Sustainability Report 2023

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Board Statement

The Boards of Directors (the "Boards") are pleased to issue CDL Hospitality Trusts' ("CDLHT") Sustainability Report ("Report") for the financial year ended 31 December 2023 ("FY 2023"). This Report outlines CDLHT's vision and strategic imperatives regarding sustainability and related aspects such as climate change, resource conservation and human capital. It further details the progress made towards and performance against the targets set to achieve our sustainability ambitions. As one of Asia's leading hospitality trusts with approximately S$3.3 billion in assets under management as at 31 December 2023, we believe sustainability is vital to ensuring the longevity and success of our business and the planet. In this report, we highlight our sustainability goals, strategies, and progress across the key Environmental, Social, and Governance ("ESG") topics for FY 2023. Despite the continuously evolving and challenging landscape, CDLHT remains focused on its responsibility towards sustainability and will continue to evaluate its performance to ensure progress toward our long term goals. With this report, we present our efforts and commitments in our sustainability journey to our valued stakeholders.

CDLHT is cognisant of maintaining a balance between accomplishing commercial objectives whilst ensuring a positive impact and responsible contribution to the environment and society. Through the integration of sustainability into our business strategies and our core values, the Boards oversee all sustainability-related imperatives, whilst ensuring compliance with the regulation and guidelines from Singapore Exchange ("SGX"). CDLHT is vigilant towards compliance with all country-specific regulations and standards, whilst maintaining strong corporate governance, integrity, and responsible business conduct across all areas of the organisation.

CDLHT remains committed to improving our environmental and social impacts through focused initiatives, whilst managing overall business recovery. Building on our strong business activity in FY 2022, energy efficiency levels at our properties continue to improve through the implementation of various initiatives. CDLHT exercises environmental stewardship by spearheading an inventory of best practices to reduce natural resource consumption. We set and review reduction targets and continuously explore opportunities to reduce usage and improve efficiency, as we detail in this report. Our goal is to consistently propel our sustainability efforts forward, and this has been supported by active measures to improve our data collection and reporting. As part of our progressive approach to sustainability reporting, we have commenced reporting on two new material topics in our FY 2023 report. These are: Safe and Liveable Buildings, and Fair Labour and Human Rights.

Our business centres around people, and we are committed to establishing a secure environment for all stakeholders. Prioritising their health, safety, and overall well-being is fundamental to our approach. Additionally, we believe in positively impacting society through collaboration with stakeholders within each of our locations. Accordingly, our properties continue to partner with local charitable and social organisations to demonstrate responsible citizenship and positive community engagement.

Moving forward, we will continue our efforts to find more effective ways to improve our environmental, economic, and social footprint and contribute towards a more sustainable future.

Board of Directors
REIT Manager Board
Trustee-Manager Board

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