Singapore Telecommunications Ltd

##### Singtel Board and Board Committee roles in sustainability governance\n\n##### Singtel Board\n\n - Participates as a stakeholder in sustainability\nmateriality assessment (once every three to five years)\n\n - Approves sustainability materiality items and matrix\n(once every five years)\n\n - Approves five-year mid-term sustainability targets\n\n - Reviews sustainability strategy, performance and\nprogress (twice a year)\n\n - Approves sustainability disclosures and report\n(annually)\n\n##### Finance and Executive Resource and Compensation Investment Committee Committee (ERCC)\n\n- Reviews and approves senior and top management\ncompensation structure and long-term incentive (LTI)\nplan related to sustainability KPIs and performance\n\n- Approves ESG-linked LTI Performance Share Award,\nwhere 20% of LTI is weighted to ESG KPIs, including\npeople sustainability KPIs e.g. diversity and inclusion –\nwomen in leadership\n\n**Figure 4: Singtel Group's Sustainability Governance Structure**\n\n**Board of Directors** **ERCC** **Board Risk Committee**\n\nOverall strategy, materiality ESG KPIs for\nmatrix, targets, performance Top Management Material ESG Risks\nreview and disclosures long-term incentives\n\n**Management Committee**\n\n**Risk Management Committee**\n\n**Group Sustainability**\nManaging sustainability throughout the Singtel Group\n\n**Steering Committees and Working Groups**\n\n**Singapore** **Australia** **Regional Associates**\n\n**Vendor and**\n**Supply Chain**\n**Risk Management**\n\n**Modern** **Accessibility and** **Sustainable**\n**TCFD**\n**Slavery** **Inclusion** **Packaging**\n\n**Renewable**\n**Energy and**\n**Decarbonisation**\n\n**Regional Group Sustainability**\nA platform for the various working groups to collaborate and share best practices on sustainability strategy and programmes\n\n**DEVELOPING AND IMPLEMENTING SUSTAINABILITY STRATEGY AND PROGRAMMES**\n\n**BUSINESS AND SUPPORT UNITS

###### SUSTAINABILITY GOVERNANCE AT SINGTEL
Singtel Group is committed to implementing an effective governance structure to ensure that the entire business is aligned to sustainability and creating positive, long-term impact, guided by our Group purpose and sustainability framework. The various committees, including Board committees, oversee various aspects of our sustainability efforts to ensure that our actions are robust and rooted in integrity (see Figure 4).

Singtel Group complies with SGX's new requirement for Directors to undergo mandatory sustainability training. Some of our Board of Directors have attended and the rest will be attending sustainability training courses on ESG Essentials and Sustainability E-Training for Directors offered by the Singapore Institute of Directors and Institute of Singapore Chartered Accountants respectively.

**Management ESG KPIs**
Given that many sustainability issues cannot be addressed overnight, our Top Executives have collective and common ESG targets representing 20% of their long-term incentive plans. These targets cut across key sustainability themes like climate change and

environment as measured by CDP, reputation and responsible business practices as measured by MSCI, community impact in terms of our digital inclusion and enablement targets, and talent and people including diversity and talent retention. They include specific, time-bound key performance indicators (KPIs) such as reaching 32% of female employees in management by FY2025. This is to advance the sustainability agenda and embed deeper accountability and ownership across the company.

In addition, our Management Committee members have related ESG targets for their short-term incentive plans, which comprise 10% of their annual balance scorecard performance. While they relate to common sustainability themes, the focus and weightage may vary for each executive given their different levels of influence and impact on these ESG KPIs.

The Management Committee's KPIs are also cascaded down to their business units, departments and employees, whose performance bonus and other incentives are tied to their KPIs. The Singtel Board is the highest governance body. For more information on our Board and Board Committee roles in sustainability governance, refer to [our website.](https://www.singtel.com/about-us/sustainability/sustainability-at-singtel)

Sustainability governance at Singtel Singtel Group is committed to implementing an effective governance structure to ensure that the entire business is aligned to sustainability and creating positive, long-term impact, guided by our Group purpose and sustainability framework. The various committees, including Board committees, oversee different aspects of our sustainability efforts to ensure that our actions are robust and rooted in integrity (see Figure 4). In compliance with SGX requirement, all our Board of Directors completed mandatory sustainability training, except for a recently appointed Director who will complete training in the coming year. Our Board is also briefed twice a year on ESG-related matters with at least one session per year dedicated to discuss climate issues affecting Singtel Group operations. This is in addition to regular updates on our sustainability strategy, targets and efforts. Sustainability governance structure Executing on Singtel Group's sustainability strategy requires oversight from the Board and focus from the leaders across the organisation. Singtel Board is the highest governing body and has ultimate responsibility for the oversight of Singtel's sustainability risks and strategy. The various Board Committees have responsibility for addressing relevant sustainability topics, such as ESG key performance indicators (KPIs) with the Board Executive Resource and Compensation Committee (ERCC), and sustainability-linked financing with the Finance and Investment Committee (FIC). The Singtel Management Committee is the overarching governance body at the management level, supported by various cross-functional steering committees and working groups focused on different material topics. Management of ESG KPIs We recognise the key role that management plays to ensure the success of ESG initiatives and achieve our targets. Hence we have linked collective and common ESG targets to KPIs and incentive plans of our top executives. This helps us to advance the sustainability agenda and foster greater accountability and ownership across the company. - 20% of our Top Executive's long-term incentive plan remuneration policies are tied to specific, time-bound KPIs, such as reaching 32% of female employees in management by FY2025. - ESG targets for our Management Committee's short-term incentive plans represent 10% of their annual balance scorecard performance. - Management Committee's KPIs are cascaded down to their business units, departments and employees, whose performance bonus and other incentives are tied to their KPIs. These targets cover key sustainability themes such as climate change and environment, as measured by CDP; reputation and responsible business practices, measured by MSCI; community impact, in terms of our digital inclusion and enablement targets; and talent and people including diversity and talent retention. However, the focus and weightage may vary for each executive given their different levels of influence and impact on these ESG KPIs.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Our Singtel Group Climate Action Plan would adopt the following approach in line with the goals of the Paris Agreement's central aim is to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius
• Manage GHG emissions in line with an ambitious science-based target pathway towards net zero by 2050
• Link emissions to financing to quantify carbon and drive change in behaviour
• Address physical risks through network adaptation and advocate for climate action with our stakeholders