SECTION 07 pg. 168 AL-SALĀM REIT CHAIRMAN AND CHIEF EXECUTIVE OFFICER The Chairman is primarily responsible for providing leadership to the Board and ensuring its effective functioning. In this regard, the Chairman guides the Board in the discharge of its duties and responsibilities, promotes high standards of corporate governance, and oversees the development, adoption and communication of an effective governance framework for the REIT. The Board, collectively, is responsible for setting the REIT’s purpose, strategic direction and overall commercial objectives. The Board also ensures that appropriate policies and procedures are established, taking into consideration the size, nature and complexity of the REIT’s operations. The CEO is responsible for the day-to-day management of the REIT’s operations. The CEO reports to and works closely with the Board in articulating, recommending and implementing strategic and operational plans. The CEO is accountable for executing approved policies and strategies and for managing the business with a view to delivering sustainable long-term value to unitholders and stakeholders. The respective roles and responsibilities of the Chairman and the CEO are clearly defined in the Board Charter. The separation of these roles promotes accountability, ensures an appropriate balance of power and authority, and prevents any one individual from exercising unfettered decisionmaking powers. COMPANY SECRETARIES The Company Secretaries advise the Board on corporate governance and regulatory matters and report directly to the Chairman on such matters. They support the Chairman in ensuring the effective functioning of the Board and its Committees, and facilitate the timely dissemination of accurate and relevant information to the Board. The Company Secretaries also advise the Board on compliance obligations and ensure that Board procedures are in accordance with applicable laws, regulatory requirements and internal governance policies. The performance of the Company Secretaries is subject to annual evaluation by the Board. BOARD COMMITTEES The Board has established the following Committees with clearly defined terms of reference and delegated authority to assist in the discharge of its responsibilities: • Board Audit and Risk Committee • Board Nomination and Remuneration Committee • Board Investment Committee • Board Sustainability Committee Each Committee operates within its respective Terms of Reference, which are reviewed periodically to ensure continued relevance and effectiveness. The Terms of Reference of the respective Committees are available on the REIT’s website. BOARD EVALUATION The Board undertakes a periodic Board Effectiveness Evaluation (“BEE”) to assess the performance and effectiveness of the Board, Board Committees, individual Directors and the senior management team. The evaluation process reinforces the Board’s commitment to maintaining high standards of governance and performance in the discharge of its fiduciary duties. The BEE Report for the financial year under review was tabled at the BNRC meeting held on 13 February 2026. A summary of the evaluation findings is set out in the BNRC section of this IAR2025. FIT AND PROPER ASSESSMENT The Board, through the BNRC, undertakes an annual fit and proper assessment of the Directors, Company Secretaries, licence holders, Shariah Adviser, the CEO and members of senior management. The assessment is conducted in accordance with the Manager’s Fit and Proper Policy on Key Responsible Persons, as well as the annual declarations provided by Independent Directors, to ensure continued compliance with regulatory requirements and governance standards. CORPORATE GOVERNANCE OVERVIEW STATEMENT
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