Corporate Governance

First Reit

First Real Estate Investment Trust ("First REIT"), constituted as a real estate investment trust, is externally managed by Bowsprit Capital Corporation Limited (in its capacity as manager of First REIT) (the "Manager") and accordingly, has no personnel of its own. The Manager has the responsibility of managing the business conducted by First REIT and is dedicated to maintaining good standards of corporate governance.

This report sets out the Manager’s corporate governance practices for the financial year ended 31 December 2019, with specific reference to the Code of Corporate Governance 2018 issued by the Monetary Authority of Singapore(the"MAS") on 6 August 2018 (the “Code”). Save for the provisions relating to the disclosure of the remuneration of the key executives of the Manager, the publication of minutes of general meeting of the unitholders of First REIT ("Unitholders") on First REIT’s website and allowing Unitholders to vote in absentia at general meetings, the Manager has complied with the principles and provisions of the Code.

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