CORPORATE GOVERNANCE REPORT 136 Annual Report 2025 Other salient information regarding the ESOS is set out below: Exercise of Options The exercise price of options shall be determined at the discretion of the RC on the date which the options are granted and may be set at: • A price equal to the average of the last dealt prices for the Company’s shares on SGX-ST over the five consecutive trading days immediately preceding the date that option was granted, as determined by the RC by reference to the daily official list or any other publication published by the SGX-ST, rounded to the nearest whole cent in the event of fractional prices (the “Market Price”); or • A discount to the Market Price not exceeding 20 per cent of the Market Price (or such other percentage or amount as may be determined by the RC) in respect of options granted at the time of grant, provided that shareholders in general meeting have authorised, in a separate resolution, the making of offers and grants of options under the ESOS at a discount not exceeding the maximum discount as aforesaid. For the options granted with exercise price set at Market Price, they can be exercised one year from the date of the grant and will expire five years from the date of the grant. For the options granted with exercise price set at a discount to Market Price, they can be exercised two years from the date of the grant and will expire five years from the date of the grant. Duration of the ESOS The ESOS shall be in force for a maximum of 10 years from the date on which the ESOS was adopted. Upon obtaining the approval of shareholders by ordinary resolution in general meeting and of any relevant authorities which may be required, the ESOS may continue beyond 10 years from the date it was adopted. The ESOS will expire on 28 September 2033. The RC will constantly evaluate and assess the adoption of any new share-based compensation scheme or long-term incentive plan, with the aim of enhancing the link between rewards and corporate and individual performance. Further details on the ESOS were set out in the Company’s circular to shareholders dated 6 September 2023. No options have been granted by the Company pursuant to the ESOS. Rex International Performance Share Plan (“Rex PSP”) The Rex PSP was approved by shareholders at an EGM of the Company on 28 September 2023. The objective of the Rex PSP is to promote higher performance goals and recognise the achievements of employees (“Participants”) by motivating and aligning their interests to the Group’s pre-determined goals. The Rex PSP is administered by the RC in consultation with the CEO. Please refer to Provision 6.2 for the members of RC. The Rex PSP will expire on 28 September 2033. The RC will constantly evaluate and assess the adoption of any new share-based compensation scheme or long-term incentive plan, with the aim of enhancing the link between rewards and corporate and individual performance.
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