ESR AR 2021 (EN)

The figures in this report may be subject to rounding differences. CONTENTS 92 Financial Contents 93 Directors’ Report 124 Independent Auditor’s Report 129 Consolidated Statement of Profit or Loss and Other Comprehensive Income 130 Consolidated Statement of Financial Position 132 Consolidated Statement of Changes in Equity 134 Consolidated Statement of Cash Flows 137 Notes to the Consolidated Financial Statements 239 Group Financial Summary 241 Unaudited Pro Forma Financial Information of the Enlarged Group ESR STANDALONE FY2021 FINANCIAL STATEMENT 74 Overview of ESR Group 76 Our Purpose 77 Highly-Scalable Asset-Light Business Model 78 Our Values 79 Establishing a Fully Integrated Closed Loop Solutions Ecosystem for Our Capital Partners 80 Key Trends To Support Our Growth Strategies 82 Operations Review 82 At A Glance 84 Investment Segment 86 Funds Management Segment 89 Development Segment PRO FORMA ESR GROUP 8 FY2021 Financial Highlights 10 FY2021 Operational Highlights 12 FY2021 Year In Review 14 FY2021 Awards & Accolades 16 FY2021 Financial Review 20 FY2021 Capital Management 22 FY2021 Property Portfolio 26 ESG Performance ESR STANDALONE FY2021 STRATEGIC REPORT 36 Message from Chairman 40 Message from CEOs 44 Board of Directors 52 Group Leadership Team & Business Leadership Team 54 Corporate Structure 56 Investor Relations & Corporate Communications 59 Risk Management 64 Corporate Governance Report CORPORATE GOVERNANCE End Corporate Information

RkJQdWJsaXNoZXIy ODIwNTc=