safety considerations across its business and supply chain by conducting rigorous screenings of all prospective partners, 1. PRE-QUALIFICATION Contractors must meet the Company’s WSH eligibility criteria to qualify for the tender, including the following: i) ISO 45001 certification for main contractors involved in new developments; ii) bizSAFE Level 3 certification for contractors engaged in operating assets; iii) MOM demerit points below 24; and iv) Not listed under MOM’s Business Under Surveillance ("BUS") Programme 2. TENDER CALLING Potential suppliers will undergo a second screening for projects which require tender calling. For projects that require the calling of tender, potential suppliers will undergo two screenings. Should there be any deviation from the Pre-Qualification list, senior management’s approval would be sought. Operations Team will determine the required scope of work and evaluate suppliers based on the price and quality of materials used. Vendors are required to meet specified requirements set out in the tender documents to ensure the quality of their goods and services. For example, security officers will have to possess the Workforce Skills Qualifications (“WSQ”) Certificate in Security Operations, have relevant working experience and be physically fit. Cleaning service contractors should also be certified by WSQ/National Skills Recognition System (“NSRS”) or, at a minimum, possess a Cleaning Business License from the National Environmental Agency (“NEA”). 3. EXECUTION All suppliers and vendors are mandated to comply with relevant laws and regulations in their countries of operation (e.g., the Employment Act and Workplace Safety and Health (“WSH”) Act in Singapore and the Law of the People’s Republic of China on Work Safety in China). Suppliers are also required to ensure that service employees hired have received relevant service delivery training, thereby ensuring they possess a positive working attitude. 4. REVIEW Supplier performance is closely monitored via activities carried out during work, such as: 1. Site inspection – To certify that work is carried out in a manner that safeguards workers’ health and safety. 2. Proper handover – Work carried out by contractors should be endorsed through proper handover documentation featuring sign-off from all parties. 3. Internal audit – Internal audit team will work together with independent external consultants to audit operational processes to ensure that standards are met. 4. Regular engagement – Regular meetings are held with suppliers and contractors for updates on projects and construction works. Figure 11: Perennial Holdings’ Supplier Management Process Pre-qualified vendors including product suppliers, design consultants and service vendors (such as cleaning, security and maintenance). Each supplier undergoes a structured four‑step assessment process tailored to the specific needs and risk profile of each project, ensuring alignment with the Company’s health, safety and operational standards. The supplier management approach is illustrated in Figure 11. Development Assets Perennial Holdings places strong emphasis on worker health and safety at its development assets. The Company recognises that a safe work environment is essential to employee well‑being and productivity, aligning with SDG 3 on ensuring healthy lives and promoting well‑being for all. The Company applies stringent contractor selection criteria that consider past health and safety performance, the robustness of safety management systems, resource allocation for worker welfare and onsite safety practices. Approved contractors must also establish a grievance mechanism for neighbouring residents and obtain the necessary permit-to-work before commencing high-risk works. To safeguard the public, Perennial Holdings mandates measures such as safety barriers, sheltered walkways with adequate lighting and the presence of qualified personnel, including a WSH Officer, throughout the project. The Company’s health and safety team conducts both scheduled and surprise inspections at development sites to ensure compliance with WSH SOPs and the effective management of occupational risks. The team also organises workshops with contractors during the planning phase with a focus on WSH requirements. Through these robust measures, the Company strengthens worker protection and supports broader goals of decent work and sustainable economic growth, in line with SDG 8. This holistic approach underscores Perennial Holdings’ commitment to creating a safe and healthy environment for all stakeholders. Hazard Identification, Risk Assessment and Incident Investigation Hazard identification and risk assessment are central to Perennial Holdings’ health and safety management system. In FY2025, the Company conducted 139 scheduled health and safety inspections across its Singapore assets. For operational assets, contractors must submit method statements, risk assessments and safe work procedures before receiving a permit-to-work, with risks mitigated using the hierarchy of controls as per Singapore’s Code of Practice. For development assets, contractors must implement a comprehensive riskmanagement programme, including Design-for-Safety workshops, riskassessment presentations and regular reviews and audits of risk assessments. Perennial Holdings’ health and safety team conducts inspections that cover safety reporting systems, emergency preparedness and staff training. In China, eldercare homes undergo routine safety inspections and equipment maintenance covering electrical, fire and building systems to ensure safe and efficient operations. Perennial Holdings fosters a culture of openness and fairness by encouraging the prompt reporting of all health and safety concerns. Employees follow SOPs to document hazards and risk ratings, prompting root cause investigations and timely mitigation. All incidents are systematically recorded and reviewed by the HSC, supporting continuous improvement and proactive management of workplace health and safety. Workers are protected against reprisals, and all reports, regardless of submission through supervisors, the Health and Safety Team, or confidential channels, are handled without adverse consequences. Employees may also stop work or remove themselves from any situation they believe poses a risk and supervisors must respond promptly and without punitive action. Scheduled health and safety inspections are conducted by the HSC using standardised checklists and evaluation criteria to identify hazards across key operational areas, including housekeeping, equipment safety, fire protection systems and safe work practices. During each inspection, committee members assess workplace conditions against regulatory requirements, internal procedures and established risk-control measures. In addition, top management conducts quarterly site walks to reinforce compliance and demonstrate leadership commitment to workplace safety. This structured and consistent approach to hazard identification ensures that all findings are promptly communicated to the relevant departments, which are required to implement corrective and preventive actions within defined timelines based on risk prioritisation. SPOTLIGHT: Health and Safety Inspections Site inspections by top management and the HSC Execution Review Prequalification 3 1 2 Tender Calling PERENNIAL HOLDINGS’ SUPPLIER MANAGEMENT PROCESS Potential suppliers will undergo a second screening for projects which require calls for tender. Input will be sought from Operations Team on the required works to evaluate suppliers based on their price and quality of materials used. Vendors will have to meet the specified requirements set out in the tender document upon award of contract. Perennial Holdings has in place an internal vendor’s assessment for all suppliers. Only pre-qualified suppliers will be invited to tender, for which they will be required to prepare relevant financial statements, track records, ISO certifications and meet respective guidelines (applicable for security suppliers, builders and electrical vendors). All suppliers and vendors are mandated to comply with relevant laws and regulations in their countries of operations (e.g. Employment Act and WSH Act in Singapore and Law of People’s Republic of China on Work Safety in China). They will also be accountable for ensuring their employees receive relevant training for their required works. Supplier performance will be closely monitored based on the activities carried out during the course of work. This includes site inspection, proper handover, internal audits and regular engagements. 4
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