Investor Presentaiton

China Outlook improves with easing of travel requirements, long stays provide resilience 249 RevPAU (RMB) +15% 4% of total assets, 2% of 2H 2022 gross profit: 5 SRs under management contracts 287 4Q 2021 4Q 2022 • The Chinese government announced the lifting of all requirements for domestic travel from early-Dec 2022; from 8 Jan 2023, inbound travellers (both foreigners and Chinese nationals) are not required to quarantine and only need to present a negative test result within 48 hours of departure • 2H 2022 revenue and gross profit were 8% and 52% higher y-o-y respectively, mainly due to stronger performance and higher occupancy at the properties . 4Q 2022 RevPAU increased 15% y-o-y and 3% q-o-q to RMB 287, which is 80% of 4Q 2019 same-store RevPAU¹, an improvement from the previous quarter (3Q 2022: 73%) • The q-o-q improvement in RevPAU was despite a surge in local infections towards the end of 4Q 2022, which led to a drop in short stays and transient travel • • • Occupancy remained healthy at above 70% in 4Q 2022; corporate long stays provided a strong base with an average length of stay of c.7 months In 1Q 2023, long stays and project groups will continue to be the primary source of business and provide resilience to the properties, even as caseloads in China remain elevated in the near term, post-easing of restrictions While the Chinese government had temporarily halted short-term visa approvals to South Korean and Japanese nationals, no material impact is expected on our business given the long stay base at the properties Note: 1. Excluding Somerset Xu Hui Shanghai which was divested in May 2021 and Ascott Guangzhou which was divested in Dec 2020 CapitaLand Ascott Trust Investor Presentation 38

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