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DBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access 13 October 2026
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2 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Disclaimer This presentation (“Presentation”) is prepared by CapitaLand China Trust Management Limited (“Manager”) and is strictly confidential to the person to whom it is provided. This Presentation is for general informational purposes only and is provided on the basis that it should not be relied upon for any purpose other than the purposes of discussion. The transactions and information described in this Presentation are for illustration only and do not create any legally binding obligations and remain subject to negotiation and execution of final documentation (if any) on terms satisfactory to the Manager and the recipient(s) of this Presentation. This presentation is for informational purposes only and does not constitute an advertisement or an offer to sell any securities, funds, or investment products or services ("Products"). Any investment decision should be based on a thorough review of the offering materials and due diligence by the prospective investor. The information herein is not intended to be an offer, sale or invitation for subscription or purchase of any Products or a solicitation to use the Manager’s and its affiliates’ services, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment on the part of any person proceeding with any transactions. This Presentation may contain forward-looking statements. By their nature, forward-looking statements are subject to numerous assumptions, risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements because they relate to events and depend on circumstances that may or may not occur in the future. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Forward-looking statements are not guarantees of future performance. The forward-looking statements are based on the current view of management as of the date of such statements, regarding future events. None of the Manager and its affiliates assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events or otherwise. The contents of the Presentation contain information from published and non-published sources and third-party information from sources believed to be reliable. The accuracy of such information has not been independently verified by the Manager and its affiliates. Unless otherwise stated, data is sourced from the Manager and the information is based on matters as they exist as of the date of its preparation and is subject to change. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither the Manager nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation. The past performance of CapitaLand China Trust (“CLCT”) is not indicative of future performance. The listing of the units in the CLCT (“Units”) on the Singapore Exchange Securities Trading Limited (the “SGX-ST”) does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units. Copyright of the Presentation solely and exclusively belongs to the Manager. The Presentation must not be reproduced, shared, copied, used, disclosed or otherwise made available to any other person, directly or indirectly, in whole or in part, without the prior express written consent of the Manager. The receipt of this Presentation by its recipients implies their full acceptance of the above statements.
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CapitaLand China Trust Agenda 01 02 03 04 05 06 DBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Overview of CLCT 1H 2026 Financial Results Portfolio Overview Capital Management Looking Forward Appendix
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01 Overview of CLCT
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5 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access First and Largest China-Focused S-REIT Offers Diversified Exposure to China’s Domestic Growth, with Unique Connectivity to both S-REIT and C-REIT Markets Notes: 1. As at 30 June 2026. 2. Total Assets include 5% stake in CLCR I with closing price of RMB 5.841 as at 30 June 2026. 3. As at 30 June 2026 on a 100% basis. 4. As at 30 September 2026. 5. Based on trailing 12 months DPU (1 July 2025 to 30 June 2026) of 4.78 S cents, which included a distribution top-up of 0.33 S cents, and unit price of S$0.620 as at 30 September 2026. Total Assets1,2 S$4.6 billion Market Cap4 S$1.1 billion Distribution Yield5 7.7% Gross Floor Area (sq m)1 ~1.7 million Sponsor’s Stake in CLCT1 25% 70.6% Retail Key asset class positioned to benefit from government initiatives aimed at boosting domestic consumption, enhancing long-term retail demand 26.0% Business Parks 3.4% Logistics Parks Strategically aligned with China's technology and innovation-driven agenda, providing exposure to key sectors such as Semiconductors, Electronics, and Information & Communications Technology (ICT) Asset class by GRI3
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02 1H 2026 Financial Results
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7 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access 1H 2026 Highlights IR/FIN/IPM WIP Notes: 1. All 1H 2026 financial figures exclude CapitaMall Yuhuating as it was divested in October 2025. 2. Based on committed leases as at 30 June 2026. 3. Based on average rent of new leases vs average rent of preceding leases. 4. Excluding automobile sales, 1H 2026 tenant sales would increase by 7.5% YoY and tenant sales per sqm would increase by 1.9% YoY. 5. Aggregate leverage is calculated based on the proportional share of total borrowings and deferred payments over deposited properties. CLCT does not have any deferred payments. 6. Based on the consolidated interest expense YTD for the respective financial period over weighted average borrowings on balance sheet for that financial period. 7. ICR ratio is calculated in accordance with the Property Funds Appendix guidelines with effect from 28 November 2024. FINANCIAL PERFORMANCE1 CAPITAL MANAGEMENTRETAIL OPERATIONAL PERFORMANCE RMB 822.6 million Gross Revenue 40.4% Aggregate Leverage5 2.45 S cents Distribution per Unit RMB 561.0 million Net Property Income 3.06% Average Cost of Debt6 2.9x Interest Coverage Ratio7 3.0 years Average Term to Maturity +3.2% Shopper Traffic +2.6% Tenants’ Sales4 -2.7% Rental Reversion3 97.3% Occupancy2
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8 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access 2.38 2.00 2.45 1H 2025 2H 2025 1H 2026 1H 2026 DPU Outperformed 1H 2025 DPU on a Same-Store Basis FIN WIP Distribution per Unit (S cents) -1.6% YoY • On a same-store basis excluding CapitaMall Yuhuating’s contribution in 1H 2025, DPU for 1H 2026 increased by 2.9% YoY from 2.38 S cents • 1H 2026 DPU declined by 1.6% YoY, despite lower finance costs, impacted by absence of contribution from CapitaMall Yuhuating and lower performance from business parks and logistics parks, coupled with higher realised foreign exchange loss CapitaMall Yuhuating 0.33 0.11 vs 1H 2025
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9 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access 1H 2026 Financial Results Highlights Gross Revenue (RMB million) 586.3 590.8 238.3 231.8 1H 2025 1H 2026 Retail CapitaMall Yuhuating FIN Same-store basis1: -0.2% YoY -5.2% YoY WIP Business Parks/ Logistics Parks 43.0 • Retail revenue -6.1% YoY, mainly due to: ➢ Divestment of CapitaMall Yuhuating. Retail revenue increased by 0.8% YoY on same-store basis1 ➢ Improved performance in CapitaMall Xizhimen, CapitaMall Wangjing and CapitaMall Xuefu post AEIs completion, as well as the recognition of income from the forfeiture of tenants’ security deposits ➢ Partially offset by lower occupancy and rental rates at CapitaMall Xinnan, CapitaMall Grand Canyon and CapitaMall Aidemengdun • Business Park/Logistics Park revenue -2.7% YoY, mainly due to: ➢ Improved occupancy at Shanghai Fengxian Logistics Park ➢ Offset by lower performance at Singapore-Hangzhou Science & Technology Park Phase I & II, Kunshan Bacheng Logistics Park, Wuhan Yangluo Logistics Park and Chengdu Shuangliu Logistics Park • Decline in NPI mainly due to absence of contribution from CapitaMall Yuhuating, partially mitigated by cost reduction of 3.5% YoY on same-store basis and interest savings of 16% YoY from proactive capital management initiatives Net Property Income (RMB million) 391.7 396.5 161.9 164.5 1H 2025 1H 2026 Same-store basis1: +1.3% YoY -3.3% YoY Retail CapitaMall Yuhuating Business Parks/ Logistics Parks 26.7 Note: 1. Excluding contribution from CapitaMall Yuhuating in 1H 2025.
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03 Portfolio Overview
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11 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Portfolio Operating Metrics1 Notes: 1. As at 30 June 2026 unless otherwise stated. 2. Based on a 100% basis as at 31 December 2025. 3. Based on committed leases as at 30 June 2026. IPM Updated Gross Floor Area (sq m) 712,753 Gross Floor Area (sq m) 764,449 Gross Floor Area (sq m) 265,260 Occupancy3 (%) 97.3 Valuation (RMB billion)2 16.2 Occupancy3 (%) 85.1 Valuation (RMB billion)2 5.4 Occupancy3 (%) 99.0 Valuation (RMB billion)2 1.4 Retail Business Park Logistics Park
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12 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Improvements in Retail Portfolio Shopper Traffic and Tenant Sales Notes: 1. Excluding automobile sales, 1H 2026 tenant sales would increase by 7.5% YoY and tenant sales per sqm would increase by 1.9% YoY. 2. Excludes supermarket and department store. 1H YoY Shopper Traffic (million) 1H YoY Tenant Sales (RMB million) 1H YoY +3.2% 1H YoY +2.6%1 1H YoY Sales Improvements in Key Trade Sectors IT & Telecommunications: +5.1% 4.8% of Retail GRI Spending boost from consumption vouchers Food & Beverage: +3.5% 39.2% of Retail GRI Introduction of trending dining brands in the market Occupancy Cost Remained Stable at 17.5%2 27.5% 18.4% 18.4% 17.5% 17.5% 2022 2023 2024 2025 1H 2026 IPM Toys & Hobbies: +42.6% 2.3% of Retail GRI Rising popularity of collectible toy market Sporting Goods & Apparel: +34.9% 4.0% of Retail GRI Introduction of popular sports and lifestyle brands WIP 0 50 100 1H 2025 1H 2026 0 2,000 4,000 1H 2025 1H 2026 Three New Supermarkets Delivered RMB 153 million in 1H 2026 Tenant Sales, Driving Material Traffic Growth across Malls CapitaMall Xuefu CapitaMall Xizhimen CapitaMall Wangjing 1H 2026 Traffic: +11.0% YoY +4.7% YoY+6.4% YoY
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13 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access High Retail Occupancy of 97.3%1 Notes: 1. Based on committed leases as at 30 June 2026. 2. Excludes area undergoing AEI. 3. The decline in committed occupancy was attributed to the repositioning of certain spaces to enhance the tenant mix by incorporating more food & beverage and experiential tenants. 4. Based on average rent of new leases vs average rent of preceding leases. 5. Excluding two planned anchor adjustments and EV, Retail Portfolio reversion is -2.3%. 96.9% 97.1% 97.2% 97.0% 97.3% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Committed Occupancy 30-Jun-25 30-Sep-25 31-Dec-25 31-Mar-26 30-Jun-26 CapitaMall Xizhimen 97.6% 99.6% 99.1% 99.8% 99.4% Rock Square 98.9% 99.0% 99.0% 99.3% 99.1% CapitaMall Wangjing 95.9%2 95.0% 96.0% 95.2% 96.1% CapitaMall Grand Canyon 97.0% 98.1% 96.9% 95.9% 98.7% CapitaMall Xuefu 99.4% 99.0% 98.8% 98.9% 98.0% CapitaMall Xinnan 87.4% 86.7% 88.4% 86.8%3 86.9% CapitaMall Nuohemule 100.0% 100.0% 99.5% 100.0% 99.9% CapitaMall Aidemengdun 95.6% 95.7% 96.6% 96.4% 97.9% 1H 2026 Retail Reversion: -2.7%4,5 Reflecting strategic lease actions taken to upgrade two major anchor positions, reinforcing the malls’ core attractiveness and paving the way for a more robust surrounding tenant ecosystem. Committed Occupancy IPM Updated
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14 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Business Park Occupancy of 85.1%1 Notes: 1. Based on committed leases as at 30 June 2026. 2. Based on average rent of new leases vs average rent of preceding leases. 86.9% 85.2% 86.7% 86.0% 85.1% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Committed Occupancy Committed Occupancy 30-Jun-25 30-Sep-25 31-Dec-25 31-Mar-26 30-Jun-26 Ascendas Xinsu Portfolio 96.5% 95.9% 95.3% 95.9% 95.4% Ascendas Innovation Towers 74.6% 75.4% 85.2% 82.2% 80.1% Ascendas Innovation Hub 89.3% 85.8% 86.7% 90.7% 90.7% Singapore-Hangzhou Science & Technology Park Phase I 73.8% 76.0% 73.6% 71.9% 71.0% Singapore-Hangzhou Science & Technology Park Phase II 79.7% 70.7% 74.9% 71.8% 70.6% 1H 2026 Business Park Reversion: -12.0%2 • Proactively prioritised occupancy through active retention of existing tenants and conversion of new leasing pipelines. Approximately 102k sq m of renewals and new leases were secured in 1H 2026, representing about 14.3% of total Business Park NLA. • Customised leasing solutions implemented to support pipeline conversion, including the installation of additional elevators and the provision of tailored showroom and fit-out configurations to meet tenant requirements. IPM Updated
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15 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Business Parks Occupancy Outpacing Oversupplied Submarkets through Active Leasing and Asset Management Note: 1. Colliers 2Q 2026: Suzhou, Xi’an and Hangzhou Business Park Market Overview. Ascendas Xinsu Portfolio: With a strong market position, brand recognition, and premium location, the asset is well- positioned to capture demand in high-growth sectors. AIT & AIH: Despite strong market competition, the combined occupancy of AIT and AIH has surpassed submarket levels, supported by proactive leasing efforts. SHSTP Phase I & II: Experiencing challenging leasing climate; focused on retaining tenants and improving occupancy. 73.1%1 95.4% Suzhou Business Park Submarket Ascendas Xinsu Portfolio 81.6%1 83.0% Xi'an Business Park Submarket AIT & AIH (Combined Occupancy) 52.0%1 70.8% Hangzhou Business Park Submarket SHSTP Phase I & II (Combined Occupancy) IPM Updated
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16 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access High Logistics Park Occupancy of 99.0%1 96.6% 96.6% 98.1% 99.0% 99.0% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Committed Occupancy 30-Jun-25 30-Sep-25 31-Dec-25 31-Mar-26 30-Jun-26 Shanghai Fengxian Logistics Park 100.0% 100.0% 100.0% 100.0% 100.0% Kunshan Bacheng Logistics Park 100.0% 100.0% 100.0% 100.0% 100.0% Wuhan Yangluo Logistics Park 100.0% 100.0% 100.0% 100.0% 100.0% Chengdu Shuangliu Logistics Park 86.4% 86.5% 92.3% 96.2% 96.2% 1H 2026 Logistics Park Reversion: -1.2%2 Following proactive leasing of 18.2k sq m of executed space, rental reversion improved from -24.5% in FY 2025 to -1.2% in 1H 2026, indicating signs of bottoming in rental decline. Committed Occupancy IPM WIPUpdated Notes: 1. Based on committed leases as at 30 June 2026. 2. Based on average rent of new leases vs average rent of preceding leases.
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17 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Distribution Schedule IPM/FIN Last Day of Trading on “cum” Basis 12 August 2026, 5.00 pm Ex-Date 13 August 2026, 9.00 am Record Date 14 August 2026, 5.00 pm Distribution Payment Date 9 September 2026 Distribution Per Unit 2.45 S Cents Distribution Period 1 January 2026 to 30 June 2026 Updated
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04 Capital Management
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19 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Healthy Funding Matrix 30 June 2026 31 March 2026 30 June 2025 Total Deposited Property (S$ million) 4,272.2 4,143.2 4,287.0 Aggregate Leverage1 40.4% 41.4% 42.1% Average Term to Maturity (years) 3.0 3.2 3.6 Average Cost of Debt2 3.06% 3.10% 3.42% Interest Coverage Ratio (ICR)3 2.9x 2.9x 2.9x % of Borrowings on Fixed Interest Rate 71% 65% 87% % RMB-denominated Debt4 73% 59% 41% ICR Sensitivity Analyses Impact of Exchange Rate Movement on Gearing Movement ICR3 100 bps increase in weighted average interest 2.3x 10% decrease in EBITDA 2.6x Movement in SGD/RMB Aggregate Leverage +/- 1% +/- 0.1% Impact to Distribution from Floating Loan Interest Rate Movement Change in Interest Rate Distribution Impact p.a (S$’m) DPU Impact (¢) DPU Impact (%) SGD +/- 50bps -/+ 0.5 -/+ 0.03 -/+ 0.6 RMB +/- 50bps -/+ 2.1 -/+ 0.12 -/+ 2.5 Notes: 1. Aggregate leverage is calculated based on the proportional share of total borrowings and deferred payments over deposited properties. CLCT does not have any deferred payments. 2. Based on the consolidated interest expense YTD for the respective financial period over weighted average borrowings on balance sheet for that financial period. 3. ICR ratio is calculated in accordance with the Property Funds Appendix guidelines with effect from 28 November 2024. 4. Include RMB synthetic borrowings via cross-currency swaps. Including FX forward contracts, 92% of the total debt is denominated in RMB. Proactive capital management contributes to reduction in average cost of debt with interest savings of 16% YoY
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20 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Debt Maturity Profile with Diversified Funding Sources FTZ Bond matures in October 2026 (RMB600 million @ 3.8%). As at 30 June 2026, we have existing undrawn revolving facilities of S$516 million to refinance the borrowing due, while we continue to source for optimal funding options. Proactive capital management lowered overall cost of funding while balancing currency exposure 227.4 25.0 205.0 150.0 150.0 150.0 112.7 75.2 112.8 187.9 112.7 2.9 7.1 11.2 77.6 9.7 13.3 14.6 91.7 2026 2027 2028 2029 2030 2031 2032 Beyond SGD Loan SGD Bond under MTN Programme Offshore RMB Bond Offshore RMB Loan Onshore RMB Loan Total Debt 115.6 309.7 298.9 470.5 272.4 163.3 14.6 91.7 1,736.8(S$ million) % of Total Debt maturing by 6.7% 17.8% 17.2% 27.1% 15.7% 9.4% 0.8% 5.3% 100.0% end of the year Total 47% 26% 27% RMB Debt RMB Synthetic Borrowings SGD Debt
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05 Looking Forward
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22 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Our Strategy: Create Value 2026: Target expansion of retail presence in Tier 1 and 2 cities while maintaining stable occupancy across business and logistics parks Unlock Value 2026: Proactively identify and recycle mature assets to unlock value and support portfolio optimisation Extract Value 2026: Continue to evaluate potential new AEI opportunities in existing malls and potential acquisition targets Proactive Capital Management 2026: Expand RMB debt access, balancing currency hedging and lowering cost of debt Build a Balanced Multi-Asset Portfolio to Leverage China’s Domestic Consumption Growth and Innovation-Driven Economy
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23 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Business Outlook Notes: 1. China National Bureau of Statistics. 2. CNBC, China factory activity grows faster than expected in June on tech export demand, 30 June 2026. 3. South China Morning Post, What’s at stake as China prioritises household spending in new five-year plan, 14 July 2026. 4. China Briefing, China’s Two Sessions 2026: Key Takeaways from the Government Work Report, 5 March 2026. 5. Reuters, China to boost spending to meet growth target amid rising global uncertainty, 6 March 2026. 6. Reuters, China keeps lending benchmark LPRs unchanged for 13th month in June, 22 June 2026. 7. Reuters, China's coal power on the rise again in 2026, reversing first-in-a-decade decline, 24 June 2026. 8. J.P. Morgan, China: Soft Growth Amid Mounting Structural Challenges, 3 July 2026. 9. Reuters, Oil prices settle at pre-Iran war levels as crude output grows, 7 July 2026. China’s GDP grew 4.7% YoY for the first half of 2026 while retail sales rose 1.3% YoY in June 20261, rebounding from a 0.6% decline last month. • The Manufacturing PMI returned to expansionary territory at 50.3% in June 2026, supported by robust export demand for AI-related products and front-loading of shipments to the United States ahead of the expected tariff hikes later this year.2 • In July 2026, Beijing unveiled its first standalone five-year consumption plan, with a 2030 retail sales target of US$8.85 trillion to steady growth amid softening economic momentum.3 Middle East tensions may add external cost pressures to China’s business outlook, although domestic coal supply provides some energy buffer.7 • While the Middle East conflict raised energy and shipping risks, but diversified supply, reserves, coal flexibility, electrification and renewables have limited the macro pass-through.8 • Oil prices eased back to around pre-Iran war levels in early July as supply increased and Strait of Hormuz exports recovered, though renewed regional volatility could still place pressure on manufacturer margins and business confidence.9 At China’s 2026 Two Sessions, policymakers have reaffirmed their commitment to maintaining a proactive fiscal policy and an “appropriately accommodative” monetary stance to support growth and strengthen domestic demand.4 • China announced a more proactive fiscal policy, including a 4.0% deficit-to-GDP ratio4, record-high fiscal expenditure and increased government bond issuance to support infrastructure, public services and domestic demand.5 • In June 2026, PBOC has kept the one-year and five-year Loan Prime Rates unchanged at 3.00% and 3.50%, respectively.6 Notwithstanding the above, second-order effects may still emerge over time and management continues to closely monitor developments and potential implications.
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06 Appendix
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25 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Attractive Yield Spread and Healthy Trading Liquidity 1 year6 ~2.0 million 10 year7 ~2.7 million IPO8 ~2.1 million Sources: Bloomberg, CLCTML, Monetary Authority of Singapore. 1. Based on trailing 12 months DPU (1 July 2025 to 30 June 2026) of 4.78 S cents and unit price of S$0.620 as at 30 Sep 2026. 2. Trailing 12-months dividend yield of Straits Times REIT Index as at 30 Sep 2026 closing price. 3. Trailing 12-months dividend yield of Straits Times Real Estate Index as at 30 Sep 2026 closing price. 4. Trailing 12-months dividend yield of Straits Times Index stocks as at 30 Sep 2026 closing price. 5. Singapore Government 10-year and China Government 10-year bond yields as at 30 Sep 2026. 2.5% 1.7% 3.8% 4.7% 5.1% 7.7% Singapore 10-year Govt Bond Yield China 10-year Govt Bond Yield STI Yield FSTRE Yield FSTREI Yield CLCT 3.0% 5.2% 6.0% 3.9% 1 2 3 4 5 5 Source: Bloomberg 6. 1 year refers to 1 Oct 2025 to 30 Sep 2026. 7. 10 year refers to 1 Oct 2016 to 30 Sep 2026. 8. Since IPO to 30 Sep 2026. 2.6% Comparative Yields Average Trading Volume (Units per Day)
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26 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Glossary • AEI: Asset Enhancement Initiative • AUM: Assets under Management • BPS: Basis Points • C-REIT: China Real Estate Investment Trust • CLCR I: CapitaLand Consumption C-REIT (formerly known as CapitaLand Commercial C-REIT (CLCR)) • CLCT: CapitaLand China Trust • DPU: Distribution per Unit • FY: Financial Year • GDP: Gross Domestic Product • GRI: Gross Rental Income • GFA: Gross Floor Area • ICR: Interest Coverage Ratio • NAV: Net Asset Value • NLA: Net Lettable Area • NPI: Net Property Income • PBOC: People’s Bank of China • PMI: Purchasing Managers’ Index • PPI: Producer Price Index • QoQ: Quarter-on-Quarter • RMB: Renminbi • S-REIT: Singapore Real Estate Investment Trust • Same store basis: Excluding contributions from CapitaMall Yuhuating in 1H 2025 • SGD: Singapore Dollar • SQ M: Square Metres • WALE: Weighted Average Lease Expiry • YoY: Year-on-Year
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27 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access 1H 2026 Financial Highlights Notes: 1. The amount retained refers to the distribution contributed from CapitaMall Yuhuating from 1 April 2025 to 30 June 2025 (2Q 2025) attributable to CLCR I. 2. The DPU is computed based on total issued units of 1,757.2 million and 1,740.0 million in 1H 2026 and 1H 2025 respectively. 3. On a same-store basis, excluding CapitaMall Yuhuating’s contribution in 1H 2025, DPU for 1H 2026 increased by 2.9% YoY from 2.38 S cents. 1H 2026 1H 2025 1H 2026 vs 1H 2025 (%) Gross Revenue (RMB’000) 822,600 867,644 (5.2) Net Property Income (RMB’000) 561,018 580,265 (3.3) Amount available for distribution to Unitholders (S$’000) 43,165 45,173 (4.4) Amount retained (S$’000) - (1,754)1 (100.0) Distributable amount to Unitholders (S$’000) 43,165 43,419 (0.6) Distribution Per Unit (before amount retained) (S cents) 2.45 2.59 (5.4) Distribution Per Unit (S cents)2,3 2.45 2.49 (1.6) FIN WIP
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28 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Gross Revenue (in RMB’mil) Portfolio 590.8 209.0 22.8 629.3 214.2 24.1 Retail Business Park Logistics Park 822.6 RMB mil 1H 2026 -5.2% YoY 867.6 RMB mil 1H 2025 FIN WIPUpdated 1H 20251H 2026 CapitaMall Yuhuating 43.0
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29 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Net Property Income (in RMB’mil) Portfolio 396.5 150.8 13.7 418.4 147.2 14.7 Retail Business Park Logistics Park 561.0 RMB mil 1H 2026 -3.3% YoY 580.3 RMB mil 1H 2025 FIN WIPUpdated 1H 20251H 2026 CapitaMall Yuhuating 26.7
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30 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Stable Balance Sheet S$’000 30 June 2026 31 December 2025 Non-Current Assets 4,346,172 4,230,689 Current Assets 261,647 254,080 Total Assets 4,607,819 4,484,769 Current Liabilities 462,540 264,443 Non-Current Liabilities 1,870,660 1,992,621 Total Liabilities 2,333,200 2,257,064 Unitholders' Funds 1,832,221 1,789,624 Perpetual Securities Holders 149,788 149,788 Non-Controlling Interest 292,610 288,293 Net Assets 2,274,619 2,227,705 Units in Issue (’000 units) 1,757,150 1,740,903 Net Asset Value per Unit 1.04 1.03 Net Asset Value per Unit (Net of Distribution) 1.02 1.00 FIN WIP Note: The closing exchange rate for SGD/RMB as at 30 June 2026 and 31 December 2025 were 5.321 and 5.466 respectively.
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31 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Improved Portfolio Stability by Mitigating Tenant Concentration Risks No. Tenant Trade Sector Asset Class % of Total Rental Income 1 JD.com Group of Companies E-commerce, Logistics and Warehouse, Supermarket Retail, Logistics Park 1.4% 2 Bestseller Group of Companies Fashion & Accessories Retail 0.9% 3 POP MART Holding Limited Toys & Hobbies Retail 0.9% 4 Guangdong Aeon Teem Supermarket Retail 0.9% 5 Yun Feng Logistics Logistics and Warehouse Logistics Park 0.8% 6 Yum China Holdings, Inc Food & Beverage Retail 0.8% 7 BHG Group of Companies Supermarket Retail 0.7% 8 Bosideng International Holdings Limited Fashion & Accessories Retail 0.7% 9 Biyoute Commercial Group Supermarket Retail 0.6% 10 Ping An Insurance Company Financial Services Business Park 0.6% Total 8.3% Well represented and diversified leases across the retail, business park, and logistics park sectors Contribution by Top 10 Tenants 8.3%1 8.3%2 Jun-25 Jun-26 Notes: 1. Based on percentage of Total Rental Income in the month of June 2025. 2. Based on percentage of Total Rental Income in the month of June 2026. IPM updated
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32 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access 18.6% 36.7% 18.7% 11.0% 6.8% 8.2% 16.6% 39.3% 23.3% 12.2% 5.1% 3.5% 34.0% 22.6% 9.6% 3.6% 0.0% 30.2% 2026 2027 2028 2029 2030 Beyond 2030 Portfolio Lease Expiry Profile1 WALE (Years) Retail Business Park Logistics Park Portfolio By Gross Rental Income2 2.1 1.8 2.7 2.0 By Net Lettable Area 3.4 1.8 2.7 2.4 Notes: 1. Based on committed leases for both new leases and forward renewals as at 30 June 2026. 2. Excludes gross turnover rent. Portfolio WALE Remains Stable at 2.4 years by NLA % of total Gross Rental Income2 Retail Business Park Logistics Park IPM Updated
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33 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Driving New Leases and Tenant Retention Through Active Leasing Momentum Top 3 trade categories for new leases 1. Supermarket 2. Food & Beverage 3. Fashion & Accessories Top 3 trade categories for new leases 1. E-commerce 2. Engineering 3. Electronics Active leasing to maintain occupancy levels 1H 2026 Retail Leases by NLA New Leases, 32.6% Renewed Leases, 67.4% Retail Business Park 1H 2026 Business Park Leases by NLA New Leases, 37.9% Renewed Leases, 62.1% Logistics Park 1H 2026 Logistics Park Leases by NLA New Leases, 39.4% Renewed Leases, 60.6% IPM updated
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34 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Note: 1. Based on valuation on a 100% basis as at 31 December 2025. Beijing, 51.4% Guangzhou, 21.0% Harbin, 13.3% Chengdu, 8.0% Hohhot, 6.3% Retail Portfolio Overview Total Valuation1 (RMB billion) 16.2 Retail Malls1 8 Cities (across 3 core city clusters) 5 IPM Updated
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35 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Retail Portfolio Lease Expiry Profile Notes: 1. Based on committed leases for both new leases and forward renewals as at 30 June 2026. 2. Excludes gross turnover rent. 3. As a percentage of monthly contractual gross rental income as at 30 June 2026. 4. As a percentage of monthly committed net lettable area as at 30 June 2026. Lease Expiry Profile by Year1 Year No. of Leases % of Gross Rental Income2,3 % of Net Lettable Area4 2026 484 18.6% 13.0% 2027 975 36.7% 30.0% 2028 326 18.7% 15.0% 2029 134 11.0% 10.2% 2030 76 6.8% 8.6% Beyond 2030 55 8.2% 23.2% By Gross Rental Income2 2.1 Weighted Average Lease Expiry (years) By Net Lettable Area 3.4 IPM Updated
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36 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Building Strength through Active Tenancy Remixing Notes: 1. As at 30 June 2026. 2. As at 30 June 2025. Retail contributes 70.6% of Portfolio GRI Tenant Sector by Retail GRI1 Food & Beverage 39.2% Fashion & Accessories 16.9% Beauty & Healthcare 6.0% IT & Telecommunications 4.8% Leisure & Entertainment 4.8% Services 4.1% Sporting Goods & Apparel 4.0% Supermarket 3.6% Jewellery & Watches 3.5% Gifts & Souvenirs 3.3% Toys & Hobbies 2.3% Other Retail and Product Trades 7.5% IT & Telecommunications Increased from 4.1%2 to 4.8%1, reflecting successful AEI-driven tenant optimisation at CapitaMall Xuefu and CapitaMall Wangjing, enhancing category appeal and catering to evolving consumer needs. Sporting Goods & Apparel Increased from 3.8%2 to 4.0%1, driven by new signings of popular brands such as Decathlon, The North Face and ANTA Guanjun, broadening the mall’s lifestyle and activewear offering. Toys & Hobbies Increased from 1.5%2 to 2.3%1, supported by the rising popularity of collectibles and designer toys, strengthening the portfolio’s appeal to younger consumers and collectors. IPM WIP
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37 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Enhancing Retail Offerings at CapitaMall Nuohemule IPM WIPWIP • Launched Yonghui Supermarket at CapitaMall Nuohemule (~5,500 sq m) as a new anchor tenant, further strengthening the mall’s retail offering. • Operating under Yonghui’s upgraded retail model, the supermarket differs from the traditional hypermarket format where it features high-quality merchandise, a broad product assortment, and enhanced customer service standards, delivering an engaging shopper experience. • Since its opening on 16 June 2026, the store has achieved sales of more than RMB 10 million in its first week of operation, delivering sales per sq m of approximately RMB 8,500, reflecting strong consumer demand and encouraging market reception. Yonghui Supermarket First store in Hohhot
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38 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Designing Engaging Lifestyle Experiences IPM WIP Heilongjiang’s First Hamburger Festival at CapitaMall Xuefu Hosted Heilongjiang's First Hamburger Festival at CapitaMall Xuefu, bringing together more than 70 brands through experiential booths and promotional campaigns in an interactive lifestyle marketplace. The event attracted record single- day footfall of over 94,000 visitors and drove notable sales growth, reinforcing the mall's positioning as a premier lifestyle and dining destination. Urban Pet Camping Event at CapitaMall Nuohemule Organised an Urban Pet Camping Event at CapitaMall Nuohemule, offering diverse experiential activities including pet camping- themed installations, interactive games, pet- owner interactions, photo-taking opportunities, pet treats and giveaways. The event garnered over 78,000 visitors, showcasing the mall as a vibrant pet-friendly destination and social hub for the local community. Waste Sorting Awareness Campaign at CapitaMall Aidemengdun Co-hosted the Waste Sorting Awareness Campaign at CapitaMall Aidemengdun in partnership with local communities and volunteer organisations, featuring interactive waste-sorting activities, performances and family engagement programmes. The event fostered environmental awareness and community participation, underscoring the mall's community-centric positioning and commitment to sustainability. Updated
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39 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Business Park Portfolio Overview Total Valuation1 (RMB billion) 5.4 Business Parks1 5 Cities 3 Xi’an, 22.5% Suzhou, 43.6% Hangzhou, 33.9% IPM Updated Note: 1. Based on valuation on a 100% basis as at 31 December 2025.
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40 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Business Park Portfolio Lease Expiry Profile Notes: 1. Based on committed leases for both new leases and forward renewals as at 30 June 2026. 2. As a percentage of monthly contractual gross rental income as at 30 June 2026. 3. As a percentage of monthly committed net lettable area as at 30 June 2026. Lease Expiry Profile by Year1 Year No. of Leases % of Gross Rental Income2 % of Net Lettable Area3 2026 202 16.6% 15.7% 2027 419 39.3% 38.5% 2028 187 23.3% 24.1% 2029 87 12.2% 12.7% 2030 38 5.1% 5.7% Beyond 2030 9 3.5% 3.3% By Gross Rental Income 1.8 Weighted Average Lease Expiry (years) By Net Lettable Area 1.8 IPM Updated
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41 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Proactively Attracting Tenants Across Sectors for Business and Logistics Parks Notes: 1. As at 30 June 2026 on a 100% basis. 2. As at 30 June 2025 on a 100% basis. Business Parks and Logistics Parks contribute 26.0% and 3.4% of Portfolio GRI respectively Electronics 20.5% Engineering 17.0% Information & Communications Technology 8.9% Professional Services 8.5% E-Commerce 6.9% Biomedical Sciences 6.9% Culture / Sports / Entertainment 3.2% Financial Services 2.3% Other Business Parks & Logistics Park Trades 25.8% Engineering increased from 15.1%2 to 17.0%1, driven by new commitments with several companies across multiple portfolio parks secured in 2025 and 2026. Tenant Sector by Business Park and Logistics Park GRI1 Electronics increased from 18.9%2 to 20.5%1, driven by new commitments with several companies in Ascendas Xinsu Portfolio and Ascendas Innovation Hub secured in 2025. IPM
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42 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Logistics Park Portfolio Overview Total Valuation1 (RMB billion) 1.4 Logistics Parks 4 Cities 4 Wuhan, 23.8% Chengdu, 23.6% Kunshan, 20.6% Shanghai, 32.0% IPM Updated Note: 1. Based on valuation on a 100% basis as at 31 December 2025.
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43 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Logistics Park Portfolio Lease Expiry Profile Notes: 1. Based on committed leases for both new leases and forward renewals as at 30 June 2026. 2. As a percentage of monthly contractual gross rental income as at 30 June 2026. 3. As a percentage of monthly committed net lettable area as at 30 June 2026. Lease Expiry Profile by Year1 Year No. of Leases % of Gross Rental Income2 % of Net Lettable Area3 2026 112 34.0% 41.1% 2027 34 22.6% 17.2% 2028 7 9.6% 8.3% 2029 9 3.6% 2.6% 2030 - - - Beyond 2030 4 30.2% 30.8% By Gross Rental Income 2.7 Weighted Average Lease Expiry (years) By Net Lettable Area 2.7 IPM WIPUpdated
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44 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Portfolio at a Glance1 Notes: 1. As at 30 June 2026. 2. Based on valuation on a 100% basis as at 31 December 2025. CapitaMall Xizhimen 凯德MALL•西直门 Rock Square 乐峰广场 CapitaMall Wangjing 凯德MALL•望京 CapitaMall Xuefu 凯德广场•学府 Location Beijing Guangzhou Beijing Harbin GFA (sq m) 83,075 88,279 83,768 123,811 NLA (sq m) 50,447 53,026 41,611 63,202 Land Use Right Expiry 23 Aug 2044 23 Aug 2054 17 Oct 2045 15 May 2043 15 May 2053 15 Dec 2045 Valuation (RMB mil)2 3,741 3,410 2,822 1,789 Committed Occupancy 99.4% 99.1% 96.1% 98.0% Stake 100.0% 100.0% 100.0% 100.0% IPM UpdatedUpdated
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45 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Portfolio at a Glance1 Notes: 1. As at 30 June 2026. 2. Based on valuation on a 100% basis as at 31 December 2025. CapitaMall Grand Canyon 凯德MALL• 大峡谷 CapitaMall Xinnan 凯德广场• 新南 CapitaMall Nuohemule 凯德广场•诺和木勒 CapitaMall Aidemengdun 凯德MALL•埃德蒙顿 Location Beijing Chengdu Hohhot Harbin GFA (sq m) 92,918 91,816 100,047 49,040 NLA (sq m) 40,683 36,826 44,602 28,130 Land Use Right Expiry 29 Aug 2044 29 Aug 2054 17 Oct 2047 26 Jul 2049 7 Sep 2042 Valuation (RMB mil)2 1,780 1,303 1,030 369 Committed Occupancy 98.7% 86.9% 99.9% 97.9% Stake 100.0% 100.0% 100.0% 100.0% IPM Updated
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46 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Portfolio at a Glance1 Notes: 1. As at 30 June 2026. 2. Based on valuation on a 100% basis as at 31 December 2025. 3. Ascendas Xinsu Portfolio consists of multiple plots of land with varying land use right expiry. Ascendas Xinsu Portfolio 腾飞新苏 Ascendas Innovation Towers 新加坡腾飞科汇城 Ascendas Innovation Hub 腾飞创新中心 Singapore-Hangzhou Science & Technology Park Phase I 新加坡杭州科技园一期 Singapore-Hangzhou Science & Technology Park Phase II 新加坡杭州科技园二期 Location Suzhou Xi’an Xi’an Hangzhou Hangzhou GFA (sq m) 373,334 118,495 40,547 101,811 130,261 NLA (sq m) 348,804 95,617 36,288 101,450 130,161 Land Use Right Expiry 31 Dec 2046 to 30 May 20573 19 Feb 2064 23 May 2051 4 Sep 2056 6 Jul 2060 Valuation (RMB mil)2 2,340 871 334 805 1,017 Committed Occupancy 95.4% 80.1% 90.7% 71.0% 70.6% Stake 51.0% 100.0% 80.0% 80.0% 80.0% IPM Updated
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47 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Portfolio at a Glance1 Notes: 1. As at 30 June 2026. 2. Based on valuation on a 100% basis as at 31 December 2025. Shanghai Fengxian Logistics Park 上海奉贤物流园 Wuhan Yangluo Logistics Park 武汉阳逻物流园 Chengdu Shuangliu Logistics Park 成都双流物流园 Kunshan Bacheng Logistics Park 昆山巴城物流园 Location Shanghai Wuhan Chengdu Kunshan GFA (sq m) 62,785 86,973 71,556 43,945 Land Use Right Expiry 20 Jul 2059 14 Jul 2064 25 Apr 2062 16 Jun 2064 Valuation (RMB mil)2 438 326 323 283 Committed Occupancy 100.0% 100.0% 96.2% 100.0% Stake 100.0% 100.0% 100.0% 100.0% IPM Updated
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48 CapitaLand China TrustDBS Asia Future Forward Conference 2026: Pulse of Asia Corporate Access Thank You For enquiries, please contact: Ms Debbie Tan, Associate Director, Investor Relations Direct: (65) 6713 2154 | Email: debbie.tan@capitaland.com CapitaLand China Trust Management Limited Tel: (65) 6713 2888 | Fax: (65) 6713 2999 clct.com.sg