#1CapitaLand CAPITALAND LIMITED FY 2020 Financial Results 24 February 2021 ASCOTT#2Disclaimer CapitaLand This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. 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. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty express 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 CapitaLand Limited ("CapitaLand") 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 of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation. The past performance of CapitaLand or any of the listed funds managed by CapitaLand Group ("CL Listed Funds") is not indicative of future performance. The listing of the shares in CapitaLand ("Shares") or the units in the CL Listed Funds ("Units") on the Singapore Exchange Securities Trading Limited ("SGX-ST") does not guarantee a liquid market for the Shares or Units. This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Shares or Units. 2#3Contents Section 1 FY 2020 Overview Section 2 FY 2020 Results Highlights Section 3 FY 2020 Operational Highlights Section 4 Appendix Capital Tower, Singapore#4Section 1 TII FY 2020 Overview SINGAPORE SCIENCE PARK ONE Singapore Science Park#5Section 1: FY 2020 Overview Fundamentally Strong And As Relevant CapitaLand Business model and strategy prevail amidst extraordinary circumstances of FY 2020 Performance Credible FY 2020 S$924 million cash PATMI¹ delivered; 9 Singapore cents dividend per share declared; · Made possible by: 1. A strong balance sheet 2. A globally diversified business model with multiple RE expertise spreads risks and enhances agility; 3. Advancing together with our stakeholders and adapting quickly to post- COVID changes. Cash PATMI Operating PATMI + portfolio gains + realised FV gains Notes: 1. 2. On 100% basis. For transactions announced in FY 2020 3. AUM upon completion expected to be around KRW290 Bn CapitaLand 3.0 Transformation Progresses via 3 Strategic Growth Pillars Development 1. Sustainability At the Core of Everything Launched 2030 Sustainability Master Plan A strategic and dynamic ESG blueprint to pursue sustainable financial performance in a responsible manner; and 1. • Continual pivot towards 'new economy' asset classes →S$3.4 billion² of new investments made in business park, logistics etc. assets, corresponding to 93% of total investments across the Group; 2. Provide thought leadership for this Grew by tapping on third-party capital and expertise ~S$860 million in total investments² committed via joint- ventures. 3. 2. Fund Management • . • 3. Scaled up and positioned our investment vehicles for greater growth CCT-CMT merger; CLCT's mandate expansion. Grow fund AUM³ Set up new KRW116 billion Korea Data Centre Fund I with 100% third-party capital Lodging Capitalised on long-stay segment expertise to meet a growing post-COVID demand Secured over 14,200 units across 71 properties in FY 2020 - a new annual record! • collective journey. Elevated 2030 targets include: 78% reduction in carbon emissions intensity and low-carbon science-based target validated by Science Based Targets initiative (SBTI) for a 'well-below 2°C' scenario Tripling sustainable finance portfolio to S$6 billion Project funding for innovations via CapitaLand's Sustainability X Challenge Creating a 'Return on Sustainability' metric 5 Сл#6Section 2 FY 2020 Results Highlights Plaza Plaza 8, Changi Business Park, Singapore#7Section 2: FY 2020 Results Highlights FY 2020 Key Figures +4.8% YOY $ Revenue S$6,532.6M CapitaLand -95.4% YOY -27.2% YOY NM $ GE Till EBIT S$231.5M Operating PATMI S$769.9M Dividends Per Share (DPS) S$0.09 PATMI S$(1,574.3M) Cash & Available Undrawn Facilities S$15.3Bn Operating Cashflow Net Debt/Equity Total Cost Savings¹ S$1,528M 0.68x -S$250.0M Note: 1. Comprised reduction in operating costs (vs. FY 2019 adjusted for ASB acquisition) and deferral of discretionary capital expenditure 7#8Section 2: FY 2020 Results Highlights Operational Resilience Maintained CapitaLand Diversification strategy mitigated overall downside risks resulting in a resilient FY 2020 EBIT¹ EBIT¹ of S$3.6Bn generated in FY 2020 (FY 2019: S$3.9Bn) By Geography S$'M 1,482 I▼ 20% 1,192 Singapore ▲17% 1,997 1,704 By Asset Class FY 2020 S$'M FY 2019 ▲60% 1,510 1,382 26% 1,026 947 FY 2020 FY 2019 563 709 ▼20% 563 643 ▲19% 388 58% 238 326 2% 155 152 786% 92 (103) 0.2 China 2 Other Developed Markets 3 Other Emerging Markets 4 Resi, Comm Strata & Urban Retail Office Lodging 5 Biz Park/Ind/Log Dev Corp & Others China exceeded FY 2019 performance, cushioning impact from other geographies; Singapore's recovery starting 2H 2020 progressed well China residential, Singapore retail and overall Lodging made the most significant progress from their respective 1H 2020 performance Notes: 123456 EBIT Operating EBIT + Portfolio gains + Realised FV gains Includes Hong Kong Excludes Singapore & Hong Kong Excludes China Includes Hotel. EBIT for FY 2019 includes gains from Ascott Raffles Place (ARP) divestment of S$135M. Excluding ARP gains, EBIT for FY 2020 is lower by 83% Includes Data Centres 8#9Section 2: FY 2020 Results Highlights CapitaLand Embedded Fee Income Further Diversifies Revenue Streams Anchored by stable and recurring REIT and private fund management fees that make up approximately 46% of Capita Land's total fee income¹ Others² 17% FY 2020 Serviced Residence Management 15% Total Fee Income¹: S$735 Million Notes: Property Management 22% Project Management 5% REIT Management 30% Private Fund Management 11% Serviced Residence Management 21% FY 2019 Others² 11% Total Fee Income¹: S$673 Million Property Management 22% 1. Includes fee-based revenue earned from consolidated REITs before elimination at Group level 2. Mainly include general management fees, leasing commission, HR services, MIS, accounting and marketing fees REIT Management 32% Private Fund Management 11% Project Management 3% a#10Section 2: FY 2020 Results Highlights Marked Recovery in Cash PATMI¹ Starting 2H 2020 Cap/taLand Attributed to an improvement in operating performance and re-starting of asset recycling activities as markets reopened S$'M Operating PATMI 700 Investment 600 Properties Trading 509 500 Properties 400 206 300 261 200 192 303 100 69 0 1H 2020 2H 2020 Note: Portfolio Gains/Realised Fair Value Gains 144 10 1H 2020 2H 2020 Cash PATMI¹ 653 271 1H 2020 2H 2020 FY 2020 Cash PATMI¹ – A credible S$924 million delivered (FY 2019: S$1,493 million) 1. Cash PATMI = Operating PATMI + portfolio gains + realised FV gains 10#11Section 2: FY 2020 Results Highlights Total PATMI Weighed Down By Non-Cash Segments CapitaLand Despite delivering a resilient Cash PATMI¹, revaluation losses and impairments relating to the impact from COVID-19 caused the Group to end in a net loss position in FY 2020. S$'M Cash components delivered S$924 million of PATMI Operating Non-cash components behind Impairments Total PATMI S$2.5 billion of losses Portfolio gains/ Revaluation PATMI Realised FV gains gain/loss 1,057 2,136 770 626 Investment (59%) 398 675 Properties (52%) 436 Trading Properties 431 372 154 (41%) (48%) FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 (32) FY 2020 FY 2019 Note: 1. Cash PATMI = Operating PATMI + portfolio gains + realised FV gains (1,637) (861) (1,574) 11#12CapitaLand Section 2: FY 2020 Results Highlights Revaluation Losses Limited To A Handful of Assets Most Impacted By COVID-19 The S$1.6 billion of downward fair value adjustments represents only ~4.7% of the Group's investment property value The five properties below account for ~54% of the Group's FY 2020 unrealised fair value losses Location Asset FY 2020 Valuation % Change vs FY 20192 FV Loss (million)² (million)¹ China Raffles City Chongqing (RCCQ) CapitaMall Westgate, Wuhan Tianjin International Trade Centre RMB 8,052 RMB 2,037 ION Orchard³ (50% stake) RMB 877 S$3,108 -17% $886 Singapore Jewel Changi Airport 4 (49% stake) S$1,330 Challenges brought about by COVID-19 were behind the most significant revaluations. Newer assets such as CapitaMall Westgate, RCCQ and Jewel Changi Airport which were opened in between. 2017-2019 and still ramping up operations, were most impacted. Valuation reflects both near-term impact of COVID-19 and cautious recovery expectations. 1. Notes: On 100% basis 2. On an effective basis 3. Excludes Orchard Link 4. Excludes hotel 12#13Section 2: FY 2020 Results Highlights Three Assets Behind -80% of the Group's 2H 2020 Impairments Remaining portfolio remains resilient CapitaLand Location Of S$861 million of impairments recorded, the top three are: Asset Lai Fung China Australia Mixed-use site in Xinpaifang CBD, Chongqing, China Goodwill of Quest Total Impairments for the Three Assets (S$'M) S$688 • . • Lai Fung 20% stake in Lai Fung acquired in 2006, has generated stable income over the years, although its share price remained below book value. The Group assessed that the originally synergistic partnership with Lai Fung may not be as relevant today due to Lai Fung's transition towards a more rental-led strategy and its expansion into MICE- related assets, especially in non-core Henqin, China. The Group is exploring options regarding this investment and has reclassified it as an asset held for sale based on the quoted share price at year end. Mixed-use site in Xinpaifang CBD • . The impairment assessment considers the gap between prevailing market prices of commercial strata and residential units in the area against the expected PDE. One of the major reasons why the PDE has increased is due to the interest incurred to the M&A loan taken, and for the new residential phase, due to design changes and other costs brought on by new planning requirements. • Goodwill of Quest The business model for Quest entails signing long term leases and sourcing for franchisees to take over the leases and operate under the Quest brand. The disruption of Quest's traditional sale of business income and recurring franchise fees due to COVID-19 have impacted cashflow and resulted in impairment. 13#14Section 2: FY 2020 Results Highlights Ability to Pay A Healthy Dividend Despite A Challenging Year Cap/taLand We remain in position to share returns with our Shareholders S$'M 9 Cents Dividend Per Share Declared for FY 2020 Corresponds to A Total Payout of ~S$467.4 Million Dividend Payout Ratio 1,2 (41%) 1 12 cents Cents (41%)1 14 12 cents (52%)1 12 9 cents 10 8 700 (40%) 1 12 cents 600 (44%) 1 10 cents 500 400 300 606.3 504.1 501.0 200 424.7 467.4 100 0 FY 2016 FY 2017 FY 2018 FY 2019 Dividend Payout -Dividend (cents/share) FY 2020 6420 Notes: Dividend Payout Ratio raised to 52%, from an average of 41% in the preceding four financial years 1. Total dividend payout as a % of cash PATMI 2. Baring unforeseen circumstances, the Group's policy is to declare a dividend of at least 30% of the annual cash PATMI, defined as sum of Operating PATMI, portfolio gains/losses and realised revaluation gains/losses 14#15Section 3 FY 2020 Operational Highlights 108 79 Robinson Road, Singapore#16Development • Section 3: FY 2020 Operational Highlights Residential Performance CapitaLand Despite a slow start due to COVID-19, residential performance recovered quickly across the Group's residential markets; China exceeds prior year's results in FY 2020 Sales Performance: China ➤5,100 units sold in FY 2020 (FY 2019: 5,268 units) . ➤ Achieved RMB 14.8 billion sales value2, +12% YoY (FY 2019: RMB 13.2 billion) Handover Performance: • 6,024 units handed over¹ in FY 2020, +12% YOY (FY 2019: 5,390 units) Achieved RMB 15.8 billion of handover value², +28% YoY (FY 2019: RMB 12.3 billion) Strong demand for new launches - 87% of those launched in 4Q 2020 sold -5,400 units sold 1.3 with a value of RMB10.5 billion³ expected to be handed over from 1Q 2021 onwards Singapore • . Total sales value and number of units sold in 2H 2020 were ~5 times more than 1H 2020, though full year performance still trails FY 2019 due to closure of sales offices for most parts of 1H 2020 Performance of launched projects: ➤ Sengkang Grand Residences (94% of launched units sold) ➤ • • One Pearl Bank (83% of launched units sold) Healthy sales momentum expected to continue in 2021 The residential component of Liang Court redevelopment project is expected to be launch-ready in 2H 2021 Vietnam • No new launches in FY 2020. Sales inventory is . limited, mainly consisting of unsold launched units Nonetheless, handovers FY 2020 tripled FY 2019 in both number of units and handover value Notes: 1. Above data is on a 100% basis, including strata units in integrated developments and considers only projects being managed Launch of La Botanica, Xi'an • ~714 units sold with a value of ~S$272 million 5 expected to be handed over from 1Q 2021 onwards -43% of value expected to be recognised in FY 2021 16 Launch of OneHub 2. Value includes carpark and commercial, Sales value further includes value added tax GKC, Guangzhou 3. Units sold include options issued as of 31 Dec 2020. Value refers to value of residential units sold including value added tax 4. On 100% basis 5. Value excludes value added tax and impact due to significant financing component for certain payment schemes under accounting principles IFRS 15#17Development China Section 3: FY 2020 Operational Highlights Retail Performance CapitaLand Improving operating metrics for core retail markets of Singapore and China expected to continue Shopper traffic Tenant sales¹ Committed Occupancy Rate (%)³ -22%¹ YoY2 -32% YoY2 97.8 89 88.2 • China Singapore Malaysia 1Q 2020 2Q 2020 3Q 2020 4Q 2020 -17.5%¹ YoY² -42.7% YoY2 -13.8%¹ YoY2 -40.1% YoY² M MI 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2020 Notes: 1. Change in tenants' sales per sqm (for China) and sq ft (for Singapore and Malaysia) . • • • FY 2020 shopper traffic and tenant sales in China and Singapore show that gaps towards pre-COVID levels continue to narrow Close to 200 new store openings in Singapore in FY 2020 and YTD 2021 Malaysia retail was subjected to а COVID-19 resurgence and the country's nationwide movement control order (MCO) in 4Q 2020 CapitaLand divested three shopping malls (La Park Mizue, Vivit Minami-Funabashi, and CO-OP Kobe Nishinomiya Higashi) in Japan in Nov 2020. Two shopping malls remain in the Japan portfolio Overall retail portfolio committed occupancy rate remained above 88% CapitaLand's digitally-enabled retail operations and strategic locations are the key differentiating factors for our malls. We will continue building our digital expertise to increase connectivity beyond physical assets. This will enhance our overall network effect and accessibility to customers and tenants, both online and offline 2. FY 2020 versus FY 2019 3. As of 31 Dec 2020 17#18Development • • Section 3: FY 2020 Operational Highlights Workspace Performance CapitaLand Offices, business parks, industrial and logistics portfolios continued to be resilient in 4Q 2020 Offices Overall committed office occupancy remained stable at >85% driven by proactive leasing Renewals and new take-ups for FY 2020 registered positive reversions portfolio-wide ~43% of Singapore portfolio office community have returned to their workplaces. China has gradually resumed back to normal working arrangements since 3Q 2020 Healthy weighted average lease expiries (WALE) across key office markets Committed Occupancy Rate (%)¹ 85 85 94 91.4 90.9 89.9 China Singapore³ Japan South Korea Germany Notes: 1. As of 31 Dec 2020 • . Business Parks, Industrial and Logistics Overall committed occupancy¹ remained robust Maintained positive rental reversions across the geographies YTD >50% of monthly gross revenue is derived from less impacted new economy industries, which are tech-driven and/or R&D-focused Tenants' workforce in some geographies have gradually resumed work Topping out of Capita Spring 38% committed occupancy as of 19 Jan 2021 Another 22% under advanced negotiation Topped out level 51 On track to commence operations in 2021 Committed Occupancy Rate (%)1 87.6 97.4 97.5 92.9 93 89 Singapore U.S.6 Australia China 4 UK India 5 2. As of 16 Oct 2020 3. For Singapore Grade A office buildings only, including 79 Robinson Road 4. Refers to the 32 logistics properties and 4 suburban office properties owned by Ascendas Reit 5. Refers to the 38 logistics properties owned by Ascendas Reit 6. Refers to the 28 business park properties and 2 office properties owned by Ascendas Reit 18#19Development Section 3: FY 2020 Operational Highlights Well-positioned Workspace Portfolio CapitaLand Sizeable and complementary office and business park¹ footprint across core geographies Poised to capture wide range of locational and space requirements Numbers in circles indicate NLA/GFA (mn sqft/sqm) Singapore 114 Properties 35.3M sqft NLA North 34,208 sqm GFA 100% 4.3 Office NLA/GFA Business Park, Logistics and Industrial NLA/GFA Coworking Space GFA (sqm) China's 5 Core City Clusters 38 Properties 3.3M sqm GFA 0.4 Tianjin 30,767 sqm GFA Beijing Dalian India's 6 Key Cities 12 Properties² 19.1M sqft completed area³ 43,828 sqm GFA Gurgaon 0.9 West East Central 0.4 Ningbo Mumbai 0.9 3.9 93% 10.6 14.4 6.0 Xian Chengdu Chongqing 0.02 Wuhan 2.1 (Panvel) Pune Hangzhou Suzhou 3.4 Shanghai 4.8 100% 100% Bangalore Hyderabad 7% 0.4 Guangzhou Shenzhen 5.2 Chennai Tenants with both office and business park¹ presence Equinix, JP Morgan, Standard Chartered Tenants with multiple workspace presence Amazon, ByteDance, Metlife, Transcosmos and Lion TCR Tenants with multiple workspace presence Tata Consultancy Services, Optum Global, Synechron Technologies, Applied Materials, IBM, Scientific Games Core workspace at CapitaLand is further enhanced with flex solutions. Our house brands include Bridge+, The Work Project and The Workshop. The Group has a total of 22 co-working centres and another 5 slated to open in 2021 that will provide in total, >11,000 flex seating capacity across our core workspace in China, Singapore, and India. CapitaLand's leading network is expected to result in growing synergies across office and business park¹ portfolios, and geographies. Notes: 1. 2. 3. Include Industrial and logistics Operating business and logistics parks India has additional 26.7mn sqft under various stages of construction and development potential across existing and newly acquired business and logistics parks. This excludes forward purchase agreements 19#20Lodging Section 3: FY 2020 Operational Highlights Lodging Performance Resilient business model ⚫Varied pace of recovery across markets 2H/FY 2020 Key Highlights ~96% of 495 properties operational as of 31 Dec 2020 000 Continued recovery in occupancy - from ~50% in 3Q 2020 to -55% in 4Q 2020 Sequential improvement in RevPAU - a 10% increase from S$55 in 3Q 2020 to S$60 in 4Q 2020 Asset light operating platform maintained positive cashflow for FY 2020 4th consecutive year of record growth - signed over 14,200 units across 71 properties in 2020 despite COVID-19 Opened 25 new properties, adding over 3,900 units in 2020; includes 10 properties in China with >1,800 units >S$91 million in revenue generated in 2020 from alternative businesses such as the 'Work in Residence' and 'Space-as-a- Service' initiatives • . • USA 0000 Represents ~2% of total units in Lodging portfolio¹ 100% of 5 properties operational Occupancy: +3pp QoQ RevPAU: +8% QOQ . . Represents ~5% of total units in Lodging portfolio¹ 000 ~74% of 45 properties operational Occupancy: +5 percentage points (pp) QOQ . RevPAU: -5% QOQ Represents ~5% of total units in Lodging portfolio¹ 100% of 15 properties operational Occupancy: +6pp QoQ RevPAU: +16% QOQ Long stays; pick-up in domestic leisure travel in UAE, Saudi Arabia and Turkey**** Represents ~3% of total units in Lodging portfolio¹ 100% of 13 properties operational Europe CapitaLand Represents ~6% of total units in Lodging portfolio¹ ~91% of 33 properties operational Occupancy: +15pp QoQ RevPAU: +40% QoQ Improvement in domestic leisure demand set back by second wave in Japan Greater China North Asia Represents ~27% of total units in Lodging portfolio¹ 100% of 70 properties operational Occupancy: +5pp QoQ RevPAU: +9% QOQ Localised outbreaks; recovery expected to continue once spread is contained Gulf Region & India Singapore . Represents ~52% of total units in Lodging portfolio¹ SE Asia & Australasia -99% of 284 properties operational • RevPAU: +1% QoQ Occupancy: +1pp QoQ . • Government contracts, RevPAU: Stable QoQ staycations and bookings by those • Long stays in Vietnam, Indonesia affected by border closure and Philippines; government contracts and event-related bookings in Australia Occupancy: +3pp QoQ • 1. Consists of operational and under development units as of 13 Jan 2021 Note: Occupancy and RevPAU statistics are on same store basis and include serviced residences leased and managed by the Group. Foreign currencies are converted to SGD at average rates for the relevant period 20#21Lodging Section 3: FY 2020 Operational Highlights Strong Trajectory For Lodging Income Growth CapitaLand CapitaLand achieves fourth consecutive year of record management and franchise. contracts growth despite COVID-19 ASCOTT Building future recurring fee income stream with over 14,200 Ascott North Bund Shanghai Citadines Sanwan Yangzhou Quest Woolooware Bay Citadines Yunlong Lake Xuzhou Note: 1. Actual number of openings may vary depending on the COVID-19 situation and market conditions • • units across 71 properties signed in 2020 ⚫ Robust growth in China • • . • 80% year-on-year growth with over 9,400 units secured in 2020 More than 4,900 units added since Oct 2020, including first property in Yangzhou and 2 rental housing properties in Shanghai and Hangzhou Boosting annual fee income by more than $27 million as the properties progressively open and stabilise Opened 25 properties with over 3,900 units in 2020 • Includes 10 properties in China with more than 1,800 units Over 80 properties with ~17,000 units planned for opening in 20211 • Mainly in Asia Pacific, which is expected to lead the global economic recovery • Includes 3 lyf coliving properties and first rental housing property in China 21#22Fund Management Section 3: FY 2020 Operational Highlights Fund Management Performance Consecutive QoQ improvement in fee income in 2H 2020 CapitaLand 4Q 2020 fee income¹ is 25% higher compared to 3Q 2020, but 15% lower YoY mainly due to reduced one- time transaction fees Close to $$1 billion of third-party capital remains available for deployment Fee Income¹ by Quarter (S$'M) Fund AUM by Geography and Equity Sources (S$'Bn) On track to meeting 2024 S$100bn fund AUM target S$'Bn 306.2 293.2 PE Funds REITS & BTS Fund AUM as at 31 Dec 2020: S$77.6 Billion 88.7 225.8 104.7 5.3% YoY 57.9 Q4 32.9 100.0 71.1 1.0 27.1 77.6 64.5 86.8 Q3 17.6 69.9 Q2 56.8 52.1 22.2 31.9 2.6 Q1 76.5 15.0 46.6 49.6 4.9 FY 2018 FY 2019 2 FY 2020 China Singapore Others 3 FY 2020 FY 2024 Target Notes: 1. 2. Includes fee-based revenue earned from consolidated REITs before elimination at Group level Includes contribution from ASB for the period from 1 Jul to 31 Dec 2019 3. Others include Malaysia, Vietnam, other Asia, Europe and USA 22#23Fund Management Note: Section 3: FY 2020 Operational Highlights Positioning Listed Vehicles For Greater Scale CapitaLand Hands-on approach to ensuring that CapitaLand's investment vehicles are efficiently structured for growth · • Completed merger of CapitaLand Commercial Trust and CapitaLand Mall Trust in Nov 2020 CapitaLand Integrated Commercial Trust Singapore's largest REIT and among the largest REITs in Asia Pacific CICT will be CapitaLand's primary investment vehicle for commercial real estate in Singapore and other developed markets as it becomes the largest proxy REIT in this sector The merged entity has greater capacity for larger acquisitions and value-add play - which can include undervalued opportunities in Singapore as well as accretive investments in other developed markets • Expansion of Investment Strategy of CapitaLand Retail China Trust in Sep 2020 CapitaLand China Trust Renamed CapitaLand China Trust, the REIT is now CapitaLand Group's dedicated non-lodging China listed. investment vehicle CLCT will have a more diversified revenue stream to build a resilient sector-diversified portfolio that is less susceptible to adverse changes With the expansion in mandate in Sep 2020, CLCT announced ~S$1 billion acquisition of five business parks and balance 49% interest in Rock Square Stands to benefit from CapitaLand's plan to grow new economy assets in China to S$5 billion 1. The acquisition of 51% interest in Ascendas Xinsu Portfolio, 100% interest in Ascendas Innovation Towers and 49% interest in Rock Square were completed on 4 Jan 2021, 10 Feb 2021 and 30 Dec 2020, respectively. 23#24Section 3: FY 2020 Operational Highlights Met Annual Asset Recycling Target and Achieved CapitaLand Healthy Premiums $3.04 Billion of gross divestments generated ~S$154 million² of portfolio gains in FY 2020 ~9%² of divestment premium achieved on average across the Group Maintained asset recycling momentum in 2021 with ~S$488 million of divestments announced YTD The Group will remain focused on meeting our annual recycling target of S$3 billion in FY 2021 Transactions from 4Q 2020 RETAIL Three matured malls in Japan (Nov 2020) . • • Divested at JPY 21.99bn (~S$283.6m) Offloaded these non-core retail assets above assets' Dec 2019 valuation Completed in Nov 2020 CapitaMall Minzhongleyuan, China (Jan 2021) • . Divested along with three sets of premises in Wuhan at RMB458.0m (~S$93.4m) via CLCT 3.9% above valuation as of 1 Nov 2020 and the book value of the three sets of premises Completed in Feb 2021 On 100% basis. Includes divestment of residential project in Shenyang, China BUSINESS PARK (recycled into CLCT) Five business park properties & Rock Square to CLCT (Nov 2020) • . Divested at RMB8,130m (~S$1,653.1m) • 2.9% premium to valuation in Dec 2019 Target to complete by 1Q 2021 OFFICE ICON Cheonggye, South Korea (Jan 2021) Divested at an agreed property value of KRW 136.3bn³ (~S$166.4 m), implying 27% above projected development expenditure Notes: 1. 2. For only investment properties 3. Property value based on an as-is development-in-progress basis 4. Based on effective stake of 98.8% 5. Licensed asset manager, Ascendas Asset Management Company, is a subsidiary of CapitaLand • • Net gains of S$33m4 CapitaLand5 remains as the fund and asset manager Completed in Jan 2021 LODGING Somerset Azabu East Tokyo (Dec 2020) • • Divested at JPY5.9bn (~S$76m) via ART 63% above book value with net gains of S$30.6m Completed in Dec 2020 Citadines City Centre Grenoble, France (Jan 2021) . • • Divested at EUR8.1m (~S$13m) via ART 35% above book value with net gains of -S$44k Target to complete in 1Q 2021 . Somerset Xuhui Shanghai, China (Feb 2021) Divested at RMB1,050m (~S$215.6m) via ART 171% above book value with net gains of RMB536.6m (~S$110.2m) • Target to complete in 2Q 2021 24#25Investments Notes: 12345 2. 3. 4. 5. Section 3: FY 2020 Operational Highlights Continued Pivoting Towards "New Economy" Asset Class CapitaLand About 93% of our groupwide investments in FY 2020 were in "new economy" assets Development of a logistics property in Japan First foray into Japan's logistics sector, a prime beneficiary of e-commerce growth, in Nov 2020 Joint venture (JV) with Mitsui & Co. Real Estate Ltd, with CapitaLand as the majority partner, to develop and operate a logistics project in Greater Tokyo To grow and scale up in Japan's logistics sector by tapping on local partner's local network and expertise Project expected to complete in 4Q 2022 Reinvestment in Ascendas Xinsu Portfolio Formed a 49:51 JV with CLCT on the Xinsu Portfolio (one of the 5 business parks divested to CLCT) at an agreed property value of RMB2,265 million (S$460.6 million)2, in view of redevelopment potential of the site my assets in Ching Target to grow AUM in new economy assets in China from $$1.5 billion to S$5 billion over the next few years Made CLCT CapitaLand's dedicated investment vehicle in China Setup of Korea Data Centre Fund 1 (KDCF 1) First private fund set up with 100% third party capital in Oct 2020, to invest in an off- market data centre development project near Seoul in South Korea First speculative ground-up data centre development project³ in Korea market under the real estate fund structure AUM upon completion expected to be around KRW290 Bn (~S$350M4) Located close to Seoul's key business districts and adjacent to SangAm DMC (Digital Media City) where Equinix and Digital Realty data centres are located CapitaLand 5 originated and structured the investment for the fund investors and will lead planning, development and earn fee income as fund and asset manager On 100% basis. For transactions announced in FY 2020 On a 100% basis Speculative development refers to the development of a project without any formal commitment from its end user Based on exchange rate of S$1 = KRW 0.001212 as of Dec 2020 Licensed asset manager, AAMC (Ascendas Asset Management Company), is a subsidiary of CapitaLand 25 25#26Investments Section 3: FY 2020 Operational Highlights Continued Pivoting Towards "New Economy" Asset Class (Cont'd) CapitaLand About 93% of our groupwide investments in FY 2020 were in "new economy" assets New economy investments through listed vehicles from 4Q 2020 onwards 3 THD 5 THD 1 THD 510 Townsend Street 505 Brannan Street Two Class A tech office properties in San Francisco for US$560.2 M (S$768.0 M) via Ascendas Reit in Nov 2020 Net property income yield -4.9% pre-transaction costs Artist Impression of 500 Green Road, Brisbane Announced in Dec 2020, the development of a freehold high-quality logistics property in Crestmead, an established distribution hub in Brisbane for A$70.3 M (S$69.1 M), by Ascendas Reit Net property income yield ~5.6% pre-transaction cost Aerial view of 1-5 Thomas Holt Drive, Macquarie Park 2nd freehold suburban office in Macquarie Park, in Sydney, Australia, acquired by Ascendas Reit for A$288.9 M (S$284.0 M) Net property income yield ~5.9% pre-transaction cost Transaction completed in Jan 2021 aVance 6, HITEC City, Hyderabad. ➤ Ascendas India Trust entered into definitive agreements to acquire aVance 6, an IT SEZ building at HITEC City in Hyderabad, for a gross consideration of ~INR5.06Bn (S$92.03M)² Building is fully leased, with ~98.3% of space leased to Amazon Notes: 1. 2. On 100% basis. For transactions announced in FY 2020 Based on an exchange rate of S$1: INR 55.0, for illustrative purposes 26#27Investments Section 3: FY 2020 Operational Highlights And Positioning Ourselves in New Segments of Long-stay Lodging CapitaLand Targeting different segments of customer base requiring long-term rental accommodation, which is relatively unaffected by travel restrictions • Multifamily Formed programmatic JV with an Austin-headquartered firm in Dec 2020, to acquire and develop multifamily assets totalling up to US$300 million (~S$416.1 million) in gross asset value; Expanding our USA presence in the Multifamily sector which has remained deep, scalable and liquid, with attractive risk-adjusted returns First co-investment project, a 341-unit property on 4.71 acres of freehold land, is expected to complete in 2023 Student Accommodation • • ART's first student accommodation acquisition in the USA - Signature West Midtown acquired at US$97.5 M (~S$129.7 M1) in Jan 2021 Freehold property in Atlanta, Georgia, USA, with walking distance to Georgia Institute of Technology, which has strong enrolment growth Largely domestic student base with 95% high occupancy and 1-year average length of stay provide stable source of income Transaction expected to be completed by end 1Q 2021 Multifamily development project in Austin, Texas Note: 1. Based on the exchange rate of US$1 to S$1.3298 Signature West Midtown, Georgia, USA 27#28Section 3: FY 2020 Operational Highlights Proactive Capital Management Ensuring a strong balance sheet to set CapitaLand up for sustainable growth S$8.1 bn Total raised FY 2020 S$2.3 bn² Total sustainable financing raised FY 2020 S$15.3 bn³ Cash and available undrawn facilities of CapitaLand's treasury vehicles 3.5 years³ Debt maturity profile S$250 M FY 2020 total cost savings4 0.70x 0.70x S$0.8 bn debt { headroom 0.68x 0.57x CL Group On B/S On B/S (excl. REITs) S$3.1 bn debt headroom Net D/E Debt Headroom Nov 2020 Jan 2021 Green Loans Achieved INR17 bn (~S$323M¹) of green loan, ranging from 3 to 4.5 years of loan term, were secured through DBS Bank India and HSBC Limited India to finance Phase 1 of International Tech Park Chennai, Radial Road, Phase 1 of International Tech Park Gurgaon and International Tech Park Pune, Kharadi CapitaLand International Tech Park Chennai International Tech Park Gurgaon International Tech Park Pune, Kharadi lyf one-north Singapore Ascott Residence Trust (ART) obtained a 5-year S$50M green loan from DBS to finance its maiden development project: lyf one-north Singapore. ART is the first hospitality trust in Singapore to secure a green loan Notes: 1. Based on an exchange rate of INR1 to S$0.019 2. Total sustainable financing raised including Off B/S is S$2.9bn 3. As of 31 Dec 2020 4. Comprised reduction in operating costs (vs. FY 2019 adjusted for ASB acquisition) and deferral of discretionary capital expenditure 28#29Section 3: FY 2020 Operational Highlights Embedding Digital Into Our Ecosystem CapitaLand To drive new growth by tapping on data analytics and increasing online customer engagements >14 Million CapitaStar >2,700 Tenants onboard >S$46 Million GMV CapitaStar and other digital channel' CapitaStar Members Exceeded RMB200 million GMV in China in 2020 Online SKUs China Singapore Cross city orders 90K 40% Platforms Incremental sales 8% . Growth in transactions Growth in GMV volume eCapitaMall 15X3 13X3 Capita 3Eats 2.5X3 3X3 • -THE ASCOTT LIMITED A Member of CapitaLand • . Shopee ⚫ Ascott is the first international hospitality company to have a regional collaboration with Shopee Drove online sales and engagement with Ascott Star Rewards (ASR) members with largest regional promotion on Shopee from 12 th to end Dec 2020 Driving sales beyond direct channels and conventional online booking sites, uncovering additional revenue streams ASR members have increased 45% over 2019 Unveiled the IMM virtual mall on Shopee – the ecommerce platform's first virtual mall on 5 Feb 2021 Part of the Emerging Stronger Taskforce's Alliance for Action on Facilitating Smart Commerce Capita Voucher 5X Growth YoY in Sales² 5X Growth YoY in Usage² Notes: 1. As of 31 Dec 2020 2. FY 2020 vs FY 2019 3. Since launch in Jun 2020 29#30Section 3: FY 2020 Operational Highlights Embedding Digital Into Our Ecosystem (Cont'd) Transforming the experience of working in CapitaLand's buildings CapitaLand A tenant experience app and platform to transform the experience of CapitaLand Workspace community What can hep you with today? Брасиду боть Ceptal Des Back To Office Treats Capital Tower LONE Notable Features NEW Reskinnable Solution¹ Access Control Visitor Invitation Link with CapitaStar Pulse Survey Contact Tracing Deals Events I | Space Booking Plans in 2021 FIND A SPACE ↑ 5x User Base Bekas Cartel Tower Launched on 1 July 2020 ~3,200 users (as of December 2020). 5x increase of user based since pilot in 2019 > 6,000 visitors Invited visitors at Capital Tower can enter the turnstiles directly without the need to register Note: > 3.7 M sqft onboarded Launched at 6 office buildings and all Bridge+ co- working spaces in Singapore S$3.1 M cost avoidance Consolidated multiple mobile apps into a single front end supported by backend systems and services for cost efficiency Bridge+ Mobile App is implemented based on a reskinnable solution 1. 2. Pending approval from Singapore Civil Defence Force 1 25,000 Users 2 Harness the power of data 3 Exciting new features 4 Launch Lite version Roll out to another 8 buildings, increasing the floor area to 6.9 M sqft Curate more targeted content and activities for the community First in Singapore to implement virtual fire drill and self-enrolment for facial recognition A variant of the app for light-use properties 5 Monetize platform Ability to embed bespoke features for tenants' workspaces. 30#31Note: Section 3: FY 2020 Operational Highlights A Sustainable Future With You CapitaLand Continual pursuit of sustainability excellence; advancing with our key stakeholders Consistent inclusion of Member of Dow Jones Sustainability Indices Support for Support for Communities Affected by Customers COVID-19 in 2020 CapitaLand in Powered by the S&P Global CSA major indices is a sustainability testament to our steadfast commitment to ESG excellence GRES B REAL ESTATE Sector Leader 2020 GLOBAL100 Sustainability Yearbook Member 2021 S&P Global 2020 MSCI ESG Leaders Indexes Constituent CapitaLand Sustainability X Challenge was launched in Nov 2020 to crowdsource the world for the best sustainability innovations and pilot new technologies and solutions at our properties Garnered support from >50 partners Secured >270 entries from innovators from >25 countries. Grand Finale in Jun 2021 >S$340 million of rental rebates¹ has been disbursed to tenants in FY 2020 Pledged > S$6m globally (>S$2m in Singapore) Supported > 163,000 people Mobilised >1,000 staff and community volunteers Provided >47,000 meals, food bundles and care packs Formed 33 partnerships Enabled 14 trials of Smart Urban Co-Innovation Lab Facilitated visits by >130 companies Smart City solutions in intelligent estate management Additional 15 problem statements released to the industry to co- innovate with us and our partners since opening in Oct 2020 1. On 100% basis. YTD rental support to our retail tenants, excluding government subsidies 31#32Looking Ahead CapitaLand • • The encouraging business and financial trajectory in the second half of 2020 has thus far continued into 2021. Barring any major resurgence of the pandemic, the Group expects to deliver an improved operating and financial performance in FY 2021. CapitaLand will continue to actively identify attractive opportunities that can position the Group for growth through our three strategic pillars of Development, Lodging and Fund Management. We will prioritise capital allocation to 'new economy' real estate asset classes in view of the growth of e-commerce and the knowledge economy. The Group's recovery and growth plans are well-supported with a strong balance sheet and healthy net debt-to-equity ratio of 0.68 times. We will remain disciplined in our asset recycling programme and are confident about meeting our S$3 billion annual recycling target in FY 2021. The Group is actively future proofing our business by adjusting our product suite to new norms and expectations. This includes providing omnichannel solutions for our retail tenants and shoppers, and flexible options for our workspace and lodging portfolios. We will remain committed to the goals set out in CapitaLand's 2030 Sustainability Master Plan to embed sustainability into every stage of our real estate life cycle. This will be our strategic blueprint to pursue profitable business growth in a responsible manner. 32#33Appendix (A) Financials CapitaGreen, Singapore#34Appendix (A): Financials A Diversified Global Portfolio Enabling Agility Across Cycles CapitaLand Allocating capital where we see opportunities while maintaining an DM:EM balance FY 2020 Capital Employed¹ Capital Allocation Priority Singapore 30% Developed Markets Emerging Markets (50%) (50%) Other Developed Markets 20% Note: China 35% Singapore 32% (vs FY 2019: 31%) India 10% Vietnam 5% 1. Capital employed = SBU Equity + Borrowing from CL's Treasury Vehicle Developed Emerging Markets Markets (44%) (56%) Other Developed Markets 12% (vs FY 2019: 12%) Other Emerging Markets 9% (vs FY 2019: 8%) China 47% (vs FY 2019: 49%) 34#35Appendix (A): Financials CapitaLand Overall Diversified Portfolio Remained Resilient Diversified businesses kept concentration risks low ⚫Offers opportunities for growth AUM¹: S$132.5 Billion Other Emerging Markets5 Total EBIT: S$231.5 Million Total Assets: S$84.4 Billion Other Developed Markets² Other Emerging Markets5 Other Developed Markets² Other Developed Singapore Markets² 389.5 China Other Emerging Markets5 11% 15% 6% 13% By Geography By Asset Class China4 37% 41% 33% China4 44% Singapore Singapore³ Business Park, Industrial & Logistics 27% Lodging6 Residential, Corporate Commercial Strata & Residential, & Others Urban Development Business Park, Commercial Strata Industrial & Logistics & Urban Development 6% 16% 8% 8% 15% Retail 27% Lodging6 15% 22% Office (329.7) 1,252.0 139.4 32.3 427.0 96.0 (0.1) 32% (532.8) Retail 24% Office Residential, Commercial Strata (1,010.6) & Urban Business Park, Corporate Industrial & & Others Retail Development Office Lodging Logistics Notes: All figures are as of 31 Dec 2020 unless otherwise stated 1. Refers to the total value of real estate managed by CapitaLand Group entities stated at 100% of property carrying value 4. Includes Hong Kong 5. Excludes China 2. Excludes Singapore and Hong Kong 6. Includes multifamily and hotels 7. Includes data centres 3. Includes corporate & others 35#36Appendix (A): Financials Strong Balance Sheet & Liquidity Position Leverage Ratios Net Debt/Equity 0.68x Net Debt / Total Assets¹ 0.35x 0.63x in FY 2019 0.33x in FY 2019 Coverage Ratio $ Interest Coverage Ratio² 0.7x 7.6x in FY 2019 % of Fixed Rate Debt 63% Ave Debt Maturity³ 3.5 Years NTA Per Share NAV Per Share S$4.09 S$4.30 68% in FY 2019 3.7 years in FY 2019 S$4.44 in FY 2019 S$4.64 in FY 2019 Notes: 1. Total assets exclude cash CapitaLand 2. Interest Coverage Ratio = EBITDA/ Net Interest Expenses; EBITDA includes revaluation gain/(loss) and impairments. ICR excluding unrealised revaluation loss and impairment is 4.8x (FY 2019: 6.1x) Based on put dates of convertible bond holders 3. 36#37Appendix (A): Financials Financial Performance For FY 2020 S$' M CapitaLand FY 2019 FY 2020 Change Revenue 6,234.8 6,532.6 4.8% EBIT 5,067.6 231.5 (95.4)% PATMI 2,135.9 (1,574.3) NM Operating PATMI 1,057.2 769.9 (27.2)% Portfolio Gains 435.6 153.9 (64.7)% Revaluation Gains/(Loss) and 643.1 (2,498.1) NM Impairments 37#38Appendix (A): Financials EBIT BY SBU – FY 2020 - S$' M CapitaLand Operating EBIT Portfolio gains/realised Revaluation Total FV gains (losses)/ impairments EBIT 78.3 (879.3) 550.9 1,806.4 105.7 (1,784.4) 127.7 10.0 9.3 19.3 CL Singapore & International 1,351.9 2 CL China CL India CL Lodging CL Financial Corporate and others Total Notes: 1. Includes Malaysia, Indonesia and Vietnam 2. Includes Hong Kong 3. Includes intercompany elimination (16.2) 57.4 (678.8) (637.6) 191.4 (18.0) 173.4 (16.8) 10.5 4.1 (2.2) 3,326.7 251.9 (3,347.1) 231.5 38#39Appendix (A): Financials EBIT By Asset Class - FY 2020 S$' M Residential, Commercial Strata & Urban 1,457.8 Development Retail CapitaLand Operating EBIT Portfolio gains / realised FV Revaluation (losses)/ impairments Total EBIT gains 51.5 (257.3) 1,252.0 985.7 40.7 (2,037.0) (1,010.6) 540.8 22.0 (466.8) 96.0 21.2 70.7 (624.7) (532.8) Office 1 Lodging 2 Business Park, Industrial & Logistics 319.9 68.1 39.0 427.0 3 Corporate and others Total 3,326.7 1.3 (1.1) (0.3) (0.1) 251.9 (3,347.1) 231.5 Includes hotel. The results for Lodging asset class is different from CL Lodging SBU as it includes the results of lodging component in integrated developments as well as U.S. multifamily portfolio presented under other SBUS Notes: 1. 2. Includes data centre 3. Includes intercompany elimination and expenses at SBU Corporate 39#40Appendix (A): Financials Prudent Management Of Look-Through Debt (As of 31 Dec 2020) Net Debt (1) /Equity On Balance Sheet Off Balance Sheet 0.68 0.57 CapitaLand 0.61 (4) 0.45 0.57 0.56 CL Group On B/S On B/S (excl. REITs) (2) REITS (3) JVs/Associates (5) (6) Funds Off B/S REITS (7) Net Debt (1)/Total Assets (8) 0.35 0.29 0.36 (4) 0.30 0.34 0.24 CL Group On B/S On B/S (excl. REITs) (2) (3) (5) REITS JVs/Associates Funds (7) Off B/S REITS Well-managed balance sheet Notes: 1. 2. Debt includes Lease Liabilities and Finance Lease under SFRS (1) 16. (On B/S : S$1,055M, Off B/S : S$613M) Proforma without SFRS (1) 10 (excludes REITs Net Debt, includes CL's share of REITs Equity) 3. 4. The Group consolidated Ascott Residence Trust (ART), CapitaLand Integrated Commercial Trust (CICT), CapitaLand Malaysia Mall Trust (CMMT) and CapitaLand China Trust (CLCT) under SFRS (1) 10. 62% of the debt in JVs/Associates is from ION Orchard, Jewel Changi Airport, Raffles City Changning (Shanghai, China) and Hongkou Plaza (Shanghai, China) 5. JVs/Associates exclude investments in Lai Fung Holdings Limited 6. JVs/Associates' equity includes shareholders' loans 7. Off B/S REITs refer to i) Ascendas Reit and ii) Ascendas India Trust 8. Total assets exclude cash 40#41Appendix (A): Financials Well-Managed Maturity Profile1 of 3.5 Years Plans in place for refinancing / repayment of debt2 due in 2021 S$'B 16.0 14.0 12.0 10.0 8.0 6.9 6.3 6.3 6.0 4.9 4.0 3.4 2.0 1.5 0.0 2021 2022 2023 CapitaLand Total Group cash balances and available undrawn facilities of CapitaLand's treasury vehicles: ~S$15.3 billion 3.4 1.6 1.4 0.3 3.2 On balance sheet debt ² due in 2021 To be refinanced To be repaid Total As a % of total on balance sheet debt 2024 2025 2026 2027 2028 2029+ S$' billion 3.8 1.1 Total Non-REIT level debt REIT level debt 3 4.9 14% Well-equipped with ~S$15.3 billion in cash and available undrawn facilities Notes: 1. Based on the put dates of the convertible bonds 2. Debt excludes $$1,055 million of Lease Liabilities and Finance Lease under SFRS (1) 16 41 3. Ascott Residence Trust (ART), CapitaLand Integrated Commercial Trust (CICT), CapitaLand Malaysia Mall Trust (CMMT) and CapitaLand China Trust (CLCT)#42Appendix (A): Financials Disciplined Interest Cost Management % 5.0 4.0 3.7 3.5 3.4 3.3 3.2 3.2 3.2 3.0 3.0 2.0 CapitaLand Implied Interest Rate¹ 1.0 FY 2013² (Restated) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Implied interest rates ¹ kept low at 3.0% 1 Notes: 1. Implied interest rate for all currencies = Finance costs before capitalisation/Average debt 2. Implied interest rate for all currencies before restatement was 4.2% 42#43Appendix (A): Financials YTD Divestments / Transfers 1,2 As of 22 Feb 2021 FY 2020 divestments FY 2021 divestments CapitaLand ● Total gross divestment value³ is S$3,529.3 million ● Total effective divestment value is S$2,010.5 million Transacted assets Sellers Value S$ million Transacted assets Sellers Value S$ million Value Transacted assets Sellers S$ million Citadines Didot Wisma Gulab, Singapore Ascendas Reit 88.0 Montparnasse Paris, France ART 36.4 70% stake in Mulberry Lane, Vietnam CL 10.0 No. 202 Kallang Bahru, Singapore Ascendas Reit 17.0 40% stake in a mixed-use site in Huangpu District, Guangzhou, China CL 78.6 Somerset Azabu East Tokyo, Japan ART 76.2 25 Changi South Street 1, Ascendas ICON Yeoksam, Seoul, CapitaMall 20.3 CL 165.1 CLCT 93.4 Singapore Reit South Korea Minzhongleyuan, China Retail spaces at Vista CapitaMall Erqi, CLCT 150.8 Zhengzhou, China Verde and Mulberry CL 16.9 ICON Cheonggye, South Korea CL 166.45 Lane, Vietnam 4 60.01% stake in a Undeveloped land CL 1.5 residential project in CL 202.0 parcel in Kazakhstan Citadines City Centre Grenoble, France ART 13.0 Shenyang, China Five business park Seasons Avenue retail CL 1.3 podium, Vietnam properties and Rock CL 1,653.1 Somerset Xuhui Shanghai, China ART 215.6 Square mall, China Three malls, La Park Notes: Mizue, Vivit Minami- 15% Equity interest in a JV CL 56.4 Funabashi and CO-OP CL 283.6 1. Announced transactions from 1 Jan 2020 to 22 Feb 2021. Divestment of Citadines Xinghai Suzhou and Citadines Zhuankou Wuhan, China which was announced in Jan 2020 was terminated in Chengdu, China 2. Kobe Nishinomiya Higashi The table includes assets divested/transferred by CapitaLand and CapitaLand REITS/Business Trusts/Funds in Japan 3. Divestment/transfer values based on agreed property value (100% basis) or sales consideration Ascott Guangzhou, 60% stake in OneHub 4. ART 155.0 CL 28.7 Additional S$0.5 million divestment of a retail space at Mulberry Lane in Nov 2020 China Saigon, Vietnam 5. Property value based on an as-is development-in-progress basis 43#44Appendix (A): Financials YTD Investments 1,2 As of 22 Feb 2021 FY 2020 investments FY 2021 investments CapitaLand • Total gross investment value³ is S$3,872.9 million 4 Total effective investment value is S$994.5 million. Value Transacted assets Buyers Transacted assets Buyers S$ million Value S$ million Value Transacted assets Buyers S$ million Suburban office in Arlington Business Park, Reading, United CL 226.9 Kingdom Macquarie Park, Sydney, Australia (Development) Ascendas Reit Suburban office at 1 - 5 Thomas Holt Drive, 161.0 Macquarie Park, Ascendas Reit 284.0 Sydney, Australia8 Logistics property (500 International Tech Park Chennai, Radial Road CL 48.3 ABI Plaza, Office property in Singapore CL Pte Fund Green Road) in 200.0 Brisbane, Australia Ascendas Reit 69.1 Phase 2 (land), India (Development) Five business park properties and Rock Square mall, China Quest Macquarie Park Sydney, Australia CLCT Signature West Midtown ART 43.6 (includes CapitaLand's 1,653.17 ART 129.7 in Atlanta, Georgia, USA 49% stake acquisition in Ascendas Xinsu Portfolio) Two tech office A warehouse in Khurja, NCR, India 5 a-iTrust 18.6 properties in San Francisco, California, USA Ascendas Reit 768.0 aVance 6, HITEC City, Hyderabad, India a-iTrust 92.0 Notes: 25% stake in Galaxis, Singapore Ascendas Reit 157.5 Logistics property in Greater Tokyo, Japan (Development) 1. CL Undisclosed 2. 3. Announced transactions from 1 Jan 2020 to 22 Feb 2021 The table includes assets acquired by CapitaLand and CapitaLand REITs/Business Trusts/Funds Investment values based on agreed property value (100% basis) or purchase/investment consideration Logistics property (Lot 7, 4. Kiora Crescent) in Multifamily property in Excludes "Logistics property in Greater Tokyo, Japan" and "Multifamily property in Austin, Texas" due to confidentiality clauses Ascendas 5. 21.1 Austin, Texas, USA CL Undisclosed Sydney, Australia Reit Signed Share Purchase Agreement for acquisition of the warehouse. Completion of acquisition is subject to fulfilment of certain Conditions Precedent. (Development) 6. 25% of agreed property value of S$630 million (Development) 7. Adjusted from disclosure on 10 Nov 2020 to exclude separate mention of CapitaLand's 49% stake in Ascendas Xinsu Portfolio 44 8. Acquisition completed on 13 Jan 2021#45Appendix (B) Operational Statistics by SBUS Ascendas Xinsu Square, Suzhou, China#46Development Ascent, Singapore Science Park#47CapifaLand Singapore and International One Pearl Bank, Singapore#48Appendix (B): Operational Statistics by SBUS Singapore And International Asset Portfolio S$38.8 billion corresponding to 46% of Group's total assets CapitaLand By Asset Class By Geography International 9% Vietnam 3% Business Park, Industrial & Logistics5 12% Total Assets 1.2: S$38.8 Billion Singapore, Malaysia & Indonesia 88% Others4 4% Residential, Commercial Strata & Urban Development 6% Total Assets 1.2: S$38.8 Billion Retail 40% 78.1 International 26% Vietnam 23% Total EBIT 1,3 S$550.9 Million 289.6 Total EBIT 1,3. S$550.9 Million 276.0 Singapore, Malaysia & Indonesia 51% 42.3 Office 38% Includes Singapore, Malaysia, Indonesia, Vietnam and International Notes: 1. 2. Total assets as of 31 Dec 2020 3. Total EBIT YTD Dec 2020 4. 5. Residential, Commercial Strata & Urban Development (135.1) Retail Office Business Park, Industrial & Logistics 5 Others 4 Include serviced residence component in integrated development projects such as CapitaSpring in Singapore, The Stature in Jakarta, Indonesia, The Vista in Vietnam and multifamily assets in International as well as Corporate & others Include data centre 48#49Appendix (B): Operational Statistics by SBUS Singapore, Malaysia & Indonesia Asset Portfolio S$34.2 billion corresponding to 41% of Group's total assets. Business Park, Industrial & Others4 1% Residential, Commercial Logistics5 13% Office 39% Total Assets 1,2: S$34.2 Billion Strata & Urban Development 5% Retail 42% (5.7) Total EBIT 1,3. S$284.1 Million 266.6 185.2 CapitaLand (23.1) (138.9) Residential, Commercial Retail Office Business Park, Industrial & Others 4 Strata & Urban Development Logistics Notes: 1. Includes Singapore, Malaysia and Indonesia 2. Total assets as of 31 Dec 2020 3. Total EBIT YTD Dec 2020 4. 5. Include serviced residence component in integrated development projects such as CapitaSpring in Singapore and The Stature in Jakarta, Indonesia Include data centre 49#50Note: Appendix (B): Operational Statistics by SBUS Singapore Residential Sales Sold 220 units worth S$334 million in FY 2020 More than 90% of launched units sold as of 31 December 2020 Residential Units FY 2020: ~0.4x YoY FY 2020: 0.5x YoY 2H 2020 1H 2020 700 661 550 501 500 450 400 350 300 250 493 220 Sales Value (S$ million) 600 500 200 200 150 185 100 100 50 8 35 0 FY 2019 FY 2020 1. Units sold and sales value are based on options issued accounted for aborted units 400 334 638 300 274 60 23 FY 2019 FY 2020 CapitaLand 50#51Appendix (B): Operational Statistics by SBUS Singapore, Malaysia & Indonesia Residential Projects Sales Status as of 31 Dec 20201,2 CapitaLand Project Total units Units launched Units sold as of 31 Dec 2020 % of Launched units sold Average selling as of 31 Dec 2020 3 price $ psf Singapore One Pearl Bank 774 450 375 83% S$2,403 psf Sengkang Grand 680 350 330 94% S$1,732 psf Residences Malaysia genKL Park Regent 332 332 303 91% RM698 psf 505 505 451 89% RM1,040 psf Indonesia Stature Residences 96 96 43 45% IDR4.7M psf Notes: 1. Figures might not correspond with income recognition 2. Sales figures of respective projects are based on options issued / bookings made 3. Average selling price (local currency psf) is derived using cumulative sales value achieved and area (based on options issued / bookings made) 51#52Appendix (B): Operational Statistics by SBUS Singapore & Malaysia Retail Portfolio¹ No. of operating malls as of 31 Dec 2020. NPI yield on valuation4 Committed occupancy rate5 NPI (million) Same-mall 2,3 As of FY 2020 Curr FY 2020 FY 2019 Singapore 19 CapitaLand Malaysia 7 Change in NPI (100%) Change in Shopper Change in Tenants' sales traffic FY 2020 vs FY 2019 (per sqft) 31 Dec 2020 Singapore Malaysia 4.4% 3.8% 97.8% SGD 88.2% MYR 686 206.3 907 307.6 -24.3% -32.9% -40.1% -13.8% -42.7% -17.5% Singapore shopper traffic and tenant sales in 4Q 2020 were boosted by the festive season and Phase 3 reopening on 28 Dec 2020, recovering to 67.9% and 94.5%, respectively compared to a year ago Singapore tenant retention rate was at >84% for FY 2020 • Portfolio includes properties that are operational as of 31 Dec 2020 and include properties managed by CapitaLand Group Includes the retail components of integrated developments and properties owned by CapitaLand Group Notes: 1. 2. 3. 4. 5. 6. Same-mall compares the performance of the same set of property components opened/acquired prior to 1 Jan 2019 NPI yield on valuation is based on valuations as of 31 Dec 2020 Committed occupancy rates as of 31 Dec 2020 for retail components only Figures are on 100% basis, with the NPI of each property taken in its entirety regardless of CapitaLand's effective interest. This analysis compares the performance of the same set of property components opened/acquired prior to 1 Jan 2019. An integrated development is regarded as a single asset and NPI consists of all the components present in an integrated development 52#53Appendix (B): Operational Statistics by SBUS Close to 200 Retail Store Openings in FY 2020/2021 CapitaLand Continuously refreshing tenant mix with exciting offerings amidst challenging market conditions outside BOSS POF THE SOUL BTS pop up at Plaza Singapura 1 of 3 global locations for popular pop-up VANS Singapore's first Vans outlet at IMM Outside + Melissa collaboration at ION new Ори TARTE Introduction of more luxury outlet brands such as Hugo Boss Outlet to IMM Tarte by Cheryl Koh as part of refreshed F&B offerings at Raffles City YUM SING! Tamjai Samgor at Bedok Mall new-to-market Michelin Bib Gourmand Yunnan mixian New Balance Diner at Bugis Junction spotlighting the reinvented New Balance 327 POP MART POP Mart opened its first South East Asia Flagship at Funan American Vintage opened its Flagship at ION 430 ghost Ghost Kitchen - A simple, modular and versatile kitchen at Melawati Mall Yum Sing! - A chic new-to- market concept at Clarke Quay Frooll in rrooll - A new-to-market bakery specializing in cinnamon rolls at Jewel One Assembly - a creative collaboration with BHG premiering at Raffles City opening in 1Q 2021 53#54Appendix (B): Operational Statistics by SBUS Singapore Office NPI³ (S$ million) Portfolio No. of operating Grade A office buildings as of 31 Dec 2020 Grade A office buildings Singapore NPI yield on valuation Committed occupancy rate² FY 2020 As of 31 Dec 2020 FY 2020 3.3% 91.4% 287.6 Capital Tower Notes: CapitaGreen Singapore 6 CapitaLand Change in NPI (100%) FY 2019 FY 2020 vs FY 2019 305.6 -5.9%4 Asia Square Tower 2 One George Street Six Battery Road 79 Robinson Road 1. NPI yield on valuation is based on FY 2020 NPI and valuation as of 31 December 2020 and excludes 79 Robinson Road, where the NPI is still pending stability Committed occupancy rate as of 31 December 2020 and includes 79 Robinson Road 2. 3. 4. Figures are on 100% basis, with the NPI of each property taken in its entirety regardless of CapitaLand's effective interest. Excludes 79 Robinson Road. Due to Six Battery Road currently undergoing upgrading works 54#55Appendix (B): Operational Statistics by SBUS Singapore Business Park, Industrial & Logistics Portfolio Number of operating properties Committed occupancy rate Weighted average lease expiry¹ (years) Average rental reversion2 As of 31 Dec 2020 4Q 2020 FY 2020 Business Park 33 85.5% -0.9% 5.9% Industrial 45 86.5% -3.0% -0.9% 3.4 Logistics 21 93.9% -7.1% -7.9% Integrated 3 95.9% 11.5% 13.5% Development³ SINGAPORE SCIENCE PARK ON Ascent, Singapore Science Park, Singapore Aperia, Singapore 20 Tuas Avenue 1, Singapore CapitaLand Notes: 1. Calculated based on balance of lease term of every lease weighted by annual rental income 2. Calculated based on average signing gross rent of the renewed leases divided by preceding average signing gross rent of current leases. For the period Oct – Dec 2020 (4Q 2020) and Jan Dec 2020 (FY2020), weighted by area renewed and for multi-tenant buildings only 3. Comprises two or more types of space such as work space, retail and warehousing facility within one integrated development 55#56Appendix (B): Operational Statistics by SBUS Vietnam Asset Portfolio S$1.0 billion corresponding to 1% of Group's total assets CapitaLand Office 14% Retail 4% Others 18% Total Assets¹: S$1.0 Billion 83.8 21 Residential, Commercial Strata & Urban Development 64% Residential, Commercial Strata & Urban Development Total EBIT²: S$124.7 Million 3.1 32.5 5.3 Retail Office Others 3 Notes: Total assets as of 31 Dec 2020 1. 2. Total EBIT YTD Dec 2020 3. Include serviced residence component in an integrated development project - The Vista 56#57Appendix (B): Operational Statistics by SBUS Vietnam Residential Sales • • CapitaLand No new launches scheduled in FY 2020. Limited selections left for balance unsold launched units Primarily due to delays in securing permits for units sold previously, 212 units were returned by buyers, resulting in negative sales accounted in FY 2020. This was offset by the subsequent sales of 34 returned units at higher prices In FY 2020, there were 6 new units sold in project DIMENSION 186 250 200 150 151 Residential Units 50 100 60 50 24 24 (13) (48) 50 100 (58) (37) 150 200 FY 2019 (29) (172) FY 2020 2H 2020: (-0.5)x YoY FY 2020: (-0.9)x YoY 2H 2020: (-0.2)x YoY 1Q 120 100 FY 2020: ~(-0.5)x YoY 2Q 3Q 100 4Q Sales Value (S$ million) 80 50 60 82 40 40 20 20 0 20 20 40 40 60 60 (16) (17) (8) (49) FY 2019 FY 2020 Note: 1. Above data is on 100% basis. Value excludes value added tax 57#58Appendix (B): Operational Statistics by SBUS Vietnam Residential Handover Residential Units 1,400 1,200 1,000 800 2H 2020: 2.7x YoY FY 2020: 3.0x YoY 1,315 412 276 600 446 400 490 175 76 200 77 118 137 FY2019 FY2020 Handover Value (S$ million) 2H 2020: 3.5x YoY FY 2020: 3.1x YoY CapitaLand 1Q 401 2Q 450 400 350 156 300 250 200 121 130 150 41 100 38 97 50 19 32 27 FY2019 FY2020 Future Revenue Recognition ~714 units sold with a value of ~S$272 million² expected to be handed over from 1Q 2021 onwards ~43% of value expected to be recognised in FY 2021 Notes: 1. Above data is on 100% basis 2. Value excludes value added tax and impact due to significant financing component for certain payment schemes under accounting principles IFRS 15 58 3Q 4Q#59Appendix (B): Operational Statistics by SBUS Launched Residential Projects In Vietnam ~ 87% of launched units sold as of 31 Dec 2020 CapitaLand Project Total units Total units launched Units sold as of 31 Dec 2020 % of launched units sold Ho Chi Minh City DIMENSION 102 102 85 83% De La Sol 870 652 413 63% Hanoi Seasons Avenue 1,300 1,300 1,298 99% Total 2,272 2,054 1,796 87% Notes: 1. This list only shows current projects with available units for sales during the reported period. Figures might not correspond with income recognition 2. Sale figures are based on options issued made, netting off abortive units 59#60Appendix (B): Operational Statistics by SBUS Vietnam Residential/ Trading Sales & Handover Status CapitaLand Projects Units launched CL effective stake % of launched units sold as of 31 Dec 2020 Average area of units launched as of 31 Dec 2020 Average selling price per sqm as of 31 Dec 2020' Actual handed 1 over units in (sqm) (SGD) Expected units handed over for sold units 2022 & 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 beyond Ho Chi Minh City Vista Verde 1,152 50% 100% 99 2,215 26 33 33 DIMENSION 102 100% 83% 87 7,441 7 1 1 a d'Edge 273 90% 100% 110 4,397 29 17 Feliz en Vista 1,127 80% 100% 101 3,028 331 39 39 39 39 34 De La Sol 652 100% 63% 77 4,215 413 Hanoi Seasons Avenue 1,300 35% 99% 92 1,791 Total 4,606 9 94% 99 2,335 408 89 88 40 40 457 Notes: 1. 2. Average selling price per sqm is derived using total area sold and total sales value achieved till date. Value excludes value added tax and impact due to significant financing component for certain payment schemes under accounting principles IFRS 15 and translated from VND to SGD using 0.00006 for reference This table excludes project Mulberry Lane which was divested in 4Q 2020 22 60#61• • • Appendix (B): Operational Statistics by SBUS International Asset Portfolio S$3.5 billion¹ corresponding to 4% of Group's total assets CapitaLand On CapitaLand's Balance Sheet Others³ 35% Retail 25% Total Assets¹: S$3.5 Billion Business Parks, Logistics & Industrial 7% Office 33% United States of America 17 Multifamily properties 28 Business Park properties • (Owned by Ascendas Reit). 2 Office properties (Owned by Ascendas Reit) United Kingdom 38 Logistics properties (Owned by Ascendas Reit) 1 Business Park property Germany 2 Office properties (Owned by CICT) South Korea 4 Office properties4 • 1 Data Centre fund5 • • Australia 5 Suburban office properties 34 Logistics properties (Owned by Ascendas Reit)6 Total assets as of 31 Dec 2020. This relates mainly to 17 multifamily portfolio in U.S., business park property in UK and properties in Japan and South Korea Total EBIT YTD Dec 2020 Notes: 1. 2. 3. Include Multifamily 4. ICON Yeoksam is 100% owned by third parties and divestment of ICON Cheonggye completed in Jan 2021 5. 100% third party capital 6. Include properties under development and transactions that were announced . Japan 4 Office properties 1 Logistics property 2 Shopping malls U.S. 36% UK 7% Total Assets¹: S$3.5 Billion Japan 43% Germany 1% Korea 13% Retail, 1% Others³ 41% Total EBIT²: S$142.1 Million Office 51% Business Park, Industrial & 61 Logistics, 7%#62Appendix (B): Operational Statistics by SBUS Japan Retail CapitaLand Portfolio¹ No of operating malls as of 31 Dec 2020 NPI yield on valuation³ Same-mall1,2 FY 2020 Committed occupancy rate As of 31 Dec 2020 NP14 (JPY million) Change in NP14 (100%) Japan 2 Change in Shopper traffic 5 Change in Tenants' sales (per sqft)5 FY 2020 FY 2019 FY 2020 vs FY 2019 Japan 4.5% 99.6% 1,475 1,844 -20.0% -14.7% -14.0% aunas Olinas Mall in Tokyo, Japan Notes: 1. Portfolio includes properties that are operational as of 31 Dec 2020 BARKE DRUG & COSMETIC サンドラッグ BATTEN Seiyu & Sundrug in Saitama, Japan 2. Same-mall compares the performance of the same set of property components opened/acquired prior to 1 Jan 2019 3. NPI yield on valuation is based on 2020 NPI and valuation as of 31 Dec 2020. It is calculated based on the number of operating malls as of 31 Dec 2020 4. Figures are on 100% basis, with the NPI of each property taken in its entirety regardless of CapitaLand's effective interest 5. Adjusted for non-trading days. Olinas Mall was largely closed between 8 Apr to 31 May 2020 due to the "State of Emergency" implemented by the Japanese Government. Excludes Seiyu & Sundrug due to no disclosure from tenants 6. Japan total excludes 3 properties divested in 2020 62#63Appendix (B): Operational Statistics by SBUS International Office Portfolio¹ No of operating office buildings as of 31 Dec 2020 NPI yield on valuation³ Committed Occupancy rate4 Japan 4 South Korea Germany 2 2 NP15 (in millions) Change in NP15 (100%) CapitaLand Same- Office 1.2 As of 31 Dec FY 2020 Curr FY 2020 FY 2019 FY 2020 vs FY 2019 2020 Gallileo, Frankfurt, Germany Japan' 4.2% 89.9% JPY 1,835 1,792 2.4% South 4.2% 90.9% KRW 16,627 N.M. Korea7 Germany 4.2% 94.0% EUR 26.2 25.6 2.3% Portfolio includes properties that are operational as of 31 Dec 2020 Same-Office compares the performance of the same set of property components opened/acquired prior to 1 Jan 2019 Notes: 1. 2. 3. 4. 5. 6. 7. NPI yield on valuation is based on FY 2020 NPI and valuations as of 31 Dec 2020. It is calculated based on the number of operating office buildings as of the valuation date Committed occupancy rates as of 31 Dec 2020 for office components Figures are on 100% basis, with the NPI of each property taken in its entirety regardless of CapitaLand's effective interest. An integrated development is regarded as a single asset and NPI consists of all the components present in an integrated development Excludes Shinjuku Front Tower Completion of ASB transaction announced on 30 Jun 2019 Yokohama Blue Avenue, Tokyo, Japan 63#64Appendix (B): Operational Statistics by SBUS Logistics And Suburban Offices/Business Parks Cap/taLand Number of Committed Portfolio operating properties occupancy rate Weighted average lease expiry¹ (years) Average rental reversion2 NPI (S$ million)³ NPI yield on valuation³ Weighted average cap rate As of 31 Dec 2020 4Q 2020 FY 2020 FY 2020 FY 2020 Australia Logistics 32 5.51% 97.4% 4.1 N.A.4 14.0% 93.25 5.1%5 Suburban offices 4 5.96% United Kingdom Logistics United States Business Park/Office amazon 38 88 97.5% 8.8 N.A.4 N.A.4 43.0 5.5% 5.81% 30 30 92.9% 5.1 18.8% 16.6% 89.26 4.3%6 5.79% Units 1a, 1b, 2 & 3, Upwell Street, UK 7 Grevillea Street, Sydney, Australia 5005 & 5010 Wateridge Vista, San Diego, USA Calculated based on balance of lease term of every lease weighted by annual rental income Calculated based on average signing gross rent of the renewed leases divided by preceding average signing gross rent of current leases. For the period Oct - Dec 2020 (4Q 2020) and Jan - Dec 2020 (FY2020), weighted by area renewed and for multi-tenant buildings only Notes: 1. 2. 3. 4. No renewals signed in the period for the respective segments 5. 6. NPI and NPI yield on valuation are based on Ascendas Reit's FY 2020 NPI and valuation as of 31 Dec 2020. Valuation of the newly acquired San Francisco properties are as of 15 Oct 2020 NPI includes contribution from the newly completed property at 254 Wellington Road from 11 Sep 2020 to 31 Dec 2020. Valuation of the Australian portfolio includes 254 Wellington Road NPI includes contribution from newly acquired San Francisco properties from 21 Nov 2020 to 31 Dec 2020. Valuation of the US portfolio includes these two properties (whose valuations are as of 15 Oct 2020) 64#65Appendix (B): Operational Statistics by SBUS Multifamily Portfolio US Multifamily portfolio exhibited resilience amid COVID-19 pandemic Number of Committed Portfolio operating properties2 occupancy rate Weighted length of stay (years) NPI (US$ Million) FY 2020 FY 2019 As of 31 Dec 2020 Change in NPI (100%) FY 2020 vs FY 2019 CapitaLand NPI yield on valuation¹ FY 2020 Multifamily 16 94.8% 1 41.9 41.2 1.5% 4.7% . Leasing velocity for the multifamily portfolio remained strong, achieving ~95% occupancy FY 2020 rental collection maintained around 96%, generally in line with the market average As part of the Multifamily value-add programme, continued unit interior renovations, resulting in rental uplifts and approximate payback period of 5 years for renovated units completed Notes: 1. 2. Stoneridge at Cornell, Portland Silverbrook, Aurora Based on FY 2020 NPI and valuation as of 31 Dec 2020 Excludes the multifamily property under development in Austin, Texas newly acquired in Dec 2020 65#66CapitaLand China China-Singapore Guangzhou Knowledge City, China#67Appendix (B): Operational Statistics by SBUS China Asset Portfolio S$29.2 billion corresponding to 35% of Group's total assets Chengdu― Business Park, Industrial & Logistics 5% Others³ 4% Residential, Tianjin Commercial Strata & Urban Development 35% Beijing- Office 17% Xi'an. Chongqing Guangzhou Suzhou Wuhan Shanghai Ningbo Hangzhou #11 Shenzhen Total Assets¹: S$29.2 Billion Retail 39% The five core city clusters under CapitaLand's China strategy are Beijing/Tianjin, Shanghai/Hangzhou/Suzhou/Ningbo, Guangzhou/Shenzhen, Chengdu/Chongqing/Xi'an, and Wuhan Notes: Total assets as of 31 Dec 2020 1. 2. Total EBIT YTD Dec 2020 3. Include serviced residence component in integrated development projects in China as well as Corporate & others 1,173.7 CapitaLand Total EBIT²: S$127.7 Million -206.8 82.6 30.7 -952.5 Residential, Commercial Strata & Urban Development Retail Office Business Park, Industrial & Logistics Others 3 67#68Residential Units Appendix (B): Operational Statistics by SBUS China Residential Sales Residential sales value in FY 2020 increased 12% YoY 4Q 2020: ~0.9x YoY FY 2020: 1.0x YoY 6,000 5,268 5,100 5,000 1,574 1,416 4,000 669 3,000 1,915 2,000 1,807 1,000 1,361 1,218 408 0 FY 2019 FY 2020 Sales Value (RMB million) CapitaLand 4Q 2020: ~0.8x YoY FY 2020: 1.1x YoY 16,000 14,767 14,000 13,213 1Q 2Q 3,871 12,000 3Q 4Q 4,709 10,000 8,000 5,308 2,085 6,000 3,849 4,000 4,719 2,000 2,570 FY 2019 869 FY 2020 New Launches in 4Q 2020 OneHub GKC, Guangzhou • Launched 248 units in Dec 2020 • La Botanica, Xi'an Launched 758 units in Oct 2020 • 98% sold with ASP ~RMB 26.6k psm Sales value ~RMB 608 million 98% sold with ASP ~RMB 12.1k psm Sales value RMB 1,003 million Above data is on a 100% basis, including strata units in integrated development and considers only projects being managed. FY 2020 include 179 units with a value of RMB 0.7 Bn arising from the divestment of a residential investment Notes: 1. 2. Value includes carpark, commercial and value added tax 68#69Appendix (B): Operational Statistics by SBUS China Residential Sales¹ As of 31 December 2020 Over 4,000 units ready to be released in China for 2021 Markets Beijing Guangzhou Shanghai Tier 1 Total Chengdu Chongqing Ningbo Wuhan Xian Tier 2 Total Kunshan Tier 3 Total Total CapitaLand Total units Units launched % of launched Units sold¹ units sold 922 587 368 62.7% 10,220 3,642 3,434 94.3% 243 168 159 94.6% 11,385 4,397 3,961 90.1% 7,714 7,145 7,134 99.8% 3,444 1,673 932 55.7% 180 180 129 71.7% 2,246 2,246 2,246 100.0% 28,146 22,222 22,000 99.0% 41,730 33,466 32,441 96.9% 5,745 5,744 5,723 99.6% 5,745 5,744 5,723 99.6% 58,860 43,607 42,125 96.6% Note: 1. Sales figures of respective projects are based on options issued made, netting off abortive units 69#70Residential Units¹ Appendix (B): Operational Statistics by SBUS China Residential Handover 4Q 2020: -1.7x YoY FY 2020: 1.1x YoY 7,000 6,024 6,000 5,390 5,000 1,722 2,982 4,000 3,000 1,069 2,000 2,390 2,271 1,000 328 0 FY 2019 520 132 FY 2020 Notes: Handover Value (RMB million) 1.2 4Q 2020: 1.6x YoY FY 2020: 1.3x YoY CapitaLand 15,819 16,000 14,000 12,325 12,000 1Q 9,472 2Q 10,000 3Q 6,094 4Q 8,000 6,000 2,780 4,000 4,752 2,000 2,255 1,196 0 FY 2019 1,255 340 FY 2020 Future Revenue Recognition ~5,400 units sold³ with a value of ~RMB10.5 billion 4 expected to be handed over from 2021 onwards 1. Above data is on a 100% basis, including strata units in integrated developments and considers only projects being managed 2. Value includes carpark and commercial 3. 4. Units sold include options issued as of 31 Dec 2020. Above data is on a 100% basis, including strata units in integrated developments and considers only projects being managed Value refers to value of residential units sold including value added tax 70#71Appendix (B): Operational Statistics by SBUS China Residential/ Trading Sales & Completion Status CapitaLand Projects Units launched Area launched (sqm) CL effective stake % % of launched units sold¹ As at 31 Dec 2020 Average Selling Price² RMB/Sqm Completed units in Expected Completion for launched units 2H 2020 2021 2022 & beyond SHANGHAI The Paragon Jing'an One 30 10,468 99% 90% 151,876 0 0 0 138 27,222 70% 96% 121,800 138 0 0 KUNSHAN The Metropolis Ph 2A & Ph 3 - Blk 2 to 5, 8, 15 and 18 1,820 192,626 99% 0 0 0 The Metropolis Ph 4 - Blk 6, 9 and 10 460 51,041 99% 460 0 0 The Metropolis - Total 2,280 243,667 100% 99% 22,630 460 0 0 NINGBO The Summit Executive Apartments (RCN) BEIJING Vermont Hills Ph 1, Ph 2 & Ph 3 180 18,511 55% 72% 18,489 0 0 0 263 147,175 93% 0 0 0 3 Vermont Hills Ph 4 196 74,596 60% 0 196 0 3 Vermont Hills Ph 5 & Ph 6 128 66,632 5% 0 0 128 Vermont Hills - Total 587 288,404 100% 63% 27,167 0 196 128 WUHAN Lakeside Ph 2B 718 80,053 100% 100% 8,135 718 0 0 GUANGZHOU Citta di Mare Ph 1 - Blk 33, Townhouse & Villa 199 4 51,922 45% 93% 29,092 0 0 0 Citta di Mare Ph 2 - Blk 1 to 4 678 71,345 99% 0 678 0 3 Citta di Mare Ph 2 - Blk 5 to 8 568 59,533 85% 0 0 568 Citta di Mare Ph 2 - Total La Riva Ph 1A Chromatic Garden OneHub GKC Sub-total 1,246 130,878 80% 93% 25,012 0 678 568 920 95,193 80% 94% 50,329 920 0 0 3 161 16,642 100% 72% 19,559 0 0 161 248 23,456 76% 98% 26,565 0 0 248 6,707 986,415 92% 2,236 874 1,105 71#72Appendix (B): Operational Statistics by SBUS China Residential/ Trading Sales & Completion Status (cont'd) Projects Units launched Area launched CHENGDU CL effective stake % of launched (sqm) units sold¹ % As at 31 Dec 2020 Average Selling Price² RMB/Sqm Completed units in Expected Completion for launched units 2H 2020 2021 2022 & beyond 4 Chengdu Century Park - Blk 1, 3, 4 & 9 to 14 (West site) Chengdu Century Park - Blk 11 & 13 (East site) 1,416 136,490 60% 99% 18,000 0 0 0 221 4 26,633 99% 0 0 0 Chengdu Century Park - Blk 1-2, 6-9, 14 & 16 (East site) 866 103,875 100% 866 0 0 Chengdu Century Park - Blk 2 (East site) 106 11,020 100% 0 106 0 Chengdu Century Park (East site) - Total 1,193 141,528 60% 99% 19,526 866 106 0 3,4 Parc Botanica - Ph 2 968 103,029 56% 100% 10,394 0 0 0 CHONGQING Raffles City Residences (RCCQ) - T1, T2 & T6 772 163,528 88% 270 Raffles City Residences (RCCQ) - T5 292 54,863 20% 0 Raffles City Residences (RCCQ) - Total 1,064 218,391 100% 69% 36,763 270 Spring - Ph 2 4 203 28,929 70% 0 Spring - Ph 3 3 406 66,341 13% 0 Spring - Total 609 95,270 100% 32% 23,717 0 096000 0 292 0 292 0 0 406 406 XIAN La Botanica - Ph 9 (2R5) 1,624 164,010 99% 1,624 0 0 La Botanica - Ph 11 (3R4), Ph 12 (2R3) 1,703 202,668 100% 0 1,703 0 3 La Botanica - Ph 15 (1R1) 1,860 211,655 98% 0 0 1,860 La Botanica - Total 5,187 578,333 38% 99% 12,049 1,624 1,703 1,860 Sub-total CL China 10,437 1,273,040 17,144 2,259,455 93% 93% 2,760 2,101 2,266 4,996 2,975 3,371 CapitaLand Notes: 1. % sold: Units sold (Options issued as of 31 Dec 2020) against units launched 2. 345 Average selling price (RMB) per sqm is derived using the area sold and sales value achieved (including options issued) in the latest transacted quarter Launches from existing projects in 2H 2020, namely Vermont Hills (132 units), Citta di Mare Ph 2 (464 units), Chromatic Garden (161 units), OneHub GKC (248 units), Parc Botanica (774 units), Spring (406 units) and La Botanica (1,332 units). Projects/Phases fully or partially completed prior to 2H 2020 Project Lake Botanica removed after divestment completed in 1H 2020 72#73Appendix (B): Operational Statistics by SBUS China Retail Portfolio No of operating malls as of 31 Dec 20201 Targeted no² of mall to be opened in 2021 & beyond China 44 CapitaLand 1 Change in Tenants' Same- mall1.3 NPI yield on valuation4 Committed occupancy rate5 NP16 (RMB million) Change in NPI (100%) Change in Shopper traffic sales (per sqm)7 FY 2020 As of 31 Dec 2020 FY 2020 FY 2019 FY 2020 vs FY 2019 China 4.0% 89.0% 5,010 5,771 -13.2% -32% -22% Notes: 2. 12 3. 4. 5. 6. 7. Suzhou Center, China Raffles City The Bund, Shanghai, China Portfolio includes properties that are operational as of 31 Dec 2020 Opening targets relate to the retail components of integrated developments and properties managed by CapitaLand Group Same-mall compares the performance of the same set of property components opened/acquired prior to 1 Jan 2019 NPI yield on valuation is based on latest valuations Committed occupancy rates as of 31 Dec 2020 for retail components only The figures are on 100% basis, with the NPI of each property taken in its entirety regardless of CapitaLand's effective interest. This analysis compares the performance of the same set of property components opened/acquired prior to 1 Jan 2019. An integrated development is regarded as a single asset and NPI consists of all the components present in an integrated development China: Excludes one master-leased mall. Tenants' sales from supermarkets and department stores are excluded 73#74Appendix (B): Operational Statistics by SBUS China Retail - Focused on Tier 1 And Selected Core Tier 2 Cities CapitaLand NPI yield Number of Cost on cost Change in Yield City tier operating (100% basis) Change in Tenants' sales (psm) (100% basis) malls (RMB billion) FY 2020 FY 2019 FY 2020 vs. FY 2019 Tier 1 18 54.1 6.1% 7.0% -12.9% -23.4% Tier 2 & others² 22 37.4 4.6% 5.4% -14.8% -19.7% FY 2020 NPI yield on cost Gross revenue on cost China portfolio 5.5% 8.4% Notes: • The above figures are on 100% basis, with the financials of each property taken in its entirety regardless of CapitaLand's effective interest. This analysis compares the performance of the same set of property components that are opened/acquired prior to 1 Jan 2019 Data for Tenants' Sales excludes one master-leased malls. Tenants' sales from supermarkets and department stores are excluded 1. Tier 1: Beijing, Shanghai, Guangzhou and Shenzhen 2. Tier 2: Provincial capital and city enjoying provincial-level status 74#75Appendix (B): Operational Statistics by SBUS Grand Opening of CapitaMall Nuohemule Opened on schedule and embraced by Hohhot community (Inner Mongolia) CapitaLand Capital and First Gymboree concept in Inner Mongolia 20 December 2020 100% Occupancy >200 tenants Situated atop Nuohemule Station on Metro Line 2 Eludes "mall in a garden" concept with 10,000 sq m of Verdant greenery Kart Racing, Carlespeed first in Inner Mongolia Mall features a wide variety of experiential and smart retailing concepts that excite the modern shopper as well as new-to-market brands and concept stores eagerly anticipated by the local market. On Opening Day Strong footfall of ~100,000 shoppers 75#76Appendix (B): Operational Statistics by SBUS China Office Average committed occupancy of ~85% across China's office portfolio as of end Dec 2020 Average rental reversion of 0.5% in FY 2020 Increasing leasing activities in new projects¹ Raffles City The Bund in Shanghai and Raffles City Chongqing, with COVID-19 easing off in 2H 2020 27 Projects In 85% 12 Cities 23 in Operation 4 Under Development Average Committed Occupancy for Stabilised Projects² CapitaLand Raffles City Shanghai, China Notes: 1. 2. New projects include offices in Raffles City The Bund, Raffles City Chongqing and Y-Town Stabilised projects include offices in Raffles City Shanghai, Raffles City Changning, Capital Square, Hongkou, Minhang, Innov Center, Pufa Tower, Ascendas Plaza, Ascendas Innovation Plaza, Raffles City Ningbo, Raffles City Hangzhou, Suzhou Center, Raffles City Beijing, Tianjin International Trade Centre, Raffles City Shenzhen, Raffles City Chengdu, CapitaMall Tianfu, CapitaMall Xindicheng, One iPark and CapitaMall Westgate 76#77Appendix (B): Operational Statistics by SBUS Raffles City Portfolio in China NPI² Notes: Committed NPI YoY growth occupancy rate (%) NPI yield on valuation³ (%) (100% basis) CapitaLand (RMB million) Raffles City1 (100% basis) (%) FY 2020 FY 2019 As of 31 Dec 2020 FY 2020 Tier 1 1,654 1,682 -1.7% 87% ~3% to 5% Tier 2 Total 463 442 4.7% 93% ~3% to 5% 2,117 2,124 -0.4% 90% Raffles City Changning Raffles City Chengdu Raffles City Beijing 1. Raffles City includes Raffles City Shanghai, Raffles City Beijing, Raffles City Changning, Raffles City Shenzhen, Raffles City Chengdu, Raffles City Ningbo and Raffles City Hangzhou 2. Net Property income (NPI) excludes strata/trading components 3. NPI yield is based on valuations as of 31 Dec 2020 77#78Appendix (B): Operational Statistics by SBUS China Business Park, Industrial & Logistics Weighted Number of Committed Portfolio operating properties occupancy rate (%) average lease expiry¹ (years) Average rental reversion² (%) NPI² (RMB million) (100% basis) Change in NPI² (100% basis) CapitaLand NPI yield on valuation³ (%) As of 31 Dec 2020 FY 2020 vs FY 2020 FY 2020 FY 2020 FY 2019 FY 2019 Business 87% 14.3% Park 2.2 564.9 459.6 +23% 7.0% Industrial & Logistics 2 93% 11.7% Singapore-Hangzhou Science & Technology Park, China Dalian Ascendas IT Park, China Ascendas iHub, Suzhou, China Notes: 1. 2. 3. Calculated based on balance of lease term of every lease weighted by occupied leasable area Completion of ASB transaction on 28 Jun 2019. FY 2019 relates to period from Jan to Dec 2019 NPI yield is based on valuations as of 31 Dec 2020 78#79CapitaLand India International Tech Park Bangalore, India#80Appendix (B): Operational Statistics by SBUS Well-Diversified In Six Key Cities Across India Gurgaon . International Tech Park, Gurgaon CapitaLand • • • . • . • Mumbai (Panvel) Arshiya Panvel Warehouses Bangalore International Tech Park Bangalore Chennai International Tech Park Chennai, Taramani CyberVale International Tech Park Chennai, Radial Road4 OneHub Chennai Ascendas-Firstspace Chennai I, Oragadam5 Ascendas-Firstspace Chennai II, Periyapalayam6 Mumbai 5% Gurgaon 5% Logistics 10% Bangalore 27% IT Parks 90% Pune • International Tech Park Pune, Hinjawadi • aVance, Pune Pune • International Tech Park 20% Pune, Kharadi4 Hyderabad Total Completed Area¹: 19.1 Million sqft • International Tech Park Hyderabad ⚫ CyberPearl • aVance, Hyderabad Hyderabad 18% Notes: 1. Total completed area as of 31 Dec 2020 2. Based on valuation as of 31 Dec 2020 3. Total property value at S$2.98 billion. Exchange rate of 1SGD: 55.3 INR 4. Chennai 25% Total Property Value²: INR164.7 Billion³ International Tech Park Chennai, Radial Road and International Tech Park Pune, Kharadi are under construction 5. Renamed from "Aarush Logistics Park, Chennai (Oragadam)" 6. Renamed from "Vinplex Logistics Park" 80#81Appendix (B): Operational Statistics by SBUS India Portfolio Performance Portfolio Number of operating parks CapitaLand Committed occupancy rate Weighted average lease expiry (years) As of 31 Dec 2020 IT Parks 9 Logistics Park 3 93% 96% 4.1 5.7 ascendas International Tech Park Bangalore International Tech Park Pune International Tech Park Chennai 81#82Appendix (B): Operational Statistics by SBUS Development Properties Completed in India in 4Q 2020 CapitaLand Property Endeavour Building, International Tech Park Bangalore Property Asset class IT park Asset class A 0.7m sqft building, Ascendas-Firstspace Chennai I, Oragadam Logistics park 1.5m sq ft including open area Floor area 0.68m sq ft Floor area (0.7m sq ft of built-up area) Construction status Leasing status Completed in November 2020. Tenant handover in progress 100% pre-leased to a leading IT Services company Construction status Completed and handed over to tenant in October 2020 Leasing status 100% 82#83Fund Management CapifaLand Financial Changi South Ave 2 60 ONE Changi City, Changi Business Park, Singapore#84Appendix (B): Operational Statistics by SBUS Diversified Portfolio Of Funds CapitaLand One of Asia's leading real estate fund managers with 25 private funds and 6 listed trusts No. Fund Name Fund size (million)¹ Listed REITs/Business Trusts Market Cap³ 1 CapitaLand Mall China Income Fund US$ 900 (As of 31 Dec 2020) 2 CapitaLand Mall China Income Fund II US$ 425 (S$ Billion) 3 CapitaLand Mall China Income Fund III S$ 900 4 CapitaLand Mall China Development Fund III US$ 1,000 CapitaLand Integrated Commercial Trust 14.0 5 6 7 Ascott Serviced Residence (Global) Fund Raffles City China Income Ventures Limited Raffles City Changning JV US$ 600 US$ 1,180 Ascendas Real Estate Investment Trust 12.4 S$ 1,026 8 CapitaLand Township Development Fund I US$ 250 9 10 CapitaLand Township Development Fund II Vietnam Joint Venture Fund US$ 200 Ascott Residence Trust 3.4 US$ 200 11 CapitaLand Mall India Development Fund S$ 880 CapitaLand China Trust 2.1 12 Raffles City China Investment Partners III US$ 1,500 13 CapitaLand Vietnam Commercial Value-Added US$ 130 14 CREDO I China US$ 556 Ascendas India Trust 1.6 15 CapitaLand Asia Partners I (CAPI) and Co-investments US$ 510 16 Ascendas China Commercial Fund 3 S$ 436 17 18 Ascendas China Business Parks Fund 4 Ascendas India Growth Programme S$ 333 CapitaLand Malaysia Mall Trust 0.4 INR 15,000 19 Ascendas India Logistics Programme INR 20,000 Total 33.9 20 Ascendas Korea Office Private REIT 1 KRW 85,100 21 Ascendas Korea Office Private REIT 3 KRW 107,500 22 Ascendas Korea Office Private REIT 4 KRW 25,000 23 Ascendas Korea Office Private REIT 5 2 KRW 64,062 24 Athena LP S$ 88 Notes: 2 1. 25 Korea Data Centre Fund I KRW 116,178 2. Total Fund Size S$ 14,821 3. Fund size as of respective fund closing date Management contract with no CapitaLand stakes As of 31 Dec 2020 market close. Source: Bloomberg 84#85Lodging CapitaLand Lodging IGRE Ascott Orchard Singapore#86Appendix (B): Operational Statistics by SBUS Lodging Overview Singapore Others 3% 5% North Asia (ex. China) 4% Europe 7% China 21% Total properties¹: 777 Southeast Asia & Australasia (ex. SG) 60% Singapore 8% North Asia (ex. China) 8% Others 6% Total lodging Europe 8% RE AUM²: S$34.4 billion Others Singapore 7% North Asia (ex. China) 6% 3% Europe 5% China 27% CapitaLand Total number of units¹: 122,607 Southeast Asia & Australasia (ex. SG) 52% Southeast Asia & Australasia (ex. SG) 33% Total EBIT³: -S$637.6 million 22.4 11.4 (203.9) China 37% Notes: Includes operating and pipeline properties owned/managed and excludes multifamily assets 1. Figure as of 13 Jan 2021 (245.6) Southeast Asia & Australasia (ex. SG) China Europe 2. Figure as of 31 Dec 2020 and includes estimates of 3rd party owned assets in various stages of development 3. Total EBIT YTD Dec 2020. This relates to the total FY 2020 EBIT by CapitaLand Lodging and includes fair value/divestment gains from real estate (28.3) (193.6) North Asia Singapore Others (ex. China) 86#87Appendix (B): Operational Statistics by SBUS Lodging Portfolio 69,723 operational units and 52,884 pipeline units On track to achieve 160,000 units by year 2023 Real estate platform Operating platform REIT/fund TAL Franchised 3rd Party Managed Leased Total Singapore I 1,560 173 1,671 304 3,708 SE Asia & Australasia (ex SG) 5,260 1,424 12,246 24,863 161 43,954 China 1,234 200 34 30,579 32,047 North Asia (ex CN) 3,196 - 342 884 649 5,071 Europe 3,631 478 690 923 821 6,543 Others 1,004 717 210 4,262 6,193 Serviced Apartments 15,885 2,819 13,695 63,182 1,935 97,516 I Corp Leasing 1,517 433 830 33 2,813 TAUZIA 186 19,944 20,130 Subtotal 17,402 3,252 13,881 83,956 1,968 120,459 Synergy 2,148 I 122,607 Notes: Figures above as of 13 Jan 2021 Includes properties units under development CapitaLand ROE-accretive model with >80% units under management contracts and franchise deals Deepening presence and building scale in key gateway cities Growing recurring fee income through various avenues of growth 87#88Appendix (B): Operational Statistics by SBUS Lower Lodging RevPAU Due to COVID-19 FY 2020 Revenue per Available Unit (RevPAU) S$ -40% Note: 233 139 84 -60% -70% CapitaLand 176 162 -21% -31% -48% 114 97 96 76 67 65 52 44 -46% 61 Singapore SE Asia & Australia (ex S'pore) China North Asia (ex China) Europe Gulf Region & India Total FY 2019 FY 2020 Overall FY 2020 RevPAU decreased by 46% YoY 1. Same store. Includes serviced residences leased and managed by the Group. Foreign currencies are converted to SGD at average rates for the relevant period 88#89Appendix (B): Operational Statistics by SBUS Lower Lodging RevPAU Due to COVID-19 4Q 2020 Revenue per Available Unit (RevPAU) S$ -43% Note: 233 -57% -8% 168 132 83 36 -63% 173 -77% CapitaLand -45% -23% 110 94 89 82 72 62 60 40 Singapore SE Asia & Australia (ex S'pore) China North Asia (ex China) Europe Gulf Region & India Total 4Q 2019 4Q 2020 Overall 4Q 2020 RevPAU decreased by 45% YoY 1. Same store. Includes serviced residences leased and managed by the Group. Foreign currencies are converted to SGD at average rates for the relevant period 89#90Appendix (B): Operational Statistics by SBUS Operating Platform - Strong And Healthy Pipeline CapitaLand Operational units contributed S$195 million of fee income in FY 2020 No of units 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Singapore SEA & Australasia (ex. SG) China North Asia Europe Others (ex. China) Operational Under Development Steady pipeline of ~52,900 under-development units to contribute to the Group's fee income Notes: Figures in chart above as of 13 Jan 2021 1. Includes fee based and service fee income generated by the various serviced residences and hotel brands of the Group 90#91Thank You For enquiries, please contact Ms Grace Chen, Head, Investor Relations Direct: (65) 6713 2883 Email: [email protected] CapitaLand Limited (https://www.capitaland.com) 168 Robinson Road #30-01 Capital Tower Singapore 068912 Tel: (65) 6713 2888 Fax: (65) 6713 2999 Email: [email protected] CapitaLand ASCOTT