Investor Presentaiton

United States Robust performance by hotels, with student accommodation providing stable income 252 RevPAU (USD) +12% 282 4Q 2022 4Q 2023 20% of total assets, 26% of 2H 2023 gross profit: 3 hotels and 8 student accommodation under management contracts Management Contracts - Hotels 2H 2023 revenue and gross profit were 11% and 21% higher y-o-y respectively on the back of stronger demand at the properties 4Q 2023 RevPAU increased 12% y-o-y to USD 282, exceeding 4Q 2019 RevPAU levels by 15% • Robust performance in 4Q 2023 with continued return of demand to pre-Covid levels from the corporate segment Leisure demand has made a full return to pre-Covid levels and properties reflected a higher proportion of leisure travellers in 4Q 2023, in line with the year-end holiday season in New York City Outlook for 1Q 2024 is positive with citywide large- scale events such as the National Retail Federation show in Jan being the key drivers of demand Management Contracts - Student Accommodation • 2H 2023 revenue and gross profit were 26% and 20% higher y-o-y respectively, mainly due to new contribution from Standard at Columbia, which began receiving students for the academic year (AY) 2023-2024 in Aug 2023 and higher rental rates achieved on a portfolio level; on a same-store basis², revenue and gross profit were 7% and 2% higher y-o-y respectively Average occupancy of the properties was c.93% in 4Q 2023 • Rent growth for the AY is c.5.5% y-o-y²; excluding Wildwood Lubbock which is undergoing light AEI to refresh the property, rent growth is c.6.5% y-o-y² • For the next AY 2024-2025 commencing from Aug 2024, pre-leasing on a portfolio level continues to be favourable, pacing ahead of last AY Notes: 1. 2. Pertains to the 3 hotels and excludes the student accommodation properties Excluding Standard at Columbia which began receiving students in Aug 2023 CapitaLand Ascott Trust Investor Presentation 39

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