ANNUAL REPORT 2025 117 CORPORATE GOVERNANCE REPORT Reports from the external auditor on internal controls and relevant fi nancial reporting matters are presented to the Head of Internal Audit and, as appropriate, to the CFO and the fi nance director or fi nancial controller of the relevant executive management team. These reports are reviewed and appropriate actions are taken. The AC reviews the adequacy and effectiveness of the internal audit function annually. The review covers an assessment on the adequacy, qualifi cations and experience of its staff. Based on the reporting structure, the methodology and standard used, the above-mentioned reviews and the work performed by the internal auditor, the AC is satisfi ed that the internal audit function is independent, effective and adequately resourced. UNITHOLDER RIGHTS AND ENGAGEMENT Unitholder Rights and Conduct of General Meetings Principle 11 The Trustee-Manager treats all unitholders fairly and equitably in order to enable them to exercise unitholders’ rights and have the opportunity to communicate their views on matters affecting HPH Trust. The Trustee-Manager gives unitholders a balanced and understandable assessment of the performance, position and prospects of HPH Trust. All unitholders are entitled to attend the general meeting(s) of unitholders and are given the opportunity to participate effectively in the meeting(s). In accordance with the Trust Deed, an individual or corporate unitholder (other than a unitholder who is a Relevant Intermediary with such meaning ascribed to it in the Companies Act 1967 of Singapore and applied with such modifi cation and qualifi cations as may be necessary, to the units of HPH Trust) is allowed to appoint up to two proxies to attend and vote at the general meeting(s) on his or her behalf through proxy forms sent in advance. Unitholders who hold units through nominees such as custodian banks may vote through their nominee or custodian banks. Such unitholders may also, upon presentation of official letters issued by their nominees, attend the general meeting(s) as observers, subject to availability of seats. However, the Trust Deed does not allow for absentee voting at general meeting of unitholders. Since the authentication of unitholder identity information and other related security issues still remain a concern and given that the existing measures in place as outlined above would sufficiently enable unitholders to exercise their rights as unitholders and provide them the opportunity to communicate their views on matters affecting HPH Trust even when they are not in attendance at general meetings, the Trustee-Manager has decided, for the time being, not to implement voting in absentia by mail, email or fax. Each item of special business included in the notice of the general meetings is accompanied, where appropriate, by an explanation for the proposed resolution. Separate resolutions are proposed for substantially separate issues at the meetings and not bundled together unless the resolutions are interdependent and form one signifi cant proposal. All Directors, the respective chairperson of Board committees and the representatives from the external auditors attended the Annual General Meeting of the unitholders of HPH Trust (“Annual General Meeting”) held on 23 April 2025. Voting at all general meetings are conducted by way of poll. Electronic polling was adopted for the Annual General Meeting held on 23 April 2025. Unitholders are informed of the rules of the Annual General Meeting and voting procedures by the electronic polling vendor. Detailed results of the outcome are announced after the meeting via SGXNet. The Company Secretary prepares minutes of unitholders’ meetings. The minutes of the Annual General Meeting held on 23 April 2025 were announced via SGXNet and are available on HPH Trust’s corporate website (https://www.hphtrust.com/download.html). HPH Trust’s distribution policy is to distribute 100% of its Distributable Income. HPH Trust will make distributions on a semi-annual basis, with the amount calculated as at 30 June and 31 December each year for the six-month period ending on each of the said dates.
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