Investor Presentaiton

Diversified Portfolio to Deliver Returns Underpinned by healthy financial position; AEls and developments to add to growth Macroeconomic and Industry Outlook Slower economic growth in 20241 and geopolitical tensions Interest rates likely at or near the peak² International travel projected to fully recover to pre-pandemic levels in 20243 • • Amidst the macroeconomic and geopolitical uncertainties, CLAS is cautiously optimistic about the demand for lodging Diversified portfolio: Marrying stability with growth CLAS' diversification and portfolio of growth and stable income assets provide resilience amidst macroeconomic uncertainties and global geopolitical tensions • CLAS' properties are mainly located in key gateway cities or manufacturing hubs which are supported by corporate and leisure demand drivers Revenue growth has outpaced the increase in operating and financing costs Value creation: Portfolio reconstitution and enhancement • CLAS continues to pursue portfolio reconstitution opportunities to enhance the quality and returns of the portfolio • Proceeds from divestments may be redeployed towards more optimal uses, including but not limited to investing in higher-yielding assets, funding AEls or paring down debt AEls and development projects provide capacity for growth . Prudent capital management: Healthy financial position Healthy financial position with a low effective borrowing cost and high proportion of debt on fixed rates Low gearing provides financial flexibility and debt headroom of c.S$2.0 bil4 CLAS will continue to exercise financial discipline Source: International Monetary Fund, Oct 2023 Notes: 1. 2. Source: CNBC, Jan 2024 3. Source: United Nations World Tourism Organization, Jan 2024 4. Refers to the amount of additional debt before reaching aggregate leverage of 50% CapitaLand Ascott Trust Investor Presentation 30

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