MESSAGE FROM CEOs JINCHU SHEN AND STUART GIBSON Co-founders & Co-CEOs "By focusing on opportunity, and thanks to the relentless commitment of our people, we have consistently been able to innovate and improve, find new inspirations, and accelerate our efforts to drive continuous growth and set our sights even higher." ESR delivered outstanding results while showing great strength and resilience in 2021, a year that was marked by ongoing challenges from COVID-19 on the one hand and rapid, complex transformation on the other. These are deeply trying times for many, but such challenges and dynamics did not waver our resolve – quite the contrary. By focusing on opportunity, and thanks to the relentless commitment of our people, we have consistently been able to innovate and improve, find new inspirations, and accelerate our efforts to drive continuous growth and set our sights even higher. 2021 also marked the 15th anniversary of Redwood and the 10th anniversary of E-Shang, the predecessors of ESR. We have grown and evolved so much since then, but we always strive to maintain the same entrepreneurial spirit and passions for excellence and innovation. These qualities are and will continue to be the reasons for our success. As we turn the page on 2021, we are very pleased with our stellar performance and record achievements. We are even more excited to enter 2022 as a stronger, more dynamic platform - a result of the successful landmark acquisition of ARA Asset Management, including its subsidiary LOGOS. Building on what the teams of ESR, ARA and LOGOS have accomplished over the years, we have created APAC’s leading real asset manager and New Economy real estate platform, and a more powerful, purpose-led organisation that will continue to advance and lead the industry for years to come. R E A C H I N G N E W H E I G H T S 40 CORPORATE GOVERNANCE
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