Investor Presentaiton

China Improved performance from reopening, anchored by long stays RevPAU (RMB) +7% 306 287 • • 3% of total assets, 2% of 2H 2023 gross profit: 5 SRS under management contracts 2H 2023 revenue and gross profit increased 5% and fell 14% y-o-y respectively mainly due to higher ADR following the easing of Covid-19 restrictions in early 2023, offset by higher property tax 4Q 2023 RevPAU increased 7% y-o-y to RMB 306, which is 86% of 4Q 2019 same-store RevPAU1 • Occupancy was resilient at above 75% in 4Q 2023, with corporate long stays and project groups providing a strong base; the average length of stay of CLAS' properties was c.7 months in 4Q 2023 4Q 2022 4Q 2023 • The Mid-Autumn Festival and National Day holiday periods saw increased demand from domestic leisure travellers • • Demand in 1Q 2024 is expected to be mainly driven by corporates and project groups, with some transient bookings during the Chinese New Year holiday and event periods Bookings at CLAS' properties remain largely from the domestic segment; international demand is expected to improve as the frequency of flights to and from China continues to recover progressively Note: 1. Excluding Ascott Guangzhou which was divested in Dec 2020 and Somerset Xu Hui Shanghai which was divested in May 2021 CapitaLand Ascott Trust Investor Presentation 34

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