Corporate Governance, Compliance & Ethics
The Singapore Code of Corporate Governance 2018 issued by the Monetary Authority of Singapore (the "MAS") on 6 August 2018 (the "Code") and read together with the Practice Guidance which complements the Code, has played a significant role in corporate governance reform. Incorporating global principles and internationally recognised practices of corporate governance has positively influenced the corporate governance practices of Prime US REIT ("PRIME") since its listing on the Main Board of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). PRIME was constituted by a deed of trust (as amended) dated 7 September 2018 entered into between Prime US REIT Management Pte. Ltd., as the manager (the "Manager") and DBS Trustee Limited, as the trustee (the "Trustee") (the "Trust Deed"). PRIME has adopted the above approach to promote greater internalisation of desirable corporate governance culture.
The Board of Directors (the "Board" or "Directors" and individually, a "Director") of the Manager views corporate governance as a fundamental process contributing towards achieving long-term Unitholders’ value. The Board continuously strives to refine the corporate governance practices and processes to ensure that they consistently reflect market practices and stakeholders’ expectations. The term "corporate governance" refers to the entire system for managing and supervising an entity, including its organisation values, as well as all internal and external regulatory and monitoring mechanisms. The Board and the management team of the Manager ("Management") are committed to good corporate governance practices that enhance the confidence placed in it by the Unitholders, business partners, employees and the financial markets.
This Corporate Governance Report (the "Report") sets out details on the applicability of each of the principles and provisions of the Code for the financial year ended 31 December 2025 ("FY2025"). PRIME is pleased to confirm that it has adhered to the principles and provisions of the Code in all material aspects, save for specific deviations for which detailed explanations are provided in this Report, as well as adopted practices that are consistent with the intent and philosophy of the relevant principles of the Code.
For more information on PRIME’s Corporate Governance system, please refer to the Corporate Governance Report on page 53 of PRIME’s 2025 Annual Report.