REPORT ON CORPORATE GOVERNANCE Board Composition and Guidance Principle 2 The members of the Board of Directors at the date of this report comprise the following Directors:- Non-Executive Independent Directors: Tan Chian Khong – Lead Independent Director Ng Shin Ein Wong Su Yen Tang Wai Loong, Kenneth Non-Executive Non-Independent Directors: Eugene Paul Lai Chin Look – Chairman Ravinder Singh s/o Harchand Singh Executive Director: Lim Boon Kheng – Group Managing Director/ Chief Executive Officer As at the date of this report, the Board comprises seven Directors of whom four are Non-Executive Independent Directors. Accordingly, a majority of the Board is made up of Independent Directors who are free of any material business or financial connection with the Company. The Board has an appropriate level of independence and diversity of thought which is appropriate for the nature and scope of the Group’s current operations. The Board is already made up of majority nonexecutive independent Directors, serves to reinforce management accountability. Matters requiring the Board’s approval are discussed robustly with participation from each member of the Board and decisions are made collectively without any individual or select group of individuals dominating the decision-making process. Directors are required to take the necessary actions to resolve any conflict of interest they might have, including recusing themselves from meetings or discussions or abstaining from voting on matters in which they are interested or conflicted. There is no alternate director appointed during the year. Board Independence The Board, through the NC, assessed the independence of each Board member taking into consideration of Provision 2.1 of the 2018 CG Code and Rule 210 (5)(d)(i), (ii) and (iv) of the Listing Manual of the SGX-ST (the “Listing Rules”) and the individual director’s declaration. As at the date of this report, there are no independent directors who had served a continuous period of more than nine years. Based on the declarations of independence which are submitted by each of the Independent Directors annually and reviewed by the NC, none of the independent Directors has any relationship with the Company, its related corporations, its substantial shareholders or the officers of the Company that could interfere, or be reasonably perceived to interfere, with the exercise of their independent business judgement in the best interests of the Company. In particular, none of the independent Directors is or has been employed by the Company or any of its related corporations in the current or any of the past three financial years or has an immediate family member who is employed or has been employed by the Company or any of its related corporations in the current or any of the past three financial years, and whose remuneration is or was determined by the Remuneration Committee of the Company. Mr Eugene Paul Lai Chin Look is Chairman of Heliconia Capital Management Pte Ltd, a controlling shareholder of the Company, and thus the NC and Board has deemed him as non-independent. Mr Lai was appointed as Board Chairman on 10 December 2025. Mr Ravinder Singh s/o Harchand Singh is nominated by Heliconia Capital Management Pte. Ltd. (“Heliconia”), a controlling shareholder of the Company. Therefore, the NC and Board has deemed him as non-independent. 42 CSE GLOBAL LIMITED
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