Singapore, 1 July 2021 ­ ESR Funds Management (S) Limited, as manager of ESR-REIT announced that Ms. Stefanie Yuen Thio will be re-designated from an Independent Non-Executive Director to the Independent Chairperson of the Manager with effect from 1 July 2021. Ms. Yuen Thio, 51, succeeds Mr. Ooi Eng Peng, who will be re-designated as Non-Executive Director after close to nine years of service. Mr. Ooi will assume the new role of Deputy Chairman to continue guiding ESR-REIT on its growth strategies. He will relinquish his role as the Chairman of the Nominating and Remuneration Committee while continuing as a member of both the NRC and the Audit, Risk Management and Compliance Committee. However, he will remain as the Chairman of the Executive Committee ("EXCO"). Ms. Yuen Thio will continue her duties as a member of the ARCC. Mr. Ronald Lim will be appointed as the Chairman of NRC succeeding Mr. Ooi's role. Ms. Stefanie Yuen Thio is the Joint Managing Partner of TSMP Law Corporation and heads its corporate practice. Ms. Yuen Thio is a director of the Community Foundation of Singapore, an Institution of Public Character that promotes philanthropy in Singapore. She is currently an Independent Non-Executive Director of ARA Business Trust Management (USH) Pte Ltd, the manager of ARA US Hospitality Trust (BT Trustee Manager), and Independent Non-Executive Director of ARA Trust Management (USH) Pte Ltd, the manager of ARA US Hospitality Property Trust (REIT Manager) and chairs its audit committee, and an Independent Director of Singapore Medical Group Limited.