OVERVIEW AND FINANCIAL REVIEW MARKET REVIEW LEADERSHIP STRUCTURE PROPERTY PORTFOLIO SUSTAINABILITY & GOVERNANCE FINANCIAL STATEMENTS AND OTHER INFORMATION 99 CDL HOSPITALITY TRUSTS Annual Report 2025 BOARD STATEMENT Dear Stakeholders, The Boards of Directors (“Boards”) are pleased to present CDL Hospitality Trusts’ (“CDLHT”) Sustainability Report (“Report”) for the financial year ended 31 December 2025 (“FY 2025”). This Report highlights CDLHT’s vision, strategies, and progress in critical areas such as climate action, resource efficiency, and human capital development. It also provides an update on our performance against set targets, underscoring our commitment to transparency and continuous improvement in sustainability practices. The Boards firmly believe that sustainability is integral to CDLHT’s business and long-term value creation. The Board Sustainability Committees (“BSCs”) oversee sustainability initiatives, ensure adherence to environmental, social, and governance standards, and embed sustainable practices into CDLHT’s long-term strategies. As one of Asia’s leading hospitality trusts, with approximately S$3.5 billion in assets under management as at 31 December 2025, we recognise that sustainability is fundamental to long-term business resilience and global environmental stewardship. Our sustainability strategy is closely aligned with evolving regulatory requirements and international standards, including the Singapore Exchange (“SGX”) sustainability reporting guidelines. By proactively integrating Environment, Social and Governance (“ESG”) considerations into our operations, we uphold compliance while maintaining strong corporate governance, integrity, and responsible business practices. In 2025, we were honoured to be recognised as joint winner of the prestigious Shareholder Communications Excellence Award (REITs & Business Trusts Category) at the Securities Investors Association (Singapore) Investors’ Choice Awards 2025 for the second consecutive year. CDLHT was also ranked 10th in the Singapore Governance and Transparency Index (“SGTI”) – REIT and Business Trust Category. Despite an increasingly complex and dynamic operating landscape, CDLHT remains steadfast in advancing our sustainability agenda. We continuously evaluate our performance against internationally recognised frameworks to ensure we meet and exceed expectations set by regulators and stakeholders. In line with our preparation for the International Sustainability Standards Board (“ISSB”) IFRS S1 and S2 standards, we undertook an assessment of both physical and transition climate‑related risks & opportunities to determine the most relevant areas of exposure for CDLHT. Building on this assessment, we then quantified the key physical & transition risks identified as most material, enabling a deeper understanding of CDLHT’s potential financial exposure under different future climate pathways which will be quantified in the subsequent year. Beyond environmental efforts, we place strong emphasis on the health, safety, and well-being of all stakeholders while driving positive societal impact. Both the Managers and our properties actively engage with local charitable and social organisations, reflecting responsible corporate citizenship and reinforcing our commitment to community involvement. In FY 2025, we strengthened our materiality approach by incorporating a financial perspective through a double materiality assessment. This process led to the inclusion of two new topics-Quality and Sustainable Products and Services, and Supply Chain Management into our materiality matrix. Our sustainability initiatives continue to align with the United Nations Sustainable Development Goals (“UN SDGs”), underscoring our commitment to contributing to broader global sustainability outcomes. Looking forward, CDLHT is committed to advancing our sustainability initiatives in line with global best practices and regulatory requirements. We will continue to refine our strategies to strengthen environmental, economic, and social contributions, ensuring long-term value creation for our stakeholders. Board of Directors REIT Manager Board Trustee-Manager Board
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