CapitaLand Real Estate Private Equity Funds Overview

13 Prudent Credit Ratios FY 2011 FY 2012 FY 2013 FY 2014 (Restated) Cash (S$ billion) 6.3 5.5 6.3 2.7 Net Debt/Equity 0.31 0.45 0.39 0.57 Net Debt/EBITDA¹ 2.6 3.9 3.7 4.8 Interest Coverage Ratio¹ 5.7 5.5 5.7 7.2 Interest Service Ratio 2.7 3.3 4.6 4.6 % Fixed Rate Debt 66% 77% 70% 75% Ave Debt Maturity(Yr)² 3.8 3.7 3.6 3.3 NTA per share ($) 3.40 3.44 3.68 3.83 Balance Sheet Has Remained Robust Over The Years; Demonstrates CapitaLand's Ability To Grow Prudently Notes 1. EBITDA includes revaluation gain. 2. Based on put dates of Convertible Bond holders. Interest Coverage Ratio = EBITDA/ Net Interest Expenses Interest Service Ratio = Operating Cashflow/ Net Interest Paid CapitaLand

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