The directors of Trust consider that good corporate governance practices provide the framework for effective systems and business operations to deliver maximum value to Trust shareholders and other stakeholders.

As a listed company, the Australian Securities Exchange (ASX) Listing Rules require Trust to include a statement in its annual report disclosing the extent to which Trust has followed the Corporate Governance Principles and Recommendations (Recommendations). Trust specifically addresses each of the eight principles and the relevant recommendations below for
the period from 1 March 2008. This corporate governance statement is current as at 14 May 2009.

Trust considers that it complies with all Recommendations except for Recommendation 2.4 and Recommendation 8.1.
These Recommendations suggest that the Remuneration Committee and Nominations Committee have at least three
non-executive director members. Trust has a combined Remuneration and Nominations Committee and the Board considers that given the size of the Trust Board that it is more appropriate that this committee comprise of two, rather than three, non-executive directors.

Download the PDF of the Corporate Governance section of our Annual Report

Additional corporate governance information, including copies of key policies, is provided on our website at: www.trust.com.au/about_us/shareholder_information/corporate_governance

Left to right: Paul O’Neill / Emily Cunich / Peter Bryant

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