Cromwell EREIT Management Pte. Ltd., in its capacity as manager of Cromwell European Real Estate Investment Trust (CEREIT), announced the appointment of Mr. Jonathan Callaghan as Non-Independent Non-Executive Director with effect from 19 June 2023. Mr. Callaghan will also be appointed as a member of the Board's Nominating and Remuneration Committee and the Sustainability Committee.

Following the appointment, the CEREIT Board of Directors (Board) will comprise a total of six directors, of which half are independent including the Chair of the Board, Mr. Lim Swe Guan. As Chair of the Board, Mr. Lim has a second or casting vote in the event of an equality of votes in any meetings of the Directors. Mr. Callaghan is currently the Managing Director and Chief Executive Officer of Cromwell Property Group, the sponsor of CEREIT ("Sponsor").

He joined the Sponsor as its Chief Executive Officer in October 2021 and was appointed to the Sponsor's Board on 7 October 2021. Prior to this, he was at Investa Property Group, where he served as General Counsel and Company Secretary from 2006, before being appointed as Joint Managing Director in 2013, Finance Director in 2014 and CEO in 2016. While at Investa, he oversaw management of the Investa Commercial Property Fund.

During his tenure, Investa was widely regarded as on one of the leading Australian property companies. Earlier in his career, Jonathan spent time at law firms Gilbert & Tobin and Corrs Chambers Westgarth. Mr. Callaghan holds a Master of Applied Finance from Macquarie University and a Bachelor of Science (Hons) and Bachelor of Laws (Hons) from the University of Sydney.

He is a Member of the Australian Property Champions of Change Coalition. While Mr. Callaghan does not have prior experience as director of a company listed in Singapore, he has extensive experiences as a Managing Director of a listed company in Australia. He has also regularly participated in past board meetings of the Manager as invitee, which has allowed him to familiarise himself with the roles and responsibilities of a director of a company listed on the Singapore Exchange Securities Trading Limited (SGX-ST).

Accordingly, the Nominating and Remuneration Committee has assessed Mr. Callaghan's skills and experiences and is of the view that he does not require the compulsory training prescribed by the SGX-ST for newly appointed directors of companies listed on the SGX-ST. Nevertheless, as prescribed by the SGX-ST, Mr. Callaghan will undergo the mandatory sustainability matters training, within 1 year from his appointment's effective date. Consequent to the appointment, the composition of the Company's Board Committees with effect from 19 June 2023 will be as follows: Audit and Risk Committee: Lim Swe Guan - Member; Fang Ai Lian - Chair; Christian Delaire - Member.

Nominating and Remuneration Committee: Lim Swe Guan - Member; Fang Ai Lian - Member; Christian Delaire - Chair; Jonathan Callaghan - Member. Sustainability Committee: Lim Swe Guan - Member; Fang Ai Lian - Member; Christian Delaire - Member; Ooi Eng Peng - Chair; Jonathan Callaghan - Member; Simon Garing - Member.