The GWSCF Investor Representation Committee (IRC) comprises four Permanent IRC Members (appointed by the four largest holders of GWSCF securities), and four Minority IRC Members (appointed by Minority IRC Appointors). GPT RE Limited (in its capacity as responsible entity of General Property Trust), GPT Management Holdings Limited and their controlled entities are excluded from participating in the IRC.

Permanent membership is reviewed twice a year, on 30 June and 31 December. To the extent that a Permanent IRC Member no longer represents one of the four largest holders of GWSCF securities, a change will be made at that time.

At every GWSCF Annual General Meeting, the term of two of the four Minority IRC Appointors will expire and an election will be held to either re-appoint or replace those Minority Appointors. GWSCF Minority IRC Appointors are appointed by the Minority Investors of GWSCF (being all GWSCF securityholders excluding the “GWSCF Majority Investors”.)

Each Minority IRC Appointor can change its Minority IRC Member from time to time in accordance with the GWSCF Constitution.

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