merger, which will create a flagship New Economy S-REIT, ESR-LOGOS REIT (“E-LOG”), one of the 10 largest by free-float market capitalisation. The enhanced size and scale of E-LOG will create a highly attractive platform for customers and investors while reinforcing new strengths and opportunities. Our people and culture I believe that any successful business starts and ends with its people. In that regard, I could not be more pleased with the enlarged ESR team – a diverse, highly motivated and exceptionally talented group that is incredibly focused on delivering for all of our stakeholders. Our people have been fundamental in keeping ESR at the forefront of everything it does – growing the company, advancing the industry and giving back to the community. We are proud to welcome the ARA and LOGOS teams to our Group. Recently, we held our inaugural townhall for the expanded ESR Group and I was delighted to see the wealth of experience and deep rooted commitment of the teams. More importantly, our people share the same set of values - embracing entrepreneurship, promoting inclusion and diversity, creating sustainable value for stakeholders, and fulfilling a deeprooted commitment to ESG. Going forward, our core values – excellence, inclusion, entrepreneurship and sustainability – will guide our actions and decisions as we strive towards achieving even greater things for the enlarged ESR Group. These values will define the way we do business and treat our colleagues, customers and stakeholders. This is because at ESR, our ambitions extend well beyond the pursuit of financial success. It is our purpose to create Space and Investment Solutions for a Sustainable Future. Unwavering commitment to ESG ESR’s vision for sustainable development is to enhance shareholder value while contributing positively to society and the environment. As set out in our ESG 2025 Roadmap, we are committed to ensuring that robust ESG principles are integrated into every aspect of our business, operations and planning. In 2021, we took great strides towards strengthening such efforts including ramping up the installation of our solar panels across the portfolio as well as successfully completing our inaugural US$1 billion SLL, marking our first step into sustainable financing. As ESR Group continues to scale, the number of stakeholders and communities it impacts will also grow. Therefore, we must strive to create more positive value than ever. ARA and LOGOS’ pioneering efforts in sustainability will also help us further strengthen our ESG leadership and offerings. Moving forward, we will accelerate our efforts and investments in building a more sustainable future and supporting the communities around us. Acknowledgements and appreciation After a record year, we enter our next phase of growth in an enviable position. I would like to extend my sincere gratitude to our Board of Directors for their invaluable support. I am also delighted to welcome Mr John Lim Hwee Chiang, Dr Justin Chiu Kwok Hung and Mr Rajeev Kannan, to the Board as Non-executive Directors. As ESR seeks to further its commitment to diversity, the nomination committee is planning to bring two additional female independent non-executive directors to the Board this year as a part of the annual rotation of directors to reflect the same level of inclusion that permeates the broader organisation. It is important that we always look in the mirror and see where we can do better. Bringing greater diversity of thought, experience and background is critical and this will only enhance the Group more going forward. ESR’s consistently strong performance has been made possible by the excellence of our management team, led by Stuart and Jeffrey, and all our talented and dedicated employees. Thank you all for your determined efforts to help our company achieve greater and greater heights. Most importantly, I would also like to thank our capital partners, customers and shareholders for their continuous trust and support. Jeffrey David Perlman Chairman 24 March 2022 ESR Amagasaki Distribution Centre, Japan E S R C A Y M A N L I M I T E D A N N U A L R E P O R T 2 0 2 1 39
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