DIRECTORS' STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) SHARE PLANS The Executive Resource and Compensation Committee (ERCC) is responsible for administering the ST Engineering Share Plans. The ERCC members are Teo Ming Kian (Chairman), Philip Lee Sooi Chuen, Lim Chin Hu and Ng Bee Bee (May). As of 31 December 2024, pursuant to the release of awards granted under the ST Engineering Share Plans, no participants have received 5% or more of the total number of shares available under the ST Engineering Share Plans. In relation to the ST Engineering Share Plans: • no share awards have been granted to controlling shareholders of the Company or their associates; • the persons to whom the share awards were granted have no right by virtue of these awards to participate in any share issue of any other company; • the disclosure requirements in Rule 852(1)(c) of the SGX-ST Listing Manual relating to the grant of options to Directors and employees of the parent company and its subsidiaries is not applicable; and • the disclosure requirements in Rule 852(1)(d) of the SGX-ST Listing Manual relating to the grant of options at a discount is not applicable. Except as otherwise disclosed in this Directors’ Statement, there were no share options or share awards granted by the Company to any person to take up unissued shares of the Company. (a) PSP2020 (PSP) The PSP is established with the objective of motivating Senior Management Executives to strive for sustained long-term growth and performance of the Group. Awards of performance shares are granted conditional on performance targets set based on the corporate objectives of the Group. Performance share awards are generally granted on an annual basis and are conditional on targets set over a performance period, which is currently prescribed at 3 years. The performance shares will only be released to the recipient at the end of the applicable performance period. The actual number of performance shares released will depend on the achievement of set targets over the performance period. A minimum threshold performance is required for any performance shares to be released and the actual number of performance shares to be released is capped at 170% of the conditional award. The performance measures used in performance share grants are Absolute Total Shareholder Return (TSR) taking reference to the Group’s Cost of Equity and Earnings Per Share (EPS) Growth against pre-determined EPS Growth targets over the relevant performance period. The release of the shares is additionally conditional upon satisfactory individual performance. 117 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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