ARA US Hospitality Trust - Annual Report 2021

88 STATEMENT ON COMPOSITION OF THE BOARD OF DIRECTORS of the ARA H-BT Trustee Manager The Board of Directors of ARA Business Trust Management (USH) Pte. Ltd., the trustee-manager of ARA US Hospitality Management Trust (the “ ARA H-BT Trustee Manager ”), has determined that each of the following Directors is independent from management and business relationships with the ARA H-BT Trustee Manager and from every substantial shareholder of the ARA H-BT Trustee Manager: • Mr Stephen Ray Finch • Mr Randy Allan Daniels • Ms Stefanie Yuen Thio • Mr Wong Choong Mann Mr Moses K. Song, Ms Cheryl Seow Bee Lian and Mr Lin Daqi are considered non-independent Directors. Mr Moses K. Song is the Chief Executive Officer of ARA Asset Management Limited (“ ARA ”) and Ms Cheryl Seow Bee Lian is the Chief Financial Officer of ARA. ARA is a related corporation of the ARA H-BT Trustee Manager and is also a substantial stapled securityholder of ARA US Hospitality Trust. Mr Lin Daqi is the Investment Manager of Haiyi Holdings Pte Ltd, a related corporation of a substantial stapled securityholder of ARA US Hospitality Trust.