Mr. Stuart MERCIER, aged 44, has been appointed as an Independent Non-executive Director of our Company since 3 August 2026. He is a real estate investment professional with approximately 20 years of experience investing in, financing and managing real estate across Greater China and the Asia-Pacific region. This includes 13 years at Brookfield Asset Management (“Brookfield”), where he led the firm’s real estate business in Asia. Prior to that, he held roles in institutional real estate asset management at Oxford Properties Group. A Canadian national, he lived and worked in Hong Kong and Shanghai for nearly 15 years and now resides in Singapore.

Mr. Mercier joined Brookfield in 2012 and retired from the firm as a Managing Partner in 2025. He was the founding Head of Real Estate in Asia and, at points during his tenure, served as Country Head for China and for Singapore and as Head of Strategic Initiatives for Brookfield’s global property group. He established Brookfield’s Asia real estate investment and operating platform from its inception, building investment, asset management and property management teams across China, Hong Kong, Japan and Korea and growing the business to more than 350 employees. During his tenure, he led approximately US$15 billion of investment and financing activity in the region across a broad range of real estate sectors. These transactions included corporate mergers and acquisitions as well as direct equity, debt and hybrid structures. His experience in Mainland China spans all phases of the market cycle, including periods of both rapid expansion and dislocation.

As Country Head for China, concurrent with regional responsibilities, Mr. Mercier led Brookfield’s investment and corporate support functions with overall in-country responsibility for the firm’s real estate, renewable power and private equity activities. He negotiated strategic partnerships with domestic and international counterparties, led engagement with regulators and lenders, and established RMB fund management initiatives. Regionally, he led institutional investor relationships for the real estate group and developed and launched private fund strategies.

Mr. Mercier also had responsibility for the audit and risk functions of the Asia real estate platform. This encompassed financial reporting and the valuation of real assets, engagement with auditors and independent valuers, internal control frameworks across multiple jurisdictions, and regulatory and compliance oversight. He also held board positions across a range of private companies, joint ventures and investment vehicles within the Brookfield group.

Mr. Mercier is currently the Chief Executive Officer and Co-Founder of Cairdrow Capital (“Cairdrow”), a Singapore-headquartered private markets consultancy and advisory firm serving family offices and institutions. Cairdrow advises on real estate and alternative investment strategies in the Asia-Pacific region and other global private markets.
Mr. Mercier is a Global Trustee of the Urban Land Institute (“ULI”), a member of ULI Singapore’s Executive Committee and Co-Chair of ULI Singapore’s Capital Markets Committee. He is an advisor to the Canada-China Business Council, having previously served on its board. In 2023 he was awarded the Silver Magnolia Award by the Shanghai Municipal Government, recognising foreign nationals for outstanding contributions to the city’s development, for his contribution to the financial services industry.

Mr. Mercier holds a Bachelor of Arts from Bishop’s University in Canada and a Master of Business Administration from the University of Hong Kong, in partnership with London Business School, where he was a recipient of the New Generation of Leaders scholarship.