ANNUAL REPORT 2025 33 SUSTAINABILITY REPORT Materiality Assessment Stakeholder views and expectations play a crucial role in shaping the strategic decision-making processes. Identifying key sustainability issues that can significantly impact stakeholders and business operations is essential for efficiently allocating resources and prioritising communication. In 2025, the Trust conducted a materiality assessment to evaluate the Material Sustainability Topics through desktop research, benchmarking study and stakeholder engagement exercise. Considering the financial impact on the prospects and where the Trust can generate the greatest social and environmental impact, the assessment identified 17 Material Sustainability Topics. The Trust engaged an independent consultant to undertake the following materiality assessment: • Conducted a benchmarking study against eight peers • Performed desktop research and reviewed different sources, including international sustainability reporting standards, key ESG indices and ratings, the previous year’s materiality review results, and emerging sustainability and industry megatrends • Identified a potential list of Material Sustainability Topics that are relevant and important to the Trust and its stakeholders IDENTIFICATION • Engaged five key stakeholders via interviews and a focus group • Combined the outcomes of the engagement exercise with the results of the desktop research • Prioritised topics with greater significance and impact to the Trust and its stakeholders • Categorised Material Sustainability Topics into two tiers: “Material Topics” and “Relevant Topics” PRIORITISATION • Reviewed and approved the list of Material Sustainability Topics by the Board of Directors VALIDATION The Material Sustainability Topics were categorised based on their level of importance and urgency. This was determined by analysing the frequency of disclosures by peers, expectations from stakeholders referencing international standards and ESG rating agencies; and a review by senior management. MATERIAL TOPICS RELEVANT TOPICS Issues of high priority for the business and stakeholders, with associated risks that may require urgent attention Issues that are relatively less pressing, with associated risks of lower priority for the Trust The assessment results guide the disclosure approach in the subsequent sections of this Sustainability Report. The “Material Topics” are discussed more extensively than “Relevant Topics”. The materiality assessment centred on aligning the sustainability commitments and disclosures with the latest industry landscape and stakeholder expectations. As an aspiring sustainability leader in the port industry, the Trust strives to contribute to the United Nations 2030 Agenda for Sustainable Development and has mapped relevant Sustainable Development Goals (“SDGs”) against its Material Sustainability Topics. Compared to the previous year’s list of Material Sustainability Topics, “Contingency Planning” has been elevated to a “Material Topic” due to rising geopolitical risks and other market volatilities, such as sanctions and trade disputes. Meanwhile, “Community Engagement” has been reclassified as a “Relevant Topic” as it receives less attention from stakeholders and its financial impact is not perceived to be as direct or substantial compared to other topics. The following table summarises the Material Sustainability Topics and visually represents the specific areas of concern for individual stakeholders.
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